Allowed

Punjab National Bank v. Mangal Singh

DRT28 Jan 2026OA/400/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of a defaulting agricultural loan. After an ex parte proceeding due to the respondent's non-appearance, the Tribunal found the debt proved and directed the issuance of a Recovery Certificate and distribution of proceeds from mortgaged land.

What did the court decide?

Recovery of Rs.37,04,265/- with interest; issuance of Recovery Certificate; direction to distribute sale proceeds.

Punjab National Bank versus Mangal Singh — Banking and Recovery | 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: 400/2024 Date of Institution: 23.01.2024 Date of Decision: 28.01.2026

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Punjab National Bank having its branches all over India and a branch at Sohal Gurdaspur, Punjab.

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……..Applicant Vs.

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Mangal Singh s/o Sh. Lakhbir Singh, r/o Village Aluna, P.O. Hardochhani, District Gurdaspur, Punjab.

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……….Defendant

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Advocates

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Sh. K.S. Manhas through VC, Counsel for the applicant bank. Defendant- ex parte vide order dated 30.01.2025 .

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OA for the Recovery of Rs.37,04,265/- with interest @10% per annum with yearly rests from 23.01.2024.

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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 Rs.37,04,265/- with interest against Sh. Mangal Singh (defendant).

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Bank’s case is that on 12.06.2014, it had granted a loan of Rs.20.00 Lacs 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 @10% per annum with yearly rests. Defendant had duly acknowledged his liability towards the debt on 09.03.2017, 02.08.2018, 04.06.2021. On 31.12.2023, a sum of Rs.37,04,265/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 21.03.2024, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 31.01.2025, he was proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Sanil Kumar, Senior Manager along with the loan and security documents and marked them as Exhibit A-1 to A-11. 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 Rs.20.00 Lacs and on 31.12.2023, a sum of Rs.37,04,265/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.37,04,265/- (Rupees Thirty Seven Lacs Four Thousand Two Hundred Sixty Five Only) with interest @10% per annum with yearly rests from 23.01.2024, 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 03.03.2026, 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 . 10. 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: 28.01.2026 Presiding Officer DRT-1, Chandigarh

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MANOJ KALRA

Punjab National Bank v. Mangal Singh

Case brief

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Punjab National Bank v. Mangal Singh

Case brief

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