The Appellate Tribunal allowed the applicant bank's application for recovery of ₹64,74,716/- plus interest under Section 19 of the RDB Act, directing sale of mortgaged land and other assets.
Recovery of ₹64,74,716/- with interest allowed; Recovery Certificate issued; Directed sale of mortgaged land.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 1694/2024 Date of Institution: 19.10.2024 Date of Decision: 24.04.2026
SBI having its branches all over India and a branch at Matiana, Tehsil Theog, Distt Shimla, Himachal Pradesh, and one of its specialized branch by the name of Stressed Assets Recovery Branch, 40 SDA, Commercial Complex, Zonal office Building, Kasumpti, Shimla, Distt Shimla, Himachal Pradesh.
……..Applicant Vs. Sh. Suresh Kumar s/o Lt Sh. Chet Ram, r/o Village Banaraghtti, Post office Kelvi, Tehsil Theog, Distt Shimla, Himachal Pradesh. ……….Defendant Advocates Sh. Anil Sharma, Counsel for the applicant bank. Defendant- ex parte vide order dated 02.05.2025 . OA for the Recovery of ₹64,74,716/- with interest from 19.10.2024.
ORDER 1. SBI has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹64,74,716/- with interest against Sh. Suresh Kumar (defendant). 2. Bank’s case is that on 16.06.2017, it had granted Home Loan of ₹32,94,630/- to defendant for Housing purpose. To secure the loan, Defendant had mortgaged his land (fully detailed in para No.3A of the application). Again on 07.02.2020, at the request of the defendants, bank granted a loan of ₹21.00 Lacs to the defendant in the form of K.C.C Limit for agricultural purpose. Both the loan facilities were chargeable at different rates of interest. Defendant had duly acknowledged his liability towards the debt on 07.02.2020 and 02.01.2023. On 05.10.2024, a sum
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of ₹64,74,716/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application. 3. On 20.11.2024, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 02.05.2025, he was proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Dogar Singh Salhan, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-11. 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 ₹53,94,630/- and on 05.10.2024, a sum of ₹64,74,716/- was due. 6. Accordingly, the application of the bank for the recovery of ₹64,74,716/- (Rupees Sixty Seven Lacs Seventy Four Thousand Seven Hundred Sixteen Only) i.e. ₹34,28,425/- with interest @8.55% p.a. with monthly rests in the Housing Loan; ₹30,46,291/- with interest @11.15% per annum with half-yearly rests in the K.C.C. Limit from 19.10.2024, 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 28.05.2026, 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 .
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1 issue framed by the court
Whether the applicant bank is entitled to recover the outstanding dues of ₹64,74,716/- along with interest from the defaulting borrower.
1 provisions across 1 enactments
State Bank of India
Sh. Suresh Kumar
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
