Allowed

Punjab National Bank v. Narinder Kumar

DRT29 Jan 2026OA/869/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 33.54 lakhs plus interest against the defendant, who failed to appear ex parte, and directed issuance of a recovery certificate and sale of mortgaged property. The order was dated 29.01.2026.

What did the court decide?

Recovery of Rs. 33,54,481.15 with interest; Recovery Certificate issued; Sale of mortgaged land and standing crops to be distributed.

Punjab National Bank versus Narinder Kumar — 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: 869/2024 Date of Institution: 08.04.2024 Date of Decision: 29.01.2026

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Punjab National Bank having its branches all over India and a branch at Talwandi Rama, Distt. Gurdaspur, Punjab.

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……..Applicant Vs.

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Narinder Kumar s/o Sh. Raj Kumar, R/o House no. 218, Village Talwandi Raaman, Tehsil Dera Baba Nanak, Distt. Gurdaspur.

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……….Defendant

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Advocates

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Ms. Parmeet kaur proxy counsel for Sh. RS Bhatia, Counsel for the applicant bank.

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Defendant- ex parte vide order dated 30.01.2025 .

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OA for the Recovery of Rs.33,54,481.15p with interest @12.25% per annum with half-yearly rests from 08.04.2024.

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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 Rs.33,54,481.15p with interest against Sh. Narinder Kumar (defendant).

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Bank’s case is that on 23.02.2015, it had granted a loan of Rs.15.00 Lacs to defendant in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to interest @12.25% per annum with half-yearly rests. Defendant had duly acknowledged his liability towards the debt on 30.08.2017, 03.07.2019, 01.07.2022. On 16.03.2024, a sum of Rs.33,54,481.15p was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 05.07.2024, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 30.01.2025, he was proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Sudhir Bhatia, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-13. 5. 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.15.00 Lacs and on 16.03.2024, a sum of Rs.33,54,481.15p was due. 6. Accordingly, the application of the bank for the recovery of Rs.33,54,481.15p (Rupees Thirty Three Lacs Fifty Four Thousand Four Hundred Eighty One and Paise Fifteen Only) with interest @12.25% per annum with half-yearly rests from 08.04.2024, till the date of payment is hereby allowed with costs. 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 defendant.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Party is directed to appear before Recovery Officer on 04.03.2026, 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 party. Pronounced in the open Court. (A S Narang) Dated: 29.01.2026 Presiding Officer DRT-1, Chandigarh

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MANOJ KALRA

Punjab National Bank v. Narinder Kumar

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Narinder Kumar

Case brief

What is this about?

What did the court decide?

What the court decided

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