Allowed

Bank of India v. Sh. Jaspal Singh

DRT7 Sept 2026OA/1938/2024

Case brief

AI extract

What is this about?

Applicant Bank through Drts-I, Chandigarh allowed ex parte. Debts Recovery Tribunal allowed the bank's application for recovery of ₹49,43,195 with interest against the mortgagor and legal heirs of the deceased guarantor, ordering sale of mortgaged land for dues recovery.

What did the court decide?

Recovery of ₹49,43,195 with interest; Recovery Certificate issued; Sale of mortgaged land ordered for recovery of dues.

Bank of India 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: 1938/2024 Date of Institution: 18.10.2024 Date of Decision: 07.09.2026

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Bank of India having its branches all over India and a branch at Mukerian, District Hoshiarpur, Punjab.

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……..Applicant

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Vs.

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Sh. Jaspal Singh s/o Sh. Karnail Singh, r/o Village Dalowal, Post Office Dagan, Tehsil Mukerian, District Hoshiarpur, Punjab.

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Sh. Surjit Singh s/o Sh. Buta Singh (Deceased) 2(a). Sh. Gian Kaur widow of Sh. Surjit Singh 2(b). Sh. Charanjit Singh s/o Sh. Surjit Singh 2(c). Sh. Inderjit Singh s/o Sh. Surjit Singh

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2(d). Ms. Harwinder Kaur d/o Sh. Surjit Singh

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All r/o H.No.2, Village Ghoolowal, Tehsil Mukerian, District Hoshiarpur, Punjab.

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……….Defendants

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Advocates

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Sh. R.V. Mehra (through VC), Counsel for the applicant bank. Defendants- ex parte vide order dated 23.07.2025 .

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OA for the Recovery of ₹49,43,195/- with interest @11.40% per annum with half-yearly rests from 18.10.2024.

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ORDER

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Bank of India has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹49,43,195/- with interest against Sh. Jaspal Singh and others (defendants).

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Bank’s case is that on 23.05.2015, it had granted a loan of ₹40.00 Lacs to defendant in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant No.1 had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to

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interest @11.40% per annum with half-yearly rests. Defendant No.2 (since deceased now survived through his legal heirs) stood as guarantor for the K.C.C. Limit of ₹40.00 Lacs vide Deed of Guarantee dated 23.05.2015, (Exhibit A-12). Defendants had duly acknowledged their liability towards the debt on 19.03.2018, 11.01.2021 and 16.08.2023. On 15.09.2024, a sum of ₹49,43,195/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 20.12.2024, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 23.07.2025, 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. Prabhat Kumar Suman, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-25.

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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 ₹40.00 Lacs and on 15.09.2024, a sum of ₹49,43,195/- was due. 6. Accordingly, the application of the bank for the recovery of ₹49,43,195/- (Rupees Forty Nine Lacs Forty Three Thousand One Hundred Ninety Five Only) with interest @11.40% per annum with halfyearly rests from 18.10.2024, till the date of payment is hereby allowed with costs. The liability of the legal heirs of defendant No.2 would be limited to clear the outstanding amount upto the extent of property(ies) inherited by them from Sh. Surjit Singh (now deceased), whereas defendant No.1 would be liable for the whole decretal amount. Bank can recover its dues by the sale of mortgaged land fully detailed in para

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No.3A of the application as well as from the personal/inherited movable and immovable property(ies) of the defendants accordingly. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 07.10.2026, 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: 07.09.2026 Presiding Officer DRT-1, Chandigarh

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MANOJ KALRA

Bank of India v. Sh. Jaspal Singh

Case brief

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Bank of India v. Sh. Jaspal Singh

Case brief

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