Allowed

Punjab National Bank v. Gurmej Singh

DRT29 Aug 2025OA/552/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by Punjab National Bank for the recovery of Rs.25,81,710/- with interest against two defendants who had mortgaged land to secure a loan but failed to repay their dues.

What did the court decide?

Order dated 29.08.2025 allowed the application for the recovery of Rs.25,81,710/- with interest at 8.85% per annum, costs, and directed the issuance of a Recovery Certificate.

Punjab National Bank versus Gurmej 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: 552/2022 Date of Institution: 21.03.2022 Date of Decision: 29.08.2025

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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

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Vs.

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Gurmej Singh s/o Sh. Satnam Singh, r/o VPO Mararh, Tehsil Batala, District Gurdaspur, Punjab.

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Gurvail Singh s/o Sh. Satnam Singh, r/o VPO Mararh, Tehsil Batala, Punjab.

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……….Defendants

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Advocates

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Sh. Bharat Kawal proxy counsel for Sh. Kulbhushan Singh Manhas, Counsel for the applicant bank.

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Defendants - ex parte vide order dated 31.10.2023 .

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OA for the Recovery of Rs.25,81,710/- with interest @8.85% per annum with yearly rests from 21.03.2022.

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ORDER

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Punjab National Bank has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.25,81,710/- with interest against Sh. Gurmej Singh and another (defendants).

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Bank’s case is that on 27.11.2015, it had granted a loan of Rs.14.00Lacs to defendant Nos. 1 & 2 in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant No.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. On 08.01.2022, a sum of Rs.25,81,710/- was due from the defendants. The

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defendants had duly acknowledged their liability towards the debt on 16.10.2018 and 26.07.2019. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3. On 20.04.2022, summonses were sent to the defendants by
registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 31.10.2023, they were proceeded_ex parte_.
4. In order to prove its case, the Bank has placed on record the
affidavit of Sh. Gurpreet Singh, Authorized Officer along with the loan and security documents and marked them as Exhibit A-1 to A-15. 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.14.00Lacs and on 08.01.2022, a sum of Rs.25,81,710/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.25,81,710/- (Rupees Twenty Five Lacs Eighty One Thousand Seven
Hundred Ten Only) with interest @8.85% per annum with yearly rests
from 21.03.2022, 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 land 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: 29.08.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Gurmej Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Gurmej Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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