Allowed

Punjab National Bank v. Sh. Resham Singh

DRT5 Jul 2025OA/1947/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an applicant bank's application for recovery of Rs. 46,74,732/- with interest against respondents who defaulted on a loan secured by mortgaged property, despite the respondents appearing ex parte. The court directed the issuance of a recovery certificate. It empowered the appointed Recovery Officer to distribute sale proceeds from the mortgaged property and stan

What did the court decide?

Recovery of Rs. 46,74,732/- with interest allowed with costs; Recovery Certificate issued; Recovery Officer appointed to distribute sale proceeds.

Punjab National Bank versus Sh. Resham 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: 1947 of 2024 Date of Institution: 10.12.2024 Date of Decision: 05.07.2025

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Punjab National Bank having its branches all over India and a branch at Wadala Granthian, District Gurdaspur, Punjab.

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……..Applicant

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Vs.

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Sh. Resham Singh s/o Sh. Kashmir Singh r/o H.no. 361, Village Mathola, Tehsil Batala, District Gurdaspur, Punjab.

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Mandeep Singh s/o Sh. Kasmir Singh r/o H.no. 361, Village Mathola, Tehsil Batala, District Gurdaspur, Punjab.

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Smt. Amarjit Kaur w/o Sh. Kashmir Singh r/o H.no. 361, Village Mathola, Tehsil Batala, District Gurdaspur, Punjab.

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……….Defendants

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Advocates

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Sh. Nisha Meena, Nodal Officer for the applicant bank. Defendants - ex parte .

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OA for the Recovery of Rs.46,74,732/- with interest @11.50% per annum with half-yearly rests from 10.12.2024.

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ORDER

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Punjab National 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. 46,74,732/- with interest against Sh. Resham Singh and others (defendants).

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Bank’s case is that on 25.08.2014, it had granted a loan of Rs.20.00Lacs to Defendant nos. 1, 2 and 3 in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant nos. 1, 2 and 3 had mortgaged their property (fully detailed in para No.3A of the application). The loan was chargeable to interest @11.50% per annum with half-yearly rests. On 25.08.2024, a sum of Rs.46,74,732/- was due from the

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defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3. On 06.01.2025, summonses were sent to the defendants by
registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 02.07.2025, they were proceeded_ex_ parte.
4. In order to prove its case, the Bank has placed on record the
affidavit of Mr. Raj Kumar, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-11.
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.20.00Lacs and on 25.08.2024, a sum of Rs. 46,74,732/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.46,74,732/- (Rupees Forty Six Lacs Seventy Four Thousand Seven
Hundred Thirty Two Only) with interest @11.50% per annum with half- yearly rests from 10.12.2024, 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 property 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
12.08.2025,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: 05.07.2025 Presiding Officer DRT-1, Chandigarh Amanpreet (Law Researcher)

Punjab National Bank v. Sh. Resham Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Sh. Resham Singh

Case brief

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What did the court decide?

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