Allowed

M/s Deutsche Bank Ag v. M/s. Real Tech Power Controls

DRT13 Nov 2025OA/301/2023

Case brief

AI extract

What is this about?

In an original application for recovery of dues, the Debt Recovery Tribunal allowed an application filed by a bank against three defendants for an unsecured business installment loan. The court confirmed the claim based on unchallenged proof of accounts and issued a recovery certificate for the principal, penal interest, and costs.

What did the court decide?

Recovery certificate issued to realize aggregate sum of Rs. 24,17,933.92 plus 8% simple interest and costs; defendants held jointly and severally liable.

M/s Deutsche Bank Ag versus M/s. Real Tech Power… — Contract and Commercial Disputes | DRT (2025)

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BEFORE THE DEBTS RECOVERY TRIBUNAL –II AT CHENNAI

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Dated this 13^th day of November, 2025

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PRESENT: SHRI SHARANG DHAR UPADHYAY PRESIDING OFFICER

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OA No.301 of 2023

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M/s Deutsche Bank AG Presently having business at 4-4A, Western Tower, Sunny Side Ground Floor, Shafi Mohammed Road Thousand Lights, Chennai – 600 006 Represented by its Authorised Representative Mr. Trivikram Kambam

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…Applicant

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Versus

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M/s Real Tech Power Controls Represented by its Proprietor

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S. Ramesh

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No.46, Old Door No.10, Balammal Nagar Main Road Ullagaram, Chennai – 600 091

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Also at

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No.31, Balammal Nagar Main Road Ullagaram, Chennai – 600 091

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Also at

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45B, No.7, Balammal Nagar Main Road Ullagaram, Behind Sri Krishna Sweets Chennai – 600 091

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Mr. Muthumari Ramesh No.112, 11^th Street, Anna Nagar Madipakkam, Chennai – 600 091

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Mr. S. Ramesh No.112, R M Roya Residency 11^th Street, Anna Nagar, Madipakkam Chennai – 600 091

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... Defendants

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Counsels on Record / Appeared

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Counsel for Applicant Bank : M/s Sai Krishnan Associates Defendants ex-parte on 30.01.2024

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FINAL ORDER

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This application is filed by the applicant bank under Section 19(1) of Recovery of Debts and Bankruptcy Act, 1993 against the defendants seeking issuance of a Recovery Certificate for recovery of an aggregate sum of Rs.24,17,933.92p comprising a sum of Rs.20,30,753.25p together with interest at the rate of 19% per annum being the amount due under Loan Account No.350037083770019; a sum of Rs.3,87,180.67p together with interest at the rate of 8.10% per annum being the amount due under Loan Account No.320037083770019 from the date of the application till the date of realisation along with costs of the application.

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The subject matter of the case is the Unsecured Business Installment Loan availed by the defendants from the Applicant Bank.

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It is the case of the applicant that the defendants approached the applicant bank for grant of unsecured business installment loan by submitting Loan Application dated 11.01.2019. Considering the said request the applicant vide its sanction letter dated 21.01.2019 sanctioned a loan of Rs.25,00,000/- under Loan Account No.350037083770019 repayable in 36 equated monthly installments of Rs.91,640/- commencing from 05.02.2019

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till 05.01.2022. The defendants executed the loan and security documents on 21.01.2019.

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It is also the case of the applicant that the defendants were highly irregular in repayments. However, in view of COVID-19 pandemic and the Government of India recommending Emergency Credit Line Guaranteed Scheme by way of Working Capital to eligible business entities the defendants by loan application dated 7.10.2020 approach the applicant bank and the applicant considering the said request sanctioned a loan of Rs.3,46,000/- under Loan Account No.320037083770019 repayable in 48 equated monthly installments of Rs.10,859/- commencing from 05.11.2020 to 05.10.2024. The defendants executed Loan agreement on 07.10.2020.

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It is the case of the applicant that having availed the loan the defendants defaulted in repayment and failed to regularize the loan account despite repeated request and hence the applicant issued a legal notice dated 30.09.2022, however the said notices returned unserved with remarks “Left”. Despite the said notice the defendants did not come forward to clear the dues. Hence the applicant is filing this OA for recovery of its dues.

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Summons was taken out to the defendants returned unserved and hence were with notice by way of substituted service by causing paper

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publication. As there was no representation on behalf of the defendants continuously and on 30.01.2024, the defendants were called absent and placed ex-parte on that day. Applicant Bank filed Proof Affidavit along with 12 documents, which were marked as Ex. A-1 to A-12 on 25.04.2024. The Ld. Counsel for Applicant Bank made his submissions on 18.09.2025 and thereafter the matter stood till this date for passing final orders.

