Allowed

Punjab National Bank v. Rajinder Pal Singh

DRT24 Mar 2026OA/28/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Chandigarh allowed an OA filed by Punjab National Bank for recovery of ₹20,70,687/- plus interest. The applicant proved a loan advance and the due amount via affidavit evidence. The tribunal ordered recovery through sale of mortgaged land and personal property and directed issuance of a Recovery Certificate.

What did the court decide?

Application for recovery of ₹20,70,687/- with interest allowed. Recovery Certificate issued. Recovery via sale of mortgaged land and personal property directed. Party to appear before Recovery Officer

Punjab National Bank versus Rajinder Pal 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: 28/2024 Date of Institution: 04.12.2023 Date of Decision: 24.03.2026

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Punjab National Bank having its branches all over India and a branch at Dhianpur, District Gurdaspur, Punjab. ……..Applicant Vs.

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Rajinder Pal Singh s/o Sh. Sewak Singh, r/o H.No.39, Village Ghanie Ke Bet, Tehsil Dera Baba Nanak, District Gurdaspur, Punjab.

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……….Defendant

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Advocates

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Sh. Manish Luthera proxy counsel for Sh. Iqbal Mohammad, Counsel for the applicant bank. Defendant- ex parte vide order dated 04.10.2024 . OA for the Recovery of ₹20,70,687/- with interest @12.50% per annum with half-yearly rests from 04.12.2023. 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 ₹20,70,687/- with interest against Sh. Rajinder Pal Singh (defendant).

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Bank’s case is that on 18.02.2017, it had granted a loan of ₹12.00Lacs to defendant in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to interest @12.50% per annum with half-yearly rests. Defendant had duly acknowledged his liability towards the debt on 05.12.2019 and

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16.03.2022. On 18.02.2023, a sum of ₹20,70,687/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 23.01.2024, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 04.10.2024, he was proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Rohit Kumar, Authorized Officer along with the loan and security documents and marked them as Exhibit A-1 to A-. 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 ₹12.00 Lacs and on 18.02.2023, a sum of ₹20,70,687/- was due. 6. Accordingly, the application of the bank for the recovery of ₹20,70,687/- (Rupees Twenty Lacs Seventy Thousand Six Hundred Eighty Seven Only) with interest @12.50% per annum with half-yearly rests from 04.12.2023, till the date of payment is hereby allowed with costs. 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 defendant. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Party is directed to appear before Recovery Officer on 01.05.2026, 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 party. Pronounced in the open Court. (A S Narang) Dated: 24.03.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Rajinder Pal Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Rajinder Pal Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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