Allowed

Punjab National Bank v. Mr. Satinder Singh

DRT16 Apr 2026OA/1552/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application under Section 19 of the RDB Act for recovery of dues amounting to ₹24,75,925.34 plus interest. The tribunal found the bank proved its case and directed the sale of mortgaged properties to recover the debt.

What did the court decide?

Application allowed; recovery of ₹24,75,925.34 with interest directed from mortgaged land and other properties.

Punjab National Bank versus Mr. Satinder Singh — Execution and Attachment | 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: 1552 of 2023 Date of Institution: 24.08.2023 Date of Decision: 16.04.2026

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Punjab National Bank having its branches all over India and a branch at Shahpur, District Jalandhar, Punjab.

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……..Applicant Vs.

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Mr. Satinder Singh s/o Khushbash Singh, Village Jagral Tehsil & district Jalandhar, Punjab.

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……….Defendant

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Advocates

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Sh. Rehaan Chaudhary proxy counsel for Sh. Krishan Kumar, Counsel for the applicant bank. Defendant - ex parte .

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OA for the Recovery of ₹24,75,925.34p with interest @10.90% per annum with half-yearly rests from 24.08.2023.

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ORDER

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Punjab National Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹24,75,925.34p with interest against Sh. Satinder Singh (defendant).

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Bank’s case is that on 08.04.2016, it had granted a loan of ₹15.00Lacs to the defendant in the form of K.C.C Limit for agricultural purpose. On 27.04.2018, the limit was enhanced from ₹15.00Lacs to ₹20.00Lacs. To secure the loan, Defendant had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to interest @10.90% per annum with half-yearly rests. The defendant had

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acknowledged the liability towards the debt on 08.03.2021. On 20.04.2023, a sum of ₹24,75,925.34p was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 26.09.2023, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 19.02.2025, he proceeded was ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Surender Kumar, Authorised Officer along with the loan and security documents and marked them as Exhibit A-1 to A-12. 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 ₹20.00Lacs and on 20.04.2024, a sum of ₹24,75,925.34p was due. 6. Accordingly, the application of the bank for the recovery of ₹24,75,925.34p (Rupees Twenty Four Lacs Seventy Five Thousand Nine Hundred and Twenty Five and Thirty Four Paise Only) with interest @10.90% per annum with half-yearly rests from 24.08.2023, 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.

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7.	Pending IAs, if any, sta	nd disposed of.
8.	Recovery Certificate be	issued accordingly.
9.	Party is directed to	appear before Recovery Officer on
19.05	.2026,who is directed	to distribute the sale proceeds of the
mort	gaged property(ies) and	standing crops as per the provisions of
Secti	on 19(20-AB) of the Act.

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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: 16.04.2026 Presiding Officer DRT-1, Chandigarh

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(Law Researcher)

Punjab National Bank v. Mr. Satinder Singh

Case brief

What is this about?

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Punjab National Bank v. Mr. Satinder Singh

Case brief

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