PUNJAB NATIONAL BANK vs SIMRANJEET SINGH on 19 August 2026

ORDER

1. On 08.11.2021, Punjab National Bank, filed the suit for the recovery of ₹24,23,547.25p with interest against Simranjeet Singh and another (defendants) in the Court of Ld. Additional District Judge (Commercial Court), Jammu. However, vide order dated 10.04.2023, Additional District Judge, (Commercial Court), Jammu, transferred this suit to DRT-I, Chandigarh.

2. Bank’s case is that on 19.04.2016, it had granted Term Loan of ₹20.00 Lacs to defendant No.1 for Vehicle purpose. To secure the loan, Defendant No.1 had hypothecated vehicle Eicher 3516 (fully detailed in Deed of Hypothecation {Annexure -D} of the application). Defendant No.2 stood as guarantor. The loan was chargeable to interest @12.75% per annum with monthly rests. At the time of filing of this suit, a sum of

₹24,23,547.25p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, the suit.

3. The, Civil Court, sent summonses to the defendants by registered post, which were duly served. After transfer of this suit/application, summonses were sent to the defendants which were duly served. However, they did not put in appearance. Vide order dated 14.10.2025, 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 Manager, along with the original loan and 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 the loan of ₹20.00 Lacs and at the time of filing of this suit/application, a sum of ₹24,23,547.25p was due.

6. Accordingly, the case of the bank for the recovery of ₹24,23,547.25p (Rupees Twenty Four Lacs Twenty Three Thousand Five Hundred Forty Seven and Paise Twenty Five Only) with interest @12.75% per annum with monthly rests from 08.11.2021, till the date of payment is hereby allowed with costs. The liability of both the defendants would be joint and several. Bank can recover its dues by the sale of hypothecated vehicle fully detailed in Deed of Hypothecation (Annexure-D) 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 21.09.2026.

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: 19.08.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA