Allowed

Punjab National Bank v. Late Sh. Sukhdip Singh @ Sukhdeep Singh

DRT24 Feb 2025OA/326/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application under Section 19 of the RDB Act to recover Rs. 26.12 lacs plus interest from the legal heirs of a deceased borrower who had mortgaged land to secure the loan, directing the sale of the mortgaged property.

What did the court decide?

Recovery of Rs. 26,12,054/- with interest allowed; Recovery Certificate issued; Salvage of mortgaged land directed.

Punjab National Bank versus Late Sh. Sukhdip 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: 326/2023 Date of Institution: 02.02.2023 Date of Decision: 24.02.2025

¶4

Punjab National Bank having its branches all over India and a branch at Guru Teg Bahadur Nagar, Nakodar, District Jalandhar.

¶5

……..Applicant

¶6

Vs.

¶7

Late Sh. Sukhdip Singh @ Sukhdeep Singh s/o Sh. Sadhu Singh, R/o House No.1313, Mohalla Sufi, Railway Road, Nakodar, District Jalandhar through Defendant Nos. (i to iii) known Legal Heir to the estate of Deceased:

¶8

(i) Smt. Harpinder Kaur w/o Late Sh. Sukhdip Singh, R/o House No.1313, Mohalla Sufi, Railway Road, Nakodar, District Jalandhar, Punjab.

¶9

(ii) Sh. Harmanjit Singh s/o Late Sh. Sukhdip Singh, R/o House No.1313, Mohalla Sufi, Railway Road, Nakodar, District Jalandhar, Punjab.

¶10

(iii) Sh. Tarinderjit Singh s/o Late Sh. Sukhdip Singh, R/o House No.1313, Mohalla Sufi, Railway Road, Nakodar, District Jalandhar, Punjab.

¶11

……….Defendants

¶12

Advocates

¶13

Sh. Shivamdeep, proxy Counsel for Ms. Puja Sharma, Counsel for the applicant bank.

¶14

Defendants- ex parte .

¶15

OA for the Recovery of Rs.26,12,054/- with interest @8.75% per annum with half-yearly rests from 02.02.2023.

¶16

ORDER

¶17

PNB (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.26,12,054/- with interest against Late Sh. Sukhdip Singh (now deceased) through his Legal Heirs (Defendants).

¶18

¶19

Bank’s case is that on 04.11.2014, it had granted a loan of Rs.15.00 Lacs to Sh. Sukhdip Singh @ Sukhdeep Singh (now deceased) in the form of K.C.C Limit for agricultural purpose. To secure the loan, Sh. Sukhdip Singh @ Sukhdeep Singh (now deceased) had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to interest @8.75% per annum with half-yearly rests. On 31.01.2023, a sum of Rs.26,12,054/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

¶20

On 27.02.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 12.02.2024, they were proceeded ex parte .

¶21

In order to prove its case, the Bank has placed on record the affidavit of Sh. Surender Kumar, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-14. 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.15.00 Lacs and on 31.01.2023, a sum of Rs.26,12,054/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.26,12,054/- (Rupees Twenty Six Lacs Twelve Thousand and Fifty Four Only) with interest @8.75% per annum with half-yearly rests from 02.02.2023, till the date of payment is hereby allowed with costs. Bank can recover its dues by the sale of mortgaged land fully detailed in para No.3A) of the application. The Legal Heirs of Sh. Sukhdip Singh @ Sukhdeep Singh would be liable to the extent of property inherited by them from Sh. Sukhdip Singh @ Sukhdeep Singh (since deceased).

¶22

¶23

Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 25.03.2025, who is directed to distribute the sale proceeds of the mortgage land and standing crops as per the provisions of Section 19(20AB) 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: 24.02.2025 Presiding Officer DRT-1, Chandigarh

Punjab National Bank v. Late Sh. Sukhdip Singh @ Sukhdeep Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Late Sh. Sukhdip Singh @ Sukhdeep 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 Sh. Kuldeep Singh

Icici Bank Limited versus Sh. Darshan Singh

Axis Bank versus M/S Victory Sales Corporation

Sri Indrajit Sharma versus Uco Bank

Punjab National Bank versus M/S P.R Polypack

Ms Grand Dubai Jewellers Anrs versus City Union Bank Limited