Debts Recovery Tribunal allowed an application filed by Punjab National Bank for recovery of Rs. 25,80,478.31 p with interest from the defendant, who failed to repay a KCC loan mortgaged against agricultural land.
Allowed recovery of Rs. 25,80,478.31 p with interest; directed sale of mortgaged property.
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: 260 of 2023 Date of Institution: 14.01.2023 Date of Decision: 28.05.2025
Punjab National Bank, having one of its Branch situated at Prabhat Chowk, Distt. Hoshiarpur, Punjab.
……..Applicant
Vs.
Mr. Onkar Nath S/o Late Sh. Polo Ram, R/o Village Khalwana, PO Piplanwala, District Hoshiarpur, Punjab.
……….Defendant
Advocates
Sh. Mohinder Nath Sharma, Counsel for the applicant bank. Defendant- Ex parte.
OA for the Recovery of Rs.25,80,478.31p with interest @11% per annum with half yearly rests from the date of filing the present application i.e. 14.01.2023.
ORDER
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Despite repeated requests, defendant did not make the repayment. Hence, this application.
| 3. On 17.02.2023, summons was sent to the defendant by registered |
|---|
| post, which was duly served. However, defendant did not put in |
| appearance.Vide_order dated 31.01.2024, he was proceeded_ex parte. |
| 4. In order to prove its case, the Bank has placed on record the |
| affidavit of Mr. Kulwinder Ram, Senior Manager along with the loan and security documents and marked them as Exhibit A-1 to A-26. |
| 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 KCC |
| Loan of Rs.20.00 lacs and on 31.12.2022, a sum of Rs.25,80,478.31p was due. |
| 6. Accordingly, the application of the bank for the recovery of |
| Rs.25,80,478.31p (Rupees Twenty Five Lacs Eighty Thousand Four |
| Hundred Seventy Eight And Paisa Thirty One Only) with interest @11% |
| per annum with half yearly rests from the date of filing the present |
| application i.e. 14.01.2023, till the date of payment is hereby allowed |
| with costs. Bank can recover its dues by the sale of mortgaged property |
| i.e. agricultural land admeasuring 47Kanal 4Marla, situated at Village |
| Khalwana, Hadbast No.215, Tehsil and District Hoshiarpur, Punjab |
| (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 |
| 07.07.2025, who is directed to distribute the sale proceeds of the |
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mortgage property and standing crops as per the provisions of Section 19(20-AB) of the Act .
(R. K. Singh, PS)
1 issue framed by the court
Whether the applicant bank is entitled to recover the outstanding dues along with interest from the defendant?
2 provisions across 1 enactments
Punjab National Bank
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
