Allowed

Indian Bank (Allahabad Bank) v. Sh. Dilbagh Singh

DRT10 Mar 2025OA/2146/2022

Case brief

AI extract

What is this about?

The Tribunal allowed the bank's application for recovery of Rs.29,97,432/- with interest against two defendants who failed to repay agricultural loans. The court ordered a Recovery Certificate for sale of mortgaged land and appearance before the Recovery Officer.

What did the court decide?

Recovery of Rs.29,97,432/- with interest allowed; Recovery Certificate issued; direction to sale mortgaged land.

Indian Bank (Allahabad Bank) versus Sh. Dilbagh… — 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: 2146/2022 Date of Institution: 20.09.2022 Date of Decision: 10.03.2025

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Indian Bank (erstwhile Allahabad Bank) having its branches all over India and a branch at Sultanwind Road, Amritsar, Punjab.

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……..Applicant

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Vs.

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Sh. Dilbagh Singh s/o Sh. Gurdial Singh.

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Sh. Gurdial Singh s/o Sh. Tarlok Singh. Both are residents of VPO. Chattiwind, Tehsil and District Amritsar, Punjab.

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……….Defendants

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Advocates

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Ms. Neha Arora, proxy Counsel for Mr. Akhilesh Vyas, Counsel for the applicant bank. Defendants - ex parte . OA for the Recovery of Rs.29,97,432/- with interest @9.95% per annum with half-yearly rests from 20.09.2022.

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ORDER

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Indian 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.29,97,432/- with interest against Sh. Dilbagh Singh and another (defendants).

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Bank’s case is that on 30.05.2009, it had granted a C.C Limit of Rs.5.00 Lacs which was enhanced to Rs.15.00 Lacs and a Term Loan of Rs.15.00 Lacs which was enhanced to Rs.20.00 Lacs to Defendant Nos. 1 and 2 for agricultural purpose and dairy farming. To secure the loan, Defendant No.2 had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to interest @9.95% per annum with half-yearly rests. On 06.08.2022, a sum of Rs.29,97,432/- was due

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from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 09.12.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 15.01.2024, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Shri Himanshu Yadav, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-25. 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.35.00 Lacs under various schemes and on 06.08.2022, a sum of Rs.29,97,432/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.29,97,432/- (Rupees Twenty Nine Lacs Ninety Seven Thousand Four Hundred Thirty Two Only) with interest @9.95% per annum with halfyearly rests from 20.09.2022, 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. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 08.04.2025, who is directed to distribute the sale proceeds of the mortgaged land as per the provisions of Section 19(20-AB) of the Act .

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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: 10.03.2025 Presiding Officer DRT-1, Chandigarh

Indian Bank (Allahabad Bank) v. Sh. Dilbagh Singh

Case brief

What is this about?

What did the court decide?

Indian Bank (Allahabad Bank) v. Sh. Dilbagh Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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