Allowed

Idbi Bank v. Saravanan Kumar

DRT29 Apr 2025OA/365/2022

Case brief

AI extract

What is this about?

Petitioners (Bank) filed original application for recovery of loan dues of approximately Rs.48.65 Lakhs against Respondents for Housing and Mortgage loans. Tribunal allowed the application ex-parte as Respondents failed to appear, directing recovery from mortgaged properties or personal assets if necessary.

What did the court decide?

Recovery of sum of Rs.48,65,421/- including further interest @ 10% and 9.90% p.a. from mortgaged property or personal assets.

Idbi Bank versus Saravanan Kumar — Contract and Commercial Disputes | DRT (2025)

OA No.365/2022

29.04.2025

IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 29^th day of April, 2025

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Present: SMT. S.V. GOWRAMMA Presiding Officer

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ORIGINAL APPLICATION No. 365 of 2022

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M/s. IDBI Bank Ltd., Periyar Nagar Branch No.B-26, Karthikeyan Salai Periyar Nagar, Chennai – 600 082 Rep. by its Branch Manager

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….Applicant

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-Vs-

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Mr. Satish Saravana Kumar S/o. Mr. Gopal Sadagopan, Sky City Apartments, Tower II Flat No.301, Vanagaram Road, Chennai – 600 095

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Also at

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Mr. Satish Saravana Kumar Door No.1943, II Floor, 5^th Cross Street, Vasantham Colony, Anna Nagar, Chennai – 600 040

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Also at

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Mr. Satish Saravana Kumar M/s. Adinal Technologies, No.229, No.92, SIDCO Industrial Estate Thirumudivakkam, Chennai – 600 044

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Mrs. S. Nalini, W/o. Mr. Satish Saravana Kumar Sky City Apartments, Towers II Flat No.301, Vanagaram Road, Chennai – 600 095

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Also at

Mrs. S. Nalini, W/o. Mr. Satish Saravana Kumar, Door No.1943, II Floor, 5^th Cross Street, Vasantham Colony, Anna Nagar, Chennai – 600 040

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Also at

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Mrs. S. Nalini, W/o. Mr. Satish Saravana Kumar, M/s. Adinal Technologies, No.229, No.92, SIDCO Industrial Estate Thirumudivakkam, Chennai – 600 044 ….Defendants

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Counsels on record / appeared:

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Counsel for Applicant : Mr. S. Parthasarathy

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Defendants were set ex-parte on 10.02.2023

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: - FINAL ORDER - :

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This original application is filed on 25.11.2021 by the Applicant Bank under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 (formerly Recovery of Debts Due to Banks and Financial Institutions Act, 1993) against the Defendants for recovery of a total sum of Rs.48,65,421/-

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(Rupees Forty Eight Lakhs Sixty Five Thousand Four Hundred &

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Twenty One Only) as follows:

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(i) A sum of Rs.18,11,496/- due in respect of Housing Loan

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A/c No.814675100129718 together with further interest thereon @ 10.00% p.a., with monthly rests from the date of

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application till the date of realization in full;

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(ii) A sum of Rs.30,53,925/due in respect of Loan against property (Mortgage Loan (LAP)) A/c No.0718675100002721 together with further interest thereon @ 9.90% p.a., with monthly rests from the date of application till the date of realization in full;

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for sale of mortgaged property morefully detailed in schedules 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 Hon’ble Tribunal.

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The Applicant Bank submits that the Defendants have approached the Applicant Bank on 22.10.2007 for sanction of Housing Loan for the purpose of Flat purchase and the Applicant Bank on the request of the Defendants has sanctioned the Housing Loan to the tune of Rs.23,00,000/- on 21.01.2008 in Loan Account No. 814675100129718.

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The Applicant Bank submits that the Defendants have executed the

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following documents in favour of the Applicant Bank, as security for Housing

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Loan:

a. Home Loan Agreement, dated 25.01.2008 for the Sanctioned amount of Rs.23,00,000/- in favour of Applicant Bank agreeing to the terms and conditions in the Agreement.

