Allowed

Punjab and Sind Bank v. M/S Grande Beauty Design Unisex Salon and Academy

DRT29 Aug 2026OA/1547/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's application under Section 19 of the RDB Act for recovery of Rs.39.59L with interest against the salon proprietor and guarantor, finding evidence proved and issuing a recovery certificate.

What did the court decide?

Recovery of Rs.39,59,361.98 with interest allowed; Recovery Certificate to be issued; parties directed to appear before Recovery Officer.

Punjab and Sind Bank versus M/S Grande Beauty Design Unisex… — Company and Corporate | 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: 1547 of 2024 Date of Institution: 30.04.2024 Date of Decision: 29.08.2026

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Punjab & Sind Bank having its branches all over India and a branch at Urban Estate, Phase – I, Jalandhar, Punjab.

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……..Applicant

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Vs.

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M/s Grande Beauty Design Unisex Salon & Academy, SCO 32, 2^nd Floor, Chotti Baradari, Jalandhar, Punjab through its proprietor Geeta Devi.

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2^nd Address: r/o 127/128, Village Dhilwan, New Ganesh Nagar, Taran Enclave, Near Water Tank, Tehsil and District Jalandhar, Punjab.

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Rajesh Kumar s/o Bagga Singh r/o 127/128, Village Dhilwan, New Ganesh Nagar, Taran Enclave, Near Water Tank, Tehsil and District Jalandhar, Punjab.

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……….Defendants

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Advocates

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Sh. Ajay Singla, Counsel for the applicant bank along with Ms. Pooja, Officer of the Applicant Bank.

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Defendants - ex parte .

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OA for the Recovery of Rs.39,59,361.98p with interest @12.20% per annum with monthly rests from 30.04.2024.

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ORDER

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Punjab & Sind Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.39,59,361.98p with interest against M/s Grande Beauty Design Unisex Salon & Academy and another (defendants).

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Bank’s case is that on 15.03.2022, it had granted Term loan of Rs.19.50Lacs and on 17.03.2022, it had granted a C.C. Limit of Rs.20.00Lacs to defendant no.1 through its proprietor Ms. Geeta Devi

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for business purpose. To secure the loan, the proprietor Ms. Geeta Devi mortgaged her property (fully detailed in para No.5.7 of the application). Defendant no.2 stood as the guarantor vide deed of guarantee dated 15.03.2022. The loan was chargeable to interest @12.20% per annum with monthly rests. On 16.04.2024, a sum of Rs.39,59,361.98p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 28.10.2024, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 19.11.2025, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Ms. Sakshi Wazir, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-27.

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I have perused the evidence on the record. Ms. Pooja, is present along with the original documents which have been perused by me. The same have been returned after perusal. I am of the considered view that the Bank has proved its case that it had advanced loan under different schemes and on 16.04.2024, a sum of Rs.39,59,361.98p (Rs.17,78,085/in Term Loan and Rs.21,81,276.98p in the Cash Credit Limit) was due. 6. Accordingly, the application of the bank for the recovery of Rs.39,59,361.98p (Rupees Thirty Nine Lacs Fifty Nine Thousand Three Hundred Sixty One and Ninety Eight Paise Only) with interest @12.20% per annum with monthly rests from 30.04.2024, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several for the amount due in the Term Loan. Defendant no.1 would be fully liable for the amount due in the C.C. Limit. Bank can recover its dues by the sale of mortgaged property and hypothecated

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asset perso	s n	fully detailed in para No.5.7) of the applicat al movable and immovable property(ies) of	ion as well as from the the defendants.
7.		Pending IAs, if any, stand disposed of.
8.		Recovery Certificate be issued accordingly.
9.		Parties are directed to appear before	Recovery Officer on
30.09	.	2026.
10.		A Copy of this order along with Recovery	Certificate be sent to
the R	e	covery Officer as well as the parties.
Pron Dated	o :	unced in the open Court. 29.08.2026	(A S Narang) Presiding Officer DRT-1, Chandigarh

Punjab and Sind Bank v. M/S Grande Beauty Design Unisex Salon and Academy

Case brief

What is this about?

What did the court decide?

Punjab and Sind Bank v. M/S Grande Beauty Design Unisex Salon and Academy

Case brief

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What did the court decide?

What the court decided

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