The Debts Recovery Tribunal allowed the Objectionable Application filed by the State Bank of India for issuance of a Recovery Certificate. The court found evidence un-rebutted and directed recovery of principal, interest, and costs.
Issuance of Recovery Certificate for Rs. 39,61,348 with 7% p.a. simple interest; permission to recover 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 27th day of March, 2024
PRESENT: SHRI T. RAJESH
PRESIDING OFFICER
OA No.99 of 2023
State Bank o India Stressed Assets Recovery Branch, Red Cross Buildings, 2nd Floor No.32, Montieth Road, Egmore, Chennai-8 Rep. by its Senior Manager ….Applicant
Versus
Mr. P Dhanendran S/o. Mr. Paneerselvam Door No.11, 8th street, Thendral Nagar East Thirumullaivoyil, Chennai – 600 062 …Defendant
Counsel for the Applicant Bank : M/s Suresh Law Associates Counsel for Defendants : M/s G. Pramila and T. Janaki
FINAL ORDER
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same resulting the account being classified as NPA on 12.10.2019. All the efforts of the Applicant to make the defendants pay back the amount including the issuance of a demand notice dated 14.10.2019 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. 39, 61,348/(Rupees Thirty Nine Lakhs Sixty One Thousand Three Hundred Forty Eight only) with future and pendente lite interest @ 7% (simple) PA from the date of filing of the OA/TA till realization from the defendants jointly, severally and pesonall and also by sale of their assets including sale of the scheduled mentioned property and after giving credit to all the amount recovered and received during the pendency of the OA/TA.
(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 27th 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?
1 provisions across 1 enactments
State Bank of India Stressed Assets Recovery Branch
Mr. P Dhanendran
T. RAJESH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
