Allowed

Punjab National Bank (Oriental Bank of Commerce) v. Sh. Surinder Singh

DRT27 Jul 2026OA/730/2023

Case brief

AI extract

What is this about?

On 27.07.2026, the Debts Recovery Tribunal, Chandigarh allowed an application by Punjab National Bank for the recovery of ₹40,06,725.55 with interest against three respondents who failed to appear. The court permitted recovery via mortgaged land and personal property.

What did the court decide?

Recovery of ₹40,06,725.55 with interest @10.50% p.a. from 31.03.2023; recovery via sale of mortgaged land and property; issuance of recovery certificate.

Punjab National Bank (Oriental Bank of Commerce)… — 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: 730/2023

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Date of Institution: 31.03.2023 Date of Decision: 27.07.2026

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Punjab National Bank (erstwhile Oriental Bank of Commerce) having its branches all over India and a branch at Jandiala Manjki, District Jalandhar, Punjab.

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……..Applicant

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Vs.

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Sh. Surinder Singh s/o Sh. Pargan Singh, r/o Village Baghela, P.O. Umarwal Billa, Tehsil Nakodar, District Jalandhar, Punjab.

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Mrs. Kulwinder Kaur w/o Sh. Surinder Singh, r/o Village Baghela, P.O. Umarwal Billa, Tehsil Nakodar, District Jalandhar, Punjab.

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Mr. Major Singh s/o Sh. Satnam Singh, r/o VPO Bhardwajian, District Jalandhar, Punjab.

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……….Defendants

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Advocates

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Sh. S.N. Sharma along with Sh. Ajay Dadhwal, Senior Branch Manager of the applicant bank.

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Defendants- ex parte vide order dated 04.09.2024 .

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OA for the Recovery of ₹40,06,725.55p with interest @10.50% per annum with half-yearly rests from 31.03.2023.

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ORDER

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Punjab National Bank (Oriental Bank of Commerce) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹40,06,725.55p with interest against Sh. and others (defendants).

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Bank’s case is that on 29.08.2012, it had granted a loan of ₹30.00 Lacs to defendant Nos. 1 and 2 in the form of K.C.C Limit under OGC Scheme for agricultural purpose. To secure the loan, Defendant No.1 had mortgaged his land and hypothecated his crops (fully detailed in para

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No.3A of the application). Defendant No.3 stood as guarantor for the vide Agreement of Guarantee dated 07.09.2012. The loan was chargeable to interest @10.50% per annum with half-yearly rests. Defendants had duly acknowledged their liability towards the debt on 04.09.2015, 03.09.2018 and 01.09.2020. On 27.03.2023, a sum of ₹40,06,725.55p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 12.05.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 04.09.2024, 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. Sanjeev Kumar Chanana, Senior Manager along with the loan and security documents and marked them as Exhibit A-1 to A-17.

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I have perused the evidence on the record. Mr. Ajay Dadhwal, Senior Branch Manager is present with the original documents which have been perused by me. The same have 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 ₹30.00 Lacs and on 27.03.2023, a sum of ₹40,06,725.55p was due.

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Accordingly, the application of the bank for the recovery of ₹40,06,725.55p (Rupees Forty Lacs Six Thousand Seven Hundred Twenty Five and Paise Fifty Five Only) with interest @10.50% per annum with half-yearly rests from 31.03.2023, 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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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 31.08.2026, who is directed to distribute the sale proceeds of the mortgaged land and standing crops as per the provisions of Section 19(20-AB) of the Act . 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: 27.07.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank (Oriental Bank of Commerce) v. Sh. Surinder Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank (Oriental Bank of Commerce) v. Sh. Surinder Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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