The DRT allowed the bank's application for recovery of dues of Rs. 54,72,323/- arising from a defaulted housing loan, issuing a recovery certificate and authorizing sale of mortgaged properties.
Recovery of Rs. 54,72,323/- with interest and liberty to recover by sale of mortgaged immovable properties.
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OA No.298/2022
18.02.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 18th day of February, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
ORIGINAL APPLICATION No. 298 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.
Mr. S. Seetharaman, (Borrower) S/o. Mr. Sundarapandian, No.85/44. TTK Road, Alwarpet, Teynampet, Chennai – 600 018.
….Applicant -Vs-
….Defendant
Counsels on record / appeared:
Counsel for Applicant : M/s. N. S. Revathi
Defendant set ex-parte on 12.12.2022
: - FINAL ORDER - :
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detailed in schedule A & B to the OA, and for costs of this application.
Brief Facts of the case:
Bank seeking for Housing Loan and submitted Loan Application on 20.07.2019.
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RACPC/RCPC/RASMECCC/Home Branch) executed on 31.07.2019 by the Defendant.
(vii) Deed of Undertaking executed on 31.07.2019 by the defendant herein.
(viii) Operations letter executed on 31.07.2019 by the defendant herein.
(ix) Memorandum of Deposit of Title Deeds has been executed on 07.08.2019, registered as Document No.9492/2019, on the file of SRO, Chengalpattu Joint II, by the Defendant herein.
(x) EM Confirmation Letter executed on 29.07.2022 by the Defendant herein.
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giving sufficient time, there was no appearance or representation from the defendant. Hence, defendant was placed ex-parte on 12.12.2022.
: O R D E R:
(a) The Applicant Bank is allowed to recover from Defendant a sum of Rs.54,72,323/- (Rupees Fifty Four Lakhs Seventy Two Thousand Three Hundred and Twenty Three Only) due in respect of Housing Loan (HL) facility (Loan Account No.38647997698) together with interest thereon @ 9.05% p.a., with monthly rests from the date of application till the date of realization in full;
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(b) In the event of failure of the defendant to pay the aforesaid amount, the bank is at liberty to recover the amount by sale of the schedule A&B mentioned immovable property morefully detailed in the OA;
(c) Schedule mentioned immovable property in the OA shall be appended to this final order;
(d) 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 paid by defendant to the applicant bank.
(e) The applicant bank shall file memo of costs within ten days from the date of this final order.
(f) Recovery Certificate shall be drawn up and issued to the Recovery Officer in terms of the final order.
Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI
(Dictated to Steno (Sudhakar), transcribed by him, corrected, signed and pronounced by me on this the 18th day of February, 2025)
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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 Application | A-1 |
| 2. | Sanction Letterdated24.07.2019 | A-2 |
| 3. | ArrangementLetterdated 31.07.2019 | A-3 |
| 4. | Memorandum of Loan Agreement for Home Loan granted to public executed by the defendant dated 31.07.2019 |
A-4 |
| 5. | Affidavit dated 31.07.2019 | A-5 |
| 6. | Agreement to Mortgage dated 31.07.2019 | A-6 |
| 7. | Memorandum of Deposit (Borrower‟s property at RACPC/RCPC/RASMECCC/Home Branch) dated 31.07.2019 |
A-7 |
| 8. | Deed ofUnder Taking dated 31.07.2019 | A-8 |
| 9. | Operations Letter dated 31.07.2019 | A-9 |
| 10. | „EM Confirmation Letter” executed by the defendant dated29.07.2022 |
A-10 |
| 11 | Memorandum Relating to Deposit of Title Deeds (9492/2019) dated 07.08.2019 |
A-11 |
| 12 | Construction Agreement (9490/2019) dated 05.07.2019 | A-12 |
| 13 | Sale Deed (9491/2019) dated 07.08.2019 | A-13 |
| 14 | Statement of Accounts for A/c. No. 38647997698 from 24.12.2020 to 06.08.2022 & Memorandum of calculation of interestforthe periodfrom 24.12.2020 to 06.08.2022 |
A-14 |
| 15 | BBECertificate | |
| 16 | SBI – AuthorizationOrder |
Witness Examined for the Defendant: -Nil-
List of Documents Exhibited for the Defendant: -Nil -
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SCHEDULE OF PROPERTY
SCHEDULE ‘A’
All that piece and parcel of Vacant Land measuring 13952 sq.ft., (Planning Permit and Building Plan Approval issued by the Maraimalai Nagar Municipality vide B.A. No. 213/2015 & D. Dis No. 2123/14/A1 dated 27.05.2015 & Approved by the Town Planning Authority, Chengalpattu vide Approval No. 3421/14 dated 10.10.2014) in Old Survey No. 526A/1C, as per Patta No. 2440 in New Survey No. 526A/1C2 of Thirukkatchur Village, Chengalpattu Taluk, Kancheepuram District and
Bounded on the
North By – S. No. 526A/1A1 part, 526A/13 to 16 part & Existing Road, South By – S. No. 526/A1D
East By - S. No. 526/12part and 526A/18 part & Existing Road, West By - S. No. 526/A/1C.
SCHEDULE ‘B’
441 sq.ft., Undivided share of land morefully described in the schedule “‟A‟‟ mentioned property Flat No. A-6, on the First Floor with Super-Built-Up Area of 1161 sq.ft., (inclusive of Common Area) together with One Car Parking allotted in the Ground Floor, Situated within the SRO Chengalpattu Joint II and Registration District of Chengalpattu.
Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI
1 provisions across 1 enactments
State Bank of India, R.A.C.P.C. Tambaram Branch
S.V. Gowramma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
