Authored by A S Narang, Presiding Officer of DRT-I Chandigarh, this order allowed an applicant bank for recovery of Rs. 21,33,410/- with interest against a defendant who failed to repay a KCC loan of Rs. 18.00 Lacs mortgaged by him.
Recovery of Rs. 21,33,410/- with interest granted via sale of mortgaged property and personal assets; Recovery Certificate issued.
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: 2238 of 2022 Date of Institution: 22.11.2022 Date of Decision: 15.01.2025
State Bank of India having branches all over India having a branch at Village Beas Pind, Pathankot Road, District Jalandhar, Punjab.
……..Applicant Vs.
Sh. Hardeep Singh s/o Sh. Pritam Singh r/o Village Rastgo Madhopur, Tehsil Bhogpur, District Jalandhar, Punjab.
……….Defendant
Advocates
Sh. Rajnish K Jindal, Counsel for the applicant bank. Defendant – ex parte
OA for the Recovery of Rs. 21,33,410/- with interest @ 10.90% per annum with half-yearly rests from 22.11.2022.
ORDER
2
| 3. On 06.01.2023, summonses were sent to the defendant by registered post, which was duly served. However, defendant did not put |
|---|
| in appearance. Vide order dated 09.01.2024, he was proceeded_ex parte_. |
| 4. In order to prove its case, the Bank has placed on record the |
| affidavit of Mr. Tejinder Pal Singh, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-9. |
| 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. 18.00 Lacs and on 04.11.2022 a sum of Rs. 21,33,410/-was due. |
| 6. Accordingly, the application of the bank for the recovery of Rs. |
| 21,33,410/- (Rupees Twenty One Lacs Thirty Three Thousand Four |
| Hundred Ten Only) with interest @10.90% per annum with half-yearly |
| rests from 22.11.2022, 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. Parties are directed to appear before Recovery Officer on |
| **17.02.2025,**who is directed to distribute the sale proceeds of the |
| mortgage 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 parties. |
| Pronounced in the open court. (A S Narang) Dated:15.01.2025 Presiding Officer DRT-1, Chandigarh |
2 issues framed by the court
Whether the recovery application filed under Section 19 of the RDB Act for the loan amount with interest is maintainable.
Whether the debt of Rs. 21,33,410/- with interest at 10.90% per annum is proved against the defendant.
1 provisions across 1 enactments
State Bank of India
Sh. Hardeep Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
