Allowed

Punjab Gramin Bank v. Sh. Pargat Singh

DRT12 Feb 2026OA/542/2024

Case brief

AI extract

What is this about?

Punjab Gramin Bank filed an original application before DRT-I, Chandigarh for recovery of ₹45,17,410 with interest against Sh. Pargat Singh. The Tribunal found for the Bank after the respondent appeared ex parte and allowed recovery of dues via sale of mortgaged and other properties.

What did the court decide?

Recovery of ₹45,17,410 with interest @11.50% per annum from sale of mortgaged land and personal assets. Recovery certificate to be issued.

Punjab Gramin Bank versus Sh. Pargat 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: 542 of 2024 Date of Institution: 02.04.2024 Date of Decision: 12.02.2026

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Punjab Gramin Bank having its branches all over India and a branch at Chogawan, Tehsil Ajnala, District Amritsar, Punjab.

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……..Applicant Vs.

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Sh. Pargat Singh S/O Sh. Jhanda Singh R/O Village Vanieke, Tehsil Ajnala, Distt. Amritsar, Punjab.

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……….Defendant

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Advocates

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Ms. Harleen Kaur, Counsel for the applicant bank. Defendant - ex parte .

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OA for the Recovery of ₹45,17,410p interest @11.50% per annum with yearly rests from 02.04.2024.

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ORDER

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Punjab Gramin Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹45,17,410p with interest against Sh. Pargat Singh (defendant).

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Bank’s case is that on 28.03.2014, it had granted a loan of ₹22.50Lacs to the 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 @11.50% per annum with yearly rests. The defendant had acknowledged the liability towards the debt on 30.07.2016, 02.06.2017, 02.07.2018, 05.11.2020 and 11.01.2022. On 28.03.2024, a sum of ₹45,17,410p was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 18.04.2024, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 18.12.2024, he proceeded was ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Hemant Aggarwal, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-17. 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 ₹22.40Lacs and on 28.03.2024, a sum of ₹45,17,410p was due. 6. Accordingly, the application of the bank for the recovery of ₹45,17,410p (Rupees Forty Five Lacs Seventeen Thousand Four Hundred and Ten Only) with interest @11.50% per annum with yearly rests from 02.04.2024, 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 23.03.2026, who is directed to distribute the sale proceeds of the mortgaged property(ies) 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: 12.02.2026 Presiding Officer DRT-1, Chandigarh Amanpreet (Law Researcher)

Punjab Gramin Bank v. Sh. Pargat Singh

Case brief

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Punjab Gramin Bank v. Sh. Pargat Singh

Case brief

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