The DRT allowed the bank's Original Application under Section 19 of the RDB Act for recovery of Rs. 46,43,911/- along with costs and interest, as the defendant was absent and defaulted on home loan repayments.
Recovery of Rs. 46,43,911/- plus interest and costs directed; order to sell mortgaged property; issuance of Recovery Certificate.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERYTRIBUNAL - I, KARNATAKA
AT BENGALURU
Dated this the 15tr day of Novemb er,2023
PTESCNt: SRI IMTIAZ ALI
Hon'ble Presiding 0fficer
oA439/2022
BETWEEN:
STATE BANK OF INDIA Branches Interalia at MSMEC Hosur Branch
At Sri Vaari Building, Pht No.2,
SIPCOT Industial estate
Phase-1, Ztrzuvadi,
HOSUR - 635 t26
Represented by ib Manager Sri P. Muralikanthan
.. APPLICANT
AND:
SRI MANJUNATHAS.
Aged about 38 years
S/o. Sri Dasigowda Shivanna R/at No.24, K.No.1264 Near Old Post Office Road, Ramamurthy Nagar Ashwini Nursing Home, Bengaluru North BENGALURU. 560 016
.. DEFENDANT
Counsel on record/anpeared for:
Applicant : Smt. Vachana G.K. Defendant : Ex-parte
FINAL ORDER
The present OA has been fihd by the Applicant Bank under
V_
OA.No.439/2022
Section 19of the Recoveryof Debband BankruptcyAct' 1993' seekingrecovery of money of Rs'46'43'911/-[Rupees forty six Iakhs forty threethousand nine hundred and eleven only) togetherwith cosb, interest,etc.
I
OA.No.439/2022
\
OA.No.439/2022
(Rupees fortysix lakhs forty three thousand nine hundred and ehven only ).
B. Toprovethe case of the Applicant Bank' its Manager'Sri P' Muralikanthanhas filed his affidavit by way of evidence and same was consideredas evidenceof AW'1 and markedat Ex'A1 and List of Documentscame to be marked at Ex'A2and 9 documents came to be markedat Ex.A3 to 11'
g. No evidenceon behalfoftheDefendant'
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OA.No.439/2022
REASONS
ORDER
Present OA stands allowed as prayed for with interest and
costs.
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OA.No.439/2022
Defendantto PaYthe saidOA In the eventof failureof the amount, theAPPIicantBank is at liberty to sellthe Schedule with Iaw assoughtbY the MortgagedProPertYin accordance ApplicantBank in the OA'
In spite ofsaleofthe Schedule MortgagedProperty' ifthe OA amountis not fully realised, then the ApplicantBankis at libertyto proceed againstthe person and other property of the Defendantas required underlaw and alsoas advised'
ApplicantBank shall file latestMemoof Calculationof OA amount togetherwith interest,costs etc', to be paid by Defendant duly takinginto accountthe amount/s, if any'paid by the Defendant and/or amountrealised by sale of assets' etc'' during the interveningperiod after filing theOA, to enable the office to prepare Recovery Certificatefor the amountto be paid by the Defendant to the ApPlicantBank.
Office is directedto issue Recovery Certificate as sought by the ApplicantBankin the OA and do the needfulas required under the law forthwith.
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OA.No.439/2022
The Office is directed to issue, as far as possible, free copy of
this order to the parties concerned.
(Dictated to the Stenographer, after its transcriptiorI and necessary corrections, signed and pronounced by me in the 0pen Court on this the 15th day of November, 2023)
trurknrrr Presidingi Officer DRT-1, Bengalur
ANNEXURES
Witnesseq examined. for the Applicant Bank AW-1 : Sri P.Muralikanthan, the Manager of Applicant Bank
Documents marked on behalf of the Applicant: Ex.A.1: : Affidavit Evidence of AW1 Ex.A2: : List of witnesses
Ex.A3 to A11 : 9 documents.
Witness Exar4ined for the Defendant:
List of Documents Exhibited for the Defendant:
NiI-
\ 'n") 1rr' (IMTIAY ALI) Presiding Officer DRT-1, Bengaluru
n
1 issue framed by the court
Whether the applicant bank proved its case to allow the Original Application for recovery of money?
1 provisions across 1 enactments
State Bank of India Branches Interalia at MSMEC Hosur Branch
Sri Manjunathas
Imtiaz Ali
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
