Allowed

Punjab National Bank v. Mr Jagdish Singh (Deceased)

DRT17 Jun 2026OA/1954/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by Punjab National Bank for recovery of loan dues from the legal heirs of a deceased borrower. The court directed the issuance of a recovery certificate and the sale of mortgaged property.

What did the court decide?

Application for recovery of loan dues was allowed; Recovery Certificate issued; Sale of mortgaged land directed.

Punjab National Bank versus Mr Jagdish Singh (Deceased) — Execution and Attachment | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 1954/2023 Date of Institution: 28.11.2023 Date of Decision: 17.06.2026

¶4

Punjab National Bank having its branches all over India and a branch at Village Mari Buchian, Tehsil Batala, District Gurdaspur, Punjab.

¶5

……..Applicant

¶6

Vs.

¶7

Mr. Jagdish Singh (Deceased) s/o Sh. Balkar Singh Through his LRs’

¶8

(i) Mr. Jashandeep Singh s/o Late Sh. Jagdish Singh

¶9

(ii) Mr. Harmandeep Singh s/o Late Sh. Jagdish Singh Both above: r/o Village Bagha, Tehsil Batala, District Gurdaspur, Punjab.

¶10

……….Defendants

¶11

Advocates

¶12

Mr. Chirag Bhagat proxy counsel for Sh. M.N. Sharma, Counsel for the applicant bank.

¶13

Mr. Vinay Kumar, Deputy Manager along with Ms. Nisha Meena, Nodal Officer for the bank.

¶14

Defendants- ex parte vide order dated 17.06.2023 .

¶15

OA for the Recovery of ₹41,69,366.85p with interest @11.50% per annum with half-yearly rests from 28.11.2023.

¶16

ORDER

¶17

Punjab National Bank has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹41,69,366.85p with interest against Mr. Jagdish Singh since deceased through his legal heirs (defendants).

¶18

Bank’s case is that on 08.10.2015, it had granted a loan of ₹20.00 Lacs to deceased defendant (since deceased now survived through his legal heirs) in the form of K.C.C Limit for agricultural purpose. To secure the loan, Deceased Defendant (now deceased) had mortgaged his

¶19

¶20

land (fully detailed in para No.5.5 of the application). The loan was chargeable to interest @11.50% per annum with half-yearly rests. Defendants had duly acknowledged their liability towards the debt on 12.10.2021. On 31.10.2023, a sum of ₹41,69,366.85p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

¶21

On 15.12.2023, summonses were sent to the LRs/defendants by registered post, which were duly served. However, LRs/defendants did not put in appearance. Vide order dated 17.06.2026, they were proceeded ex parte .

¶22

In order to prove its case, the Bank has placed on record the affidavit of Sh. Vikas Mahajan, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-17.

¶23

I have perused the evidence on the record. Mr. Vinay Kumar, Deputy Manager is present along with the original documents which have been perused by me. The same have been returned to him after perusal. I am of the considered view that the Bank has proved its case that it had advanced the loan of ₹20.00 Lacs and on 31.10.2023 a sum of ₹41,69,366.85p was due.

¶24

Accordingly, the application of the bank for the recovery of ₹41,69,366.85p (Rupees Forty One Lacs Sixty Nine Thousand Three Hundred Sixty Six and Paise Eighty Five Only) with interest @11.50% per annum with half-yearly rests from 28.11.2023, till the date of payment is hereby allowed with costs. The liability of the legal heirs of Mr. Jagdish Singh would be limited to the extent of the property inherited by them from Mr. Jagdish Singh (now deceased). Bank can recover its dues by the sale of mortgaged land fully detailed in para No.5.5 of the application as well as from the movable and immovable

¶25

¶26

property(ies) inherited by the legal heirs from Mr. Jagdish Singh (now deceased).

¶27

Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 20.07.2026, 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.

¶28

Pronounced in the open Court. (A S Narang) Dated: 17.06.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Mr Jagdish Singh (Deceased)

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Mr Jagdish Singh (Deceased)

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

H S Agro Layer Farm And Ors. versus Indian Bank

Breakfast through its owner kishore Meshram and others versus Fullerton India Credit Company

Shri Rajesh Jankilal Bundiwal versus Repco Home Finance Limited

Jammu and Kashmir Bank Limited versus M/S Bunty General Store

State Bank of India versus Sri Jiban Kumar Ghosh

State Bank of India versus Sri Debnkar Dey And Ors.