Allowed

Punjab National Bank v. Sh Hari Thakur @ Hari Ram

DRT25 Jul 2025OA/2084/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of Rs. 24,13,276/- with interest against the defendants. The bank proved the loan advance and due amount via affidavit documents, as defendants did not appear. A recovery certificate was issued.

What did the court decide?

Recovery of Rs. 24,13,276/- with interest and costs; issuance of Recovery Certificate; directive for sale of mortgaged land and distribution of proceeds.

Punjab National Bank versus Sh Hari Thakur @ Hari… — 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: 2084/2022 Date of Institution: 11.10.2022 Date of Decision: 25.07.2025

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Punjab National Bank having its branches all over India and a branch at VPO Seobagh Tehsil & District Kullu, Himachal Pradesh.

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……..Applicant

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Vs.

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Sh. Hari Thakur @Hari Ram s/o Sh. Gautam Chand, r/o VPO Seobagh Tehsil & District Kullu, Himachal Pradesh.

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Sh. Prem Chand s/o Sh. Gautam Chand, VPO Seobagh Tehsil & District Kullu, Himachal Pradesh.

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……….Defendants

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Advocates

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Ms. Neha Arora proxy counsel for Sh. R.K. Bansal, Counsel for the applicant bank. Defendants - ex parte vide order dated 20.09.2023 .

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OA for the Recovery of Rs.24,13,276/- with interest @8.50% per annum with monthly rests from 11.10.2022.

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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.24,13,276/- with interest against Sh. Hari Thakur and another (defendants).

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Bank’s case is that on 12.03.2018, it had granted a loan of Rs.17.00 Lacs to defendant No.1 in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant No.1 had mortgaged his land (fully detailed in para No.3A of the application). Defendant No.2 stood as guarantor. The loan was chargeable to interest @8.50% per annum with monthly rests. On 10.10.2022, a sum of Rs.24,13,276/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 20.12.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 20.09.2023, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Rajesh Kumar, Authorized Officer along with the loan and security documents and marked them as Exhibit A-1 to A-17. 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.17.00 Lacs and on 10.10.2022, a sum of Rs.24,13,276/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.24,13,276/- (Rupees Twenty Four Lacs Thirteen Thousand Two Hundred Seventy Six Only) with interest @8.50% per annum with monthly rests from 11.10.2022, till the date of payment is hereby allowed with costs. The liability of both 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.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 02.09.2025, 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 . 10. 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: 25.07.2025 Presiding Officer DRT-1, Chandigarh

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MANOJ KALRA

Punjab National Bank v. Sh Hari Thakur @ Hari Ram

Case brief

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Punjab National Bank v. Sh Hari Thakur @ Hari Ram

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