Allowed

Canara Bank v. Arjan Dev

DRT7 Apr 2025OA/1886/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application under Section 19 of the RDB Act for recovery of a dues of Rs. 80,06,297/- with interest and costs. The court issued a Recovery Certificate for the sale of mortgaged land and directed the Recovery Officer to distribute proceeds according to the Act regarding joint and several liability.

What did the court decide?

Application allowed; recovery of Rs.80,06,297/-with interest allowed; Recovery Certificate issued;

Canara Bank versus Arjan Dev — Execution and Attachment | 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: 1886/2022

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Date of Institution: 07.09.2022 Date of Decision: 07.04.2025

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Canara Bank, having its branches all over India and a branch at G.T. Road, Zila Parishad Complex, Adjacent to Bus Stand, Tehsil & District Gurdaspur, Punjab.

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……..Applicant

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Vs.

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Sh. Arjan Dev s/o Sh. Tulsi Ram, r/o Ram Bag, Bhangala, District Hoshiarpur, Punjab.

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Smt. Veena Rani w/o Sh. Mool Raj, r/o Secretary Mohalla, Tehsil & District Gurdaspur, Punjab.

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Sh. Ashu Kohli w/o Sh. Ajay Shanker, r/o V.P.O – Hardo Chhani, Tehsil & District Gurdaspur, Punjab. Second Address: Secretary Mohalla, Tehsil & District Gurdaspur, Punjab.

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……….Defendants

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Advocates

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Sh. Munish Yadav, Counsel for the applicant bank. Defendants - ex parte .

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OA for the Recovery of Rs.80,06,297/- with interest from 07.09.2022.

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ORDER

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Canara Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.80,06,297/- with interest against Sh. Arjan Dev and others (defendants).

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Bank’s case is that on 27.03.2018, it had granted a loan of Rs.50.00 Lacs to defendant Nos. 1 and 2 in the form of K.C.C Limit, for agricultural purpose. To secure the loan, Defendant No.1 had mortgaged his land (fully detailed in para No.3A of the application). Defendant No.3 stood as guarantor. The loan was chargeable to interest @12.50%

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per annum with half-yearly rests. On 06.05.2022, a sum of Rs.80,06,297/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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3. On 23.09.2022, summonses were sent to the defendants by
registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 02.02.2024, they were proceeded_ex_ parte.
4. In order to prove its case, the Bank has placed on record the
affidavit of Sh. Gursewak Singh, Assistant Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-9.
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.50.00 Lacs and on 06.05.2022, a sum of Rs.80,06,297/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.80,06,297/- (Rupees Eighty Lacs Six Thousand Two Hundred Ninety Seven Only) with interest @12.50% per annum with half-yearly rests from 07.09.2022, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. 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 defendants.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on
07.05.2025,who is directed to distribute the sale proceeds of the
mortgaged property(ies) and standing crops as per the provisions of Section 19(20-AB) of the Act.

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A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties. Pronounced in the open Court. (A S Narang) Dated: 07.04.2025 Presiding Officer DRT-1, Chandigarh

Canara Bank v. Arjan Dev

Case brief

What is this about?

What did the court decide?

Canara Bank v. Arjan Dev

Case brief

What is this about?

What did the court decide?

What the court decided

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