The DRT allowed the bank application filed under Section 19 for recovery of a loan of Rs.20 Lacs. Due amount was Rs.27,10,405.98 with interest. Recovery by sale of mortgaged land as well as from personal property.
Rs.27,10,405.98 with interest @11.60% p.a. to be recovered from mortgaged land and personal property of defendants.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 1909/2022
Date of Institution: 08.09.2022 Date of Decision: 19.02.2025
Union Bank of India, having its branches all over India and a branch at Near Old Sabji Mandi, PNB Road, Tehsil Jalalabad, District Fazilka, Punjab.
……..Applicant
Vs.
……….Defendants
Advocates
Ms.Ritika proxy for Sh.MN Sharma,Counsel for the applicant bank. Defendants ex parte .
OA for the Recovery of Rs.27,10,405.98p with interest @ 11.60% per annum with half-yearly rests from 08.09.2022.
ORDER
2
Defendant No.2 and 3 stood as guarantors. The loan was chargeable to interest @11.60% per annum with half-yearly rests. On 31.08.2022, a sum of Rs.27,10,405.98p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3
1 issue framed by the court
Whether the applicants are entitled to recover the dues along with interest against the respondents on a personal as well as on mortgage land?.
1 provisions across 1 enactments
Union Bank of India
Sh. Sher Lakhvir Singh
Mr. Bakshish Singh
Mr. Gurmit Singh
A S Narang
Presiding Officer
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
