The Tribunal allowed the bank's application under Section 19 RDB Act for recovery of Rs. 76,01,653/-. The court held the debt valid, directed sale of mortgaged land, and issued a recovery certificate against the primary borrowers and guarantor.
Application allowed; recovery of Rs. 76,01,653/ with interest directed; Recovery Certificate issued; pending IAs disposed of.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 29 of 2022 Date of Institution: 30.12.2021 Date of Decision: 27.08.2026
Bank of India having its branches all over India and a branch at Sutlej Market Branch, Empire Estate, 14-Police Line, Jalandhar, Punjab.
……..Applicant
Vs.
……….Defendants
Advocates
Ms. Meena Malhotra, Counsel for the applicant bank. Defendants - ex parte .
OA for the Recovery of Rs.76,01,653/- with interest @9.90% per annum with half-yearly rests from 30.12.2021.
ORDER
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bank granted additional K.C.C. Limit of Rs.16.00Lacs aggregating to Rs.45.00Lacs. To secure the loan, Defendant nos. 1 and 2 had mortgaged their land (fully detailed in para No.3A of the application). Defendant no.3 stood as the guarantor vide deed dated 13.02.2013 and 30.09.2015. The loan was chargeable to interest @9.90% per annum with half-yearly rests. The defendants had acknowledged the liability towards the debt on 30.09.2015, 18.09.2018 and 12.02.2021. On 13.12.2021, a sum of Rs.76,01,653/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
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| No.3 | A of the application as well as from the personal movable and |
|---|---|
| imm | ovable property(ies) of the defendant nos. 1 and 3. |
| 7. | Pending IAs, if any, stand disposed of. |
| 8. | Recovery Certificate be issued accordingly. |
| 9. | Parties are directed to appear before Recovery Officer on |
| 28.0 | 9.2026. |
| 10. | A Copy of this order along with Recovery Certificate be sent to |
| the R | ecovery Officer as well as the parties. |
| Pron Date |
ounced in the open Court. (A S Narang) d:27.08.2026 Presiding Officer DRT-1, Chandigarh |
1 issue framed by the court
Whether the bank is entitled to recover the loan amount with interest as per the terms of the application.
1 provisions across 1 enactments
Bank of India
Sh. Gurcharan Singh
Smt. Ranjit Kaur
Inderjit Singh
Sh. Kamaljot Singh
Sh. Balwinder Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
