Allowed

Punjab National Bank v. Sh Yadwinder Singh

DRT17 Sept 2025OA/1994/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the application by Punjab National Bank for recovery of Rs.27,67,328/- with interest against the defendant. The Bank proved the loan of Rs.18 Lakhs granted, the subsequent dues, and the defendant's failure to repay despite summons. Dues are to be recovered via sale of mortgaged properties.

What did the court decide?

Recovery of Rs.27,67,328/- with interest allowed; Recovery Certificate issued; Recovery by sale of mortgaged land and personal properties directed.

Punjab National Bank versus Sh Yadwinder 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: 1994/2022 Date of Institution: 27.09.2022 Date of Decision: 17.09.2025

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Punjab National Bank having its branches all over India and a branch at Aliwal, Distt. Gurdaspur, Punjab.

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……..Applicant Vs.

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Sh. Yadwinder Singh s/o Sh. Kashmir Singh, r/o H.No.122, VPO Kashtiwal, Tehsil Batala, Distt. Gurdaspur, Punjab.

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……….Defendant

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Advocates

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Ms. Lovedeep Kaur proxy counsel for Ms. Puja Sharma, Counsel for the applicant bank.

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Defendant- ex parte vide order dated 04.09.2023 .

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OA for the Recovery of Rs.27,67,328/- with interest @8.95% per annum with half-yearly rests from 27.09.2022.

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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.27,67,328/- with interest against Sh. Yadwinder Singh (defendant).

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Bank’s case is that on 15.10.2016, it had granted a loan of Rs.18.00Lacs to defendant in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant had mortgaged his land and hypothecated crops, stocks (fully detailed in para No.3A of the application). The loan was chargeable to interest @8.95% per annum with half-yearly rests. The defendant had duly acknowledged his liability towards the debt on 31.07.2019 & 20.06.2022. On 23.08.2022, a sum of Rs.27,67,328/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 14.10.2022, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 04.09.2023, he was proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Sh. Gurpreet Singh, Deputy Manager along with the loan and security documents and marked them as Exhibit A-1 to A-13. 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.18.00 Lacs and on 23.08.2022, a sum of Rs.27,67,328/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.27,67,328/- (Rupees Twenty Seven Lacs Sixty Seven Thousand Three Hundred Twenty Eight Only) with interest @8.95% per annum with halfyearly rests from 27.09.2022, till the date of payment is hereby allowed with costs. Bank can recover its dues by the sale of mortgaged land and hypothecated crops, stocks etc. fully detailed in para No.3A of the application as well as from the personal movable and immovable property(ies) of the defendant.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Party is directed to appear before Recovery Officer on 28.10.2025, 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: 17.09.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Sh Yadwinder Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Sh Yadwinder Singh

Case brief

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