Allowed

Punjab National Bank v. Ajmer Pal Singh

DRT12 Feb 2026OA/1660/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of approximately ₹31.49 lakhs along with interest. The court affirmed the bank’s proof of loan advancement and due amount, ordered a Recovery Certificate, and directed the sale of mortgaged land for distribution of proceeds.

What did the court decide?

Recovery of ₹31,49,512.91 with interest allowed; Recovery Certificate issued; direction to distribute sale proceeds of mortgaged land.

Punjab National Bank versus Ajmer Pal 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: 1660/2023 Date of Institution: 14.08.2023 Date of Decision: 12.02.2026

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Punjab National Bank having its branches all over India and a branch at Circle Sastra Centre, Pathankot, Punjab.

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……..Applicant Vs.

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Ajmer Pal Singh s/o Sh. Suba Singh, r/o #1, Village Sangar, Tehsil & District, Gurdaspur, Punjab

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……….Defendant

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Advocates

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Sh. Anirudh Gupta, Counsel for the applicant bank. Defendant- ex parte vide order dated 21.10.2024 .

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OA for the Recovery of ₹31,49,512.91p with interest @10% p.a. with half-yearly rests from 14.08.2023.

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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 ₹31,49,512.91p with interest against Sh. Ajmer Pal Singh (defendant).

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Bank’s case is that on 19.02.2013, it had granted a loan of ₹20.00 Lacs to defendant in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant had mortgaged his land (fully detailed in para No.3A of the application). Again on 20.09.2017, at the request of the defendant, bank granted a Term Loan of ₹1.00Lacs to defendant for agricultural purpose. Both the loan facilities were chargeable at different rates of interest. Defendant had duly acknowledged his liability towards the debt on 20.07.2015, 04.04.2018, 19.09.2020. On 31.03.2023, a sum of ₹31,49,512.91p was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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3. On 10.10.2023, summons was sent to the defendant by registered
post, which was duly served. However, defendant did not put in
appearance. Vide order dated 21.10.2024, he was proceeded_ex parte_.
4. In order to prove its case, the Bank has placed on record the
affidavit of Sh. Amninder Singh, Manager along with the loan and
security documents and marked them as Exhibit A-1 to A-15. 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 total loan of ₹21.00 Lacs (₹20.00 Lacs in K.C.C. Limit and ₹1.00 Lacs in Term
Loan) and on 31.03.2023, a sum of ₹31,49,512.91p was due.
6. Accordingly, the application of the bank for the recovery of
₹31,49,512.91p (Rupees Thirty One Lacs Forty Nine Thousand Five
Hundred Twelve and Paise Ninety One Only) with interest @10% p.a. with half-yearly rests from 14.08.2023, 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.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Party is directed to appear before Recovery Officer on
23.03.2026,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 party.
Pronounced in the open Court. (A S Narang) Dated: 12.02.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Ajmer Pal Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Ajmer Pal Singh

Case brief

What is this about?

What did the court decide?

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