Allowed

Punjab National Bank v. Nirmal Singh

DRT3 Feb 2026OA/2117/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application under Section 19 of the RDB Act to recover a loan debt of Rs. 26,86,221 along with interest. The defendants appeared ex parte. The court directed issuance of a Recovery Certificate and scheduled a sale of mortgaged land.

What did the court decide?

Recovery of Rs.26,86,221 with interest at 8.95% per annum allowed; payment from sale of mortgaged land or personal property; Recovery Certificate to be issued.

Punjab National Bank versus Nirmal Singh — Contract and Commercial Disputes | 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: 2117/2022

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Date of Institution: 04.11.2022 Date of Decision: 03.02.2026

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Punjab National Bank having its branches all over India and a branch at Talwandi Bharath, Punjab.

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……..Applicant

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Vs.

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Nirmal Singh s/o Sh. Natha Singh, r/o H.No.77, Village Kala Afgana Abadi, Ajampur, Tehsil Batala, District Gurdaspur, Punjab.

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Bajanbir Singh s/o Sh. Narinder Singh, r/o Patti Azampur Kala Afgana, Tehsil Batala, District Gurdaspur, Punjab.

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……….Defendants

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Advocates

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Sh. Bharat Kawal proxy counsel for Sh. K.B.S. Manhas, Counsel for the applicant bank.

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Defendants - ex parte vide order dated 09.08.2024 .

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OA for the Recovery of Rs.26,86,221/- with interest @8.95% per annum with yearly rests from 04.11.2022. ORDER

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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 Rs.26,86,221/- with interest against Sh. Nirmal Singh and another (defendants).

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Bank’s case is that on 24.11.2015, it had granted a loan of Rs.20.00 Lacs to defendants 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 interest @8.95% per annum with yearly rests. Defendants had duly acknowledged their liability towards the debt on 04.08.2018, 27.05.2021. On 08.09.2022, a sum of Rs.26,86,221/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 06.12.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 09.08.2024, 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. Avtar Chand, Senior Manager along with the loan and security documents and marked them as Exhibit A-1 to A-11. 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 Rs.20.00 Lacs and on 08.09.2022, a sum of Rs.26,86,221/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.26,86,221/- (Rupees Twenty Six Lacs Eighty Six Thousand Two Hundred Twenty One Only) with interest @8.95% per annum with yearly rests from 04.11.2022, till the date of payment is hereby allowed with costs. The liability of both the defendants would be joint and several. 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 defendants. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 11.03.2026, 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: 03.02.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Nirmal Singh

Case brief

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What did the court decide?

Punjab National Bank v. Nirmal Singh

Case brief

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