Allowed

Punjab National Bank v. Kharak Singh

DRT28 Jul 2025OA/2123/2022

Case brief

AI extract

What is this about?

In an ex parte application, Debts Recovery Tribunal-I, Chandigarh allowed the Punjab National Bank recovery of Rs. 37.63 Lakhs plus interest granted under a KCC limit against the defendant after perusing the evidence on record and confounding the loan discharge.

What did the court decide?

Application for recovery of Rs. 37,63,521/- with interest allowed. Recovery certificate issued. Respondent directed to appear before Recovery Officer on 03.09.2025.

Punjab National Bank versus Kharak Singh — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 2123 of 2022 Date of Institution: 04.11.2022 Date of Decision: 28.07.2025 Punjab National Bank having its branches all over India and a branch at ……..Applicant Vs.

¶4

Punjab National Bank having its branches all over India and a branch at Talwandi Bharath, Punjab.

¶5

Kharak Singh s/o Dalip Singh r/o Village Allowal Tehsil Batala, District Gurdaspur, Punjab.

¶6

……….Defendant

¶7

Advocates

¶8

Sh. Bharat Kawal proxy counsel for KS Manhas, Counsel for the applicant bank. Defendant - ex parte .

¶9

OA for the Recovery of Rs.37,63,521/- with interest @8.95% per annum with yearly rests from 04.11.2022.

¶10

ORDER

¶11

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. 37,63,521/- with interest against Kharak Singh (defendant).

¶12

Bank’s case is that on 05.02.2013, it had granted a loan of Rs.15.00Lacs enhanced to Rs.20.00Lacs on 04.06.2013, to defendant in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to interest @8.95% per annum with yearly rests. Defendant had duly acknowledged his liability towards the debt on 14.11.2014, 21.06.2017 and 21.03.2020. On 08.09.2022, a sum of Rs.37,63,521/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

¶13

¶14

On 06.12.2022, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 21.08.2023, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Avtar Chand, Senior Manager 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.20.00Lacs and on 08.09.2022, a sum of Rs.37,63,521/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.37,63,521/- (Rupees Thirty Seven Lacs Sixty Three Thousand Five Hundred and Twenty One 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 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 is directed to appear before Recovery Officer on 03.09.2025, who is directed to distribute the sale proceeds of the mortgaged property(ies) 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.

¶15

Pronounced in the open Court.	(A S Narang)
Dated: 28.07.2025	Presiding Officer
	DRT-1, Chandigarh

Punjab National Bank v. Kharak Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Kharak Singh

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Hdfc Bank Limited versus Sai Enterprises

Idbi Bank versus Anand Kumar

Axis Bank versus Ajeet Kumar

Sri Anant Kumar Agarwal versus Icici Bank Limited

Gopal Dass versus Union Bank of India

State Bank of India versus Harjinder Singh