Debts Recovery Tribunals and Appellate Tribunals
PUNJAB NATIONAL BANK vs M/S G.B CONTRACTOR on 9 June 2026
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
TA No: 178/2024
Date of Institution: 30.12.2021
Date of Decision: 09.06.2026
Punjab National Bank, a Branch at Last Morh, Gandhi Nagar, (Jyoti Public High School), Jammu.
……..Applicant
Vs.
1.
M/s G. B Contractor Through its Prop Gurdyal Bhagat164, Dhoke Jagir, Akhnoor, Jammu J&K UT.
2.
Sh Gurdyal Bhagar S/o Sh Babu Ram R/o 164, Dhoke Jagir, Akhnoor, Jammu J&K UT.
……….Defendants
Advocates
Sh. Anirudh Gupta, Counsel for the applicant bank.
Defendants - ex parte.
TA for the Recovery of Rs.38,06,589.25p with interest @12.40% per annum with monthly rests from 30.12.2021.
Citations and Judicial Treatment
Cited by
0
Decisions in the index citing it
Cites
0
Decisions referred to
In this index
0
Of the decisions it cites
Overruled / Questioned
0
No negative treatment found
Loading the citing and cited decisions…
This judgment in the centre: on the left the decisions it cites, on the right the decisions citing it. Colour is the treatment; choose a decision to open it.
ORDER
1. On 30.12.2021, Punjab National Bank filed the suit for the recovery of Rs.38,06,589.25p with interest against M/s G. B Contractor and others (defendants) in the Court of Ld. Principal District Judge, Jammu. However, vide order dated 14.02.2023, this suit was transferred by the Court of Additional District Judge, Jammu, to DRT-1, Chandigarh.
2. Bank’s case is that on 22.03.2016, erstwhile United Bank of India had granted a CC Limit of Rs.25.00 Lacs to defendant No.1 through defendant No.2 for business purpose. To secure the loan, Defendant No.2 had mortgaged his land (Annexure – G). The loan was chargeable to interest @12.40% per annum with monthly rests. Defendants failed to make the repayment and the Bank declared the account N.P.A. and issued Demant Notices dated 05.05.2018 and 14.06.2018 (Annexure - I). On 01.12.2021, a sum of
2 Rs.38,06,589.25p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this suit.
3. On 07.02.2025, this Tribunal sent summonses to the defendants by registered post, which were duly served. However, the defendants did not put in appearance. Vide order dated 08.08.2025, they were proceeded ex parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Hans Raj, Senior Branch Manager along with the loan and original security documents.
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 a loan of Rs.25.00 Lacs and on 01.12.2021, a sum of Rs.38,06,589.25p was due.
6. Accordingly, the application of the bank for the recovery of Rs.38,06,589.25p (Rupees Thirty Eight Lacs Six Thousand Five Hundred Eighty Nine and Paise Twenty Five Only) with interest @12.40% per annum with monthly rests from 30.12.2021, till the date of payment is hereby allowed with costs. Bank can recover its dues by the sale of mortgaged land 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 10.07.2026, who is directed to distribute the sale proceeds of the mortgaged property 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: 09.06.2026 Presiding Officer DRT-1, Chandigarh HARSH