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b. Power of Attorney, dated 25.01.2008 in favour of Applicant Bank.

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c. An Affidavit, dated 25.01.2008 undertaking to repay the debt against the sanction amount of Rs.23,00,000/- and indemnify for any loss and or damage caused to the Applicant Bank on Account of any act done or caused to be done by the borrowers in favour of the Applicant Bank.

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The Applicant Banks submits that the Defendants have approached the Applicant Bank on 20.07.2017 for sanction of Loan against property and the Applicant Bank on the request of the Defendants has sanctioned the Loan against property (Mortgage Loan) to the tune of Rs.29,00,000/- on 04.08.2017 in Loan Account No.0718675100002721.

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The Applicant Bank submits that the Defendants have created equitable mortgage, which was purchased under the Registered Sale Deed in Doc. No.718 of 2009 dated 29.04.2009 held in the name of the 1^st and 2^nd Defendants in favour of the Applicant Bank and the Defendants have deposited the Original Title Deeds and other documents pertaining to their immovable property Flat No.301, Towers No.11, 3^rd Floor, Sky City

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29.04.2025

Apartment, Ambattur Road, Adyalampattu, Tiruvalluvar, Chennai – 600 095 (as described morefully in the Schedule-C property mentioned hereunder) and have executed the following documents in favour of the Applicant Bank, as security towards Mortgage Loan (LAP).

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a. Home Loan Agreement, dated 05.08.2017 for the Sanctioned amount of Rs.29,00,000/- in favour of Applicant Bank agreeing to the terms and conditions in the Agreement.

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b. Undated Power of Attorney, in favour of Applicant Bank.

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c. Memorandum of Deposit of Title Deeds Registered as Document No.1649 of 2017 on 04.08.2017 in favour of Applicant and the Defendants have also executed the Declaration and undertaking (in the matter Mortgage by Deposit of Title Deeds) dated 05.08.2017 for Rs.29,00,000/- in favour of Applicant.

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d. Deed of Indemnity dated 05.08.2017 for Rs.29,00,000/- in favour of Applicant.

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It is submitted by Applicant Bank that after availing the said facility, the defendants deliberately failed to repay the loan amount availed in spite of repeated demands and reminders by Applicant Bank. As defendants miserably failed to make repayments in the aforesaid loan account, the applicant bank classified the aforesaid loan account as NPA (Non-Performing Assets) on 08.01.2021, as per the guidelines issued by the RBI. The Bank has issued Recall Notice to the Defendants on 15.05.2021 calling upon them

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to repay the entire outstanding amount and the same was served to Defendants on 17.05.2021. The Bank has also issued Demand Notice under Section 13(2) of SARFAESI Act, to the Defendants on 04.06.2021 calling upon them to repay the entire outstanding amount, despite which there was no payments from the defendants. Hence, this Original Application (OA) has been filed to recover the dues from the defendants.

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After the filing of the OA, Summons were sent to Defendants 1 and 2 through Registered Post with Acknowledgement due, which was returned unserved with Postal endorsement as ‘Refused/Unclaimed’, which is deemed service. When OA was taken up on 10.02.2023 even after giving sufficient time, there was no appearance or representation from the defendants. Hence, defendants were placed ex-parte on 10.02.2023.

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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, Mr. Seetharaman Murugan, Assistant General Manager of the Applicant Bank, has filed his Affidavit by way of evidence and same was considered as evidence of AW-1 and list of documents came to be marked as Ex A-1 to A-20 . 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

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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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11. The OA is allowed with costs,

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(a) The applicant bank is allowed to recover from Defendants a sum of Rs.48,65,421/- (Rupees Forty Eight Lakhs Sixty Five Thousand Four Hundred & Twenty One Only) as follows:

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(i) A sum of Rs.18,11,496/- due in respect of Housing Loan

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A/c No.814675100129718 together with further interest thereon @ 10.00% p.a., with monthly rests from the date of application till the date of realization in full;

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(ii) A sum of Rs.30,53,925/- due in respect of Loan against property (Mortgage Loan (LAP)) A/c No.0718675100002721 together with further interest thereon @ 9.90% 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 defendants to pay the aforesaid amount, the bank is at liberty to recover the amount by sale of the schedule mentioned immovable properties morefully detailed in the OA;

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(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 Defendants (both movable and immovable) to recover the balance dues as required under law;

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(e) The applicant bank shall file the latest memo of calculation of OA amount together with interest, costs etc., to be paid by the defendants duly considering the amounts, if any, paid by the defendants 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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(f) The applicant bank shall file memo of costs within ten days from the date of this final order.

