Allowed

Punjab National Bank v. Sh. Malkat Singh @ Malkiat Singh

DRT25 Aug 2026OA/640/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of ₹44.93 lakhs plus interest against the defendants. The bank proved its case via documentary evidence that the loan was advanced and remained outstanding. The court awarded the dues and directed issuance of a recovery certificate.

What did the court decide?

Application allowed for recovery of ₹44,92,831.69 with interest; Recovery Certificate to be issued; liability joint and several.

Punjab National Bank versus Sh. Malkat 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: 640/2024 Date of Institution: 30.11.2023 Date of Decision: 25.08.2026

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Punjab National Bank (erstwhile Oriental Bank of Commerce) having its branches all over India and a branch at Dera Road Sukerpura, Batala, District Gurdaspur, Punjab.

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……..Applicant

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Vs.

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Sh. Malkat Singh @ Malkiat Singh s/o Sh. Harbhajan Singh.

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Smt. Beant Kaur w/o Sh. Malkat Singh @ Malkiat Singh.

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Sh. Jatinder Pal Singh s/o Sh. Malkat Singh @ Malkiat Singh All Residents of: - VPO Ram Dewali Musalman, Tehsil Baba Bakala District Amritsar, Punjab.

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……….Defendants

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Advocates

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Sh. Aseem Kataria, Counsel for the applicant bank along with Sh. Sahil Banthodiya, Deputy Manager of the applicant bank. Defendants- ex parte vide order dated 09.12.2024 .

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OA for the Recovery of ₹44,92,831.69p with interest @10.75% per annum with half-yearly rests from 30.11.2023.

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ORDER

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Punjab National Bank has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹44,92,831.69p with interest against Sh. Malkat Singh @ Malkiat Singh and others (defendants).

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Bank’s case is that on 03.11.2021, it had granted a loan of ₹15.00 Lacs to defendants in the form of O.G.C. loan facility for agricultural purpose. To secure the loan, Defendant No.1 had mortgaged his agricultural land (fully detailed in para No.3A of the application). The loan was chargeable to interest @10.75% per annum with half-yearly

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rests. Defendants had duly acknowledged their liability towards the debt on 27.12.2014 and 21.12.2017 and 07.12.2020. On 31.10.2023, a sum of ₹44,92,831.69p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 10.05.2024, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 09.12.2024, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Sh. Abhishek Chaudhary, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-11. 5. I have perused the evidence on the record. Sh. Sahil Banthodiya, Deputy Manager of the applicant bank is present along with the original documents which have been perused by me. The same has been returned to him after perusal. I am of the considered view that the Bank has proved its case that it had advanced the loan of ₹15.00 Lacs and on 31.10.2023, a sum of ₹44,92,831.69p was due. 6. Accordingly, the application of the bank for the recovery of ₹44,92,831.69p (Rupees Forty Four Lacs Ninety Two Thousand Eight Hundred Thirty One and Paise Sixty Nine Only) with interest @10.75% per annum with half-yearly rests from 30.11.2023, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. 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 defendants.

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7. Pending IAs,	if any, stand disposed of.

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Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 28.09.2026. 10. A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties. Pronounced in the open Court. (A S Narang) Dated: 25.08.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Sh. Malkat Singh @ Malkiat Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Sh. Malkat Singh @ Malkiat Singh

Case brief

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What did the court decide?

What the court decided

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