Allowed

Punjab National Bank v. Sh. Karam Singh

DRT17 Apr 2025OA/962/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed Punjab National Bank's application under Section 19 of the RDB Act for recovery of Rs.32,40,425.28p with interest. The order held legal heirs liable to pay dues from inherited property and directed the issuance of a Recovery Certificate.

What did the court decide?

Recovery of Rs.32,40,425.28p with interest allowed; Liabilities of legal heirs imposed; Recovery Certificate issued; S Raid proceeds directed for distribution.

Punjab National Bank versus Sh. Karam 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: 962/2023

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Date of Institution: 03.05.2023 Date of Decision: 17.04.2025

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Punjab National Bank having its branches all over India and a branch at Wadala Granthian, Gurdaspur, Punjab and its recovery vertical i.e. Circle Sastra Centre, Pathankot, Punjab.

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……..Applicant Vs.

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Sh. Karam Singh s/o Sh. Tarsem Singh, r/o #119, Village Chonne, Tehsil Batala, District Gurdaspur, Punjab. (Now Deceased) a) Smt. Gurjit Kaur w/o Sh. Karam Singh, r/o #119, Village Chonne, Tehsil Batala, District Gurdaspur, Punjab. (Legal Heir)

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b) Sh. Gurpreet Singh s/o Sh. Karam Singh, r/o #119, Village Chonne, Tehsil Batala, District Gurdaspur, Punjab. (Legal Heir)

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c) Smt. Kulwinder Kaur d/o Sh. Karam Singh, r/o #119, Village Chonne, Tehsil Batala, District Gurdaspur, Punjab. (Legal Heir)

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d) Smt. Maninder Kaur d/o Sh. Karam Singh, r/o #119, Village Chonne, Tehsil Batala, District Gurdaspur, Punjab. (Legal Heir)

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……….Defendants

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Advocates

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Ms. Sonal, proxy Counsel for Sh. Anirudh Gupta, Counsel for the applicant bank. Defendants - ex parte .

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OA for the Recovery of Rs.32,40,425.28p with interest @11.50% per annum with half-yearly rests from 03.05.2023.

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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.32,40,425.28p with interest against Sh. Karam Singh (now deceased) through his LRs (defendants).

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2 2. Bank’s case is that on 20.07.2012, it had granted a C.C. Limit of
Rs.10.00 Lacs and Term Loan of Rs.5.00 Lacs to defendant Sh. Karam
Singh (now deceased) for agricultural purpose. To secure the loan, Sh.
Karam Singh (now deceased) had mortgaged his land (fully detailed in para No.3A of the application). Further, on 18.03.2015 at the request of Sh. Karam Singh (now deceased) bank had granted another Term Loan of
Rs.1.00 Lacs. The loans were chargeable to different rates of interest. On 31.03.2023, a sum of Rs.32,40,425.28p was due from the defendants.
Despite repeated requests, defendants did not make the repayment. Hence, this application.
3. On 09.06.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 16.07.2024, they were proceeded_ex_ parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Gurpreet Singh, Deputy Manager along with the loan and security documents and marked them as Exhibit A-1 to A-21.
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 C.C. Limit of Rs.10.00 Lacs; Term Loan of Rs.5.00 Lacs and another Term Loan of
Rs.1.00 Lacs and on 31.03.2023, a sum of Rs.32,40,425.28p was due.
6. Accordingly, the application of the bank for the recovery of
Rs.32,40,425.28p (Rupees Thirty Two Lacs Forty Thousand Four
Hundred Twenty Five and Twenty Eight Paise Only) with interest
@11.50% per annum with half-yearly rests from 03.05.2023, till the date
of payment is hereby allowed with costs. Bank can recover its dues by the sale of mortgaged land fully detailed in para No.3A of the application.

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The LRs of Sh. Karam Singh (now deceased) would be liable to pay the

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dues to the extent of property inherited by them from Sh. Karam Singh (now deceased).

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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 20.05.2025, 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.

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Pronounced in the open Court. (A S Narang) Dated: 17.04.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Sh. Karam Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Sh. Karam Singh

Case brief

What is this about?

What did the court decide?

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