Allowed

Punjab National Bank (Oriental Bank of Commerce) v. Kuldeep Singh

DRT19 Sept 2025OA/881/2022

Case brief

AI extract

What is this about?

DTI allowed bank’s recovery application for undisputed loan debt via ex parte order. Decree limited legal heirs’ liability to inherited property while guarantor liable for full amount. Recovery certificate issued with direction for land sale.

What did the court decide?

Application for recovery of Rs.46,53,017.33 with interest allowed; recovery certificate issued; pending IAs disposed; parties directed to Recovery Officer for distribution.

Punjab National Bank (Oriental Bank of Commerce) versus… — Company and Corporate | 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: 881/2022 Date of Institution: 29.04.2022 Date of Decision: 19.09.2025

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Punjab National Bank (erstwhile Oriental Bank of Commerce) having its branches all over India and a branch at Adampur, Distt. Jalandhar, Punjab.

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……..Applicant

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Vs.

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Kuldeep Singh s/o S. Harjit Singh, r/o H.No.113, Village Haripur, Tehsil & District Jalandhar, Punjab, (since deceased), through his LRs:

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a) Smt. Jasbir Kaur w/o Late Sh. Kuldeep Singh, r/o H.No.113, Village Haripur, Tehsil & District Jalandhar, Punjab.

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b) Sh. Balraj Singh s/o Late Sh. Kuldeep Singh, r/o H.No.113, Village Haripur, Tehsil & District Jalandhar, Punjab.

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c) Sh. Sukhraj Singh s/o Late Sh. Kuldeep Singh, r/o H.No.113, Village Haripur, Tehsil & District Jalandhar, Punjab.

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Harbhajan Singh s/o Sh. Kehar Singh, r/o Village Haripur, Tehsil & District Jalandhar, Punjab.

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……….Defendants

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Advocates

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Sh. Iqbal Mohammed., Counsel for the applicant bank. Defendants - ex parte vide order dated 22.08.2023 .

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OA for the Recovery of Rs.46,53,017.33p with interest @10.50% per annum with half-yearly rests from 29.04.2022.

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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.46,53,017.33p with interest against Sh. Kuldeep Singh and another (defendants).

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Bank’s case is that on 31.10.2009, it had granted a loan of Rs.13.00Lacs to defendant No.1 in the form of O.G.C Limit for

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agricultural purpose. To secure the loan, Defendant No.1 (deceased) had mortgaged his land (fully detailed in para No.3A of the application). Defendant No.2 stood as guarantor. The loan was chargeable to interest @10.50% per annum with half-yearly rests. Defendants had duly acknowledged their liability towards the debt on 31.10.2012 & 01.08.2014 & 08.12.2014 & 07.12.2017 & 01.12.2020. On 31.03.2022, a sum of Rs.46,53,017.33p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 25.05.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 22.08.2023, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Sh. Vinay Kumar, Authorized Officer along with the loan and security documents and marked them as Exhibit A-1 to A-17.

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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.13.00 Lacs and on 31.03.2022, a sum of Rs.46,53,017.33p was due. 6. Accordingly, the application of the bank for the recovery of Rs.46,53,017.33p (Rupees Forty Six Lacs Fifty Three Thousand Seventeen and Paise Thirty Three Only) with interest @10.50% per annum with half-yearly rests from 29.04.2022, till the date of payment is hereby allowed with costs. The liability of Legal Heirs of the deceased defendant would be limited upto the extent of the property inherited by them from Sh. Kuldeep Singh (deceased) whereas the defendant No.2 would be liable for the whole decretal amount. 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 no.2.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 03.11.2025, who is directed to distribute the sale proceeds of the mortgaged land and standing crops as per the provisions of Section 19(20AB) 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: 19.09.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank (Oriental Bank of Commerce) v. Kuldeep Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank (Oriental Bank of Commerce) v. Kuldeep Singh

Case brief

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What did the court decide?

What the court decided

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