Allowed

Punjab National Bank v. Mr. Jagdev Singh

DRT20 Aug 2025OA/182/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an applicant bank's application for recovery under Section 19 of the RDB Act after proving an outstanding debt of Rs. 30,22,944 with interest, directing issuance of a recovery certificate and appearance before the Recovery Officer.

What did the court decide?

Recovery of Rs. 30,22,944 with interest allowed; Recovery Certificate issued; Party directed to appear before Recovery Officer for distribution of sale proceeds.

Punjab National Bank versus Mr. Jagdev Singh — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 182/2022 Date of Institution: 19.01.2022 Date of Decision: 20.08.2025

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Punjab National Bank having its branches all over India and a branch at VPO Apra, Tehsil Phillaur, Distt. Jalandhar, Punjab.

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……..Applicant Vs.

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Mr. Jagdev Singh s/o Sh. Lehmber Singh, r/o Village Sultanpur, Tehsil Phillaur, District Jalandhar, Punjab.

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……….Defendant

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Advocates

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Ms. Ritika Kansal proxy counsel Sh. Mohinder Nath Sharma, Counsel for the applicant bank.

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Defendant- ex parte vide order dated 16.11.2022 .

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OA for the Recovery of Rs.30,22,944/- with interest @8.85% per annum with half-yearly rests from 19.01.2022.

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ORDER

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Punjab National Bank has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.30,22,944/- with interest against Mr. Jagdev Singh (defendant).

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Bank’s case is that on 20.12.2014, it had granted a loan of Rs.15.00Lacs to defendant in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to interest @8.85% per annum with half-yearly rests. On 10.01.2022, a sum of Rs.30,22,944/- was due from the defendant. The defendant had duly acknowledged his liability towards the debt on 08.08.2017 & 01.08.2020.

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Despite repeated requests, defendant did not make the repayment. Hence, this application.
3. On 31.03.2022, summons was sent to the defendant by registered
post, which was duly served. However, defendant did not put in
appearance. Vide order dated 16.11.2022, he was proceeded_ex parte_.
4. In order to prove its case, the Bank has placed on record the
affidavit of Sh. Satwinder Singh, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-16.
5. I have perused the evidence on the record. I am of the considered
view that the Bank has proved its case that it had advanced the loan of Rs.15.00 Lacs and on 10.01.2022, a sum of Rs.30,22,944/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.30,22,944/- (Rupees Thirty Lacs Twenty Two Thousand Nine Hundred Forty Four Only) with interest @8.85% per annum with half-yearly rests
from 19.01.2022, till the date of payment is hereby allowed with costs.
Bank can recover its dues by the sale of mortgaged land fully detailed in
para No.3A of the application as well as from the personal movable and immovable property(ies) of the defendant.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Party is directed to appear before Recovery Officer on29.09.2025,
who is directed to distribute the sale proceeds of the mortgaged land and
standing crops as per the provisions of Section 19(20-AB) of the Act.
10. A Copy of this order along with Recovery Certificate be sent to the
Recovery Officer as well as the party.
Pronounced in the open Court. (A S Narang) Dated: 20.08.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Mr. Jagdev Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Mr. Jagdev Singh

Case brief

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What did the court decide?

What the court decided

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