Allowed the original application under Section 19 RDBFI Act claiming recovery of Rs. 27.77 Lakhs by confirming liability of legal heirs and directing issuance of a Recovery Certificate.
Recovery Certificate issued; liability of legal heirs confirmed for Rs. 27.77 Lakhs with costs and interest at 8% p.a.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.495/2022 PRESIDED OVER BYMRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 04.02.2022
DATE OF DECISION: 27.06.2025.
Indian Bank, (erstwhile Allahabad Bank), a body corporate constituted under the Banking Companies, (Acquisition & Transfer of Undertakings) Act, 1970having its corporate office at 254-260, Avvai Shanmugam Salai, Royapettah, Chennai-600014 and a branch amongst at GT Road, Moga through its duly constituted Attorney Sh. Hari Prasad Haldunia, Branch Manager.
……..Applicant Versus
1. Sh. Surjit Singh @ Surjeet Singh S/o Sh. Gurnam Singh through defendant no.1 (i) & 1(ii) known legal heirs to the estate of Late Sh. Surjit Singh.
i. Smt. Jaswinder Kaur W/o Late Sh. Surjit Singh @ Surjeet Singh R/o House No.212, VPO Datta, Tehsil Dharamkot, District Moga, Punjab. ii. Sh. Rajinder Singh S/o Late Sh. Surjit Singh @ Surjeet Singh R/o House No.212, VPO Datta, Tehsil Dharamkot, District Moga, Punjab.
….……Defendants
Advocates:
Argued by, Sh. Arvind Rajotia, Advocate proxy for Ms. Puja Sharma, advocate for Applicant Defendants are ex parte
FINAL ORDER
2 OA NO.495-2022 INDIAN BANK VS LATE SH. SURJIT SINGH @ SURJEET SINGH AND OTHERS
the applicant, who is competent to institute the Original Application vide Power of attorney, which is Annexure A1 to this OA.
3 OA NO.495-2022 INDIAN BANK VS LATE SH. SURJIT SINGH @ SURJEET SINGH AND OTHERS
amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly.
4 OA NO.495-2022 INDIAN BANK VS LATE SH. SURJIT SINGH @ SURJEET SINGH AND OTHERS
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, undertaking of the defendants, quantum of loan 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 @8.00%p.a. in the loan account from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.
5 OA NO.495-2022 INDIAN BANK VS LATE SH. SURJIT SINGH @ SURJEET SINGH AND OTHERS
Pronounced by me in the open Tribunal .
Dated: 27.06.2025.
(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh
2 issues framed by the court
Whether the applicant is entitled to recover the outstanding loan amount from the legal heirs of the deceased borrower.
Whether the Tribunal should grant relief on pendent lite and future interest given the drastic decline in market rates.
2 provisions across 2 enactments
Indian Bank, (erstwhile Allahabad Bank)
Smt. Jaswinder Kaur
Sh. Rajinder Singh
Sh. Gurmit Singh
MRIDULESH KUMAR SINGH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
