Allowed

Idbi Bank v. Mr Aj Satheshkumar

DRT6 Nov 2025OA/315/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application filed by IDBI Bank Ltd. against two defendants jointly and severally for recovery of a home loan amount. The court affirmed the bank's claim for principal, interest, and costs, permitting recovery via sale of mortgaged property in case of default.

What did the court decide?

Recovery of Rs. 35,97,422.51 plus 9.25% p.a. interest, with liberty to recover by sale of schedule property.

Idbi Bank versus Mr Aj Satheshkumar — Banking and Recovery | DRT (2025)

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O.A. No. 315 of 2022

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06.11.2025

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 06^th day of November, 2025

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Present: SMT. S.V. GOWRAMMA Presiding Officer

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ORIGINAL APPLICATION No. 315 of 2022

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IDBI Bank Ltd., Chengalpattu Branch, No.64/11, Alagesan Nagar, Vedachala Nagar, Chengalpattu -603 001. ….Applicant

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-Vs-

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Mr. AJ Satheshkumar,

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S/o. Mr. A Janarthanan,

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No.5A, Flat No.1F,

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Kuppusamy Pillai Street, Jesupatham Nagar, Nandhivaram, Guduvanchery, Chennai 603 202.

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Mrs. S. Devi, W/o. Mr. Satheshkumar, No.5A, Flat No.1F, Kuppusamy Pillai Street, Jesupatham Nagar, Nandhivaram, Guduvanchery, Chennai 603 202. …..Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s. NVS & Associates

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Defendants were set ex-parte on 21.12.2022

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: - FINAL ORDER - :

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This Original Application is filed on 18.08.2022 by the Applicant Bank

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under Section 19 (1) of Recovery of Debts and Bankruptcy Act, 1993 (formerly Recovery of Debts Due to Banks and Financial Institutions Act,

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O.A. No. 315 of 2022

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06.11.2025

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against the Defendants jointly and severally for recovery of a total sum of Rs.35,97,422.51p (Rupees Thirty Five Lakhs Ninety Seven Thousand Four Hundred and Twenty Two and Fifty One Paise Only) due in respect of Home Loan (Account No.1142675100000675) repayable together with further interest @ 9.25% p.a. with monthly rests and penal interest @ 2% p.a. from the date of filing the OA, till date of realization in full, for sale of immovable property morefully detailed in Schedule to the OA and for costs of this application.

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Brief Facts of the case:

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The Applicant submits that the application is filed within the period of limitation as prescribed under Section 24 of the Recovery of Debts and Bankruptcy Act, 1993, and the subject recovery claim falls within the jurisdiction of this Tribunal.

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It is the case of the Applicant Bank that the Defendant had approached the applicant bank and applied for Mortgage Loan (Home Loan) of Rs.49,90,000/-. After due consideration of the request of the Defendants, the Applicant bank had sanctioned the above said amount vide Sanction Letter dated 20.02.2015.

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It is submitted by the Applicant Bank that having availed the Home Loan of Rs.49,90,000/-, the Defendants have executed the following documents in favour of the Applicant Bank on 02.03.2015:

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06.11.2025

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a. Home Loan Agreement

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b. Power of Attorney

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c. Declaration and undertaking

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The applicant submits that the in order to secure the loan, the Defendants had created equitable mortgage over the scheduled properties by way of deposit of title deeds with intent to create equitable mortgage and executed the Memorandum of Deposit of Title Deeds dated 08.04.2015 and registered as Document No.4701 of 2015 at Sub Registrar Office, Guduvanchery.

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It is submitted that the Applicant Bank had disbursed the loan amounts as per the sanctioned terms. However, subsequent to availing of loan, the defendants failed and neglected to repay the loan amount, interests and other monies and committed defaults in observing the conditions of the Agreements and Sanction Letter. Consequent to the defaults committed by the Borrowers in respect of the repayments, the account was classified as Non-Performing Asset (NPA) on 12.05.2021 in accordance with the directions/guidelines issued by the Reserve Bank of India. The applicant bank issued Recall Notice dated 16.06.2022 to the defendants and called on the Defendants to discharge their entire liabilities by paying to the Applicant bank a sum of Rs.35,78,230.51/- (Rupees Thirty Five Lakh Seventy Eight Thousand Two Hundred and Thirty & Paise Fifty

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O.A. No. 315 of 2022

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06.11.2025

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One Only) in respect of said Loan as of 02.06.2022, within 7 days from the date of the receipt of the notice and further advised that in case of failure to make payment, the Applicant Bank shall be constrained to take steps for enforcing the securities and realizing the dues. Inspite of the Applicant’s notices, the Defendants did not make the entire payment as per the Recall Notice. Hence the present Original Application (OA) has been filed by the applicant bank for recovery of its dues from the defendants.

