The Debts Recovery Tribunal allowed the bank's application under Section 19 of the RDB Act, directing the recovery of the outstanding principal and interest with costs and ordering the issuance of a Recovery Certificate.
Recovery of ₹31,01,818.76 with interest allowed; Recovery Certificate issued; parties directed to appear before Recovery Officer.
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: 1252/2023 Date of Institution: 03.05.2023 Date of Decision: 14.05.2026
Indian Overseas Bank having its branches all over India and a branch at G.T. Road, Kartarpur, District Jalandhar, Punjab.
……..Applicant
Vs.
……….Defendants
Advocates
Ms. Parmeet Kaur proxy counsel for Sh. I.S. Bhatia, Counsel for the applicant bank.
Defendants - ex parte vide order dated 29.01.2026 .
OA for the Recovery of ₹31,01,818.76p with interest @12.50% per annum with half-yearly rests from 03.05.2023.
ORDER
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12.06.2019 and 10.02.2022. On 28.02.2023, a sum of ₹31,01,818.76p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
| 3. On 03.08.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 29.01.2026, they were proceeded_ex_ parte. |
|---|
| 4. In order to prove its case, the Bank has placed on record the |
| affidavit of Sh. Sandeep Kumar, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-36. |
| 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 28.02.2023, a sum of ₹31,01,818.76p was due. |
| 6. Accordingly, the application of the bank for the recovery of |
| ₹31,01,818.76p (Rupees Thirty One Lacs One Thousand Eight Hundred Eighteen and Paise Seventy Six Only) with interest @12.50% per annum with half-yearly rests from 03.05.2023, 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 |
| **18.06.2026,**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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2 issues framed by the court
Whether the applicant bank established its claim for recovery of principal amount and interest against the defendants as co-borrower and guarantor.
Whether the application filed under Section 19 of the RDB Act is maintainable and deserves allowance.
2 provisions across 1 enactments
Indian Overseas Bank
Smt. Manjit Kaur w/o Sh. Udham Singh
Sh. Sukhjit Singh s/o Sh. Gurdeep Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
