Allowed

Punjab National Bank v. Smt. Angrej Kaur and Another

DRT17 Feb 2026OA/565/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by Punjab National Bank for recovery of Rs.25,26,689 from two respondents. The Tribunal confirmed liability, adjusted interest from 11.5%/12% to 8% p.a., and authorized recovery from hypothecated assets or personal assets.

What did the court decide?

Relief: Recovery Certificate issued for Rs.25,26,689 at 8% simple interest p.a.; Defendants declared liable; liberty to enforce against mortgaged or personal assets.

Punjab National Bank versus Smt. Angrej Kaur and Another — Banking and Recovery | DRT (2026)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.565/2025

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 25.03.2025

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DATE OF DECISION: 17.02.2026

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Punjab National Bank, a Body Corporate constituted under Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 having its Head Office at Plot No.4, Sector-10, Dwarka, New Delhi110075 and Branch Offices, amongst others at Branch Office at Patiala Gate, Sangrur (Punjab). Later on the account has been transferred to Punjab National Bank, Circle SASTRA Centre, SCO No.146 (2^nd Floor), Near Improvement Trust Complex, Chhoti Baradari, Patiala (Punjab)147001 through it General Power of Attorney Holder Sh. Vikramjeet Dehran, Senior Manager of the applicant.

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……..Applicant

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Versus

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Smt. Angrej Kaur w/o Late Sh. Mukand Singh, R/o Village Sadharanpur, Tehsil Patran, District Patiala- 147102, Punjab

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Sh. Amandeep Singh s/o Sh. Labh Singh, R/o Village Sadharanpur, Tehsil Patran, District Patiala- 147102, Punjab

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…….Defendants

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Advocates:

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Argued by Ms. Dipti Toni, Advocate for the applicant

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Defendants already ex-parte vide order dated 18.12.2025

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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 defendants for recovery of Rs.25,26,689.00 (Rupees Twenty Five Lacs Twenty Six Thousand Six Hundred Eighty Nine Only). The Original Application has been filed through Sh. Vikramjeet Dehran, Senior Manager of the applicant, who is competent to institute the Original Application vide Power of Attorney dated 01.01.2007, which is Annexure A1 to this OA.

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2 OA/565/2025

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PUNJAB NATIONAL BANK VS. ANGREJ KAUR AND ANOTHER 2. The brief facts of the OA are that the defendants approached the applicant for the grant of KCC Limit of Rs.8.00 Lacs, Agriculture Term Loan of Rs.1.00 Lac and Term Loan of Rs.1.00 Lac for debt swap vide loan applications dated 07.08.2014, which are Annexure A2(Colly) to this OA. 3. The applicant sanctioned KCC Limit of Rs.8.00 Lacs, Agriculture Term Loan of Rs.1.00 Lac and Term Loan of Rs.1.00 Lac vide letter of sanction which is Annexure A3 to this OA and the terms and conditions were duly accepted by the defendants. Acceptance letter for availing loan dated 19.08.2014, which is Annexure A9 to this OA. 4. Defendant No.1 mortgaged her immovable property i.e. Land measuring 24Kanal-00Marla situated at Village Sadharanpur, Tehsil Patran, District Patiala, Punjab vide mortgage deed no.1590 dated 12.08.2014, along with its translation, which is Annexure A4 to this OA. Documents executed: Hypothecation Agreement, Letter of Undertaking, Letter of Consent, Text of the Consent Clause, all dated 19.08.2014 which are Annexures A5 to A8 to this OA; Affidavit dated 07.08.2014 which is Annexure A10 to this OA; Legal Notice & Letter dated 09.10.2017 & 01.09.2022, which are Annexure A11(Colly) to this OA; Balance & Security Confirmation Letter dated 26.05.2017, 29.07.2019, 10.07.2022 and 04.10.2022 which are Annexures A12 to A14 to this OA; Statement of Accounts along with interest Chart and certificates which are Annexure A15(Colly) to this OA. 5. The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in loan accounts there was a debit of Rs.25,26,689.00 which is recoverable and the defendants were served recall notices but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly.

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3 OA/565/2025

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PUNJAB NATIONAL BANK VS. ANGREJ KAUR AND ANOTHER

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The defendants were served notices to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte vide order dated 18.12.2025. 7. In support of the OA, affidavit of Sh. Vikramjeet Dehran, Senior Manager, Punjab National Bank has been filed. 8. Heard ex-parte arguments and perused record. 9. It was argued by learned 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 A15 to this OA, it is proved that the defendants approached applicant for availing of the loan facilities which were granted to them and for that they had executed all the relevant documents in favour of the bank. The defendants failed to pay back the loans as per terms and conditions of the agreement between the parties. Subsequently, accounts of the defendants were classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.25,26,689.00 (Rupees Twenty Five Lacs Twenty Six Thousand Six Hundred Eighty Nine Only) along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the accounts.

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In so far as pendent elite and future rate of interest is concerned, the applicant in relief clause has claimed interest @11.50% p.a. in KCC and @12%p.a. in Term Loans from 05.02.2025 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/hypothecated assets, undertaking of the defendants, quantum of loans and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this

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OA/565/2025

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PUNJAB NATIONAL BANK VS. ANGREJ KAUR AND ANOTHER

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Tribunal deems it just and appropriate to grant uniform simple interest @8.00%p.a. in all the loan accounts 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 defendants are liable to pay to the applicant a total sum of Rs.25,26,689.00 (Rupees Twenty Five Lacs Twenty Six Thousand Six Hundred Eighty Nine Only) with costs, current and future simple interest @8.00%p.a. in all the loan accounts 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 hypothecated assets/mortgaged properties of the defendants 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. 13. Issue Recovery Certificate accordingly. 14. Parties to appear before Learned Recovery Officer of this Tribunal on 05.03.2026. 15. Copy of this order be given dasti to the applicant and be sent to defendants through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned. Pronounced by me in the open Tribunal. Dated: 17.02.2026. (MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Punjab National Bank v. Smt. Angrej Kaur and Another

Case brief

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Punjab National Bank v. Smt. Angrej Kaur and Another

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