Debts Recovery Tribunal allowed the bank's original application for recovery of Rs.27,69,316 from the defendant borrower. The order debt recovery and assigned simple interest at 8% p.a. and directed recovery from mortgaged properties.
Declaration of liability to pay Rs.27,69,316.00 with costs and simple interest at 8% p.a.; direction to issue Recovery Certificate.
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.
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.1529/2025
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 29.10.2025
DATE OF DECISION: 08.06.2026
Indian Bank, a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, having its Head Office at 254-260, Avvai Shanmugam Salai, Royapettah, Chennai, having its Zonal Office at Jalandhar and amongst other places a branch at Sultanpur Lodhi District Kapurthala, Punjab through its Authorized Officer, Sh. Gurjit Singh, Manager, Indian Bank, Sultanpur Lodhi, Kapurthala, Punjab.
........ Applicant
Versus
Sh. Salwinder Singh S/o Sh. Sohan Singh, R/o H. No. 30, VPO Kutbewal, Tehsil Sultanpur Lodhi, District Kapurthala, Punjab – 144626.
........Defendant
Advocates:
Argued Ms. Ashmita Goel, Advocate proxy for Ms. Manjari Joshi, Advocate for the applicant
None for defendant (Already ex-parte vide order dated 05.06.2026).
FINAL ORDER
2 OA NO.1529/2025 INDIAN BANK VS SH. SALWINDER SINGH
3 OA NO.1529/2025 INDIAN BANK VS SH. SALWINDER SINGH
From the perusal of all the Annexures A1 to A12 to this OA, it is proved that the defendant approached applicant for availing of the loan facility which was granted to him and 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, loan account was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.27,69,316.00 (Rupees Twenty Seven Lacs Sixty Nine Thousand Three Hundred and Sixteen Only), along with interest from the defendant, from the date of filing of the present Original Application till realization of the amount. 10. In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @13.85%p.a. with yearly rests till the realization.
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 properties, 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 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.
4 OA NO.1529/2025 INDIAN BANK VS SH. SALWINDER SINGH
12. Any other application pending stands disposed of.
Pronounced by me in the open Tribunal .
Dated: 08.06.2026
(MRIDULESH KUMAR SINGH)
Presiding Officer, DRT-III, Chandigarh
2 issues framed by the court
Whether the applicant bank is entitled to recover the dues from the respondent borrower.
Whether an executing court can modify the rate of interest claimed in an original application.
1 provisions across 1 enactments
Indian Bank
Sh. Salwinder Singh
MRIDULESH KUMAR SINGH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
