Allowed

Punjab National Bank (Oriental Bank of Commerce) v. Sh Balwant Singh

DRT5 May 2026OA/109/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's OA for recovery of a disputed agricultural loan amounting to ₹49,36,998/- with interest, directing the sale of mortgaged land and issuance of a Recovery Certificate.

What did the court decide?

Recovery of ₹49,36,998/- with interest; issuance of recovery certificate; order for sale of mortgaged land and standing crops.

Punjab National Bank (Oriental Bank of Commerce)… — Contract and Commercial Disputes | 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: 109/2024

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Date of Institution: 20.12.2023 Date of Decision: 05.05.2026

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Punjab National Bank (erstwhile Oriental Bank of Commerce) having its branches all over India and a branch at Pandori Nijjran, District Jalandhar, Punjab.

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……..Applicant

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Vs.

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Sh. Balwant Singh s/o Sh. Gurnam Singh, r/o VPO Safipur, Tehsil and District Jalandhar, Punjab.

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Mohinder Kaur w/o Sh. Gurnam Singh, r/o VPO Safipur, Tehsil and District Jalandhar, Punjab. ……….Defendants

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Advocates

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Sh. Shivoy Dhir, Counsel for the applicant bank. Defendants - ex parte vide order dated 11.11.2024 .

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OA for the Recovery of ₹49,36,998/- with interest @11.50% per annum with half-yearly rests from 20.12.2023.

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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 ₹49,36,998/- with interest against Sh. Balwant Singh and another (defendants).

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Bank’s case is that on 28.09.2013, it had granted a loan of ₹20.00 Lacs to the defendants in the form of OGC Limit for agricultural purpose. To secure the loan, Defendant No.1 had mortgaged his agricultural land (fully detailed in para No.3A of the application). The loan was chargeable to interest @11.50% per annum with half-yearly rests. Defendants had duly acknowledged their liability towards the debt on 01.10.2016, 30.09.2019 and 11.07.2022. On 06.12.2023, a sum of

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₹49,36,998/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 06.02.2024, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 11.11.2024, they were proceeded ex parte . 4. 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-12. 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 ₹20.00 Lacs and on 06.12.2023, a sum of ₹49,36,998/- was due. 6. Accordingly, the application of the bank for the recovery of ₹49,36,998/- (Rupees Forty Nine Lacs Thirty Six Thousand Nine Hundred Ninety Eight Only) with interest @11.50% per annum with half-yearly rests from 20.12.2023, 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 09.06.2026, 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: 05.05.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank (Oriental Bank of Commerce) v. Sh Balwant Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank (Oriental Bank of Commerce) v. Sh Balwant Singh

Case brief

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What did the court decide?

What the court decided

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