The DRT allowed an application by Union Bank of India for recovery of Rs 23,57,608.81 from two defendants regarding a housing loan default. The court granted interest at 8.00%p.a and directed the issuance of a Recovery Certificate.
Recovery of Rs. 23,57,608.81 with interest at 8.00%p.a; Recovery Certificate issued.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.900/2024
PRESIDED OVER BYMRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 15.07.2024
DATE OF DECISION: 24.04.2025
Union Bank of India, having its Head Office at 239, Vidhan Bhawan Marg, Nariman Point, Mumbai and having its Branch Office at Union Bank of India, SCO. 33, Sector-7C, Madhya Marg, Chandigarh-160007 through its Attorney Holder Sh. Vishnu Dayal, Chief Manager at Union Bank of India, Regional Office, SCO 64-65, Bank Square, Sector 17B, Chandigarh-160017
……..Applicant
Versus
2nd Address : House No. HIG 156, Sector 48C, District SAS Nagar (Mohali), Punjab, 160048
2nd Address : House No. HIG 156, Sector 48C, District SAS Nagar (Mohali), Punjab, 160048
….……Defendants
Advocates:
Present Sh. Ravinder Kumar, Advocate for the Applicant Defendants are ex parte
FINAL ORDER
2 OA NO.900/2024 UNION BANK OF INDIA VS BHUPINDER KAUR AND ANOTHER
applicant, who is competent to institute the Original Application vide Power of Attorney dated 30.01.2003, which is Annexure A1 to this OA.
3 OA NO.900/2024 UNION BANK OF INDIA VS BHUPINDER KAUR AND ANOTHER
defendants were served recall notices but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly.
The Tribunal is of the considered opinion that sometimes inappropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the mortgaged property, undertaking of the defendant, quantum of loan and prevalent market
4 OA NO.900/2024 UNION BANK OF INDIA VS BHUPINDER KAUR AND ANOTHER
rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @08.00%p.a. in the loan account from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.
Pronounced by me in the open Tribunal . Dated: 24.04.2025
(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh
5
OA NO.900/2024
UNION BANK OF INDIA VS BHUPINDER KAUR AND ANOTHER
3 issues framed by the court
Whether the defendants are liable to pay the recovery of dues along with interest.
Whether uniform simple interest at 8.00%p.a shall be granted from the date of filing the Original Application till realization.
Whether Recovery Certificate shall be issued in favour of the applicant.
1 provisions across 1 enactments
Union Bank of India
Smt. Bhupinder Kaur
Sh. Jaspal Singh Chahal
Mridulesh Kumar Singh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
