The Debt Recovery Tribunal allowed an application filed by Punjab National Bank for the recovery of a loan of Rs. 20,00,000/- along with accrued interest and costs against the defendant, who failed to appear.
Recovery of Rs. 30,31,895.35p with interest and costs via 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-II, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 324/2022 Date of Institution: 17.02.2022 Date of Decision: 28.01.2025
Punjab National Bank at V.P.O Chaurmastpur, Tehsil and District Ambala. Haryana.
……..Applicant Vs.
Sh. Mewa Singh S/o Sh. Arjan Singh, r/o Village Sounta, Tehsil and District Ambala, Haryana
……….Defendant
Advocates
Sh. Pancham Sharma, Counsel for the applicant bank
Defendant- ex parte
OA for the Recovery of Rs.30,31,895.35p with interest @11.50% per annum with half yearly rests from 17.02.2022.
ORDER
2
| Pronounced in the open Court | (A S Narang) |
|---|---|
| Dated: 28.01.2025 | Presiding Officer |
| DRT-2, Chandigarh | |
| (Additional charge) |
3
1 issue framed by the court
Whether the arbitrary increase in interest rates and application of enhanced interest rate are acceptable?
2 provisions across 1 enactments
Punjab National Bank at V.P.O Chaurmastpur, Tehsil and District Ambala, Haryana
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
