Allowed

Punjab National Bank v. Sadhu Singh

DRT1 Sept 2025OA/455/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by Punjab National Bank for recovery of Rs.30,16,636/- with interest against two defendants. The court found the loan advanced and amount due proved upon evidence and issued a recovery certificate, directing distribution of sale proceeds.

What did the court decide?

Application allowed. Recovery of Rs. 30,16,636/- with interest permitted via sale of mortgaged land and personal property. Recovery Certificate issued. Recovery Officer directed to distribute proceeds

Punjab National Bank versus Sadhu 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: 455 of 2022 Date of Institution: 04.03.2022 Date of Decision: 01.09.2025

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Punjab National Bank having its branches all over India and a branch at Circle Sastra Centre, Pathankot, Punjab.

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……..Applicant Vs.

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Sadhu Singh S/o Sh. Gopal Singh r/o Village Narwan PO Bhagowal, Tehsil Batala, District Gurdaspur, Punjab.

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Satnam Singh s/o Sh. Sadhu Singh r/o Village Narwan PO Bhagowal, Tehsil Batala, District Gurdaspur, Punjab. ……….Defendants

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Advocates

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Sh. Bharat Kawal proxy counsel for Sh. Kulbhusan Singh Manhas, Counsel for the applicant bank. Defendants - ex parte .

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OA for the Recovery of Rs.30,16,636/- with interest @8.85% per annum with yearly rests from 04.03.2022.

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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. 30,16,636/- with interest against Sh. Sadhu Singh and another (defendants).

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Bank’s case is that on 14.05.2013, it had granted a loan of Rs.15.00Lacs to defendant nos. 1 and 2 in the form of K.C.C. Limit for agricultural purpose. To secure the loan, Defendant nos.1 and 2 had mortgaged their land (fully detailed in para no.3A of the application). The loan was chargeable to interest @8.85% per annum with yearly rests. The defendants had duly acknowledged their liability towards the debt on 21.03.2016 and 05.03.2019. On 08.01.2022, a sum of Rs.30,16,636/- was

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due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3. On 25.03.2022, summonses were sent to the defendants by
registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 17.11.2023, they were proceeded_ex_ parte.
4. In order to prove its case, the Bank has placed on record the
affidavit of Mr. Gurpeet Singh, Authorized Officer 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.15.00Lacs and on 08.01.2022, a sum of Rs.30,16,636/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.30,16,636/- (Rupees Thirty Lacs Sixteen Thousand Six Hundred and Thirty Six Only) with interest @8.85% per annum with yearly rests from
04.03.2022, till the date of payment is hereby allowed with costs. The
liability of both 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
09.10.2025,who is directed to distribute the sale proceeds of the
mortgaged property(ies) and standing crops as per the provisions of Section 19(20-AB) of the Act.

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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: 01.09.2025 Presiding Officer DRT-1, Chandigarh Amanpreet (Law Researcher)

Punjab National Bank v. Sadhu Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Sadhu Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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