Allowed

Punjab Gramin Bank v. Sh. Balwinder Singh

DRT18 Feb 2026OA/1327/2025

Case brief

AI extract

What is this about?

The Tribunal allowed the Original Application filed by Punjab Gramin Bank for recovery of outstanding dues of Rs.25,32,897.00. The Defendant failed to appear. The Tribunal reduced the claimed interest rate to 8% p.a. and ordered recovery from hypothecated assets.

What did the court decide?

Declaration of liability to pay Rs.25,32,897.00 with costs and simple interest at 8% p.a.; entitlement to recover amount from sale of hypothecated/mortgaged assets.

Punjab Gramin Bank versus Sh. Balwinder Singh — Banking and Recovery | DRT (2026)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.1327/2025

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 16.08.2025

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DATE OF DECISION: 18.02.2026

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Punjab Gramin Bank, a body corporate constituted under the Regional Rural Bank Act 1976, Act No 21 of 1976 having its Head Office at Markfed Road Kapurthala (Pb) and having its branches at different places including one at Mansoorwal Dona, District Kapurthala (Pb) through its Constituted Attorney/Manager Sh. Yuvraj Singh

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……..Applicant Versus

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Sh. Balwinder Singh S/o Sh. Jagir Singh, Village Jhugian Bandu, PO Paramjit, District Kapurthala, Punjab

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….……Defendant

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Advocates:

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Argued by Sh. Tejinder Singh, Advocate proxy for Sh. Bhushan Bhatia, Advocate for applicant

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Defendant already ex parte vide order dated 10.11.2025

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FINAL ORDER

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Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993, against the defendant for recovery of Rs.25,32,897.00 (Rupees Twenty Five Lacs Thirty Two Thousand Eight Hundred Ninety Seven Only). The Original Application has been filed through Sh. Yuvraj Singh, Manager, of the applicant, who is competent to institute the Original Application vide power of attorney dated 09.01.2017, which is Annexure A1 to this OA.

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The brief facts of the OA that the defendant approached the applicant for the grant KCC Limit of Rs.14,64,100 vide loan application dated 13.08.2013, which is Annexure A2 to this OA.

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2 OA/1327/2025 PUNJAB GRAMIN BANK VS. BALWINDER SINGH

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The applicant sanctioned the KCC Limit of Rs.14,64,100 vide sanction dated 13.08.2013, which is Annexure A3 to this OA and the terms and conditions were duly accepted by the defendant. 4. Defendant mortgaged his movable property i.e. land 14Kanal-16 Marla in Village Jhugian Bandu, Tehsil Sultanpur Lodhi, District Kapurthala, Punjab vide Mortgage deed bearing vasika no. 938 dated 14.08.2013 along with translation, which is Annexure A5 to this OA. Documents executed: Hypothecation Agreement dated 16.08.2013 which is Annexure A4 to this OA; Notice dated 24.09.2024 which is Annexure A6 to this OA; BC Letter dated 10.12.2015, 15.03.2018, 20.12.2019, 28.06.2022, 05.05.2023 which are Annexures A7, A7/1, A7/2, A7/3 and A7/4 to this OA; Statement of Account, with certificate by the officer in charge of computer system which is Annexure A8 to this OA. 5. The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in loan account there was a debit of Rs.25,32,897.00 which is recoverable and the defendant was served recall notice but he did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly. 6. The defendant was served notice to appear before this Tribunal but no one appeared on behalf of defendant and he was proceeded exparte vide order dated 10.11.2025. 7. In support of the OA, affidavit of Sh. Sh. Yuvraj Singh, Manager, Punjab Gramin bank, h as been filed. 8. Heard ex-parte arguments and perused record. 9. It was argued by learned proxy counsel that in view of the documentary evidence brought on record which had gone unrebutted, the applicant had proved its case. From the perusal of all the Annexures A1 to A8 to this OA, it is proved that the defendant approached applicant for availing of the loan facility which was granted to him and

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3 OA/1327/2025 PUNJAB GRAMIN BANK VS. BALWINDER SINGH

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for that he had executed all the 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.25,32,897.00 (Rupees Twenty Five Lacs Thirty Two Thousand Eight Hundred Ninety Seven Only) along with interest from the defendant, from the date of filing of the present Original Application till realization of the account.

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In so far as pendent elite and future rate of interest is concerned, the applicant in relief clause has claimed [email protected]%p.a. with half yearly rests from 11.08.2025 till the realization.

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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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In the result, the application is allowed declaring that the defendant is liable to pay to the applicant a total sum of Rs. Rs.25,32,897.00 (Rupees Twenty Five Lacs Thirty Two Thousand Eight Hundred Ninety Seven Only) with costs, current and future simple interest @08.00%p.a. in the loan account from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of hypothecated assets/mortgaged properties of the defendant in execution proceedings

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	OA/1327/2025 PUNJAB GRAMIN BANK VS. BALWINDER SINGH
if not	sold earlier under the provisions of the SARFAESI Act, 2002. If the
dues	of the applicant still remain unsatisfied, it shall be entitled to
recov	er the same by attachment and sale of personal assets of the
defen	dant. The applicant is at liberty to enforce the claim through due
proce	ss of law.
12.	Any other application pending stands disposed of.
13.	Issue Recovery Certificate accordingly.
14. on 06	Parties to appear before Learned Recovery Officer of this Tribunal .03.2026.
15.	Copy of this order be given Dasti to the applicant and be sent to
defen	dant through registered/speed post and this order be also
uploa Pron Date	ded on the official website of this Tribunal and record be consigned. ounced by me in the open Tribunal. d: 18.02.2026
	(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Punjab Gramin Bank v. Sh. Balwinder Singh

Case brief

What is this about?

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Punjab Gramin Bank v. Sh. Balwinder Singh

Case brief

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