DRT allowed the bank's application for recovery of dues with interest and costs. The legal heir is liable up to the value of inherited property, while the guarantor is fully liable.
Recovery of ₹31,30,800.42 with interest at 8.50% per annum allowed with costs and issuance of Recovery Certificate.
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: 306/2023 Date of Institution: 04.02.2023 Date of Decision: 11.02.2026
Punjab National Bank (erstwhile Oriental Bank of Commerce) having its branches all over India and a branch at Ladowali Road, Jalandhar, Punjab.
……..Applicant
Vs.
……….Defendants
Advocates
Sh. Omkar Gupta, Counsel for the applicant bank. Defendants - ex parte vide order dated 29.05.2024 .
OA for the Recovery of ₹31,30,800.42p with interest @8.50% per annum with half-yearly rests from 04.02.2023.
ORDER
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his land (fully detailed in para No.3A of the application). Defendant No.2 stood as guarantor vide guarantee agreement dated 10.10.2005, (Annexure A/6). The loan was chargeable to interest @8.50% per annum with half-yearly rests. Defendants had duly acknowledged their liability towards the debt on 01.06.2007, 02.01.2010, 27.12.2012, 24.09.2015, 30.06.2018, 18.09.2019, 19.09.2019, 08.07.2021, 24.07.2021 and 11.01.2022. On 24.01.2023, a sum of ₹31,30,800.42p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
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MANOJ KALRA
2 issues framed by the court
Whether the bank established the existence of the debt and the liability of the respondents under the RDB Act.
Whether the legal heir of the deceased borrower is liable for the debt and to what extent.
2 provisions across 1 enactments
Punjab National Bank
Sh. Gurpreet Chatha
Sh. Iqbal Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
