Allowed

Punjab National Bank v. Amarjit Singh

DRT19 May 2026OA/1950/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of ₹20,45,588/- with interest against the defendant. The court found the loan advanced and dues established on record, ordered a Recovery Certificate to be issued, and directed the defendant to appear for distribution of sale proceeds.

What did the court decide?

Recovery of ₹20,45,588/- with interest allowed; Recovery Certificate issued; Defendant directed to appear.

Punjab National Bank versus Amarjit 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: 1950 of 2023 Date of Institution: 27.11.2023 Date of Decision: 19.05.2026

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Punjab National Bank having its branches all over India and a branch at Dhianpur, Tehsil & District Gurdaspur, Punjab.

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……..Applicant Vs.

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Amarjit Singh s/o Gurpal Singh r/o VPO Dharamkot Randhawa, Tehsil & District Gurdaspur.

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……….Defendant

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Advocates

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Sh. Ankit Kaushal, Counsel for the applicant bank. Defendant - ex parte .

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OA for the Recovery of ₹20,45,588/- with interest @11.60% per annum with yearly rests from 27.11.2023.

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ORDER

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Punjab National Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹20,45,588/- with interest against Sh. Amarjit Singh (defendant).

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Bank’s case is that on 22.01.2016, it had granted a loan of ₹10.00Lacs to the defendant in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to interest @11.60% per annum with yearly rests. On 22.01.2023, a sum of ₹20,45,588/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 15.12.2023, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 26.09.2024, he proceeded was ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Rohit Kumar, Authorised Officer along with the loan and security documents and marked them as Exhibit A-1 to A-6. 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 ₹10.00Lacs and on 22.01.2023, a sum of ₹20,45,588/- was due. 6. Accordingly, the application of the bank for the recovery of ₹20,45,588/- (Rupees Twenty Lacs Forty Five Thousand Five Hundred Eighty Eight Only) with interest @11.60% per annum with yearly rests from 27.11.2023, 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 23.06.2026, who is directed to distribute the sale proceeds of the mortgaged property(ies) 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 party.

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Pronounced in the open Court. (A S Narang) Dated: 19.05.2026 Presiding Officer DRT-1, Chandigarh (Law Researcher)

Punjab National Bank v. Amarjit Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Amarjit Singh

Case brief

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What did the court decide?

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