The Debts Recovery Tribunal allowed the bank's application for recovery of ₹29,60,844.83 with interest against defendants who failed to repay an SME loan, ruling the liability joint and several.
Recovery of ₹29,60,844.83 with interest @13.50% p.a. allowed; liability of all defendants held joint and several; Recovery Certificate issued.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 1800/2024 Date of Institution: 23.10.2024 Date of Decision: 27.08.2026
Punjab and Sind Bank having its branches all over India and a branch at Cinema Road, Batala, District Gurdaspur, Punjab.
……..Applicant
Vs.
……….Defendants
Advocates
Sh. A.B.S. Sidhu through V.C., Counsel for the applicant bank. Defendants- ex parte vide order dated 15.07.2025 .
OA for the Recovery of ₹29,60,844.83p with interest @13.50% per annum with monthly rests from 23.10.2024.
ORDER
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recovery of ₹29,60,844.83p with interest against M/s B.V. Enterprises and others (defendants).
| 3. On 04.12.2024, summonses were sent to the defendants by |
|---|
| registered post, which were duly served. However, defendants did not |
| put in appearance. Vide order dated 15.07.2025, they were proceeded_ex_ |
| parte. |
| 4. In order to prove its case, the Bank has placed on record the |
| affidavit of Sh. Supreet Singh Rana, Chief Manager along with the loan |
| and security documents and marked them as Exhibit A-1 to A-24. |
| 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 |
| ₹25.00 Lacs and on 30.09.2024, a sum of ₹29,60,844.83p was due. |
| 6. Accordingly, the application of the bank for the recovery of |
| ₹29,60,844.83p (Rupees Twenty Nine Lacs Sixty Thousand Eight |
| Hundred Forty Four and Paise Eighty Three Only) with interest |
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@13.50% per annum with monthly rests from 23.10.2024, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. Bank can recover its dues by the sale of mortgaged property(ies) fully detailed in para No.3A of the application as well as from the personal movable and immovable property(ies) of the defendants.
Pronounced in the open Court. (A S Narang) Dated: 27.08.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA
1 issue framed by the court
Whether the applicant bank is entitled to recovery of the outstanding debt amount along with interest under Section 19 of the RDB Act.
1 provisions across 1 enactments
Punjab and Sind Bank
M/s B.V. Enterprises
Bikramjit Singh
Vishal Aggarwal
Bikramjeet Singh
Rupinder Kaur
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