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After the filing of the OA, summons were sent to the Defendants 1 and 2 through Registered Post with Acknowledgment Due. Summons to defendants 1 and 2 were duly served, despite which there is no representation on behalf of defendants. When OA was taken up on 21.12.2022 even after giving sufficient time, there was no appearance or representation from the defendants. Hence, defendants 1 and 2 were placed ex-parte on 21.12.2022.

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Heard the submissions of Applicant Bank and perused the records.

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To prove the case of the Applicant Bank, Sh. Naveen Kumar Agarwal, Deputy General Manager, Chengalpattu Branch representing the Applicant Bank, has filed his Affidavit by way of evidence and same was considered

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as evidence of AW-1 and list of documents came to be marked as Ex A-1

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to A-8 .

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O.A. No. 315 of 2022

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06.11.2025

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During the pendency of OA, 1^st defendant had filed a petition in IA No.586 of 2023 praying to set aside the ex-parte order dated 21.12.2022 passed against him, along with Written Statement. 1^st Defendant was directed to prove his bonafides for consideration of IA. However, as 1^st defendant did not come forward to prove his bonafides, IA No.586 of 2023 came to be dismissed vide proceedings dated 28.03.2024. As the Defendants remained ex-parte, the OA claim remains unchallenged. There is no contra evidence available on record to repudiate the claim of the Applicant Bank.

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With regard to the amount advanced, the interest applied, the conduct and operations in the account and the default committed, this Tribunal comes to the conclusion that the applicant bank is entitled for a final order on the following terms:

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: O R D E R :

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The OA is allowed with costs,

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(a) The applicant bank is allowed to recover from the Defendants jointly and severally, a total sum of Rs.35,97,422.51p (Rupees Thirty Five Lakh Ninety Seven Thousand Four Hundred and Twenty Two and Fifty One Paise Only) due in respect of Home Loan (Account No.1142675100000675) repayable together with further interest @ 9.25% p.a. with monthly rests and penal interest @ 2% p.a., from the date of filing the OA, till date of realization in full

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along with costs.

(b) In the event of failure of the Defendants to pay the aforesaid amount, the bank is at liberty to recover the amount by sale of the schedule mentioned property.

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(d) The applicant bank shall file the latest memo of calculation of

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OA amount together with interest, costs etc., to be paid by the Defendants 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.

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(e) The applicant bank shall file memo of costs within ten days from the date of receipt of this final order.

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

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A copy of this order be communicated to the parties concerned.

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Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI

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(Dictated to Steno (Suriya), transcribed by him, corrected, signed and pronounced by me on this the 06^th day of November, 2025)

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O.A. No. 315 of 2022

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ANNEXURES

WITNESSES EXAMINED FOR THE APPLICANT BANK :

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AW-1: Sh. Naveen Kumar Agarwal, Deputy General Manager, Chengalpattu Branch representing the Applicant Bank.

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Exhibits on the part of the Applicant:

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Sl. No.	Description of Documents	Exhibit No.
1.	Sanction Letter dated 20.02.2015.	A-1
2.	Home Loan Agreement dated 02.03.2015.	A-2
3.	Power of Attorney dated 02.03.2015.	A-3
4.	Declaration and undertaking dated 02.03.2015.	A-4
5.	Memorandum of Deposit of Title Deed vide Doc.No.4701 of 2015 dated 08.04.2015.	A-5
6.	Recall Notice dated 16.06.2022.	A-6
7.	Sale Deed vide Document No.12208 of 2011 dated 09.11.2011.	A-7
8.	Statement of Account along with Certificate under Bankers’ Book Evidence Act dated 23.06.2022.	A-8
9.	Authorization Letter and Delegation of Powers.	A-9

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Witness Examined for the Defendants: -Nil-

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List of Documents Exhibited for the Defendants: -Nil –

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:- SCHEDULE -:

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All that piece and parcel of land of House site bearing Plot No.18, Door No.5, Kuppusamy Pillai Street, Jesubatham Nagar Layout, measuring an extent 2710 Sq.ft., (L Shape) out of 4800 Sq.ft., Old S.No.121/A1B Part, Patta S.No.121A/12B, Guduvanchery Village, Chengalpattu Taluk, Kanchipuram District Now Chengalpattu District and Bounded on the North by - Gopinath’s Property & Kuppusamy Pillai Street; South by - House in Plot No.24; East by - House in Plot No.17 & Gopinath’s Property;

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O.A. No. 315 of 2022

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West by - Bathra Residence in Plot No.19; Admeasuring

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North Side - 10+38 Feet, South Side - 48 Feet;

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East Side - 55+45 Feet; West Side - 100 Feet;

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Situate within the Registration District of Chennai South and SubRegistration District of Guduvanchery.

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Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI

Idbi Bank v. Mr Aj Satheshkumar

Case brief

What is this about?

What did the court decide?

Idbi Bank v. Mr Aj Satheshkumar

Case brief

What is this about?

What did the court decide?

What the court decided

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