The Debt Recovery Tribunal allowed an ex-parte application by Union Bank of India to recover a debt of Rs. 20,02,351.92 from Sh. Mandeep Singh. The court reduced the claimed interest rate to 8% p.a. and directed issuance of a Recovery Certificate.
Recovery Certificate issued; Defendant liable to pay Rs.20,02,351.92 with costs and 8% p.a. interest.
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.
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.585/2026
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 16.04.2026
DATE OF DECISION: 06.07.2026
Union Bank of India, a Body Corporate constituted under Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, having its Head Office at Union Bank Bhawan, 239, Vidhan Bhawan Marg, Nariman Point, Mumbai, Maharashtra - 400021 and Branch Offices amongst others at Phillaur Branch, District Jalandhar through its Branch Manager namely Sh. Shivam Bajpai, PF: 698484 of the Applicant Bank vide Authorization Letter dated 18.09.2025.
……..Applicant
……. .Defendant
Advocates:
Argued by Sh. Sandesh Arora, Advocate for the applicant (through VC)
None for Defendant (Already ex-parte vide order dated 03.07.2026).
FINAL ORDER
Lacs Two Thousand Three Hundred Fifty One and Paise Ninety Two Only). The Original Application has been filed through Sh. Shivam Bajpai , Branch Manager of the applicant bank, who is competent to institute the Original Application vide Authority Letter dated 18.09.2025, which is Annexure A1 to this OA.
2 OA NO.585/2026 UNION BANK OF INDIA VS SH. MANDEEP SINGH
Harvester of Rs.22,00,000.00 vide Application Form for Agricultural Credit dated 30.05.2024, which is Annexure A2 to this OA.
Documents executed : Copy of Adhar Card and Pan Card, which are Annexure A4(Colly) to this OA; Quotation dated 19.04.2024 along advance payment letter dated 23.05.2024, which are Annexure A5(Colly) to this OA; Demand Promissory Note, AD-02A, Letter of Continuity (AD-09), Term Loan Agreement (Hypothecation of Movables), Deed of Guarantee, Letter of Undertaking from Borrower, Letter of Undertaking not to alienate Hypothecated Goods, Letter regarding signing of blank Form Number 28, 29, 30, 34, 35, all dated 06.06.2024, which are Annexures A6 to A13 to this OA; Form Numbers 28, 29, 30, 34, 35, which are Annexure A14(Colly) to this OA; Insurance copy dated 03.08.2024, which is Annexure A17 to this OA; Overdue Notices dated 10.01.2025, 03.02.2025, 10.02.2025, 05.03.2025, 20.03.2025, 29.03.2025, along with postal receipts, which are Annexure A18(Colly) to this OA; Legal Notice dated 19.09.2025,
which is Annexure A19 to this OA; copy of the cheque dated 14.01.2026 and cheque returning memo dated 16.01.2026, which are Annexure A20(Colly) to this OA; Legal Notice dated 27.01.2026, which is Annexure A21 to this OA; Statement of account along with certificate, which are Annexures A22 to A24 to this OA.
3 OA NO.585/2026 UNION BANK OF INDIA VS SH. MANDEEP SINGH
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.
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 hypothecated asset, undertaking of the defendant, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising
4 OA NO.585/2026 UNION BANK OF INDIA VS SH. MANDEEP SINGH
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.
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 21.07.2026. 15. 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. Pronounced by me in the open Tribunal . Dated: 06.07.2026 (MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh
2 issues framed by the court
Whether the applicant bank is entitled to recover the outstanding dues from the defendant against whom no representation was filed.
Whether the Tribunal is justified in reducing the rate of interest to 8% per annum while allowing possession of the claim.
1 provisions across 1 enactments
Union Bank of India
MRIDULESH KUMAR SINGH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
