Allowed

State Bank of India v. Smt. Salomy Thomas

DRT9 Oct 2023OA/582/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Application by State Bank of India to recover dues of approximately Rs. 44.57 lakh from the Defendant, based on the bank's evidence of a defaulted home loan and the Respondent's ex-parte absence.

What did the court decide?

Allowed OA for recovery of Rs. 44,57,727/-; Office to issue Recovery Certificate; Applicant at liberty to sell mortgaged property or proceed against other assets.

State Bank of India versus Smt. Salomy Thomas — Specific Performance | DRT (2023)

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IN THE DEBTS RECOVERYTRIBUNAT^- I, KARNATAKA

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AT BENGALURU

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Dated this the 09s day of Octobe4 2023

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Present SRI IMTIAZALI

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. 5L t. Presiding Officer

oAs82/2022

BETWEEN:

STATE BANK OF INDIA

Branches interalia at RASMEC

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Hosur Branch

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At Sri Vaari BuiHing, Plot No.2, SIPCOT industrial estate

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Phase-1, Zrtzrlluadi,

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HOSUR - 635126 (Represented by ib Manager Sri P. Muralikanthan

.. APPLICANT

AND:

SMT. SALOMYTHOMAS

Aged about 45 years

D/o D. Raju

R/at No.151,5s Main, Hacenda Club Road Near More Super Market Malleshpalya BENGALURU - 560 075 Counsel on record/appeared for:

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.. DEFENDANT

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Applicant : SMT. Vachana G.K. Defendant i Ex-parte

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FINAL ORDER

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The present OA has been filed by the Applicant Bank under Section 19 of the Recovery of Debs and Bankruptcy Act, 1993, seeking recovery of money of Rs.44,57,727/-^(Rupees Forty Four

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oA.No.582l2O22

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lakhs Fifty Seven Thousand One Hundred Twenty Seven only) together with cosb, interest, etc.

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The case of the Applicant Bank is that, the Defendant has made an application on 02.07.201.8 before the Applicant for sanction of Home Loan for purchase of Flat. Accordingly, the Applicant has sanctioned the said Home Loan Facility of Rs.40,00,000/- in favour of the Defendant as per Sanction Letter Dated 03.07.2018 and Arrangement Letter Dated 04.07.2018. ln order to secure the ban, the Defendant has executed documenb viz., Memorandum of Loan Agreement for Home Loan, Sah Deed and Memorandum relating to Deposit of title deeds etc.

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Furthet, the Applicant Bank submitted that, the Defendant has agreed to repay the Home Loan of Rs.40,00,000/- in Equated Monthly Installment of Rs.32,480/- each together with interest thereon @ 8.60/o per annum with monthly resb revised by the Bank from time to time.

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Furthe4, the Defendant has agreed to repay the Home Loan with variable rate of interest, as applicable from time to time as per the directions of the Head Office / Central Office of the Applicant

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OA.No.582/2022

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Bank and penal interest in case of default and keep the accounB reguhr by payrng installrnenb as and when due to the satisfaction of the Applicant Bank, as detailed in the OA by the Applicant Bank.

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The Defendant after utilizing the said loan amount she has failed and defaulted in making paymenB as and when due to the Applicant. Furthel the Defendant has neither responded nor attempted to clear the oubtanding amount in spite of repeated requesB and demands made by the Applicant. Accordingly, the loan account of Defendant has been dechred as NPA by the Applicant on 03.05.2027 as per the RBI guidelines. Thereaftec the Applicant Bank has initiated SARFAESI proceedings under SARFAESI Act., but the Defendant has failed to pay the oubtanding dues and hence the recovery process is initiated to recover the dues.

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In the light ofthese factors, it is contended by the Applicant Bank that Defendant is liabh to pay a total sum of k.44,57,127/(Rupees Forty Four lakhs Fifty Seven Thousand One Hundred Twenty Seven onlyJ.

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After filing this OA, Summons was sent and served to the Defendant through RPAD. When the Defendant was called out, the

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OA.No.s8212022

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Defendant remained absent^{and hence placedex parte.}

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To prove the case of the Applicant^{Bank, its Manager, Sri P'} Muralikanthan has filed his affidavit^{by way of evidence and same} was considered as evidence of^{AW.1 and marked at Ex.A1 and List of}

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Documents came to be marked^{at Ex.A2 and B documents came to} be marked at Ex.A3 to 10.

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No evidence on behalfofthe^Defendant.

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ArgumenB of Learned Counsel^for the^Plaintiff /^Applicant

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Bank heard and perused the records^ofthecase.

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Following poinb arise for my consideration:

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Whether Plaintiff / Applicant Bank^{provesiB case} as contended in the^plaint / application?

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What Order?

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Lt. For the folbwing reasons, I answer the above-referred points in the folbwing manner:

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REASONS

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The Manager of the Applicant Bank came to be^examinedas

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\ I AW.1. His affidavit by way of evidence reiterated the^{facts pleaded} c

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OA.No.582/2022

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in the plaint and his affidavit is also corroborated by the abovereferred Ex.A3 to A10 which clearly establish the case of the Applicant Bank to allow the present OA. Added to this, the Defendant has remained absent and hence placed ex^parte. Therefore, it is to be construed that Defendant has admitted the entire case pleaded by the Applicant Bank in the^present OA.

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Therefore, for these reasons, present OA is to be allowed with costs as sought by the Applicant Bank.

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ORDER

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Present OA stands allowed as^prayed for with interest and

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costs.

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In the event of failure of the Defendant to pay the said OA amount, the Applicant Bank is at liberty to sell the Mortgaged Property in accordance with law as sought by the Applicant Bank in the OA.

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In spite of sale of the Mortgaged Property, if the OA amount is not fully realised, then the Applicant Bank is at liberty to^proceed against the person and other^property ofthe Defendant as required under law and also as advised.

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OA.No.582/2022

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Applicant Bank shall file^{latestMemoof Calculationof OA} amount together with^{interest,costs etc., to be paid by Defendant} duly taking into account^{the amount/s, if any,paid by the Defendant} and/or amount realised by^{sale of assets, etc., during the} intervening^period after^{filingthe OA,to enable the office to prepare} Recovery Certificate^{for the amountto be paid by the Defendant to} the Applicant Bank.

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Office is directed to^{issue RecoveryCertificate as sought by} the Applicant Bank^{in the OA and do the needfulas required under} the law forthwith.

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The Office is directed^{to issue, as far as possible, free copy of}

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this order to the^{parties concerned.}

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(Dictated to the Stenographer, after^{its transcriptionand necessarycorrections,signedand} pronounced by me in the Open Court on this^{the 9thdayof 0otober,20e3)}

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(IMTIAEALI) Presiding Officer DRT-1, Bengaluru

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oA.No.s82/2022

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ANNEXURES

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Witnesses examined for the Applicant^Bank AW-1 : Sri P.Muralikanthan, the

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Manager of Applicant Bank

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Documents marked on behalf of^{the Apolicant:} Ex.A.l: :Affidavit Evidence of AWL Ex.A2: : List of witnesses

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Ex.A3 to A10 : 8 documents.

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Witness Examined for the^Defendant:

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Nil^-

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List of Documents Exhibited^{for the Defendant:}

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Nil^-

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*' ; 'o (trurmzhtt) Presiding Officer DRT-1, Bengaluru

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State Bank of India v. Smt. Salomy Thomas

Case brief

What is this about?

What did the court decide?

State Bank of India v. Smt. Salomy Thomas

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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