Allowed

Punjab National Bank v. Sh. Gurdev Singh (Deceased)

DRT17 Mar 2026OA/1485/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed Punjab National Bank's application for recovery of ₹24,36,425.95 with interest against the legal heirs of a deceased borrower and a defendant, holding them liable respectively for inherited property and personal assets, and directed the sale of mortgaged land.

What did the court decide?

Application for recovery of ₹24,36,425.95 with interest allowed; Recovery Certificate issued; Direction to sell mortgaged land.

Punjab National Bank versus Sh. Gurdev Singh (Deceased) — Insolvency and Bankruptcy | 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: 1485/2023 Date of Institution: 19.07.2023 Date of Decision: 17.03.2026

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Punjab National Bank having its branches all over India and a branch at Jandiala Manjki, Jalandhar and Circle SASTRA Centre, Civil Lines, Jalandhar, District Jalandhar, Punjab.

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……..Applicant

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Vs.

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Sh. Gurdev Singh (deceased) s/o Sh. Joginder Singh through his LRs: -

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1(a) Smt. Surinder Kaur widow of Sh. Gurdev Singh. 1(b) Sh. Daljit Singh son of Sh. Gurdev Singh.

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Sh. Daljit Singh son of Sh. Gurdev Singh, All residents of Village Thabalke Tehsil Nakodar District Jalandhar, Punjab.

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……….Defendants

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Advocates

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Sh. Lovish proxy counsel for Sh. Aseem Kataria, Counsel for the applicant bank.

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Defendants - ex parte vide order dated 26.09.2024 .

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OA for the Recovery of ₹24,36,425.95p with interest @11% per annum with half-yearly rests from 19.07.2023.

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ORDER

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Punjab National Bank has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹24,36,425.95p with interest against Sh. Gurdev Singh (deceased) and another (defendants).

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Bank’s case is that on 09.06.2009, it had granted a loan of ₹10.00Lacs to defendant No.1 i.e. Sh. Gurdev Singh (now deceased) in the form of K.C.C Limit for agricultural purpose. To secure the loan,

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Defendant No.1 had mortgaged his agricultural land (fully detailed in para No.3A of the application). Again on 15.02.2012, at the request of the defendants, bank enhanced the existing limit from ₹10.00 Lacs to ₹18.00 Lacs. To secure the loan, Defendant No.1 (now deceased) had mortgaged his agricultural land (fully detailed in para No.3A of the application). The loan was chargeable to interest @11% per annum with half-yearly rests. Defendants and Legal heirs had duly acknowledged their liability towards the debt on 18.02.2012, 13.02.2015, 14.12.2017, 20.03.2020, 02.03.2023. On 10.07.2023, a sum of ₹24,36,425.95p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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3. On 15.09.2023, summonses were sent to the defendants by
registered post, which were duly served. However, defendants did not
put in appearance. Vide order dated 26.09.2024, they were proceeded_ex_
parte.
4. In order to prove its case, the Bank has placed on record the
affidavit of Sh. Surender Kumar, Chief Manager along with the loan and
security documents and marked them as Exhibit A-1 to A-19.
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
₹18.00Lacs and on 10.07.2023, a sum of ₹24,36,425.95p was due.
6. Accordingly, the application of the bank for the recovery of
₹24,36,425.95p (Rupees Twenty Four Lacs Thirty Six Thousand Four
Hundred Twenty Five and Paise Ninety Five Only) with interest @11%
per annum with half-yearly rests from 19.07.2023, till the date of
payment is hereby allowed with costs. The liability of the legal heirs of
defendant No.1 would be limited upto the extent of the property inherited
by them from Sh. Gurdev Singh (now deceased), whereas defendant

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No.2 would be fully liable for the whole decretal amount. 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 No.2. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 24.04.2026, 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 parties.

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Pronounced in the open Court. (A S Narang) Dated: 17.03.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Sh. Gurdev Singh (Deceased)

Case brief

What is this about?

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Punjab National Bank v. Sh. Gurdev Singh (Deceased)

Case brief

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