Allowed

State Bank of India v. Sh. Meharban Singh

DRT30 Jan 2025OA/56/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of outstanding dues amounting to Rs. 24,25,233.20 with interest against the defendants proceeding ex parte. The court ordered issuance of a Recovery Certificate and recovery of dues through sale of mortgaged property.

What did the court decide?

Allowed recovery of Rs. 24,25,233.20 with interest and costs. Issued Recovery Certificate. Ordered sale of mortgaged property.

State Bank of India versus Sh. Meharban 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: 56 of 2022

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Date of Institution: 05.01.2022 Date of Decision: 30.01.2025

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SBI, having branches all over India having a branch at Bhucho Kalan, District Bathinda, Punjab.

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……..Applicant

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Vs.

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Sh. Meharban Singh s/o Sh. Gurjant Singh r/o Village Bhucho Kalan, Near Dera Baba Rumi Wala, District Bathinda, Punjab.

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Acchar Singh s/o Sh. Mohinder Singh since deceased through his legal heirs:

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a. Meharban Singh s/o Sh. Gurjant Singh, Grandson & Legal Heir Sh. Acchar Singh r/o Village Bhucho Kalan, Near Dera Baba Rumi Wala, District Bathinda, Punjab.

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b. Harbhajan Singh s/o Sh. Gurjant Singh, Grandson & Legal Heir of Sh. Acchar Singh r/o Village Bhucho Kalan, Near Dera Baba Rumi Wala, District Bathinda, Punjab.

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……….Defendants

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Advocates

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Sh. Ajay Singla, Counsel for the applicant bank. Defendants – ex parte

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OA for the Recovery of Rs. 24,25,233.20p with interest @10.60% per annum with half-yearly rests from 05.01.2022.

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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. 24,25,233.20p with interest against Sh. Meharban Singh and another (Defendants).

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Bank’s case is that on 19.08.2014, it had granted a loan of Rs. 24.00 Lacs to Defendant no. 1 and 2 (Acchar Singh) (now deceased) in the form of KCC Limit, for agricultural purposes. To secure the loan,

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Defendant no. 1 had mortgaged 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 31.10.2021, a sum of Rs. 24,25,233.20p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 27.04.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 17.08.2023, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Sunil Singla, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-10.

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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 lacs and on 31.10.2021, a sum of Rs. 24,25,233.20p was due.

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Accordingly, the application of the bank for the recovery of Rs. 24,25,233.20p (Rupees Twenty Four Lacs Twenty Five Thousand Two Hundred Thirty Three and Twenty Paisa Only) with interest @10.60% per annum with half-yearly rests from 05.01.2022, 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 No.1. The LRs of Acchar Singh would be liable to the extent of property inherited by them from Shri Acchar Singh (deceased).

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Pending IAs, if any, stand disposed of.

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Recovery Certificate be issued accordingly.

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Parties are directed to appear before Recovery Officer on 04.03.2025 , 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 parties. Pronounced in the open court. (A S Narang) Dated: 30.01.2025 Presiding Officer DRT-1, Chandigarh

State Bank of India v. Sh. Meharban Singh

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sh. Meharban Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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