Allowed

Bank of India v. Sh. Nirvair Singh @ Narver Singh

DRT3 Mar 2025OA/385/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's ex parte application for recovery of Rs. 34,40,630/- plus interest. Directions were issued to issue a recovery certificate and direct the sale of mortgaged land to satisfy dues.

What did the court decide?

Application allowed; order for recovery of Rs. 34,40,630/- with interest; direction to issue Recovery Certificate; direction to distribute proceeds of auctioned mortgaged land.

Bank of India versus Sh. Nirvair Singh @ Narver Singh — Banking and Recovery | 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: 385/2023

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Date of Institution: 15.02.2023 Date of Decision: 03.03.2025

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Bank of India having its branches all over India and a branch at Opposite Sanjeev Cinema, G.T. Road, Fazilka, Tehsil and District Fazilka, Punjab.

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……..Applicant

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Vs.

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Sh. Nirvair Singh @ Narver Singh s/o Sh. Sukhwinder Singh, r/o Village Kamal Wala, Tehsil and District Fazilka, Punjab.

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Sh. Jarnail Singh s/o Sh. Sukhwinder Singh, r/o Village Kamal Wala, Tehsil and District Fazilka, Punjab.

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……….Defendants

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Advocates

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Sh. Lovish, proxy Counsel for Sh. Pankaj Beri, Counsel for the applicant bank. Defendants- ex parte .

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OA for the Recovery of Rs.34,40,630/- with interest @13.45% per annum with half-yearly rests from 15.02.2023.

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ORDER 1. Bank of India (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.34,40,630/- with interest against Sh. Nirvair Singh @ Narver Singh and another (defendants). 2. Bank’s case is that on 16.10.2014, it had granted a loan of Rs.6.00 Lacs in the form of K.C.C Limit and Rs.8.00 Lacs in the form of Agricultural OD Limit to defendant No.1 for agricultural purpose. To secure the loan, defendant No.1 had mortgaged his agricultural land (fully detailed in para No.3A of the application). Defendant No. 2 stood

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2 as guarantor. The loans were chargeable to interest @13.45% per annum with half-yearly rests. On 15.01.2023, a sum of Rs.34,40,630/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3. On 09.03.2023, summonses were sent to the defendants by
registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 29.02.2024, they were proceeded_ex_ parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Ved Prakash, Authorized Officer along with the loan and security documents and marked them as Exhibit A-1 to A-20.
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 total loan of Rs.14.00 Lacs and on 15.01.2023, a sum of Rs.34,40,630/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.34,40,630/- (Rupees Thirty Four Lacs Forty Thousand Six Hundred
Thirty Only) with interest @13.45% per annum with half-yearly rests from 15.02.2023, till the date of payment is hereby allowed with costs. The liability of all 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 02.04.2025,who is directed to distribute the sale proceeds of the

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3 mortgage 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: 03.03.2025 Presiding Officer DRT-1, Chandigarh

Bank of India v. Sh. Nirvair Singh @ Narver Singh

Case brief

What is this about?

What did the court decide?

Bank of India v. Sh. Nirvair Singh @ Narver Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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