The Tribunal allowed an Original Application filed by State Bank of India against Hardeep Singh for recovery of a loan account. The court confirmed the debt amount, adjusted interest rates, and ordered the issuance of a Recovery Certificate.
Recovery Certificate issued. Respondent declared liable to pay Rs. 21,97,607 plus costs and 08% p.a. simple 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.622/2023
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 29.04.2023
DATE OF DECISION: 23.01.2026
State Bank of India, a body corporate constituted under the provisions of the State Bank of India Act, 1955 (23 of 1955) and the successor to State Bank of Patiala under the Acquisition of State Bank of Patiala Order 22.02.2017 passed by the Central Government under Section 35 of the State Bank of India Act, 1955 (23 of 1955) having its Corporate Office at Madame Cama Road, Nariman Point, Mumbai (Maharashtra) 400021 carrying on its Business of Banking in India and Abroad, having one of its Local Head Office at Sector 17A, Chandigarh, having its Branch Office at Bagha Purana, Nihal Singh Wala Road, District Moga (Punjab) through Sh. Sanjay Kumar Narang, Chief Manager of the Applicant.
……..Applicant Versus
Sh. Hardeep Singh S/o Sh. Gurmel Singh, VPO Nathewala, Near Gurudwara, Tehsil Bagha Purana, District Moga (Punjab)
……….Defendant
Advocates:
Argued by Sh. Banni Thomas, Advocate for the applicant
Defendant ex-parte vide order dated 28.05.2025
FINAL ORDER
2
OA/622/2023
STATE BANK OF INDIA VS HARDEEP SINGH
under Regulation no. 76 and 77 of State Bank of India General Regulations,1955 made by the Reserve Bank of India in exercise of powers conferred by sub section 3 of section 50 of the State Bank of India Act, 1955 with the previous sanction of the Central Government. 2. The brief facts of the OA are that the defendant approached the applicant for grant of KCC Limit of Rs. 9.70 Lacs vide Application Form dated 19.07.2013, which is Annexure A1 to this OA and thereafter, approached the applicant for enhancement of the limit to Rs. 16.00 Lacs vide Loan Application dated 11.01.2016, which is Annexure A8 to this OA.
3
OA/622/2023 STATE BANK OF INDIA VS HARDEEP SINGH
4
OA/622/2023 STATE BANK OF INDIA VS HARDEEP SINGH
assets, 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 uniform 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.
Pronounced by me in the open Tribunal . Dated: 23.01.2026.
(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh
1 issue framed by the court
Whether the applicant is entitled to recover the outstanding debt from the respondent.
2 provisions across 2 enactments
State Bank of India
Hardeep Singh
MRIDULESH KUMAR SINGH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
