The Debt Recovery Tribunal allowed the applicant bank's application under Section 19 of the RDB Act for recovery of a term loan default amount, declaring the respondent liable to pay the principal sum along with interest.
Recovery Certificate issued; Defendant directed to pay Rs. 22,07,404.43 with interest @ 8% p.a.
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.
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO. 1251/2025
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 30.08.2025
DATE OF DECISION: 19.02.2026
Union Bank of India, a body corporate, constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act no. V of 1970 having its Head Office Union Bank Bhavan, 239, Vidhan Bhawan Marg, Nariman Point, Mumbai and one of the Branch amongst other places at Bhadson, Tehsil Nabha, District Patiala through its General Power of Attorney cum Branch Manager Sh. Manpreet Singh.
……..Applicant
Versus
Sh. Daljeet Singh S/o Sh. Gurcharan Singh R/o of Village Jasso Majra, Tehsil Nabha, District Patiala-147202.
……….Defendant
Advocates:
Argued by Sh. Sumant Kumar, Advocate proxy for Sh. Abhineet Taneja, Advocate for the applicant (Through VC) Defendant already ex-parte vide order dated 08.01.2026
FINAL ORDER
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OA NO.1251/2025 UNION BANK OF INDIAVS. DALJEET SINGH
Documents executed: General Term Laon Agreement, DP Note with Letter of Continuity, both dated 24.08.2023, which are Annexures A6 and A7 to this OA; Legal Notice dated 01.02.2025, which is Annexure A8 to this OA; Statement of Account with IT Certificate, which is Annexure A10 to this OA.
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OA NO.1251/2025 UNION BANK OF INDIAVS. DALJEET SINGH
relevant documents in favour of the bank. The defendant failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, account of the defendant was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs. 22,07,404.43 (Rupees Twenty Two Lacs Seven Thousand Four Hundred Four and Paise Forty Three Only) along with interest from the defendant, from the date of filing of the present Original Application till realization of the account. 10. In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @9.00%p.a. with half yearly rests from 01.07.2025 till the realization.
The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the mortgaged property/hypothecated assets, undertaking of the defendant, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @08.00%p.a. in the loan account from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.
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OA NO.1251/2025 UNION BANK OF INDIAVS. DALJEET SINGH
defendant. The applicant is at liberty to enforce the claim through due process of law. 12. Any other application pending stands disposed of. 13. Issue Recovery Certificate accordingly. 14. Parties to appear before Learned Recovery Officer of this Tribunal on 07.03.2026. 15. Copy of this order be given dasti to the applicant and be sent to defendant through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned. Pronounced by me in the open Tribunal . Dated: 19.02.2026. (MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh
1 issue framed by the court
Whether the applicant is entitled to recover the outstanding debt amount from the respondent.
1 provisions across 1 enactments
Union Bank of India
Daljeet Singh
Mridulesh Kumar Singh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
