Canara Bank v. Jarnail Singh

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

BEFORE: A S NARANG, PRESIDING OFFICER

OA No: 430 of 2022 Date of Institution: 07.12.2021 Date of Decision: 16.05.2025 Canara Bank, having its branches all over India and inter alia a branch office at Ajnala, District Amritsar, Punjab. ……..Applicant Vs. 1. Jarnail Singh S/o Sh. Chanchal Singh, R/o Village Gujjarpura, Tehsil Ajnala, District Amritsar, Punjab. 2. Prithipal Singh S/o Sh. Jarnail Singh, R/o H. No.17, Village Gujjarpura, Tehsil Ajnala, District Amritsar, Punjab. ……….Defendants Advocates Sh. Mohd. Iqbal, Counsel for the applicant bank. Defendants- Ex parte. OA for the Recovery of Rs.77,22,268/- with interest @11.55% per annum with half yearly rests from 04.12.2021. ORDER 1. Canara Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.77,22,268/- with interest against Jarnail Singh and Another (defendants). 2. Bank’s case is that on 20.09.2014, it had granted KCC Limit of Rs.56.00 lacs to defendant no.1 for agricultural purpose. Defendant no.2 stood as guarantor. To secure the loan, Defendant no.1 had mortgaged his agricultural land admeasuring 75 Kanal 0 Marlas, situated at Village Gujjarpura HB No.121, Tehsil Ajnala, District Amritsar, Punjab (fully detailed in para No.3A of the application). The loan was chargeable to interest @12.70% per annum with half yearly rests. On 10.09.2017,

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11.09.2017 and 10.09.2020, defendant no.1 had executed the acknowledgment of debts and security documents vide Exhibit A-10 to A-12. On 03.12.2021, a sum of Rs.77,22,268/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

1. On 07.04.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 08.01.2024, they were proceeded ex parte .