Allowed

Punjab National Bank v. Sh. Sukhdev Singh

DRT30 Jan 2025OA/781/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of Rs 21,60,574 plus interest. The court found the bank's case proved via affidavit, held the defendant proceeded ex parte, and directed issuance of a Recovery Certificate and appearance before the Recovery Officer.

What did the court decide?

Recovery of Rs 21,60,574 with interest; issuance of Recovery Certificate; direction to Recovery Officer to distribute proceeds.

Punjab National Bank versus Sh. Sukhdev 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: 781 of 2022 Date of Institution: 25.04.2022 Date of Decision: 30.01.2025

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Punjab National Bank, having branches all over India having a branch at Mandi Amin Ganj, Jalalabad, (West), Fazilka, Punjab.

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……..Applicant

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Vs.

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Sh. Sukhdev Singh s/o Darbara Singh r/o H.no. 183, Village Khuranj Tehsil Jalalabad, District Fazilka, Punjab.

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……….Defendant

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Advocates

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Sh. RS Bhatta, Counsel for the applicant bank.

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Defendant – ex parte

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OA for the Recovery of Rs. 21,60,574/- with interest @ 10.50% per annum with half-yearly rests from 25.04.2022.

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ORDER

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Punjab National Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs. 21,60,574/- with interest against Sh. Sukhdev Singh (Defendant).

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Bank’s case is that on 18.06.2013, it had granted a loan of Rs. 12.43 Lacs to the Defendant in the form of KCC Limit for agricultural purposes. To secure the loan, Defendant had mortgaged property (fully detailed in para No.3A of the application). The loan was chargeable to interest @10.50% per annum with half-yearly rests. On 28.02.2022, a sum of Rs. 21,60,574/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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3. On 17.05.2022, summons was sent to the defendant by registered
post, which was duly served. However, defendant did not put in
appearance. Vide order dated 16.11.2023, he was proceeded_ex parte_.
4. In order to prove its case, the Bank has placed on record the
affidavit of Mr. Paramjit Singh, Senior Manager along with the loan and security documents and marked them as Exhibit A-1 to A-12.
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. 12.43 Lacs and on 28.02.2022, a sum of Rs. 21,60,574/- was due.
6. Accordingly, the application of the bank for the recovery of Rs.
21,60,574/- (Rupees Twenty One Lacs Sixty Thousand Five Hundred
Seventy Four Only) with interest @10.50% per annum with half-yearly
rests from 25.04.2022, 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.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Party is 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 party.
Pronounced in the open court. (A S Narang) Dated: 30.01.2025 Presiding Officer DRT-1, Chandigarh

Punjab National Bank v. Sh. Sukhdev Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Sh. Sukhdev Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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