DRT allowed SSA's Original Application for recovery of Rs.45.35 million plus interest against Defendant for defaulted home loan secured by mortgage of property. Defendant appeared ex-parte.
Recovery of Rs.45,35,493/- with interest @ 11.35% p.a. and penal interest; liberty to sell mortgaged and personal assets for balance dues; issuance of Recovery Certificate.
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.
OA No.287/2022
11.03.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 11th day of March, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
ORIGINAL APPLICATION No. 287 of 2022
State Bank of India R.A.C.P.C., Tambaram Branch Rep. by its Chief Manager No.388, Satheesh Paradise, Velachery Main Road, Selaiyur, Chennai – 600 073
….Applicant
-Vs-
Mr. M. Manikandan S/o. Mr. Manivelu No.HIG, 6/12, 3rd Floor, TNHB Behind Prathiyangara Temple, Sholinganallur, Chennai – 600 119
….Defendant
Counsels on record / appeared:
Counsel for Applicant : M/s. N. S. Revathi
Defendant was set ex-parte on 01.12.2022
: - FINAL ORDER - :
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morefully detailed in schedule to the OA, and for costs of this application.
Brief Facts of the case:
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(vi) Operations Letter executed by the Defendant
(vii) Deed of Undertaking executed by the Defendant
(viii) The defendant has undertaken to repay the loan amount together with interest, as per the terms and conditions of the ‘Arrangement Letter’.
(ix) Memorandum of Deposit of Title Deeds executed on 20.03.2019, Registered as Document No.3395/I/2019, on the file of SRO, Selaiyur, by the Defendant.
(x) EM Confirmation letter executed by the Defendant on 29.03.2022.
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guidelines. Hence, this Original Application (OA) has been filed to recover the dues from the defendant.
Heard the submissions of Applicant Bank and perused the records.
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: O R D E R:
(a) The applicant bank is allowed to recover from Defendant a sum of Rs.45,35,493/- (Rupees Forty Five Lakhs Thirty Five Thousand Four Hundred and Ninety Three Only) due in respect of Housing Loan facility (Loan A/c No.38335188117) together with interest thereon @ 11.35% p.a., with monthly rests on compound basis and penal interest of 2% per annum from the date of Application till the date of realization in full and for costs of this application;
(c) Schedule mentioned immovable property in the OA shall be appended to this final order;
(d) If the sale proceeds of the schedule mentioned mortgaged properties are not sufficient to satisfy the dues as ordered above, the applicant bank is at liberty to sell the personal assets of the Defendant (both movable and immovable) to recover the balance dues as required under law;
(e) The applicant bank shall file the latest memo of calculation of OA amount together with interest, costs etc., to be paid by the defendant duly considering the amounts, if any, paid by the defendant and/or amount realized by sale of assets etc., during the intervening period after the filing of the OA, enabling the Registry to prepare Recovery Certificate for the amount to be
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paid by defendant to the applicant bank.
Officer in terms of the final order.
Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI
ANNEXURE
WITNESSES EXAMINED FOR THE APPLICANT BANK :
AW-1: Shri. P.M. Ravichandran, Chief Manager of the Applicant Bank.
Exhibits on the part of the Applicant:
| **Sl. No. ** | Description of Documents | **Exhibit No. ** | |
|---|---|---|---|
| 1. | Loan Applicationdated26.02.2019 | A-1 | |
| 2. | Sanction Letter dated 15.03.2019 | A-2 | |
| 3. | ArrangementLetterdated19.03.2019 | A-3 | |
| 4. | Memorandum of Loan Agreement for Home granted to public executed by the defendant 19.03.2019 |
Loan dated |
A-4 |
| 5. | Affidavit dated19.03.2019 | A-5 | |
| 6. | Agreement toMortgage dated19.03.2019 | A-6 | |
| 7. | Memorandum of Deposit (Borrower’s proper RACPC/RCPC/RASMECCC/Home Branch) 19.03.2019 |
ty at dated |
A-7 |
| 8. | OperationsLetterdated19.03.2019 | A-8 | |
| 9. | Deed ofUndertaking dated19.03.2019 | A-9 |
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| 10. | Memorandum relating to Deposit of Title Deeds dated 20.03.2019 |
A-10 |
|---|---|---|
| 11. | EMconfirmation letterdated29.03.2022 | A-11 |
| 12. | SaleAgreement dated26.01.2019 | A-12 |
| 13. | Construction Agreement dated26.01.2019 | A-13 |
| 14. | SaleDeed (3394/I/2019) dated20.03.2019 | A-14 |
| 15. | Statement of Accounts for the period from 19.03.2019 to 14.07.2022 and Memorandum of calculation of interest for the period from 14.10.2020 to 14.07.2022 (dated 14.07.2022) |
A-15 |
Witness Examined for the Defendant: -Nil-
List of Documents Exhibited for the Defendant: -Nil –
:-SCHEDULE OF PROPERTY-:
SCHEDULE “A”
All that piece and parcel of vacant house site bearing Plot No.A1, measuring an extent of 2764 Sq.ft., & Plot No.A2, measuring 2468 Sq.ft., in total measuring 5232 Sq.ft., (12 Cents), (This Sub-division Plan approved by Executive Officer Sembakkam town Panchayat, vide Sub-Division No.5/2013-14, D.Dis. No.702/2012, dated 22.04.2013, planning permit No.102/2013), comprised in Survey No.64/2 Part, Patta No.839, as per Patta in New Survey No.64/2C, situated at Gowrivakkam Village, Tellus Avenue, Tambaram Taluk, Kancheepuram District, situated within the SRO Selaiyur and Registration District of Chennai South.
Land Bounded on the:
| North by | ; | Survey No.64/2 Part, |
|---|---|---|
| South by | : | Survey No.64/1 Part, |
| East by | : | 24 feet wide road |
| West by | : | Survey No.64/1 Part, |
And situated within the Registration District of Chennai South, and in the SubRegistration District of Selaiyur.
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SCHEDULE “B”
313 Sq.ft., of UDS land out of 5232 Sq.ft., (12 cents), bearing Flat No.F1 in First Floor with super built up area measuring about 625 Sq.ft., in Plot No.A1 & Plot No.A2, Comprised in Survey No.64/2 part, Patta No.839, as per Patta in New Survey No.64/2C, situated at Gowrivakkam Village, Tellus Avenue, Tambaram Taluk, Kancheepuram District, situated within the SRO, Selaiyur and Registration District of Chennai South.
Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI
2 issues framed by the court
Whether the Tribunal has jurisdiction under Section 19 RDB Act to entertain an application for recovery of dues against Defendant.
Whether the claim advanced by Applicant Bank is admissible in the light of unchallenged defendant presence.
2 provisions across 1 enactments
State Bank of India R.A.C.P.C., Tambaram Branch
Mr. M. Manikandan
S.V. Gowramma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
