Canara Bank v. Shri Avtar Singh

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

BEFORE: A S NARANG, PRESIDING OFFICER

OA No: 293/2022 Date of Institution: 05.02.2022 Date of Decision: 22.10.2025 Canara Bank, having its branches all over India and a branch at Village and Post Office Bundala, Tehsil & District Amritsar, Punjab. ……..Applicant Vs. Sh. Avtar Singh s/o Sh. Nirvail Singh, r/o H.No.174, Dera Hundal Har, Village & Post Office Bundala, Tehsil & District Amritsar, Punjab. ……….Defendant

Advocates

Sh. Navdeep Singh, Counsel for the applicant bank. Defendant- ex parte vide order dated 18.12.2024 . OA for the Recovery of Rs.21,40,500/- with interest @11.05% per annum with half-yearly rests from 05.02.2022.

ORDER 1. Canara 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.21,40,500/- with interest against Sh. Avtar Singh (defendant). 2. Bank’s case is that on 30.06.2015, it had granted a loan of Rs.10.00 Lacs, which was duly enhanced upto Rs.14.64 Lacs to defendant in the form of K.C.C Limit, for agricultural purpose. To secure the loan, Defendant had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to interest @11.05% per annum with half-yearly rests. Defendant had duly acknowledged his liability towards the debt on 27.12.2017 & 18.10.2020. On 31.01.2022, a sum of Rs.21,40,500/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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