Allowed

Punjab National Bank v. Sh. Bhupinder Singh

DRT4 May 2026OA/97/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of dues amounting to approx. 43.26 Lakhs along with interest. The court proceeded ex parte against the defendant who failed to appear after proper summons. A recovery certificate was issued, and proceedings were directed to be taken for the sale of mortgaged land, hypothecated stocks, and other assets.

What did the court decide?

Recovery of ₹43,25,748.45 with interest @11.50% p.a.; issue of Recovery Certificate; direction to appear before Recovery Officer on 08.06.2026 for distribution of sale proceeds.

Punjab National Bank versus Sh. Bhupinder 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: 97/2024 Date of Institution: 20.11.2023 Date of Decision: 04.05.2026

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Punjab National Bank having its branches all over India and a branch at Gakhal, Jalandhar, Punjab.

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……..Applicant Vs.

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Sh. Bhupinder Singh s/o Sh. Palwinder Singh, r/o Village Gill, P.O. Chamiara, Tehsil & District Jalandhar, Punjab.

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……….Defendant

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Advocates

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Ms. Harleen Kaur, Counsel for the applicant bank. Defendant- ex parte vide order dated 07.11.2024 . OA for the Recovery of ₹43,25,748.45p with interest @11.50% per annum with yearly rests from 20.11.2023.

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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 ₹43,25,748.45p with interest against Sh. Bhupinder Singh (defendant).

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Bank’s case is that on 03.09.2013, it had granted a loan of ₹18.00 Lacs to defendant in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant had mortgaged his agricultural land and hypothecated stocks (fully detailed in para No.3A of the application). The loan was chargeable to interest @11.50% per annum with yearly rests. Defendant had duly acknowledged his liability towards the debt on 02.04.2016, 30.03.2019, 19.09.2020 and 28.07.2021. On 30.09.2023, a sum of ₹43,25,748.45p was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 02.02.2024, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 07.11.2024, he was proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Surender Kumar, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-25. 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 ₹18.00 Lacs and on 30.09.2023, a sum of ₹43,25,748.45p was due. 6. Accordingly, the application of the bank for the recovery of ₹43,25,748.45p (Rupees Forty Three Lacs Twenty Five Thousand Seven Hundred Forty Eight and Paise Forty Five Only) with interest @11.50% per annum with yearly rests from 20.11.2023, till the date of payment is hereby allowed with costs. Bank can recover its dues by the sale of mortgaged land and hypothecated stocks fully detailed in para No.3A of the application as well as from the personal movable and immovable property(ies) of the defendant. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Party is directed to appear before Recovery Officer on 08.06.2026, 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: 04.05.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Sh. Bhupinder Singh

Case brief

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Punjab National Bank v. Sh. Bhupinder Singh

Case brief

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