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The following issues arise for consideration in the matter: -

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(a) Whether the applicant had succeeded in proving the liability of the defendants?

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(b) What order as to cost of the proceedings need be passed?

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These issues are considered together.

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Heard the Ld. Counsel for the applicant, perused the OA averments and the record placed before the Tribunal.

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The evidence of the applicant is led by AW1 who produced the documents Exhibit A-1 to A-12 along with the proof affidavit. The documents produced in evidence are all found admissible. The proof affidavit of the applicant bank remained unchallenged and unrebutted. Therefore, on careful consideration of proof affidavit along with exhibits filed on behalf of the applicant bank, besides the material placed before the Tribunal, the

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Tribunal is satisfied that the applicant bank has successfully proved the OA claim against the defendants. Further, the statement of accounts in respect of the loan account produced and certified under the Banker’s Book Evidence Act, clearly indicates that the amount claimed by the applicant is due from the defendants. It is clear from the statement of accounts that penal interest is not capitalized.

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In view of the foregoing, it is clearly evident that the application filed by the applicant bank is well within the period of limitation and this Tribunal possesses the territorial and pecuniary jurisdiction to entertain this OA.

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In view of the fact that the loan facility availed by the defendant is a Unsecured Business Installment Loan and the applicant has claimed interest at contractual rate till the date of filing of the OA, this Tribunal is of the view that the pendente lite interest can be awarded at reduced rates and prayer for award of penal interest is rejected.

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In view of the afore mentioned discussions, the only conclusion this Tribunal can draw is that the applicant had clearly proved the disbursement of the loan, which the applicant is entitled to realize. Hence, OA is disposed off in the following manner: -

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(a) OA No.301 of 2023 stands allowed.

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(b) Applicant is permitted to realize an aggregate sum of Rs.24,17,933.92p together with interest at the date of 8% (Simple) from the date of filing of the application till the date of realization in full, from the defendants jointly and severally after deducting all the amounts received / realized by them during the pendency of OA and also by selling the other assets of the defendants.

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(d) Applicant is permitted to realize cost of the proceedings and shall file cost memo within 15 days from the date of receipt of the copy of the order.

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(e) The Recovery Certificate shall be drawn up and issued to the Recovery Officer in terms of this final order.

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Communicate a copy of the order to the parties concerned in terms of Section 19(21)(i) of the RDB Act, read with Rule 16 of DRT (Procedure) Rules, 1993.

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Sd/(SHARANG DHAR UPADHYAY) PRESIDING OFFICER DRT-II, CHENNAI

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(Dictated to PS, who typed in the system directly, corrected, signed and pronounced by me in Open Court, on this 13^th day of November, 2025)

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EXHIBITS MARKED BY APPLICANT BANK

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S. No.	Date	Description of Documents	Exhibit Nos.
1.	11.01.2019	Loan Application by defendants	A-1
2.	21.01.2019	Sanction Letter	A-2
3.	21.01.2019	Loan Agreement – A/c No.350037083770019	A-3
4.	07.10.2020	Loan application by defendants	A-4
5.	04.10.2020	Pre approved offer letter	A-5
6.	07.10.2020	Loan agreement – A/c No.320037083770019	A-6
7.	30.09.2022	Legal notice by applicant	A-7
8.	11.10.2022	Returned cover of the legal notice in respect of 1^stdefendant	A-8
9.	11.10.2022	Returned cover of the legal notice in respect of 2^nddefendant	A-9
10.	11.10.2022	Returned cover of the legal notice in respect of 3^rddefendant	A-10
11.	31.10.2022	Statement of Accounts – Loan Account No.350037083770019.	A-11
12.	31.10.2022	Statement of Accounts – Loan Account No.320037083770019.	A-12

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Sd/- (SHARANG DHAR UPADHYAY) PRESIDING OFFICER DRT-II, CHENNAI

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DESCRIPTION OF PROPERTY

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NIL

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Sd/(SHARANG DHAR UPADHYAY) PRESIDING OFFICER DRT-II, CHENNAI

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M/s Deutsche Bank Ag v. M/s. Real Tech Power Controls

Case brief

What is this about?

What did the court decide?

M/s Deutsche Bank Ag v. M/s. Real Tech Power Controls

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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