Allowed

Punjab National Bank v. Bikramjit Singh

DRT19 May 2025OA/263/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by Punjab National Bank for recovery of a mortgage loan of Rs.22,17,232.80p with interest. The court ruled in favor of the bank and directed the issuance of a Recovery Certificate.

What did the court decide?

Recovery of Rs.22,17,232.80p with interest @9.80% per annum and costs allowed; Recovery Certificate issued; Recovery Officer directed to sell mortgaged land.

Punjab National Bank versus Bikramjit Singh — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 263 of 2023 Date of Institution: 18.01.2023 Date of Decision: 19.05.2025

¶4

Punjab National Bank, having its branches all over India and a branch at Kutbi Nangal, Batala, District Gurdaspur, Punjab.

¶5

……..Applicant

¶6

Vs.

¶7

Sh. Bikramjit Singh s/o Sh. Manjit Singh

¶8

Smt. Balwinder Kaur w/o Sh. Manjit Singh Both r/o Village Kala Nangal, P.O. Bhullar, Tehsil Batala, District Gurdaspur, Punjab.

¶9

……….Defendants

¶10

Advocates

¶11

Sh. Ankit Kaushal, Counsel for the applicant bank. Defendants- ex parte vide order dated 30.01.2024 .

¶12

OA for the Recovery of Rs.22,17,232.80p with interest @9.80% per annum with yearly rests from 18.01.2023.

¶13

ORDER

¶14

Punjab National 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.22,17,232.80p with interest against Sh. Bikramjit Singh and another (defendants).

¶15

Bank’s case is that on 25.08.2010, it had granted a loan of Rs.10.00 Lacs to defendant Nos. 1 and 2 in the form of K.C.C Limit, for agricultural purpose. To secure the loan, Defendant Nos. 1 and 2 had mortgaged their land (fully detailed in para No.3A of the application). The loan was chargeable to interest @9.80% per annum with yearly rests. On 02.10.2022, a sum of Rs.22,17,232.80p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

¶16

¶17

On 17.02.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 31.01.2024, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Ms. Monika Verma, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-13. 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.10.00 Lacs and on 02.10.2022, a sum of Rs.22,17,232.80p was due. 6. Accordingly, the application of the bank for the recovery of Rs.22,17,232.80p (Rupees Twenty Two Lacs Seventeen Thousand Two Hundred Thirty Two and Eighty Paise Only) with interest @9.80% per annum with yearly rests from 18.01.2023, 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 23.06.2025 , who is directed to distribute the sale proceeds of the mortgaged land and standing crops 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: 19.05.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Bikramjit Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Bikramjit Singh

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Hdfc Bank versus Puneet Saini

Idbi Bank Limited versus Mr. Dhananjay Pant

Hdfc Bank versus Sh. Ashwani Kumar

State Bank of India versus Sh. Paramjit Singh

Gk Exim versus Punjab National Bank

Ghulam Mohammad Dar versus Jammu and Kashmir Bank Limited