Allowed

State Bank of India v. Sh. Balbir Singh

DRT29 Apr 2025OA/313/2023

Case brief

AI extract

What is this about?

DRT-1 Chandigarh allowed an application filed by State Bank of India for recovery of Rs.45 lakhs plus interest against two defendants who defaulted on an agricultural loan, directing joint and several liability and scheduling the sale of mortgaged lands.

What did the court decide?

Application for recovery of Rs.45,57,326 with interest allowed with costs; recovery certificate issued; parties directed to appear for distribution of sale proceeds.

State Bank of India versus Sh. Balbir Singh — Insolvency and Bankruptcy | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 313/2023

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Date of Institution: 02.02.2023 Date of Decision: 29.04.2025

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SBI having its branches all over India and a branch at Village Apra, Tehsil Phillaur, Distt. Jalandhar, Punjab.

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……..Applicant

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Vs.

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Sh. Balbir Singh s/o Sh. Udho Singh, r/o VPO Dyalpur, Tehsil Phillaur, District Jalandhar, Punjab.

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Sh. Jagir Singh s/o Sh. Udho Singh, r/o VPO Dyalpur, Tehsil Phillaur, District Jalandhar, Punjab.

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……….Defendants

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Advocates

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Ms. Puja Sharma, Counsel for the applicant bank. Defendants- ex parte vide order dated 21.02.2024 .

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OA for the Recovery of Rs.45,57,326/- with interest @11.35% per annum with half-yearly rests from 02.02.2023.

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ORDER

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SBI (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.45,57,326/- with interest against Sh. Balbir Singh and another (defendants).

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Bank’s case is that on 16.01.2006, it had granted a loan of Rs.8.00 Lacs in the form of K.C.C Limit which was further enhanced to Rs.25.00 Lacs on 05.02.2010, to defendant Nos. 1 and 2 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 @11.35% per annum with half-yearly rests. On 20.01.2023, a sum of Rs.45,57,326/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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2 3. On 07.03.2023, summonses were sent to the defendants by registered
post, which were duly served. However, defendants did not put in
appearance. Vide order dated 21.02.2024, they were proceeded_ex parte_.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Ravi Kumar Sanga, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-19 (A-3).
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.25.00 Lacs and on 20.01.2023, a sum of Rs.45,57,326/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.45,57,326/- (Rupees Forty Five Lacs Fifty Seven Thousand Three
Hundred Twenty Six Only) with interest @11.35% per annum with half- yearly rests from 02.02.2023, 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
01.07.2025,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: 29.04.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

State Bank of India v. Sh. Balbir Singh

Case brief

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State Bank of India v. Sh. Balbir Singh

Case brief

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