Allowed

Indian Bank (Allahabad Bank) v. Parminder Singh

DRT22 Dec 2025OA/978/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of Rs. 35,58,233/- plus interest against the principal borrower and the guarantor, who were proceeded ex parte. The court permitted recovery from mortgaged land and other properties and directed issuance of a recovery certificate.

What did the court decide?

Recovery of Rs. 35,58,233/- with interest; Recovery Certificate issued; Directions for sale of mortgaged land and distribution of proceeds by Recovery Officer.

Indian Bank (Allahabad Bank) versus Parminder Singh — 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: 978/2023 Date of Institution: 17.03.2023 Date of Decision: 22.12.2025 Indian Bank (erstwhile Allahabad Bank) having its branches all over India and a branch at Hariana, District Hoshiarpur, Punjab. ……..Applicant Vs. 1. Parminder Singh s/o Sh. Punjab Singh, r/o Village Neela Naloya, P.O. Bassi Bazid, Tehsil and District Hoshiarpur, Punjab. 2^nd Address: H.No.22, Village Nangal Pind, P.O. Hariana, District Hoshiarpur, Punjab. 2. Avtar Singh s/o Sh. Sohan Singh, r/o Village Dhanowal, PO Bassi Ballo, Tehsil and District Hoshiarpur, Punjab. ……….Defendants

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Advocates

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Ms. Manjari Joshi, Counsel for the applicant bank. Defendants - ex parte vide order dated 11.12.2024 . OA for the Recovery of Rs.35,58,233/- with interest from 17.03.2023. ORDER 1. Indian Bank has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.35,58,233/- with interest against Sh. Parminder Singh and another (defendants). 2. Bank’s case is that on 05.01.2013, it had granted a loan of Rs.16.00 Lacs to defendant No.1 in the form of K.C.C Limit under Potato Grower Credit Card Scheme for agricultural purpose. To secure the loan, Defendant had mortgaged his agricultural land (fully detailed in para No.3A of the application). Defendant No.2 stood as guarantor vide deed of guarantee dated 14.01.2013, (Annexure A-7). On 20.02.2018, bank restructured the amount of Rs.5.67 Lacs (outstanding interest) in

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the above mentioned K.C.C. Limit into a Term Loan of Rs.5.67 Lacs. Both the loans were chargeable to different rates of interest. Defendants had duly acknowledged their liability towards the debt on 29.11.2015, 20.02.2018, 27.03.2020. On 10.03.2023, a sum of Rs.35,58,233/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 12.06.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 11.12.2024, 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. Pawan Kumar Sharma, Manager 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 loans under various schemes and on 10.03.2023, a sum of Rs.35,58,233/- was due.

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Accordingly, the application of the bank for the recovery of Rs.35,58,233/- (Rupees Thirty Five Lacs Fifty Eight Thousand Two Hundred Thirty Three Only) i.e. Rs.26,14,732/- in K.C.C. Limit with interest @11.45% per annum with yearly rests, Rs.9,43,501/- in Restructured Term Loan with interest @10.75% per annum with halfyearly rests from 17.03.2023, 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.

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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 27.01.2026, who is directed to distribute the sale proceeds of the mortgaged land and standing crops 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 parties. Pronounced in the open Court. (A S Narang) Dated: 22.12.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Indian Bank (Allahabad Bank) v. Parminder Singh

Case brief

What is this about?

What did the court decide?

Indian Bank (Allahabad Bank) v. Parminder Singh

Case brief

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What did the court decide?

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