Allowed

Punjab Gramin Bank v. Sh. Ram Tirath Singh Alias Tirath Singh Alias Ram Tirath Singh Kang

DRT25 Nov 2025OA/478/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an exparte Original Application filed by Punjab Gramin Bank to recover Rs.37,39,150 from a defaulting borrower. The Tribunal declared the sum recoverable and directed the issue of a Recovery Certificate, fixing simple interest at 8% p.a. pending realization.

What did the court decide?

Recovery Certificate issued for Rs.37,39,150 with costs and simple interest at 8% p.a. from filing date till realization.

Punjab Gramin Bank versus Sh. Ram Tirath Singh Alias Tirath… — Specific Performance | DRT (2025)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.478/2025

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 28.03.2025

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DATE OF DECISION: 25.11.2025

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Punjab Gramin Bank, a body corporate constituted under Regional Rural Bank Act, 1976 carrying the business of Banking and having its Head Office at Markfed Road, Kapurthala and inter-alia a branch office at Banga Road, Phagwara, Tehsil Phagwara, District Kapurthala through its Branch Manager Sh. Pawan Kumar, duly constituted Attorney.

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……. Applicant Versus

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Sh. Ram Tirath Singh alias Tirath Singh alias Ram Tirath Singh Kang son of Sh. Baldev Singh son of Sh. Valaiti Ram, resident of Village Kultham, Tehsil Nawashahr, District Shaheed Bhagat Singh Nagar, Punjab.

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……. Defendant

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Advocates:

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Argued by Sh. Varun Mittal, Advocate for Applicant (through VC) Defendant already ex-parte

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FINAL ORDER

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Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993, against the defendant for recovery of Rs.37,39,150.00p (Rupees Thirty Seven Lacs Thirty Nine Thousand One Hundred Fifty Only). The Original Application has been filed through Sh. Pawan Kumar, Constituted Attorney/Branch Head of the applicant, who is competent to institute the Original Application vide Power of Attorney dated 04.01.2021, which is Annexure A1 to this OA.

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The brief facts of the OA are that the defendant had approached the applicant for grant of KCC Limit of Rs.20.00 Lacs and Agri. Term Loan of Rs. 3.00 Lacs vide Loan Application dated 18.04.2016, which is

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2 OA NO. 478/2025 PUNJAB GRAMIN BANK VS SH. RAM TIRATH SINGH ALIAS TIRATH SINGH ALIAS RAM TIRATH SINGH KANG

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Annexure A2 to this OA and again approached for another Agri. Term loan of Rs.5.00 Lacs vide Loan Application dated 11.07.2017, which is Annexure A5 to this OA.

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The applicant sanctioned KCC Limit of Rs.20.00 Lacs and Agri. Term Loan of Rs. 3.00 Lacs vide Sanction letter dated 12.05.2016, which is Annexure A3 to this OA and sanctioned another Agri. Term loan of Rs.5.00 Lacs vide Sanction letter dated 28.07.2017, which is Annexure A6 to this OA.

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Defendant had mortgaged his immovable property i.e. Land measuring 23K-08M situated at Village Kultham, Sub Tehsil Banga, Tehsil Nawanshehar, District Shaheed Bagat Singh Nagar, Punjab vide Declaration u/s 4(1) dated 12.05.2016, along with letter to SubRegistrar for creation of charge, which is Annexure A8 to this OA and Rapat dated 27.05.2016, which is Annexure A9 to this OA.

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Documents executed : - Agreements of hypothecation dated 02.06.2016 & 28.07.2017, which are Annexures A4 & A7 to this OA; None encumbrance certificate dated 20.04.2016, which is Annexure A10 to this OA; Balance confirmation letter dated 20.12.2018, 01.02.2024, 20.12.2018, which are Annexures A11 to A13 to this OA and Statement of Accounts along with certificate by the Officer Incharge of Computer System, which are Annexures A14 to A16 to this OA.

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The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in loan accounts there was a debit of Rs.37,39,150.00p, which is recoverable and the defendant was served recall notice but he did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly.

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The defendant was served notices to appear before this Tribunal but no one appeared on behalf of defendant and he was proceeded exparte on 21.11.2025.

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3 OA NO. 478/2025 PUNJAB GRAMIN BANK VS SH. RAM TIRATH SINGH ALIAS TIRATH SINGH ALIAS RAM TIRATH SINGH KANG

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In support of the OA, affidavit of Sh. Pawan Kumar, Constituted Attorney/Branch Head , Punjab Gramin Bank, h as been filed.

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Heard ex-parte arguments and perused record.

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It was argued by learned counsel through video conferencing that in view of the documentary evidence brought on record which had gone unrebutted, the applicant had proved its case. From the perusal of all the Annexures A1 to A16 to this OA, it is proved that the defendant approached applicant for availing of the loan facilities which were granted to him and for that he had executed all the relevant documents in favour of the bank. The defendant failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, account of the defendant was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.37,39,150.00p (Rupees Thirty Seven Lacs Thirty Nine Thousand One Hundred Fifty Only) along with interest from the defendant, from the date of filing of the present Original Application till realization of the accounts.

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In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @11.50%p.a. from 21.03.2025 till the realization.

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The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the mortgaged property/hypothecated assets, undertaking of the defendant, quantum of loans and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @08.00%p.a. in all the loan accounts from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.

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4 OA NO. 478/2025 PUNJAB GRAMIN BANK VS SH. RAM TIRATH SINGH ALIAS TIRATH SINGH ALIAS RAM TIRATH SINGH KANG

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In the result, the application is allowed declaring that the defendant is liable to pay to the applicant a total sum of Rs.37,39,150.00p (Rupees Thirty Seven Lacs Thirty Nine Thousand One Hundred Fifty Only) with costs, current and future simple interest @08.00%p.a. in all the loan accounts from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of hypothecated/mortgaged properties of the defendant in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendant. The applicant is at liberty to enforce the claim through due process of law. 12. Any other application pending stands disposed of. 13. Issue Recovery Certificate accordingly. 14. Parties to appear before Learned Recovery Officer of this Tribunal on 05.12.2025. 15. Copy of this order be given dasti to the applicant and be sent to defendant through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned. Pronounced by me in the open Tribunal . Dated: 25.11.2025. (MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Punjab Gramin Bank v. Sh. Ram Tirath Singh Alias Tirath Singh Alias Ram Tirath Singh Kang

Case brief

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Punjab Gramin Bank v. Sh. Ram Tirath Singh Alias Tirath Singh Alias Ram Tirath Singh Kang

Case brief

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