The Debts Recovery Tribunal allowed an application by Punjab National Bank for recovery of Rs. 31,49,160.32 with interest against M/s Stag Industries and Sh. Pawan Kumar, finding the loan advanced and dues established.
Recovery of Rs. 31,49,160.32 with interest allowed; Recovery Certificate issued; respondents jointly and severally liable.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 1244 of 2023 Date of Institution: 06.07.2023 Date of Decision: 29.08.2026
Punjab National Bank having its branches all over India and a branch at Focal Point, District Jalandhar, Punjab.
……..Applicant Vs.
……….Defendants
Advocates
Sh. V.K. Dewan, Counsel for the applicant bank. None for the Defendants.
OA for the Recovery of Rs.31,49,160.32p with interest @11.85% per annum with monthly rests from 06.07.2023.
ORDER
2
was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
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| hereby allowed with costs. The liability of all the defendants would be |
|---|
| joint and several. Bank can recover its dues by the sale of hypothecated |
| assets fully detailed in para No.5.4) 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 |
| 30.09.2026. |
| 10. 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: 29.08.2026 Presiding Officer DRT-1, Chandigarh |
2 issues framed by the court
Whether the application for recovery of outstanding principal and interest is maintainable under Section 19 of the RDB Act.
Whether the bank has established liability of the defendants for the claimed amount.
1 provisions across 1 enactments
Punjab National Bank
M/s Stag Industries
Sh. Pawan Kumar
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
