Decimal Transfer Application filed for recovery of housing loan. The Tribunal found the claim unrebutted and admissible. Partial satisfaction occurred during pendency. Application allowed with future interest.
Recovery of Rs.33,41,570/- plus future interest at 9% p.a.; Recovery Certificate issued.
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 DEBT RECOVERY TRIBUNAL –II CHENNAI Dated this 29th day of December, 2023
PRESENT: SHRI T.RAJESH PRESIDING OFFICER
T.A.No.231 of 2022 (Old OA.No.181/2020–DRT-I, Chennai)
Union Bank of India,
Rep. by its Manager, Mrs. R.Parvathy, Vadapalani Branch, No.14, Arcot Road, Vadapalani, Chennai - 600 026. IFSC Code : UBIN053310. … Applicant.
Vs.
Also at
Mr.Yaswanth Prabala, S/o. P.Krishnamurthy, Old No.28, New No. 49A/250, HIG Housing Unit, Coonoor, The Nilgiris, Coonoor - 643 101.
1
Also at Mr.P.Krishnamurthy, Old No.28, New No.49A/250, HIG Housing Unit, Coonoor, The Nilgiris, Coonoor - 643 101. … Defendants. Counsel for Applicant : M/s.S.Parthasarathy. Counsel for Defendants : M/s.K.Moorthy.
ORDER
of Debt and Bankruptcy Act seeking recovery of Rs.33,41,570/- with further interest from the date of filing of the TA and by allowing the same to be recovered from the defendants jointly and severally and also by sale of the schedule mentioned property.
2
The defendants approached the applicant bank for a Housing loan for Rs.34,97,000/- and got availed the same from the applicant whereas 1st defendant stood as the borrower and 2nd defendant stood as the guarantor.
3
caused to issue a legal notice requiring repayment of the amount due in the account.
4
Both these issues are gone into and decided together.
5
Thousand Five Hundred Seventy only) with future and pendentelite interest @ 9% p.a. (simple) from the date of filing of the TA till realization from the defendants and their assets after giving credit to all the amount recovered and received during the pendency of the TA including the part satisfaction of Rs.30,00,000/- recorded on 04.07.2023.
iii) A Recovery Certificate is to be drawn and issued to the recovery officer to enable recovery of the amount as per the above terms.
iv) Applicant is allowed to realize cost of the proceedings for which cost memo is to be filed in 7 days’ time from the date of receipt of the copy of the order.
Section 19(21)(i) of the RDB Act, read with Rule 16 of DRT (Procedure) Rules, 1993.
(Dictated to PA, transcribed by him, corrected, signed and pronounced by me in the Open Court, this 29th day of December, 2023)
Sd./- (T. RAJESH) PRESIDING OFFICER DRT-II, CHENNAI
6
2 issues framed by the court
Whether the applicant had succeeded in proving the transfer application claim?
What orders are to be passed regarding recovery of the outstanding amount?
2 provisions across 1 enactments
Union Bank of India
Mr.Yaswanth Prabala
Mr.P.Krishnamurthy
T. RAJESH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
