This order allows an application filed by Punjab National Bank for recovery of Rs. 28,86,245/- with interest from two defendants who failed to repay an agricultural loan secured by a mortgage on their land.
Recovery of Rs. 28,86,245/- with interest allowed; recovery certificate to be issued; sale of mortgaged property directed.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 2150 of 2022 Date of Institution: 31.10.2022 Date of Decision: 29.10.2025
Punjab National Bank having its branches all over India and a branch at Village Wadala Granthian, Tehsil Batala, District Gurdaspur, Punjab.
……..Applicant
Vs.
……….Defendants
Advocates
Sh. S.N. Sharma through VC, Counsel for the applicant bank. Defendants - ex parte .
OA for the Recovery of Rs.28,86,245/- with interest @8.50% per annum with half-yearly rests from 31.10.2022.
ORDER
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| defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application. |
|---|
| 3. 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 13.03.2024, they were proceeded_ex_ parte. |
| 4. In order to prove its case, the Bank has placed on record the |
| affidavit of Mr. Raj Kumar, Senior Manager along with the loan and security documents and marked them as Exhibit A-1 to A-20. |
| 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.020.00Lacs and on 30.09.2022, a sum of Rs.28,86,245/- was due. |
| 6. Accordingly, the application of the bank for the recovery of |
| Rs.28,86,245/- (Rupees Twenty Eight Lacs Eighty Six Thousand Two Hundred and Forty Five Only) with interest @8.50% per annum with half- yearly rests from 31.10.2022, 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. 7. Pending IAs, if any, stand disposed of. |
| 8. Recovery Certificate be issued accordingly. |
| 9. Parties are directed to appear before Recovery Officer on |
| **02.12.2025,**who is directed to distribute the sale proceeds of the |
| mortgaged property(ies) and standing crops as per the provisions of Section 19(20-AB) of the Act**.** |
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1 issue framed by the court
Whether the application for recovery of debt is maintainable under Section 19 of the RDB Act.
2 provisions across 1 enactments
Punjab National Bank
Piara Singh
Smt. Davinder Kaur
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
