The Debts Recovery Tribunal allowed an application by Canara Bank for recovery of Rs. 34,67,000 with interest against two defendants, authorizing recovery through the sale of mortgaged land and other properties of the defendants.
Recovery of Rs. 34,67,000 with interest; issuance of Recovery Certificate; sale of mortgaged land and standing crops.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 27/2023 Date of Institution: 25.11.2022 Date of Decision: 05.03.2026
Canara Bank having its branches all over India and a branch at Amritsar Road, Sri Hargobindpur, Sub-Tehsil Sri Hargobindpur, District Gurdaspur, Punjab.
……..Applicant
Vs.
……….Defendants
Advocates
Sh. Satish Jaswal proxy counsel for Sh. Navdeep Singh, Counsel for the applicant bank.
Defendants - ex parte vide order dated 19.08.2025 .
OA for the Recovery of ₹34,67,000/- with interest @9.65% per annum with half-yearly rests from 25.11.2022.
ORDER
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with half-yearly rests. Defendants had duly acknowledged their liability towards the debt on 01.05.2020 and 21.09.2020. On 30.09.2022, a sum of ₹34,67,000/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
| 7. | Pending IAs, if any, stand disposed of. |
|---|---|
| 8. | Recovery Certificate be issued accordingly. |
| 9. | Parties are directed to appear before Recovery Officer on |
| 13.0 | **4.2026,**who is directed to distribute the sale proceeds of the |
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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: 05.03.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA
1 issue framed by the court
Whether the applicant bank proved its case for recovery of the debt and interest against the defendants.
2 provisions across 1 enactments
Canara Bank
Sh. Manjeet Singh
Sh. Ranjit Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
