Allowed

Punjab National Bank v. Achhar Singh

DRT20 Aug 2025OA/2089/2022

Case brief

AI extract

What is this about?

The applicant bank filed an application before the Debt Recovery Tribunal under Section 19 of the RDB Act for recovery of dues of Rs.22,42,945/- with interest against the respondent-defendant, resulting in the allowance of the application and direction to issue a Recovery Certificate.

What did the court decide?

Application allowed; recovery of Rs.22,42,945/- with interest @8.95% p.a.; recovery certificate issued; recovery officer directed to distribute sale proceeds.

Punjab National Bank versus Achhar Singh — Execution and Attachment | 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: 2089 of 2022 Date of Institution: 04.11.2022 Date of Decision: 20.08.2025

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Punjab National Bank having branches all over India having a branch at Circle Sastra Centre, Pathankot, Punjab.

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……..Applicant Vs.

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Achhar Singh s/o Baldev Singh r/o Village Kala Afgana, Tehsil Batala, District Gurdaspur, Punjab.

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……….Defendant

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Advocates

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Sh. Bharat Kawal proxy counsel For Sh. Kulbhushan Singh Manhas, Counsel for the applicant bank.

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Defendant – ex parte

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OA for the Recovery of Rs.22,42,945/- with interest @8.95% per annum with yearly rests from 04.11.2022.

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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.22,42,945/- with interest against Sh. Achhar Singh.

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Bank’s case is that on 01.09.2016, it had granted a loan of Rs.20.00 Lacs to the Defendant in the form of K.C.C. Limit. To secure the loan, Defendant had mortgaged property (fully detailed in para No.3A of the application). The loan was chargeable to interest @8.95% per annum with yearly rests. The defendants had duly acknowledged their liability towards the debt on 23.04.2019 and 09.02.2022. On 14.09.2022, a sum of Rs.22,42,945/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 22.11.2022, summonses were sent to the defendant by registered post, which were duly served. However, defendant did not put in appearance. Vide order dated 07.07.2023, he was proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Gurpreet Singh, Officer 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.20.00 Lacs and on 14.09.2022, a sum of Rs.22,42,945/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.22,42,945/- (Rupees Twenty Two Lacs Forty Two Thousand Nine Hundred Forty Five Only) with interest @8.95% per annum with yearly rests from 04.11.2022, till the date of payment is hereby allowed with costs. 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 defendant. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Party is directed to appear before Recovery Officer on 29.09.2025, who is directed to distribute the sale proceeds of the mortgage property 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 parties. Pronounced in the open court. (A S Narang) Dated: 20.08.2025 Presiding Officer DRT-1, Chandigarh

Punjab National Bank v. Achhar Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Achhar Singh

Case brief

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What did the court decide?

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