Allowed

Punjab National Bank v. Sh. Gurdit Singh

DRT28 Jan 2026OA/780/2023

Case brief

AI extract

What is this about?

This DRT adjudicated an application for recovery of a disputed loan of Rs 2.57 crores with interest. The Presiding Officer found in favor of the bank and ordered joint and several liability on all defendants, permitting recovery through sale of mortgaged and personal properties.

What did the court decide?

Recovery of Rs 25,78,957.77p with interest allowed; recovery certificate issued; parties directed to appear before Recovery Officer on 03.03.2026.

Punjab National Bank versus Sh. Gurdit Singh — Banking and Recovery | 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: 780 of 2023 Date of Institution: 12.04.2023 Date of Decision: 28.01.2026

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Punjab National Bank having its branches all over India and a branch at M.L.M. Senior Secondary School, Railway Road, Ferozepur, Tehsil and District Ferozepur and Circle Sastra Moga, Tehsil and District Moga, Punjab.

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……..Applicant

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Vs.

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Sh. Gurdit Singh s/o Sh. Narain Singh.

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Smt. Jaswinder Kaur w/o Sh Gurdit Singh.

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Sh. Gurmukh Singh s/o Sh. Dalip Singh. All residents of Village Sappanwali P.O. Bhange Tehsil and District Ferozepur, Punjab.

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……….Defendants

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Advocates

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Sh. Aseem Kataria, Counsel for the applicant bank. Defendants - ex parte .

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OA for the Recovery of Rs.25,78,957.77p with interest @10.80% per annum with half-yearly rests from 12.04.2023.

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ORDER

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Punjab National Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.25,78,957.77p with interest against Sh. Gurdit Singh and others (defendants).

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Bank’s case is that on 27.07.2011, it had granted a loan of Rs.20.00Lacs to defendant nos. 1 and 2 in the form of O.G.C. Limit for agricultural purpose. To secure the loan, Defendant nos.1 and 2 had mortgaged their land (fully detailed in para No.3A of the application). Defendant no.3 stood as the guarantor. The loan was chargeable to

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interest @10.80% per annum with half-yearly rests. On 28.02.2023, a sum of Rs.25,78,957.77p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 18.05.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 29.07.2025, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Sandeep Kumar, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-9.

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I have perused the evidence on the record. I am of the considered view that the Bank has proved its case that it had advanced the loan of Rs.20.00Lacs and on 28.02.2023, a sum of Rs.25,78,957.77p was due. 6. Accordingly, the application of the bank for the recovery of Rs.25,78,957.77p (Rupees Twenty Five Lacs Seventy Eight Thousand Nine Hundred and Fifty Seven and Seventy Seven Paise Only) with interest @10.80% per annum with half-yearly rests from 12.04.2023, 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 03.03.2026, who is directed to distribute the sale proceeds of the

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mortgaged property(ies) 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: 28.01.2026 Presiding Officer DRT-1, Chandigarh Amanpreet (Law Researcher)

Punjab National Bank v. Sh. Gurdit Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Sh. Gurdit Singh

Case brief

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What did the court decide?

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