Indian Bank v. Shri Sat Pal
Case brief
What is this about?
This allowed order confirms a loan advance of Rs. 28 Lacks by Indian Bank to respondents. After respondents failed to appear and repay Rs. 32,40,987/- with interest, the Tribunal awarded recovery via mortgage land and other assets.
What did the court decide?
Recovery of Rs. 32,40,987/- with interest at 7.65% per annum; liability joint and several; recovery via sale of mortgaged land and personal assets; Recovery Certificate issued.
What the court decided
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 174/2023 Date of Institution: 07.10.2022 Date of Decision: 19.02.2025
Indian Bank, having its branches all over India and a branch at Jail Road, Gurdaspur, District Gurdaspur, Punjab.
……..Applicant
Vs.
- Sh. Sat Pal s/o Sh. Piara Lal, r/o Village Bhagwanpura Bhukra, P.O. Gurdaspur, Tehsil and District Gurdaspur, Punjab.
- Smt. Sunita w/o Sh. Sat Pal, r/o Village Bhagwanpura Bhukra, P.O. Gurdaspur, Tehsil and District Gurdaspur, Punjab.
……….Defendants
Advocates
Ms.Neha Arora proxy for Sh.Akhilesh Vyas,Counsel for the applicant bank.
Issues for consideration
2 issues framed by the court
Whether the Debt Recovery Tribunal ought to allow the applicant bank's application for recovery of outstanding dues with interest.
Whether the respondents are liable jointly and severally for the recovery of the mortgage land and other assets.
Parties & counsel
- applicant
Indian Bank
- respondent
Sat Pal
- respondent
Sunita
Coram
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court