The Debts Recovery Tribunal allowed the bank's ex parte application for recovery of Rs.37,42,980/- with interest, following proof of a loan and mortgage documents, and directed issuance of a Recovery Certificate.
Recovery of Rs.37,42,980/- with interest; Recovery Certificate issued; appearance before Recovery Officer directed.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 2172 of 2022 Date of Institution: 04.11.2022 Date of Decision: 24.01.2025
Punjab National Bank having branches all over India having a branch at Talwandi Bharth, Punjab
……..Applicant Vs.
Harjit Singh s/o Sudagar Singh r/o Village Sirah Tehsil batala, District Gurdaspur
……….Defendant
Advocates
Sh. Bharat Kawal, proxy Counsel for Sh. Kulbhushan Singh Manhas, Counsel for the applicant bank.
Defendant – ex parte
OA for the Recovery of Rs.37,42,980/- with interest @8.95% per annum with yearly rests from 04.11.2022.
ORDER
2
| 3. On 15.12.2022, summons was sent to the defendants by registered |
|---|
| post, which was duly served. However, defendant did not put in |
| appearance. Vide order dated 19.09.2023, he was 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.20.00 Lacs and on 08.09.2022, a sum of Rs.37,42,980/- was due. |
| 6. Accordingly, the application of the bank for the recovery of |
| Rs.37,42,980/- (Rupees Thirty Seven Lacs Forty Two Thousand Nine Hundred Eighty 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 |
| 25.02.2025, who is directed to distribute the sale proceeds of the |
| mortgaged 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 party. |
| Pronounced in the open court. (A S Narang) Dated: 24.01.2025 Presiding Officer DRT-1, Chandigarh |
1 issue framed by the court
Whether the applicant bank is entitled to recover the decretal amount of Rs.37,42,980/- along with interest.
2 provisions across 1 enactments
Punjab National Bank
Harjit Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
