ORDER
1. Union Bank Of India (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹28,30,087.23p with interest against Sh. Pritpal Singh and others (defendants).
2. Bank's case is that on 12.10.2017, it had granted a loan of ₹30.00Lacs to defendant nos. 1 and 2 in the form of C.M.O.R.T. Mortgage Loan for personal use. To secure the loan, Defendant nos.1 and 2 had mortgaged their property (fully detailed in para No.3A of the application). Defendant no.3 stood as the guarantor. The loan was
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chargeable to interest @11.70% per annum with monthly rests. On 31.01.2022, a sum of ₹28,30,087.23p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3. On 18.05.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 24.05.2023, they were proceeded ex parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Hemraj Singh, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-16.
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 ₹30.00Lacs and on 31.01.2022, a sum of ₹28,30,087.23p was due.
6. Accordingly, the application of the bank for the recovery of ₹28,30,087.23p (Rupees Twenty Eight Lacs Thirty Thousand Eighty Seven and Twenty Three Paise Only) with interest @11.70% per annum with monthly rests from 01.04.2022, 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 fully detailed in para No.3A of the application as well as from the 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 17.04.2026, who is directed to distribute the sale proceeds of the
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mortgaged property(ies) 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: 10.03.2026 Presiding Officer
DRT-1, Chandigarh
Amanpreet
(Law Researcher)