Allowed

Punjab National Bank v. Sh. Sukhvinder Singh

DRT22 May 2026OA/556/2026

Case brief

AI extract

What is this about?

The Tribunal allowed an original application filed by Punjab National Bank for recovery of Rs.37,19,878.70 owed by the defendant. The court granted simple interest at 8% p.a. and authorized recovery from the mortgaged property or personal assets.

What did the court decide?

Recovery of Rs.37,19,878.70 with 8% simple interest p.a. authorized from sale of mortgaged property or attachment of personal assets.

Punjab National Bank versus Sh. Sukhvinder Singh — Banking and Recovery | DRT (2026)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.556/2026

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 08.04.2026

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DATE OF DECISION: 22.05.2026

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Punjab National Bank, body corporate and Nationalized Bank under the provisions of The Banking Companies (Acquisition and Transfer of Undertakings) Act of 1970 with its Head Office at Plot No. 4, Sector10, Dwarka, New Delhi-110075 and amongst other a Branch Office at Jamalpur Awana, District Ludhiana, Punjab through its Constituted Attorney and Senior Manager, Sh. Debabrata Padhan S/o Sh. Upendra Padhan posted at Punjab National Bank, ARM Branch, Ludhiana situated at First Floor, Site No.5, Ferozepur Road, Ludhiana, Punjab.

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……..Applicant

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Versus

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Sh. Sukhvinder Singh S/o Sh. Sajjan Singh, R/o Village Khasi Kalan, P.O. Mundian Kalan, District Ludhiana-141015.

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……..Defendant

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Advocates:

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Argued by Ms. Parvinder Kaur, Advocate proxy for Sh. Kanwar Harbir Singh Bath, Advocate for Applicant

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None for defendant (Already ex-parte vide order dated 20.05.2026).

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FINAL ORDER

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Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts and Bankruptcy Act 1993, against the defendant for recovery of Rs.37,19,878.70 (Rupees Thirty Seven Lacs Nineteen Thousand Eight Hundred Seventy Eight and Paise Seventy Only). The Original Application has been filed through Sh. Debabrata Padhan, Senior Manager of the applicant, who is competent to institute the Original Application vide General Power of Attorney dated 25.10.2019, which is Annexure A1 to this OA.

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The brief facts of the OA are that the defendant approached the applicant for grant of Oriental Green Card Limit of Rs.20,00,000.00

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2 OA/556/2026 PUNJAB NATIONAL BANK VS SH. SUKHVINDER SINGH

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vide Application Form cum Process note for OGC Facility dated 07.01.2010, which is Annexure A2 to this OA.

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The applicant sanctioned the Oriental Green Card Limit of Rs.20,00,000.00 vide Sanction Letter dated 17.02.2010, which is Annexure A3 to this OA and terms and conditions were duly accepted by the defendant. 4. Defendant mortgaged his immovable property i.e., total Land measuring 13 Kanal 02 Marla as per Jamabandi for the year 2003-04 situated at Village Khasi Kalan, Hadbast No. 83, Tehsil & District Ludhiana vide Registered Mortgaged Deed bearing Vasika No. 15914 dated 22.01.2010, along with its translation, which is Annexure A5 to this OA.

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Documents executed: Agreement for Hypothecation of existing and future crops/moveable assets/live stock to secure a cash credit account of Oriental Green Card dated 17.02.2010, which is Annexure A4 to this OA; Balance and Security Confirmation Letters, dated 06.09.2012, 22.03.2013, 08.03.2016, 13.11.2018, 20.01.2020, 29.05.2022, 04.04.2025, which are Annexures A6 to A12 to this OA; Legal Notice dated 05.08.2022, along with postal receipt, which is Annexure A13 to this OA; Statement of Account along with certificate, which is Annexure A14 to this OA; 5. The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in loan account, there was a debit of Rs.37,19,878.70 which is recoverable and the defendant was served recall notices but he did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly. 6. The defendant was served summons to appear before this Tribunal but no one appeared on behalf of defendant and he was proceeded ex-parte vide order dated 20.05.2026. 7. In support of the OA, affidavit of Sh. Debabrata Padhan, Senior Manager, Punjab National Bank has been filed. 8. Heard ex-parte arguments and perused record.

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3 OA/556/2026 PUNJAB NATIONAL BANK VS SH. SUKHVINDER SINGH

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It was argued by learned proxy counsel that in view of the documentary evidence brought on record which had gone unrebutted, the applicant had proved its case. From the perusal of all the Annexures A1 to A14 to this OA, it is proved that the defendant approached applicant for availing of the loan facility, which was granted to him and for that he had executed all the relevant documents in favour of the bank. The defendant failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, loan account was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.37,19,878.70 (Rupees Thirty Seven Lacs Nineteen Thousand Eight Hundred Seventy Eight and Paise Seventy Only), along with interest from the defendant, from the date of filing of the present Original Application till realization of the amount. 10. In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @13.05%p.a. including penal interest @2% with half yearly rests from 18.02.2026 till the realization.

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The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the mortgaged property, undertaking of the defendant, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant simple interest @08.00% p.a. in the loan account from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.

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In the result, the application is allowed declaring that the defendant is liable to pay to the applicant a total sum of Rs.37,19,878.70 (Rupees Thirty Seven Lacs Nineteen Thousand Eight Hundred Seventy Eight and Paise Seventy Only), with costs, current

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OA/556/2026

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PUNJAB NATIONAL BANK VS SH. SUKHVINDER SINGH

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and future simple interest @08.00%p.a. in the loan account from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of mortgaged property of the defendant in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendant. The applicant is at liberty to enforce the claim through due process of law.

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12. Any other application pending stands disposed of.

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Issue Recovery Certificate accordingly.

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Parties to appear before Learned Recovery Officer of this Tribunal on 15.06.2026.

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Copy of this order be given dasti to the applicant and be sent to defendant through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned.

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Pronounced by me in the open Tribunal .

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Dated: 22.05.2026

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(MRIDULESH KUMAR SINGH)

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Presiding Officer,

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DRT-III, Chandigarh

Punjab National Bank v. Sh. Sukhvinder Singh

Case brief

What is this about?

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Punjab National Bank v. Sh. Sukhvinder Singh

Case brief

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What did the court decide?

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