The Tribunal allowed an impleadment application for a third applicant and directed the respondents to pay dues including interest by specified dates. Disposition of possession was stayed pending compliance.
Allowance of impleadment; direction to pay Rs. 4.60 Lacs by 12.06.2025; balance with interest by 13.07.2025; stay on dispossession.
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DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
SA/87/2025 MS ZIMIDARA AGRI STORE Vs PUNJAB AND SIND BANK
22.05.2025 Item No.13
Present: Mr. Puru Gupta, Counsel for the Applicants along with Mr. Mandeep Singh and Lakhwinder Singh applicants No.2 and 3 present (on VC). Ms. Sukhdeep Kaur, Counsel for respondent bank along with Mr. Ikjot Singh, Nodal Officer/PSB.
Mr. Puru Gupta, states that he has moved an application for impleading Mandeep Singh as a party, as (applicant No.3). He has also filed his vakalatnama on behalf of the Mandeep Singh. Subject to all just grounds that may be available to the parties, the application is hereby allowed.
On 13.05.2025, applicant has handed over a draft of Rs.2.00 Lacs and made a statement that a sum of Rs.9.00 Lacs and odd sum is due and he would make the payment of 50% of the amount within 30 days and the remaining sum in next month.
In view of this, applicants are directed to pay Rs.4.60 Lacs by 12.06.2025 and the remaining sum along with interest by 13.07.2025. Subject to the undertakings given by the applicants their dispossession is stayed and in case, the payment is not made Mandeep Singh would himself surrender the possession. In view of this, SA stands disposed of.
File be consigned to record room after due compliance.
(A S Narang) Presiding Officer DRT-I, Chandigarh
PANKAJ
MS ZIMIDARA AGRI STORE
PUNJAB AND SIND BANK
A S Narang
As recorded by the court registry
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