Allowed

Punjab National Bank (Oriental Bank of Commerce) v. Sh. Santokh Singh

DRT25 Aug 2025OA/9/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application by Punjab National Bank for recovery. The court found the loan and debt proven, granted the recovery of principal and interest, and directed a Recovery Officer to sell mortgaged land and standing crops.

What did the court decide?

Recovery of Rs. 34,11,638/- with interest; order for sale of mortgaged land and standing crops; issue of Recovery Certificate.

Punjab National Bank (Oriental Bank of Commerce)… — 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: 09/2023 Date of Institution: 29.11.2022 Date of Decision: 25.08.2025

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Punjab National Bank (erstwhile Oriental Bank of Commerce) having its branches all over India and a branch at Mehta Road, Nawanpind, Distt. Amritsar, Punjab.

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……..Applicant

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Vs.

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Sh. Santokh Singh s/o Sh. Piara Singh, r/o H.No.16, part-1, Village Makhan Windi, Tehsil Amritsar, Distt. Amritsar, Punjab.

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Sh. Balvir Singh s/o Sh. Santokh Singh, r/o H.No.16, part-1, Village Makhan Windi, Tehsil Amritsar, Distt. Amritsar, Punjab.

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……….Defendants

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Advocates

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Sh. Manish Singla (through VC), Counsel for the applicant bank. Defendants - ex parte vide order dated 22.11.2023 .

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OA for the Recovery of Rs.34,11,638/- with interest @13.75% per annum with half-yearly rests from 29.11.2022.

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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.34,11,638/- with interest against Sh. Santokh Singh and another (defendants).

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Bank’s case is that on 04.03.2013, it had granted a loan of Rs.20.50 Lacs to defendant Nos. 1 & 2 in the form of OGC Limit for agricultural purpose. To secure the loan, Defendant No.1 had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to interest @13.75% per annum with half-yearly rests. On 02.10.2022, a sum

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of Rs.34,11,638/- was due from the defendants. The defendants had duly acknowledged their liability towards the debt on 02.03.2016 & 15.09.2018 & 03.07.2021. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 10.01.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 22.11.2023, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Amit, Authorized Officers 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.20.50 Lacs and on 02.10.2022, a sum of Rs.34,11,638/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.34,11,638/- (Rupees Thirty Four Lacs Eleven Thousand Six Hundred Thirty Eight Only) with interest @13.75% per annum with half-yearly rests from 29.11.2022, 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 03.10.2025, who is directed to distribute the sale proceeds of the mortgaged land and standing crops as per the provisions of Section 19(20AB) 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: 25.08.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank (Oriental Bank of Commerce) v. Sh. Santokh Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank (Oriental Bank of Commerce) v. Sh. Santokh Singh

Case brief

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What did the court decide?

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