Allowed

Punjab National Bank v. Sh. Jaspal Singh

DRT29 Apr 2026OA/1575/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by Punjab National Bank for recovery of ₹31,55,414/- along with interest against several respondents who failed to repay an agricultural loan secured by a mortgage. The court passed a recovery certificate and directed the sale of mortgaged properties.

What did the court decide?

Application allowed; Recovery Certificate issued; parties directed to appear for distribution of sale proceeds of mortgaged land and crops.

Punjab National Bank versus Sh. Jaspal Singh — 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: 1575/2023 Date of Institution: 29.08.2023 Date of Decision: 29.04.2026

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Punjab National Bank having its branches all over India and a branch at Village Dhianpur, District Gurdaspur, Punjab

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……..Applicant

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Vs.

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Sh. Jaspal Singh s/o Late Sh. Pritam Singh, r/o Village Mehta, Tehsil Dera Baba Nanak, District Gurdaspur, Punjab.

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Mrs. Gurdeep Kaur @Dalip Kaur (Deceased) w/o Late Sh. Pritam Singh, Through LRs:

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(i) Mr. Jaspal Singh S/O Late Sh. Pritam Singh

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(ii) (ii) Mr. Balwinder Singh S/O Late Sh. Pritam Singh

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Both r/o: Village Mehta, Tehsil Dera Baba Nanak, District Gurdaspur, Punjab.

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Sh. Jobanjit Singh s/o Sh. Jaspal Singh, r/o Village Mehta, Tehsil Dera Baba Nanak, District Gurdaspur, Punjab.

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……….Defendants

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Advocates

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Ms. Ritika Kansal proxy counsel for Sh. M.N. Sharma, Counsel for the applicant bank.

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Defendants - ex parte vide order dated 09.10.2024 .

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OA for the Recovery of ₹31,55,414/- with interest @9.85% per annum with half-yearly rests from 29.08.2023.

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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 ₹31,55,414/- with interest against Sh. Jaspal Singh and others (defendants).

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Bank’s case is that on 29.06.2016, it had granted a loan of ₹17.00 Lacs to the defendants in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant No.1 had mortgaged his land

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(fully detailed in para No.3A of the application). The loan was chargeable to interest @9.85% per annum with half-yearly rests. Defendants had duly acknowledged their liability towards the debt on 01.05.2019 and 29.04.2022. On 29.06.2023, a sum of ₹31,55,414/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 29.09.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 09.10.2024, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Sh. Rohit Kumar, Senior Manager 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 ₹17.00 Lacs and on 29.06.2023, a sum of ₹31,55,414/- was due.

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Accordingly, the application of the bank for the recovery of ₹31,55,414/- (Rupees Thirty One Lacs Fifty Five Thousand Four Hundred Fourteen Only) with interest @9.85% per annum with halfyearly rests from 29.08.2023, till the date of payment is hereby allowed with costs. The liability of legal heirs of defendant No.2 would be limited to the extent of the property inherited by them from Smt. Gurdeep Kaur @Dalip Kaur (now deceased) whereas the liability of defendant Nos.1 and 3 would be joint and several. 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 Nos.1 and 3.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 03.06.2026, 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. Pronounced in the open Court. (A S Narang) Dated: 29.04.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Sh. Jaspal Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Sh. Jaspal Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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