Allowed

Canara Bank v. Sh. Kulbir Singh

DRT19 Mar 2026OA/26/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the applicant bank's application for recovery of ₹46,58,000 with interest against defendants who failed to repay an agricultural loan secured by mortgaged land after appearing ex parte.

What did the court decide?

The bank was allowed to recover ₹46,58,000 with interest; a Recovery Certificate was issued; parties directed to appear before Recovery Officer for distribution of proceeds.

Canara Bank versus Sh. Kulbir 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: 26/2023 Date of Institution: 25.11.2022 Date of Decision: 19.03.2026

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Canara Bank having its branches all over India and a branch at Majitha, Tehsil and District Amritsar, Punjab. ……..Applicant Vs.

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Sh. Kulbir Singh s/o Sh. Kirpal Singh, 2. Sh. Kirpal Singh s/o Sh. Pritam Singh, Both r/o: Village Rakh Bhangwan, Tehsil Majitha, District Amritsar, Punjab. ……….Defendants Advocates Ms. Navdeep kaur, Counsel for the applicant bank. Defendants - ex parte vide order dated 26.04.2024 .

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OA for the Recovery of ₹46,58,000/- with interest @10.15% per annum with half-yearly rests from 25.11.2022.

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ORDER

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Canara Bank has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹46,58,000/- with interest against Sh. Kulbir Singh and another (defendants).

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Bank’s case is that on 29.09.2017, it had granted a loan of ₹30.00Lacs to defendants in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendants had mortgaged their land (fully detailed in para No.3A of the application). The loan was chargeable to interest @10.15% per annum with half-yearly rests. Defendants had duly acknowledged their liability towards the debt on 30.01.2019 and 10.01.2022. On 15.11.2022, a sum of ₹46,58,000/- was due from the

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defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3. On 12.01.2023, summonses were sent to the defendants by
registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 26.04.2024, they were proceeded_ex_ parte.
4. In order to prove its case, the Bank has placed on record the
affidavit of Sh. Ankush Bhagat, Manager along with the loan and
security documents and marked them as Exhibit A-1 to A-10.
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
₹30.00 Lacs and on 15.11.2022, a sum of ₹46,58,000/- was due.
6. Accordingly, the application of the bank for the recovery of
₹46,58,000/- (Rupees Forty Six Lacs Fifty Eight Thousand Only) with interest @10.15% per annum with half-yearly rests from 25.11.2022, 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
28.04.2026,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.

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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: 19.03.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Canara Bank v. Sh. Kulbir Singh

Case brief

What is this about?

What did the court decide?

Canara Bank v. Sh. Kulbir Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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