Allowed

State Bank of India v. Sh. Deputy Singh @ Dipti Singh

DRT29 Jan 2025OA/850/2023

Case brief

AI extract

What is this about?

The DRT allowed the Bank's application for recovery of Rs. 23,56,168/- with interest granted under an agricultural loan, rejecting the impleaded defendant who appeared ex parte. The court directed recovery through the sale of mortgaged and other properties.

What did the court decide?

Allowed recovery of Rs. 23,56,168/- with interest; Recovery Certificate issued; Proceeds to be distributed by Recovery Officer.

State Bank of India versus Sh. Deputy Singh @ Dipti 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: 850 of 2023 Date of Institution: 21.04.2023 Date of Decision: 29.01.2025

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SBI, having branches all over India having a branch at Sadiq, Tehsil Sadiq, District Faridkot, Punjab.

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……..Applicant Vs.

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Sh. Deputy Singh @ Dipti Singh s/o Sh. Harjoginder Singh r/o Village Dhilwan Tehsil & District Faridkot, Punjab.

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……….Defendant

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Advocates

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Sh. Aseem Kataria, Counsel for the applicant bank. Defendant – ex parte

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OA for the Recovery of Rs.23,56,168/- with interest @14.05% per annum with half-yearly rests from 21.04.2023.

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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.23,56,168/- with interest against Sh. Deputy Singh. 2. Bank’s case is that on 03.08.2015, it had granted a KCC Limit of Rs.12.50 Lacs and Debt Swap Limit of Rs.1.00 Lacs for agricultural purposes. To secure the loan, Defendant had mortgaged his property (fully detailed in para No.3A of the application). The loan was chargeable to interest @14.05% per annum with half-yearly rests. On 03.04.2023, a sum of Rs.23,56,168/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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3. On 29.05.2023, summons was sent to the defendant by registered
post, which was duly served. However, defendant did not put in
appearance. Vide order dated 03.07.2024, he was proceeded_ex parte_.
4. In order to prove its case, the Bank has placed on record the
affidavit of Mr. Jitandra Pal Singh, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-14.
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.13.50 Lacs and on 03.04.2023, a sum of Rs. 23,56,168/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.23,56,168/- (Rupees Twenty Three Lacs Fifty Six Thousand One
Hundred Sixty Eight Only) with interest @14.05% per annum with half- yearly rests from 21.04.2023, 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: 29.01.2025 Presiding Officer DRT-1, Chandigarh

State Bank of India v. Sh. Deputy Singh @ Dipti Singh

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sh. Deputy Singh @ Dipti Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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