The Appellate Officer allowed the recovery petition filed by a bank for home loan dues. Unrebutted evidence established the claim within limitation, resulting in an order for recovery of principal, interest, and penalties against the defendant.
Recovery of Rs. 25,64,449/- with future interest at 7% p.a. from the defendant and realization of costs.
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.
BEFORE THE DEBTS RECOVERY TRIBUNAL –II AT CHENNAI
Dated this 26th day of March, 2024
PRESENT: SHRI T. RAJESH
PRESIDING OFFICER
OA No.194 of 2022
State Bank of India Stressed Assets Recovery Branch Rep. by its City Case Officer Red Cross Buildings, 2nd Floor No. 32, Montieth Road, Egmore, Chennai – 600 008 … Applicant
Versus
Mr. S. Natarajan S/o. Mr. Swaminathan No.256, Perumbakkam Salai Anaipirandan, Pandiyhapattu Post Thiruvannamalai – 606 603 …Defendant
Counsel for the Applicant Bank : M/s Shivakumar and Suresh Counsel for Defendants : Ex-parte
FINAL ORDER
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doing so resulting the account being classified as NPA on 31.3.2020. All the efforts of the Applicant to make the defendant pay back the amount failed forcing the Applicant to file this Application.
Both these issues are decided together.
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(b) Applicant is permitted to recover an amount of Rs. 25,64,449/- (Rupees Twenty Five Lakhs Sixty Four Thousand Four Hundred Forty Nine only) with future and pendente lite interest @ 7% simple P.A from the date of filing of the OA/TA till realization, after giving credit to all the amount recovered and received during the pendency of the OA/TA, from the defendant personally and also by proceedings against his assets including the schedule property.
(c) A Recovery Certificate is to be drawn and issued to the recovery Officer to enable recovery of the as per the above terms.
(d) Applicant is allowed to realize cost of the proceeding for which cost memo is to be filed in 7 days’ time from the date of receipt of the copy of the order.
(Dictated to PS, transcribed by him, corrected, signed and pronounced by me in the Open court, this the 26th day of March, 2024)
Sd/- (T.RAJESH)
PRESIDING OFFICER DRT-II, CHENNAI
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2 issues framed by the court
Whether the applicant had proved the OA claim?
What orders are to be passed?
2 provisions across 1 enactments
State Bank of India Stressed Assets Recovery Branch
T. Rajesh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
