Allowed

State Bank of India v. Jagjeet Singh

DRT23 Jul 2025OA/468/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the SBI's application for recovery of Rs.23.78 Lacs including interest against Jagjeet Singh. The debt, secured by a mortgage, was proven via affidavit and documents. The order directs issuance of a Recovery Certificate and appearance before the Recovery Officer.

What did the court decide?

Application for recovery of Rs.23,78,828/- with interest allowed; Recovery Certificate issued; Appearance before Recovery Officer directed.

State Bank of India versus Jagjeet 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: 468/2022 Date of Institution: 07.03.2022 Date of Decision: 23.07.2025

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SBI having its branches all over India and a branch at Stress Assets Recovery Branch (SARB), 3^rd Floor, Administrative Building, Fountain Chowk, Civil Lines, Ludhiana, Punjab.

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……..Applicant Vs.

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Jagjeet Singh s/o Sh. Baljeet Singh, r/o Street No. 10-B, Guru Kripa Colony, Seed Farm, Abohar, District Fazilka, Punjab.

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……….Defendant

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Advocates

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Sh. Saurabh Bhardwaj, Counsel for the applicant bank. Defendant- ex parte vide order dated 14.11.2024 .

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OA for the Recovery of Rs.23,78,828/- with interest @8.85% per annum with monthly rests from 07.03.2022.

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ORDER

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SBI has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.23,78,828/- with interest against Sh. Jagjeet Singh (defendant). 2. Bank’s case is that on 21.02.2019, it had granted a Term Loan of Rs.20.00Lacs to Defendant for Housing purpose. To secure the loan, Defendant had mortgaged his property (fully detailed in para No.3A of the application). The loan was chargeable to interest @8.85% per annum with monthly rests. On 21.02.2022, a sum of Rs.23,78,828/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 25.03.2022, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 14.11.2024, he was proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Sh. Naresh Kumar, Chief Manager 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.20.00 Lacs and on 21.02.2022, a sum of Rs.23,78,828/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.23,78,828/- (Rupees Twenty Three Lacs Seventy Eight Thousand Eight Hundred Twenty Eight Only) with interest @8.85% per annum with monthly rests from 07.03.2022, till the date of payment is hereby allowed with costs. Bank can recover its dues by the sale of mortgaged property fully detailed in para No.3A of the application as well as from the personal movable and immovable property(ies) of the defendant.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Party is directed to appear before Recovery Officer on 29.08.2025, who is directed to distribute the sale proceeds of the mortgaged property 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 party.

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Pronounced in the open Court. (A S Narang) Dated: 23.07.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

State Bank of India v. Jagjeet Singh

Case brief

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State Bank of India v. Jagjeet Singh

Case brief

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What did the court decide?

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