Allowed

Punjab National Bank v. Sooba Singh

DRT27 Apr 2026OA/124/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by Punjab National Bank for the recovery of ₹34.46 Lakhs from two defaulting borrowers and a guarantor. The court validated the loan advances and mortgage, permitted recovery via sale of mortgaged and personal properties, and directed the issuance of a Recovery Certificate.

What did the court decide?

Recovery of ₹34,46,944.66 plus interest with costs; Recovery Certificate issued; Defective parties directed to appear for distribution of proceeds.

Punjab National Bank versus Sooba Singh — 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: 124 of 2023 Date of Institution: 15.12.2022 Date of Decision: 27.04.2026

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Punjab National Bank having its branches all over India and a branch at Gurdaspur Road, Dhariwal District Gurdaspur, Punjab.

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……..Applicant

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Vs.

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Sooba Singh s/o Sh. Niranjan Singh r/o H.no.1, Village Sanghar, P.O. Dhariwal, tehsil and District Gurdaspur, Punjab.

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Heera Singh s/o Sh. Baba Singh r/o Village Sanghar, P.O. Dhariwal, tehsil and District Gurdaspur, Punjab.

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……….Defendants

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Advocates

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Sh. Anirudh Gupta proxy counsel for Sh. Rajesh Gupta, Counsel for the applicant bank. Defendants - ex parte .

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OA for the Recovery of ₹34,46,944.66p with interest from 15.12.2022.

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ORDER

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Punjab National Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹34,46,944.66p with interest against Sh. Sooba Singh and another (defendants).

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Bank’s case is that on 16.12.2013, it had granted a loan of ₹20.00Lacs to defendant no.1 in the form of K.G.S. Limit for agricultural purpose. On 15.06.2017, bank granted another loan of ₹4.00Lacs to Defendant no.1 for the purchase of Tractor. Defendant no.2 stood as the guarantor for the Term Loan. On 15.09.2017, bank granted another loan of ₹1.00Lac to Defendant no.1 in the form of Term Loan for repayment to moneylender. To secure the loan, Defendant no.1 had mortgaged his land (fully detailed in para No.3A of the application). The loans were

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chargeable to different rates of interest. The defendants had acknowledged the liability towards the debt on 19.10.2016, 18.10.2019, 14.11.2019 and 10.10.2022. On 30.09.2022, a sum of ₹34,46,944.66p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 20.08.2024, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 25.09.2023, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Amit Dab, Deputy Manager along with the loan and security documents and marked them as Exhibit A-1 to A-17. 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 loans under different schemes and on 30.09.2022, a sum of ₹34,46,944.66p was due. 6. Accordingly, the application of the bank for the recovery of ₹34,46,944.66p (Rupees Thirty Four Lacs Forty Six Thousand Nine Hundred and Forty Four and Sixty Six Paise Only) i.e. ₹31,90,357.66p in the K.G.S. Account with interest @10.75% per annum with half-yearly, ₹79,159/- in the Term Loan (Repayment) Account with interest @8.95% per annum with half-yearly rests and ₹1,77,428/- in the term Loan (Tractor) Account with interest @8.65% per annum with half-yearly rests from 15.12.2022, till the date of payment is hereby allowed with costs. The liability of defendant nos.1 and 2 would be joint and several for the amount due in Term Loan (Tractor) whereas Defendant no.1 would be fully liable for the amount due in K.G.S. Account and Term Loan (Repayment). Bank can recover its dues by the sale of mortgaged

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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 29.05.2026, 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 .

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A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties.

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Pronounced in the open Court. (A S Narang) Dated: 27.04.2026 Presiding Officer DRT-1, Chandigarh

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(Law Researcher)

Punjab National Bank v. Sooba Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Sooba Singh

Case brief

What is this about?

What did the court decide?

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