IN THE DEBTS RECOVERY TRIBUNAL-II, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 3027/2017
Date of Institution: 04.11.2016 Date of Decision: 22.01.2025
Axis Bank Limited at Basdhara, District Karnal, Haryana
……..Applicant
Vs.
1. Sh. Maluk Singh S/o Sh. Hukam Singh, r/o Village Gitalpur, Tehsil Nigdu, District, Karnal, Haryana
2. Sh. Dharam Singh S/o Sh. Hardev Singh, r/o Village Gitalpur, Tehsil Nigdu, District Karnal, Haryana
…….Defendants Advocates
Sh. Sumit Sehgal proxy Counsel for J.S. Sehgal, for the applicant bank Defendants-ex parte
OA for the Recovery of Rs.28,73,579/- with interest @11.85% per annum with half yearly rests from
04.11.2016.
ORDER
1. Axis Bank Limited (Applicant Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.28,73,579/- with interest against Sh. Maluk Singh and Another (defendants).
2. Bank's case is that on 06.02.2013, it had granted a loan of Rs.19,00,000/- to the defendants in the form of KCC for agricultural purpose. To secure the loan, defendant No. 1 had mortgaged his agricultural property total measuring 107 Kanal 1 Marla (fully detailed in para No.5(v) of the application). The loan was chargeable to interest @12% per annum with half yearly rests. On 31.10.2016, a sum of Rs.28,73,579/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3. On 03.06.2017, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 15.11.2023, they were proceeded ex parte.
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4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Arvinderjeet Singh, Area Manager Legal 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.19,00,000/- and on 31.10.2016, a sum of Rs.28,73,579/- was due.
6. Accordingly, the application of the bank for the recovery of Rs.28,73,579/- (Rupees Twenty Eight Lakh Seventy Three Thousand Five Hundred and Seventy Nine Only) with interest @11.85% per annum with half yearly rests from 04.11.2016, 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 property(ies) fully detailed in para No.5(v) of the application as well as from the hypothecated/personal movable and immovable property(ies) of the defendants.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on 13.03.2025, who is directed to distribute the sale proceeds of the mortgage 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: 22.01.2025 Presiding Officer DRT-2, Chandigarh
(Additional charge)
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