Allowed

Punjab Gramin Bank v. Sh. Baljinder Singh and Another

DRT22 Oct 2025OA/39/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed Original Application filed by Punjab Gramin Bank for recovery of Rs.46.96 Lakhs. Tribunal granted uniform interest and ordered sale of mortgaged properties or personal assets for enforcement.

What did the court decide?

Recovery of Rs.46,96,858.83 with simple interest @8% p.a.; Recovery via sale of mortgaged or personal assets; Issue of Recovery Certificate.

Punjab Gramin Bank versus Sh. Baljinder Singh and Another — Execution and Attachment | DRT (2025)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.39/2025

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 02.01.2025

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DATE OF DECISION: 22.10.2025

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Punjab Gramin Bank, a body corporate constituted under the Regional Rural Bank Act, 1976, Act No.21 of 1976 having its Head Office at Markfed Road Kapurthala (Punjab) and having its branches at different places including one at B.O. Bhikhiwind, Tehsil Patti, District Tarn Taran (Punjab) through its Authorized Representative Sh. Deep Chand.

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……..Applicant

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Versus

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Sh. Baljinder Singh S/o Sh. Inder Singh, R/o Akbarpura, Tehsil

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Patti, District Tarn Taran, Punjab.

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Sh. Davinder Singh S/o Sh. Inder Singh, R/o Akbarpura, Tehsil Patti, District Tarn Taran, Punjab.

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….……Defendants

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Advocates:

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Argued by Sh. Ankit Kaushal, Advocate for the applicant

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Defendants already ex-parte

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FINAL ORDER

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Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts and Bankruptcy Act,1993, against the defendants for recovery of Rs.46,96,858.83p (Rupees Forty Six Lacs Ninety Six Thousand Eight Hundred Fifty Eight and Paise Eighty Three Only). The Original Application has been filed through Sh. Deep Chand, Authorized Representative, o f the applicant, who is competent to institute the Original Application vide General Power of Attorney dated 07.12.2020, which is Annexure A1 to this OA.

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The brief facts of the OA that the defendants had approached the applicant for the grant of KCC Limit of Rs.31.00 Lacs vide Loan Application dated 20.02.2020, which is Annexure A2 to this OA.

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OA NO.39/2025 PUNJAB GRAMIN BANK Vs SH. BALJINDER SINGH AND ANOTHER

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The applicant sanctioned the KCC Limit of Rs.31.00 Lacs vide Letter of Sanction dated 17.03.2020, which is Annexure A3 to this OA. and the terms and conditions were duly accepted by the defendants.

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Defendants had mortgaged their immovable properties i.e. land measuring 99K-16 detailed as under: - (A) Land measuring 49K-19M, situated in village Akbarpura, Hadbast No. 152, Tehsil Patti, District Tarn Taran, Punjab. (B) Land measuring 49K-17M, situated in village Kot Budha, Hadbast No. 341, Tehsil Patti, District Tarn Taran, Punjab vide Declaration u/s 4(1) dated 11.03.2020, which is Annexures A5 to this OA. Documents executed:- Hypothecation agreement dated 17.03.2020, which is Annexure A4 to this OA; Statement of account, which is Annexure A6 to this OA; Certificate by Officer Incharge of the computer system, which is Annexure A7 to this OA; Notice dated 06.03.2024, which is Annexure A8 to this OA; Security Confirmation Letter dated 25.11.2022, which is Annexure A9 to this OA . 5. The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in loan account there was a debit of Rs.46,96,858.83p, which is recoverable and the defendants were served recall notice but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly. 6. The defendants were served notices to appear before this Tribunal but no one appeared on their behalf and they were proceeded ex-parte on 16.10.2025. 7. In support of the OA, affidavit of Sh. Deep Chand, Authorized Representative, Punjab Gramin Bank, h as been filed. 8. Heard ex-parte arguments and perused record.

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OA NO.39/2025 PUNJAB GRAMIN BANK Vs SH. BALJINDER SINGH AND ANOTHER

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It was argued by learned counsel that in view of the documentary evidence brought on record which had gone unrebutted, the applicant had proved its case. From the perusal of all the Annexures A1 to A9 to this OA, it is proved that the defendants approached applicant for availing of the loan facility which was granted to them and for that they had executed all the relevant documents in favour of the bank. The defendants failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, account of the defendants was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.46,96,858.83p (Rupees Forty Six Lacs Ninety Six Thousand Eight Hundred Fifty Eight and Paise Eighty Three Only) along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the account.

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In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @ 12.50% p.a. with @2%p.a. penal interest from 01.04.2024 till the realization.

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The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the mortgaged property, undertaking of the defendants, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @08.00%p.a. in the loan account from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly. 11. In the result, the application is allowed declaring that that the defendants are liable to pay to the applicant a total sum of

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OA NO.39/2025 PUNJAB GRAMIN BANK Vs SH. BALJINDER SINGH AND ANOTHER

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Rs.46,96,858.83p (Rupees Forty Six Lacs Ninety Six Thousand Eight Hundred Fifty Eight and Paise Eighty Three Only) jointly and severally, with costs, current and future simple interest @08.00%p.a. in the loan account from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of hypothecated/mortgaged properties of the defendants in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendants. The applicant is at liberty to enforce the claim through due process of law.

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12. Any other application pending stands disposed of.

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Issue Recovery Certificate accordingly.

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Parties to appear before Learned Recovery Officer of this Tribunal on 01.11.2025.

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Copy of this order be given dasti to the applicant and be sent to defendants through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned.

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Pronounced by me in the open Tribunal .

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Dated: 22.10.2025

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(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Punjab Gramin Bank v. Sh. Baljinder Singh and Another

Case brief

What is this about?

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Punjab Gramin Bank v. Sh. Baljinder Singh and Another

Case brief

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