Allowed

Punjab National Bank v. Smt. Jasbir Kaur

DRT10 Feb 2026OA/91/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application under Section 19 of the RDB Act filed by Punjab National Bank for recovery of a loan with interest. The bank proved the loan advance and due amount via affidavit and documents. Defendants did not appear. The Tribunal ordered recovery from mortgaged land and other properties.

What did the court decide?

Recovery of ₹34,46,286.79 with interest allowed; Recovery Certificate issued; Liability declared joint and several; Direction to distribute sale proceeds of mortgaged land.

Punjab National Bank versus Smt. Jasbir Kaur — 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: 91/2024 Date of Institution: 27.12.2023 Date of Decision: 10.02.2026

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Punjab National Bank having its branches all over India and a branch at Dhianpur, District Gurdaspur, Punjab.

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……..Applicant

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Vs.

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Smt. Jasbir Kaur W/o Sh. Dalbir Singh, R/o Village Shehzada Kalan, Post Office Dharmkot Randhawa, Tehsil Dera Baba Nanak, District Gurdaspur, Punjab.

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Sh. Inderjeet Singh S/o Sh. Dalbir Singh, R/o Village Shehzada Kalan, Post Office Dharmkot Randhawa, Tehsil Dera Baba Nanak, District Gurdaspur, Punjab.

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Sh. Simranjeet Singh S/o Sh. Dalbir Singh, R/o Village Shehzada Kalan, Post Office Dharmkot Randhawa, Tehsil Dera Baba Nanak, District Gurdaspur, Punjab.

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……….Defendants

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Advocates

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Ms. Nisha Meena, Nodal Officer for the applicant bank. Defendants - ex parte vide order dated 04.12.2024 .

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OA for the Recovery of ₹34,46,286.79p with interest @11.50% per annum with half-yearly rests from 27.12.2023.

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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 ₹34,46,286.79p with interest against Smt. Jasbir Kaur and others (defendants).

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Bank’s case is that on 11.07.2013, it had granted a loan of ₹14.00 Lacs to defendants in the form of K.C.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). The loan was

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chargeable to interest @11.50% per annum with half-yearly rests. Defendants had duly acknowledged their liability towards the debt on 17.05.2016, 07.05.2019 and 02.05.2022. On 05.12.2023, a sum of ₹34,46,286.79p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 01.02.2024, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 04.12.2024, 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. Rohit Kumar, Senior Manager along with the loan and security documents and marked them as Exhibit A-1 to A-14.

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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 ₹14.00Lacs and on 05.12.2023, a sum of ₹34,46,286.79p was due.

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Accordingly, the application of the bank for the recovery of ₹34,46,286.79p (Rupees Thirty Four Lacs Forty Six Thousand Two Hundred Eighty Six and Paise Seventy Nine Only) with interest @11.50% per annum with half-yearly rests from 27.12.2023, 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.

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Recovery Certificate be issued accordingly.

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Parties are directed to appear before Recovery Officer on 19.03.2026, 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 parties.

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Pronounced in the open Court. (A S Narang) Dated: 10.02.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Smt. Jasbir Kaur

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Smt. Jasbir Kaur

Case brief

What is this about?

What did the court decide?

What the court decided

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