Allowed

Punjab and Sind Bank v. Simranjit Singh

DRT18 Feb 2026OA/1073/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of ₹27,21,966/- with interest under the RDB Act. The defendants failed to appear, and the debt was confirmed based on bank documents. Recovery was ordered from mortgaged property and personal assets.

What did the court decide?

Recovery of ₹27,21,966/- with interest granted; order for execution of recovery certificate against mortgaged and personal property.

Punjab and Sind Bank versus Simranjit Singh — Execution and Attachment | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 1073 of 2023 Date of Institution: 31.05.2023 Date of Decision: 18.02.2026

¶4

Punjab & Sind Bank having its branches all over India and a branch at Ghumman Khurd, District Gurdaspur, Punjab.

¶5

……..Applicant

¶6

Vs.

¶7

Simranjit Singh S/o Avtar Singh,Resident of Village Dulla Nangal, Post office Dhariwal Tehsil Kalanaur, District Gurdaspur Punjab.

¶8

Major Singh S/o Sukhwinder Singh, Resident of Village Dulla Nangal, Post office Dhariwal Tehsil Kalanaur, District Gurdaspur Punjab.

¶9

……….Defendants

¶10

Advocates

¶11

Sh. Anil Sharma, Counsel for the applicant bank. Defendants - ex parte .

¶12

OA for the Recovery of ₹27,21,966/- with interest @12.95% per annum with half-yearly rests from 31.05.2023.

¶13

ORDER

¶14

Punjab & Sind Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹27,21,966/- with interest against Sh. Simranjit Singh and another (defendants).

¶15

Bank’s case is that on 25.02.2020, it had granted a loan of ₹20.00Lacs to defendant no.1 in the form of K.C.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 the guarantor. The loan was chargeable to interest @12.95% per annum with half-yearly rests. On 31.03.2023, a sum of ₹27,21,966/- was

¶16

¶17

due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

¶18

On 30.06.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 13.08.2025, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Rajan, Authorised Officer along with the loan and security documents and marked them as Exhibit A-1 to A-9. 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 ₹20.00Lacs and on 31.03.2023, a sum of ₹27,21,966/- was due. 6. Accordingly, the application of the bank for the recovery of ₹27,21,966/- (Rupees Twenty Seven Lacs Twenty One Thousand Nine Hundred and Sixty Six Only) with interest @12.95% per annum with half-yearly rests from 31.05.2023, till the date of payment is hereby allowed with costs. The liability of all 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 30.03.2026, who is directed to distribute the sale proceeds of the mortgaged property(ies) and standing crops as per the provisions of Section 19(20-AB) of the Act .

¶19

¶20

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: 18.02.2026 Presiding Officer DRT-1, Chandigarh Amanpreet (Law Researcher)

Punjab and Sind Bank v. Simranjit Singh

Case brief

What is this about?

What did the court decide?

Punjab and Sind Bank v. Simranjit Singh

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Union Bank of India versus M/s Singla Trading Company

Icici Bank Limited versus Satwant Singh

Icici Bank Limited versus Jatinder Singh

Jammu and Kashmir Bank Limited versus Shri Mohd. Shakeel

Kotak Mahindra Bank Limited versus Smt Davinder Kaur

Union Bank of India versus M/S Smile Dental Clinic and Ors.