Allowed

Punjab National Bank v. Sh. Gurmeet Singh

DRT25 Aug 2026OA/1700/2024

Case brief

AI extract

What is this about?

The DRT-I, Chandigarh allowed an application by Punjab National Bank filed under Section 19 of the RDB Act for recovery of Rs.36,70,438.09p with interest against a defaulting borrower, based on verified affidavit evidence of the loan and security.

What did the court decide?

Application allowed; recovery of Rs.36,70,438.09p with interest @12% p.a. allowed; Recovery Certificate issued; parties directed to appear before Recovery Officer; pending IAs disposed of.

Punjab National Bank versus Sh. Gurmeet 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: 1700/2024

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Date of Institution: 08.04.2024 Date of Decision: 25.08.2026

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Punjab National Bank, B/u Talwandi Rama, Distt. Gurdaspur.

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…Applicant

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Vs.

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Sh. Gurmeet Singh, S/o Sh. Inder Singh, R/o Village Nikko Sarai, PO Talwandi Rama, Tehsil Dera Baba Nanak, Distt. Gurdaspur.

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…Defendant

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Advocates

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Sh. H.S. Bhatia, Counsel for the Applicant Bank. Defendant – ex parte .

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OA for the Recovery of Rs.36,70,438.09p with interest @12% per annum with half-yearly rests from 08.04.2024.

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ORDER

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On 08.04.2024, Punjab National Bank filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.36,70,438.09p with interest against Sh. Gurmeet Singh (defendant).

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Bank’s case is that on 22.07.2013, it had granted a KCC Limit of Rs. 20.00 lacs to the defendant for agricultural purpose. To secure the limit, defendant had hypothecated assets (fully detailed in Exhibit A/4) and mortgaged his agricultural land (fully detailed in para No.5.5 of the application). The limit was chargeable to interest @12% per annum with half-yearly rests. The defendant had acknowledged his liability towards the debt on 25.05.2016, 20.05.2019 and 05.04.2022. On 18.03.2024, a sum of Rs.36,70,438.09p was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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3. On 07.11.2024, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance.
Vide order dated 15.05.2025, he was proceeded_ex parte_.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Sudhir Bhatia, Branch Manager, along with the loan and security documents.
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 a KCC Limit of Rs. 20.00 lacs and on 18.03.2024, a sum of Rs.36,70,438.09p was due.
6. Accordingly, the application of the Bank for the recovery of
Rs.36,70,438.09p (Rupees Thirty-Six Lacs Seventy Thousand Four
Hundred Thirty-Eight and Paise Nine Only) with interest @12% per annum with half-yearly rests from 08.04.2024, till the date of payment is hereby allowed with costs. Bank can recover its dues by the sale of hypothecated assets (fully detailed in Exhibit A/4) and mortgaged agricultural land (fully
detailed in para No.5.5 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. Parties are directed to appear before Recovery Officer on
28.09.2026.
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: 25.08.2026 Presiding Officer DRT-1, Chandigarh HARSH

Punjab National Bank v. Sh. Gurmeet Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Sh. Gurmeet Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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