Allowed

Punjab National Bank v. Gurnam Singh

DRT29 Aug 2026OA/1321/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an ex parte application filed by Punjab National Bank under Section 19 of the RDB Act, ordering the recovery of approx. ₹26.42 Lakhs with interest from the respondent who failed to appear.

What did the court decide?

Recovery of ₹26,42,681 with interest @14% per annum allowed; order for sale of mortgaged land and recovery from personal property; recovery certificate issued.

Punjab National Bank versus Gurnam Singh — Contract and Commercial Disputes | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 1321 of 2023 Date of Institution: 02.05.2023 Date of Decision: 29.08.2026

¶4

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

¶5

……..Applicant Vs. Mr. Gurnam Singh s/o Gurdial Singh r/o VPO Hakimpur, Tehsil & District Gurdaspur.

¶6

……….Defendant

¶7

Advocates

¶8

Sh. Ankit Kaushal, Counsel for the applicant bank. Defendant - ex parte .

¶9

OA for the Recovery of ₹26,42,681/- with interest @14% per annum with yearly rests from 02.05.2023.

¶10

ORDER

¶11

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 ₹26,42,681/- with interest against Mr. Gurnam Singh (defendant).

¶12

Bank’s case is that on 16.07.2014, it had granted K.C.C. Limit of ₹15.00Lacs to defendant for agricultural purpose. To secure the loan, Defendant had mortgaged his land (fully detailed in para No.5.6 of the application). The loan was chargeable to interest @14% per annum with yearly rests. The defendant had acknowledged the liability towards the debt on 12.05.2017 and 02.05.2020. On 31.03.2023, a sum of ₹26,42,681/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

¶13

¶14

3. On 14.08.2023, summons was sent to the defendant by registered
post, which was duly served. However, defendant did not put in
appearance. Vide order dated 16.10.2025, he proceeded was_ex parte_.
4. In order to prove its case, the Bank has placed on record the
affidavit of Mr. Amit Kumar, Authorised Officer along with the loan and security documents and marked them as Exhibit A-1 to A-9. 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 ₹15.00Lacs and on 31.03.2023, a sum of ₹26,42,681/- was due.
6. Accordingly, the application of the bank for the recovery of
₹26,42,681/- (Rupees Twenty Six Lacs Forty Two Thousand Six
Hundred Eighty One Only) with interest @14% per annum with yearly rests from 02.05.2023, till the date of payment is hereby allowed with costs. 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 defendant. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly.
9. Party is 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 party.
Pronounced in the open Court. (A S Narang) Dated: 29.08.2026 Presiding Officer DRT-1, Chandigarh

Punjab National Bank v. Gurnam Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Gurnam Singh

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

State Bank of India versus Muhammed Sameer

Punjab National Bank versus M S Bishaka International and Ors.

State Bank of India versus M/S Sidhi Vinayak Enterprises

M/S. Dhuria Verka Point versus Au Small Finance Bank Limited

Jammu and Kashmir Bank Limited versus M/S Anju Trading Co.

Punjab National Bank versus M/S Stag Industries