Allowed

Punjab National Bank v. Baljinder Singh

DRT16 Jan 2026OA/1026/2023

Case brief

AI extract

What is this about?

The DRT-I, Chandigarh allowed the applicant bank's application granted under Section 19 of the RDB Act for recovery of loan dues totaling Rs.52.32 Lacs from two defendants who mortgaged agricultural land, issuing a Recovery Certificate and directing sale of mortgaged property.

What did the court decide?

Recovery of Rs.52,32,440.24p with interest allowed, Recovery Certificate issued, sale of mortgaged land directed.

Punjab National Bank versus Baljinder Singh — Banking and Recovery | DRT (2026)

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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: 1026/2023

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Date of Institution: 17.05.2023 Date of Decision: 16.01.2026

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Punjab National Bank having its branches all over India and a branch at Kartarpur, Jalandhar, Punjab.

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……..Applicant

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Vs.

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Baljinder Singh S/o Sucha Singh, r/o Village Ambia Tohfa, Post Office Kartarpur, Distt. Jalandhar, Punjab.

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Gurjit Kaur, W/o Sucha Singh, Village Ambia Tohfa, Post Office Kartarpur, Distt. Jalandhar, Punjab.

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……….Defendants

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Advocates

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Ms. Nisha Meena, Nodal Officer for the applicant bank. Defendants - ex parte vide order dated 06.09.2024 .

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OA for the Recovery of Rs.52,32,440.24p with interest @10.50% per annum with half-yearly rests from 17.05.2023.

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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.52,32,440.24p with interest against Sh. Baljinder Singh and another (defendants).

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Bank’s case is that on 26.05.2015, it had granted a loan of Rs.30.00 Lacs to defendant Nos.1 and 2 in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant Nos.1 and 2 had mortgaged their agricultural land (fully detailed in para No.3A of the application). The loan was chargeable to interest @10.50% per annum with half-yearly rests. Defendants had duly acknowledged their liability towards the debt on 06.01.2018, 30.06.2020. On 31.03.2023, a sum of Rs.52,32,440.24p was due from the defendants. Despite repeated

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requests, defendants did not make the repayment. Hence, this application.

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On 06.07.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 06.09.2024, 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. Surender Kumar, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-16. 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.30.00 Lacs and on 31.03.2023, a sum of Rs.52,32,440.24p was due. 6. Accordingly, the application of the bank for the recovery of Rs.52,32,440.24p (Rupees Fifty Two Lacs Thirty Two Thousand Four Hundred Forty and Paise Twenty Four Only) with interest @10.50% per annum with half-yearly rests from 17.05.2023, 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. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 18.02.2026, 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 .

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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: 16.01.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Baljinder Singh

Case brief

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Punjab National Bank v. Baljinder Singh

Case brief

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