Allowed

Bank of India v. Sh. Lakhbir Singh

DRT11 Mar 2026OA/231/2022

Case brief

AI extract

What is this about?

The DRT-I, Chandigarh allowed the Bank of India's application under Section 19 of the RDB Act for the recovery of a debt of approximately ₹2.40 crore along with interest. The court accepted the bank's evidence of the loan and security, dismissed the absent defendants' defense, and directed the issuance of a Recovery Certificate.

What did the court decide?

Recovery of ₹2,40,31,157.96 with interest at 11.80% p.a. allowed from 11.01.2022 with costs. Recovery Certificate issued.

Bank of India versus Sh. Lakhbir Singh — Execution and Attachment | 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: 231/2022 Date of Institution: 11.01.2022 Date of Decision: 11.03.2026

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Bank of India having its branches all over India and a branch at Sutlej Market Branch, Empire Estate, 14, Police Lines Road, Jalandhar, Punjab.

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……..Applicant

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Vs.

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Sh. Lakhbir Singh s/o Sh. Ram Singh, r/o VPO Rasoolpur Kalan, Tehsil Nakodar, District Jalandhar, Punjab.

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Smt. Pritam Kaur w/o Sh. Ram Singh, r/o VPO Rasoolpur Kalan, Tehsil Nakodar, District Jalandhar, Punjab.

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Sh. Binder Singh s/o Sh. Lakhbir Singh, r/o VPO Rasoolpur Kalan, Tehsil Nakodar, District Jalandhar, Punjab.

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……….Defendants

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Advocates

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Sh. G.S. Anand, Counsel for the applicant bank. Defendants - ex parte vide order dated 03.07.2023 .

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OA for the Recovery of ₹2,40,31,157.96p with interest @11.80% per annum with half-yearly rests from 11.01.2022.

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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 ₹2,40,31,157.96p with interest against Sh. Lakhbir Singh and others (defendants).

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Bank’s case is that on 16.09.2010, it had granted a loan of ₹95.00Lacs to defendant No.1 in the form of K.C.C Limit for agricultural purpose. Again on 26.02.2015, at the request of the defendants, bank enhanced the existing limit from ₹95.00Lacs to ₹180.00Lacs. To secure the enhanced limit, Defendant No.1 had mortgaged his agricultural land (fully detailed in para No.3A of the application). Defendant Nos.2 and 3

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stood as guarantors vide deed of guarantee dated 26.02.2015, (Exhibit A- 24). The loan was chargeable to interest @11.80% per annum with halfyearly rests. Defendants had duly acknowledged their liability towards the debt on 02.08.2013, 26.02.2015, 16.05.2016 and 15.04.2019. On 11.01.2022, a sum of ₹2,40,31,157.96p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 18.04.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 03.07.2023, 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. Anil Kumar Gera, Principal Officer along with the loan and security documents and marked them as Exhibit A-1 to A-32.

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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 ₹180.00 Lacs and on 11.01.2022, a sum of ₹2,40,31,157.96p was due.

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Accordingly, the application of the bank for the recovery of ₹2,40,31,157.96p (Rupees Two Crores Forty Lacs Thirty One Thousand One Hundred Fifty Seven and Paise Ninety Six Only) with interest @11.80% per annum with half-yearly rests from 11.01.2022, till the date of payment is hereby allowed with costs. The liability of all 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.

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Pending IAs, if any, stand disposed of.

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Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 20.04.2026, 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: 11.03.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Bank of India v. Sh. Lakhbir Singh

Case brief

What is this about?

What did the court decide?

Bank of India v. Sh. Lakhbir Singh

Case brief

What is this about?

What did the court decide?

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