Allowed

State Bank of India v. Saravanan Mani

DRT12 Nov 2025OA/100/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's Original Application under Section 19 of the RDB Act for issuance of a Recovery Certificate against the defendant for a housing loan default of approximately Rs.7.01 crores.

What did the court decide?

Issuance of Recovery Certificate for Rs. 7,01,67,417 with 8% p.a. simple interest, executable against the schedule property and defendant's personal assets.

State Bank of India versus Saravanan Mani — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA AT BENGALURU

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Dated this 12^th Day of November, 2025

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Present: Sri. T. RAJESH Presiding Officer

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OA. No.100/2024

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BETWEEN:

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State Bank of India Stressed Assets Recovery Branch No.11/90, 3^rd Floor, Opposite to Trust Well Hospital, J C Road, Bengaluru – 560002 Rep. by its Chief Manager Sri. Nagendra N … APPLICANT

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AND:

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Sri. Saravanan Mani S/o. Sri. Mani M, R/at.No.32, Unity Line Ejipura Vivek Nagar, Bangalore - 560047 Also at: Flat No.501, 5^th Floor, Pristine Vara Apartments, Infantry road, Vasanthnagar, Bangalore – 560001 ...DEFENDANT

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Counsel on record/appeared for:

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Applicant : Smt. Malini Vinay Defendant : Exparte

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:FINAL ORDER:

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The present Original Application in short (OA) has been filed

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under section 19 of Recovery of Debts and Bankruptcy Act 1993 for

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seeking issuance of Recovery Certificate against the defendant for

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OA. No.100/2024

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Rs.7,01,67,417 (Rupees Seven Crore One Lakh Sixty Seven Thousand Four Hundred and Seventeen only) with further interest thereon from the date of filing the Application till realization from the Defendants.

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It is the case of the applicant that, the defendant availed housing loan of Rs.5,00,00,000/- along with home loan insurance cover of Rs.18,24,000/- on 20.11.2019.

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It is also the case of the applicant that, in view of the above financed credit facility, the defendant executed necessary loan documents apart from the creation of security interest by way of mortgage over the Schedule property.

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It is further contended that, despite availing the credit facility, agreeing to service the loan amount promptly and regularly, the defendant failed in complying the same, resulting in default in repayment and consequentially turning the loan account as NPA.

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In the above circumstances, the applicant approached this Tribunal by filing this OA seeking issuance of Recovery Certificate for the amount due in the account.

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OA. No.100/2024

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Despite, service of summons on the defendant, he failed to appear, resulting the defendant being set exparte on 01.04.2025.

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The applicant had let in evidence through AW-1, who filed their Proof Affidavit reiterating the contentions taken in the OA and also produced Exhibits A1 to A11 and got the same marked in evidence.

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Heard the Ld. Counsel for the Applicant and considered the contentions as taken in the OA in the light of documentary evidence and proof affidavit.

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The following issues arise for consideration in this matter:

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i) Whether the applicant had succeeded in proving the OA claim as against the defendant?

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ii) What order are to be passed?

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Both these issues are gone into and decided together.

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The case put forth by the applicant in the Application remains unrebutted as defendant remained exparte. The evidence

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tendered by the applicant remains uncontroverted and undisputed. The evidences put forth by the applicant were found admissible and are sufficient to prove availment of credit facility as stated in the OA, as to the execution of loan documents as

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OA. No.100/2024

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claimed by the applicant bank and the defaults committed in the

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accounts. The liability of the defendant and the claim of the amount due are also proved by the above documents. The claim of the applicant is well within the limitation.

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Hence in view of the above finding which cover both the

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issues raised in this manner, this Tribunal is of the view that OA is to be allowed.

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Taking into consideration the facts that the credit facility was availed for housing purpose and also that OA claim is arrived at by calculating interest at the agreed rate, this Tribunal in view

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of the OA can be allowed with a reduced interest of 8.00% (simple).

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In the result, OA.No.100/2024 stands allowed,

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i) The applicant is allowed to recovery an aggregate sum of Rs.7,01,67,417 (Rupees Seven Crore One Lakh Sixty Seven Thousand Four Hundred and Seventeen only) with further interest of 8.00% p.a.(simple) from the date of filing OA till the realization from the defendant, after giving credit to all the amount recovered and received during the pendency of the OA and allowed the same to be recovered by proceeding against the defendant personally and the assets of the defendant, including the schedule property

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OA. No.100/2024

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are liable for all such amounts due under the loan account. The schedule property to the OA be the schedule property to the Recovery Certificate.

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ii) If the sale proceeds are not found sufficient to cover

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the amount due and payable to the applicant bank, the defendant personally and his other assets are liable for all such amounts due under the loan account.

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^{iii) The applicant bank is allowed cost of the proceeding}

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which applicant to file cost memo within 7 days from the date of receipt of the order.

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iv) The Recovery Certificate to be drawn in terms of this

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order and transferred to Recovery for execution.

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v) Interim Application pending, if any, stands disposed of

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with this Final Order.

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Communicate a copy of the order to the parties concerned

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in terms of Section 19(21)(i) of the RDB Act, read with Rule 16 of

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DRT (Procedure) Rules, 1993.

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[Dictated to the Stenographer (PR), transcribed by her, corrected and signed and pronounced by me in the Open Court, this the 12^th Day of November 2025].

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Sd/-

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(T. RAJESH) PRESIDING OFFICER

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OA. No.100/2024

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ANNEXURES

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WITNESSES EXAMINED FOR THE APPLICANT BANK:

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AW-1: Mr. Nagraja V, Chief Manager of the applicant bank.

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Exhibits on the part of the Applicant:

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Annexure	Date	Particulars
A1	23.10.2019	Application form
A2	20.11.2019	Arrangement letter
A3	20.11.2019	Memorandum of loan agreement
A4	20.11.2019	Agreement to mortgage
A5	22.11.2019	Registered memorandum of deposit of title deeds
A6	31.08.2021	Application for restructure
A7	31.08.2021	Arrangement for restructure
A8 & A9	30.09.2023	Legal notice with original postal receipts
A10 & A11	--	Statement of account along with certificate

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PRESIDING OFFICER

State Bank of India v. Saravanan Mani

Case brief

What is this about?

What did the court decide?

State Bank of India v. Saravanan Mani

Case brief

What is this about?

What did the court decide?

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