The Debts Recovery Tribunal allowed the bank's application for recovery of dues secured by a mortgage and granted authority to recover certificate.
Recovery of Rs.30,67,098/- with interest and costs allowed; Recovery Officer to distribute sale proceeds.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 2078/2022 Date of Institution: 12.10.2022 Date of Decision: 08.04.2025
SBI, having its branches all over India and a branch at ADB Phillaur, Distt. Jalandhar, Punjab.
……..Applicant Vs.
Sh. Ghudda Singh s/o Sh. Gurnam Singh, r/o Village Dholanwal, PO Chaunta, Distt. Ludhiana, Punjab.
……….Defendant
Advocates Ms.Lovedeep Kaur, proxy for Ms. Puja Sharma, Counsel for the applicant bank. Defendant - ex parte . OA for the Recovery of Rs.30,67,098/- with interest @10.35% per annum with half-yearly rests from 12.10.2022.
ORDER
2
| 3. On 22.11.2022, summonses were sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 06.10.2023, he was proceeded_ex parte_. |
|---|
| 4. In order to prove its case, the Bank has placed on record the |
| affidavit of Sh. Pradeep Kumar Chauhan, Branch Manager along with |
| the loan and security documents and marked them as Ex. A-1 to A-12. |
| 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.20.00 Lacs and on 17.04.2022, a sum of Rs.30,67,098/- was due. |
| 6. Accordingly, the application of the bank for the recovery of |
| Rs.30,67,098/- (Rupees Thirty Lacs Sixty Seven Thousand Ninety Eight |
| Only) with interest @10.35% per annum with half-yearly rests from |
| 12.10.2022, till the date of payment is hereby allowed with costs. 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 defendant. |
| 7. Pending IAs, if any, stand disposed of. |
| 8. Recovery Certificate be issued accordingly. |
| 9. Party are directed to appear before Recovery Officer on |
| **08.05.2025,**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: 08.04.2025 Presiding Officer DRT-1, Chandigarh |
1 issue framed by the court
Whether the bank is entitled to recover dues from mortgaged property upon failure of repayment.
1 provisions across 1 enactments
SBI
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
