The Debts Recovery Tribunal allowed the bank's application for recovery of a loan of Rs.20 Lacs. The court confirmed the debt and directedsale of mortgaged land and issuance of a Recovery Certificate.
Application allowed; Recovery Certificate issued; Directed sale of mortgaged land and distribution of proceeds.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 73/2023 Date of Institution: 14.12.2022 Date of Decision: 11.12.2025
Punjab and Sind Bank having its branches all over India and a branch at Tanda byepass Road, District Hoshiarpur, Punjab.
……..Applicant
……….Defendants
Advocates
Sh. Jasneet Singh, Counsel for the applicant bank. Defendants - ex parte vide order dated 05.07.2024 .
OA for the Recovery of Rs.23,95,501.10p with interest @10.20% per annum with half-yearly rests from 14.12.2022.
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ORDER
| 3. | On 20.01.2023, summonses were sent to the defendants by |
|---|---|
| regis in ap |
tered post, which were duly served. However, defendants did not put pearance. Vide order dated 05.07.2024, they were proceeded_ex parte_. |
| 4. | In order to prove its case, the Bank has placed on record the |
| affid | avit of Sh. Mukesh Kumar, Senior Manager along with the loan and |
| secu | rity documents and marked them as Exhibit A-1 to A-16. |
| 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.2 | 0.00 Lacs and on 30.09.2022, a sum of Rs.23,95,501.10p was due. |
| 6. | Accordingly, the application of the bank for the recovery of |
| Rs.2 | 3,95,501.10p (Rupees Twenty Three Lacs Ninety Five Thousand Five |
| Hun | dred One and Paise Ten Only) with interest @10.20% per annum with |
| half- | yearly rests from 14.12.2022, till the date of payment is hereby |
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allowed with costs. The liability of the legal heirs of defendant No.1 would be liable to the extent of the property inherited by them from Sh. Piara Singh (now deceased) whereas liability of defendant Nos. 2 and 3 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 defendant Nos. 2 and 3.
Pronounced in the open Court. (A S Narang) Dated: 11.12.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA
Punjab and Sind Bank
Tirath Singh s/o Sh. Piara Singh
Onkar Singh s/o Sh. Piara Singh
Tirath Kaur d/o Sh. Piara Singh
Gurbax Kaur d/o Sh. Piara Singh
Balbir Kaur d/o Sh. Piara Singh
A S Narang
As recorded by the court registry
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