Allowed

State Bank of India v. Sh. Swaran Singh

DRT25 Aug 2025OA/472/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application under Section 19 of the RDB Act to recover Rs.31,20,295/- with interest from the defendants, who failed to repay an agricultural loan secured by a mortgaged property, and ordered the issuance of a Recovery Certificate.

What did the court decide?

Application for recovery of Rs.31,20,295/- with interest allowed; Recovery Certificate issued; Recovery Officer directed to distribute sale proceeds.

State Bank of India versus Sh. Swaran 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: 472 of 2022 Date of Institution: 07.03.2022 Date of Decision: 25.08.2025

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SBI having branches all over India having a branch at Noormahal Road, Nakodar, District Jalandhar, Punjab

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……..Applicant

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Vs.

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Sh. Swaran Singh s/o Sh. Surain Singh r/o Village Sangowal, tehsil Nakodar, District Jalandhar, Punjab

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Sh. Lakhwinder Singh s/o Sh. Swarn Singh r/o Village Sangowal, Tehsil Nakodar, District Jalandhar, Punjab

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……….Defendants

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Advocates

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Sh. R.K. Jindal, Counsel for the applicant bank.

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Defendants – ex parte

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OA for the Recovery of Rs. 31,20,295/- with interest @10.60% per annum with half-yearly rests from 07.03.2022.

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ORDER

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SBI (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.31,20,295/- with interest against Sh. Swaran Singh and another (Defendants).

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Bank’s case is that on 19.11.2014, it had granted a loan of Rs.15.00Lacs to the Defendant nos.1 and 2 in the form of K.C.C. Limit for agricultural purpose. On 15.07.2015, the K.C.C. Limit was enhanced from Rs.15.00Lacs to Rs.24.00Lacs. To secure the loan, Defendant no. 1 had mortgaged his property (fully detailed in para No.3A of the application). The loan was chargeable to interest @10.60% per annum with half-yearly rests. On 15.02.2022, a sum of Rs.31,20,295/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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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 23.08.2023, they were proceeded_ex_ parte.
4. In order to prove its case, the Bank has placed on record the
affidavit of Mr. Navnath Mehetre, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-12.
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.24.00Lacs and on 15.02.2022, a sum of Rs.31,20,295/-was due.
6. Accordingly, the application of the bank for the recovery of
Rs.31,20,295/- (Rupees Thirty One Lacs Twenty Thousand Two Hundred and Ninety Five Only) with interest @10.60% per annum with half-yearly rests from 07.03.2022, 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 property 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
03.10.2025,who is directed to distribute the sale proceeds of the mortgage 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 parties.
Pronounced in the open court. (A S Narang) Dated:25.08.2025 Presiding Officer DRT-1, Chandigarh

State Bank of India v. Sh. Swaran Singh

Case brief

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What did the court decide?

State Bank of India v. Sh. Swaran Singh

Case brief

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