Allowed

State Bank of India v. Sh. Ram Chand

DRT23 Apr 2026OA/1476/2024

Case brief

AI extract

What is this about?

In this recovery proceeding under the RDB Act, the Debts Recovery Tribunal allowed SBI's application for ₹23.86 lakhs with interest. The Tribunal directed issuance of a Recovery Certificate. It ordered the sale of mortgaged land and distribution of proceeds.

What did the court decide?

Allowed recovery of ₹23,86,240 with interest; directed issuance of Recovery Certificate; ordered sale of mortgaged land.

State Bank of India versus Sh. Ram Chand — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 1476/2024 Date of Institution: 26.08.2024 Date of Decision: 23.04.2026

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SBI having its branches all over India and a branch at Mandi Ladhuka, District Fazilka, Punjab.

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……..Applicant

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Vs.

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Sh. Ram Chand s/o Sh. Goma Ram, r/o VPO Ladhuka Tehsil and District Fazilka, Punjab.

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……….Defendant

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Advocates

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Ms. Seerat Sharma proxy counsel for Sh. Pankaj Beri, Counsel for the applicant bank.

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Defendant- ex parte vide order dated 10.07.2025 .

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OA for the Recovery of ₹23,86,240/- with interest @11.80% per annum with half-yearly rests from 26.08.2024.

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ORDER

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SBI has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹23,86,240/- with interest against Sh. Ram Chand (defendant).

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Bank’s case is that on 19.03.2015, it had granted a loan of ₹15.00 Lacs to defendant i.e. Sh. Ram Chand in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant i.e. Sh. Ram Chand had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to interest @11.80% per annum with halfyearly rests. On 17.08.2024, a sum of ₹23,86,240/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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3. On 16.10.2024, summons was sent to the defendant by registered
post, which was duly served. However, defendant did not put in
appearance. Vide order dated 10.07.2025, he was proceeded_ex parte_.
4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Shubham Nagpal, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-7.
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
₹15.00 Lacs and on 17.08.2024, a sum of ₹23,86,240/- was due.
6. Accordingly, the application of the bank for the recovery of
₹23,86,240/- (Rupees Twenty Three Lacs Eighty Six Thousand Two
Hundred Forty Only) with interest @11.80% per annum with half-yearly rests from 26.08.2024, 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
27.05.2026,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.
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: 23.04.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

State Bank of India v. Sh. Ram Chand

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sh. Ram Chand

Case brief

What is this about?

What did the court decide?

What the court decided

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