In an ex parte order, the Presiding Officer of DRT-I Chandigarh allowed the applicant bank's application for recovery of Rs. 28,05,000.36p with interest against the respondent defaulting borrower and directed the issuance of a recovery certificate.
Recovery of Rs. 28,05,000.36p with interest, costs, and issuance of Recovery Certificate.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 344/2023 Date of Institution: 14.02.2023 Date of Decision: 07.04.2025
Punjab National Bank, having its branches all over India and a branch at Verka, Amritsar, Punjab.
……..Applicant
Vs.
Sh. Avtar Singh s/o Sh. Kulwant Singh, r/o H.No. 1844 A, Village Verka, Tehsil & District Amritsar, Punjab.
2nd Address: Village Raja Sansi Tehsil Ajnala, District Amritsar, Punjab.
……….Defendant
Advocates
Sh.Bharat Kawal proxy for Sh. Kulbhushan Singh Manhas, Counsel for the applicant bank.
Defendant - ex parte .
OA for the Recovery of Rs.28,05,000.36p with interest @8.50% per annum with yearly rests from 14.02.2023.
ORDER
2
| 3. On 03.03.2023, summons was sent to the defendant by registered |
|---|
| post, which was duly served. However, defendant did not put in |
| appearance. Vide order dated 16.02.2024, he was proceeded_ex parte_. |
| 4. In order to prove its case, the Bank has placed on record the |
| affidavit of Ms. Sudeep Kaur, Senior Manager along with the loan and security documents and marked them as Exhibit A-1 to A-11. 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.20.00 Lacs and on 08.01.2023, a sum of Rs.28,05,000.36p was due. |
| 6. Accordingly, the application of the bank for the recovery of |
| Rs.28,05,000.36p (Rupees Twenty Eight Lacs Five Thousand and Thirty |
| Six Paise Only) with interest @8.50% per annum with yearly rests from |
| 14.02.2023, 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 as well as from the personal movable and |
| immovable property(ies) of the defendant. |
| 7. Pending IAs, if any, stand disposed of. |
| 8. Recovery Certificate be issued accordingly. |
| 9. Party is directed to appear before Recovery Officer on |
| 07.05.2025**,**who is directed to distribute the sale proceeds of the |
| mortgaged property(ies) 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 party. |
| Pronounced in the open Court. (A S Narang) Dated: 07.04.2025 Presiding Officer DRT-1, Chandigarh |
2 issues framed by the court
Whether the applicant bank proved its case for recovery of debt and interest against the respondent-defendant.
Whether the application for recovery of the dues with interest was allowed.
1 provisions across 1 enactments
Punjab National Bank
Sh. Avtar Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
