The Debts Recovery Tribunal allowed an application by Punjab National Bank to recover Rs. 23,41,710 with interest from the borrowers and guarantor. The court directed the sale of mortgaged land and issuance of a recovery certificate.
Recovery of Rs. 23,41,710 with interest @9.50% p.a.; sale of mortgaged land; joint and several liability enforced.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 43/2023
Date of Institution: 19.12.2022 Date of Decision: 15.04.2025
Punjab National Bank, branch offices amongst others at Dhameta, Tehsil Fatehpur, District Kangra, HP.
……..Applicant
Vs.
……….Defendants
Advocates
Mr. Rakesh Gupta, proxy Counsel for Mr. J.K. Sharma, Counsel for the applicant bank. Defendants – ex parte OA for the Recovery of Rs.23,41,710/- with interest @9.50% per annum with half yearly rests from 19.12.2022.
ORDER
| 2 The loan was chargeable to interest @9.50% per annum with half yearly |
|---|
| rests. On 31.10.2022, a sum of Rs.23,41,710/- was due from the |
| defendants. Despite repeated requests, defendants did not make the |
| repayment. Hence, this application. |
| 3. On 13.01.2023, summonses were sent to the defendants by |
| registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 23.01.2024, they were proceeded_ex_ parte. |
| 4. In order to prove its case, the Bank has placed on record the |
| affidavit of Mr. Parveen Kumar, Branch 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.21.00 Lacs and on 31.10.2022, a sum of Rs.23,41,710/- was due. |
| 6. Accordingly, the application of the bank for the recovery of |
| Rs.23,41,710/- (Rupees Twenty Three Lacs Forty One Thousand Seven |
| Hundred and Ten Only) with interest @9.50% per annum with half yearly rests from 19.12.2022, 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.3(A) 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 |
| **16.05.2025,**who is directed to distribute the sale proceeds of the |
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: 15.04.2025 Presiding Officer DRT-1, Chandigarh Pankaj
2 issues framed by the court
Whether to allow the bank's application for recovery of the due sum and interest under Section 19 of the RDB Act.
How to enforce the recovery of dues against mortgaged and personal properties.
2 provisions across 1 enactments
Punjab National Bank
Santosh Devi alias Mamta Devi
Vijay Kumar
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
