The Debts Recovery Tribunal allowed the Bank's application for recovery of Rs. 45,18,218/- with interest. The bank established the loan advances and the defendants' default under Credit Card and FITL facilities.
Recovery of Rs. 45,18,218/- with interest allowed; Recovery Certificate issued; Liability declared joint and several.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 2128 of 2022 Date of Institution: 07.06.2022 Date of Decision: 20.05.2025
SBI, having one of its local head office at Sector 17, Chandigarh and having branches at different places and one of its RACC Branch at Fazilka, District Fazilka, Punjab.
Vs.
……….Defendants
Advocates
Sh. Aseem Kataria, Counsel for the applicant bank. Defendants- Ex parte.
OA for the Recovery of Rs.45,18,218/- with interest @13% per annum with monthly rests from 13.05.2022. ORDER
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immovable property i.e. land admeasuring 1 Kanal 17.5 Marlas, situated at Abohar-Malout Road Bye Pass Back Side of Taj Marbles, Abohar, Punjab (fully detailed in para No.3A of the application). The loan was chargeable to interest @13% per annum with monthly rests. At the request of defendants, the said facility was renewed from time to time.
2(i). Again on 17.08.2015, at the request of defendant no.1 through its proprietor defendant no.2, bank had enhanced the existing CC limit from Rs.11.00 lacs to Rs.30.00 lacs. Defendant no.3 stood as guarantor as well as mortgagor. To secure the loan, Defendant no.3 had mortgaged his immovable property i.e. land admeasuring 1 Kanal 17.5 Marlas, situated at Abohar-Malout Road Bye Pass Back Side of Taj Marbles, Abohar, Punjab (fully detailed in para No.3A of the application). The said loan facility was chargeable to interest @12.65% per annum with monthly rests. Thereafter, in the month of March, 2020, bank had granted FITL of Rs.2,44,014/- to defendant no.1 through its proprietor defendant no.2 due to Covid-19 Pandemic. On 04.04.2013, defendants had executed the balance and security confirmation letter. On 12.05.2022, a sum of Rs.45,18,218/- was due from the defendants i.e. Rs. 42,34,248/- in Cash Credit Loan facility and Rs.2,83,970/- in FITL Loan facility. Despite repeated requests, defendants did not make the repayment. Hence, this application.
| 4. In order to prove its case, the Bank has placed on record the |
|---|
| affidavit of Mr. Nand Kishore Prasad, Chief Manager along with the loan |
| and security documents and marked them as Exhibit A-1 to A-27. |
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1 issue framed by the court
Whether the bank proved its case regarding the outstanding dues under the Credit Card and FITL loans against the defendants.
1 provisions across 1 enactments
SBI
M/s Hans Raj and Sons
Sh. Ved Parkash
Sh. Sagar Aneja
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
