4.
Defendant mortgaged his immovable properties i.e. Land |
measuring 14K-5M situated at Village Ramgarh, Hadbast No. 53, Tehsil
Jagraon, District Ludhiana, Punjab, vide Mortgage Deed bearing Vasika |
| no. 4373 dated 15.01.2014, along with its translation, which are |
| Annexures A13 and A14to this OA. |
| **Documents executed: **Hypothecation Agreement, Undertaking, Letter |
of Consent, all dated 01.02.2014, which areAnnexures A4 to A6to
this OA; Balance and Security Confirmation Letters dated 31.05.2016, |
| 29.05.2019, 16.02.2022 and 10.01.2024, which areAnnexures A7 to |
| A10to this OA; Consent Clause, which isAnnexure A11to this OA; |
Letter of request to be obtained from KCC holders for covering them
under Personal Accident Insurance Scheme, which isAnnexure A12to |
| this OA; Legal Notice dated 16.08.2024, which isAnnexure A15to this |
| OA; Statement of Account with certificate, which isAnnexure A16to |
| this OA. |
5.
The loan account became irregular and was classified as NPA and |
after adjusting debit and credit entries in the loan account there was a
debit of Rs.40,98,338.00, which is recoverable and the defendant was
served recall notices but he did not repay the outstanding amount, |
| therefore, the applicant requested to accept the application and to issue |
| Recovery Certificate accordingly. |
6.
The defendant was served summons to appear before this |
| Tribunal but no one appeared on behalf of defendant and he was |
| proceeded ex-parte order dated 29.04.2026. |
7.
In support of the OA, affidavit ofSh. Naveen Kumar Bansal, |
| Branch Manager, Punjab National Bank,has been filed. |
8.
Heard ex-parte arguments and perused record. |
9.
It was argued by learned counsel for applicant that in view of the |
| documentary evidence brought on record which had gone unrebutted, |
the applicant had proved its case.
From the perusal of all theAnnexures A1 to A16to this OA, it |
| is proved that the defendant approached applicant for availing of the |
