Allowed

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

DRT29 Aug 2025OA/934/2022

Case brief

AI extract

What is this about?

The Tribunal allowed an Originating Application by Punjab National Bank seeking recovery of Rs.27,12,130/- with interest from the principal debtor and guarantor, who were absent. The recovery certificate directs the sale of mortgaged land.

What did the court decide?

Recovery of Rs.27,12,130/- with interest allowed; issuance of Recovery Certificate; sale of mortgaged land.

Punjab National Bank (Oriental Bank of Commerce)… — Contract and Commercial Disputes | 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: 934/2022 Date of Institution: 30.04.2022 Date of Decision: 29.08.2025

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

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……..Applicant

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Vs.

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Ravinder Singh s/o Sh. Harbhajan Singh, r/o Village Itta Badhi, P.O. Manakr, District Jalandhar, Punjab.

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Sarabjit Singh s/o Sh. Ghanaya Singh, r/o Village Nandachour, District Hoshiarpur, 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 05.03.2024 .

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OA for the Recovery of Rs.27,12,130/- with interest @10.50% per annum with half-yearly rests from 30.04.2022.

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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.27,12,130/- with interest against Sh. Ravinder Singh and another (defendants).

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Bank’s case is that on 06.03.2012, it had granted a loan of Rs.9.00 Lacs to defendant No.1 in the form of O.G.C. Limit for agricultural purpose. To secure the loan, Defendant No.1 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. On 31.03.2022, a sum of Rs.27,12,130/- was due from the defendants. The defendants had duly acknowledged their liability

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towards the debt on 27.02.2015 & 20.02.2018 & 28.01.2021. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 02.06.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 05.03.2024, they were proceeded ex parte . 4. 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-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.9.00 Lacs and on 31.03.2022, a sum of Rs.27,12,130/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.27,12,130/- (Rupees Twenty Seven Lacs Twelve Thousand One Hundred Thirty Only) with interest @10.50% per annum with half-yearly rests from 30.04.2022, till the date of payment is hereby allowed with costs. The liability of both the defendants 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 defendants. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 09.10.2025, 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 .

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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: 29.08.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

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

Case brief

What is this about?

What did the court decide?

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

Case brief

What is this about?

What did the court decide?

What the court decided

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