Allowed

Punjab National Bank v. Satnam Singh

DRT29 Sept 2025OA/434/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of a debt of approximately Rs.32.70 Lakhs with interest against the defendant, who was absent from the proceedings. The court upheld the evidence of the loan and outstanding dues and directed the issuance of a recovery certificate for the sale of mortgaged and other properties.

What did the court decide?

Recovery of Rs.32,70,005.91p with interest; Issue of Recovery Certificate; Sale of mortgaged land and personal properties.

Punjab National Bank versus Satnam Singh — Contract and Commercial Disputes | 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: 434 of 2022 Date of Institution: 18.02.2022 Date of Decision: 29.09.2025

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Punjab National Bank having its branches all over India and a branch at Industrial Estate, Batala, District Gurdaspur, Punjab.

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……..Applicant

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Vs.

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Satnam Singh s/o Swaran Singh r/o Village Naseerpur, Tehsil Batala, District Gurdaspur, Punjab.

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……….Defendant

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Advocates

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Sh. Ankit Kaushal, Counsel for the applicant bank. Defendant - ex parte .

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OA for the Recovery of Rs.32,70,005.91p with interest @7.60% per annum with yearly rests from 18.02.2022.

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ORDER

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Punjab National 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.32,70,005.91p with interest against Sh. Satnam Singh (defendant).

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Bank’s case is that on 17.02.2016, it had granted a loan of Rs.20.00Lacs to defendant in the form of C.C Limit for agricultural purpose. To secure the loan, Defendant had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to interest @7.60% per annum with yearly rests. The defendant had acknowledged the liability towards the debt on 02.03.2019. On 31.01.2022, a sum of Rs.32,70,005.91p was due from the defendants. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 15.03.2022, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 06.09.2022, he was proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Naresh Gupta, Authorised Officer along with the loan and security documents and marked them as Exhibit A-1 to A-9. 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.20.00Lacs and on 31.01.2022, a sum of Rs.32,70,005.91p was due. 6. Accordingly, the application of the bank for the recovery of Rs.32,70,005.91p (Rupees Thirty Two Lacs Seventy Thousand and Five and Ninety One Paise Only) with interest @7.60% per annum with yearly rests from 18.02.2022, 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 03.11.2025, who is directed to distribute the sale proceeds of the mortgaged property(ies) and standing crops as per the provisions of Section 19(20AB) 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: 29.09.2025 Presiding Officer DRT-1, Chandigarh Amanpreet (Law Researcher)

Punjab National Bank v. Satnam Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Satnam Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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