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(g) 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 (Sudhakar), transcribed by him, corrected, signed and pronounced by me on this the 29^th day of April, 2025)

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ANNEXURE

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WITNESSES EXAMINED FOR THE APPLICANT BANK :

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AW-1: Mr. Seetharaman Murugan, Asst. General Manager of 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.	Applications of Defendants for Housing Loan dated 22.10.2007	A-1
2.	Sanction Letter for Rs.23,00,000/- duly acknowledged by the Defendants dated 21.01.2008	A-2
3.	Home Loan Agreement executed by the Defendants for Rs.23,00,000/-dated 25.01.2008	A-3
4.	Power of Attorney duly executed by the Defendants in favour of Applicant Bank dated 25.01.2008	A-4
5.	Affidavit of Defendants in favour of Applicant dated 25.01.2008.	A-5
6.	Applications of Defendants for Top-up loan dated 20.07.2017.	A-6
7.	Sanction letter for Rs.29,00,000/- duly acknowledged by the Defendants dated 04.08.2017	A-7
8.	Home Loan Agreement executed by the Defendants for Rs.29,00,000/-dated 05.08.2017	A-8

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9.	Power of Attorney duly executed by the Defendants in favour of Applicant Bank.	A-9
10.	Deed of Indemnity executed by the Defendants in favour of Applicant dated 05.08.2017	A-10
11.	Declaration and undertaking executed by the Defendants in favour of Applicant dated 05.08.2017	A-11
12.	Sale Deed in Document No.1649 of 2017 stands in the name of Mr. S. Satish Saravanakumar & Ms. S. Nalini (1^stand 2^ndDefendants) dated 29.04.2009	A-12
13.	Memorandum of Deposit of Title Deeds in Document No.1649 of 2017 executed by Defendants dated 04.08.2017	A-13
14.	Builder Agreement stands in the name of Defendants dated 15.11.2007.	A-14
15.	Loan Recall Notice issued to the Defendants dated 15.05.2021	A-15
16.	Defendants Acknowledgement Card dated 17.05.2021	A-16
17.	Demand Notice under Section 13(2) of SARFAESI Act to the Defendants dated 04.06.2021	A-17
18.	Acknowledgement Cards dated 08.06.2021	A-18
19.	Statement of Account for Loan A/c No. 814675100129718 along with Certificate under Banker’s Book Evidence Act dated 06.09.2021	A-19
20.	Statement of Account for Loan A/c No. 0718675100002721 along with Certificate under Banker’s Book Evidence Act dated 26.08.2021	A-20

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Witness Examined for the Defendant: -Nil-

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List of Documents Exhibited for the Defendant: -Nil –

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SCHEDULE OF PROPERTY

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(Stands in the name of Defendants covered under Sale Deed in Document No.718 of 2009 dated 29.04.2009)

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Schedule “A”

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All that piece and parcel of land of an extent of 9.57 acres as per document, 9.52 Acres as per Patta, comprised in Survey Nos. 92/1, 92/2, 92/3, 93/1,

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93/2, 93/3, 94/1, 94/2B1, 94/2B2, 94/3A2, 94/3B3, 94/4, 94/5, 94/6, 95/1B, 95/2A, 95/2B, 97/6 & 101/2A2 Part of Adayalampattu Village, Ambattur Taluk, Thiruvallur District and the said 9.57 Acres of land is bounded as follows;

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On the North by : Land in S.No’s.97/5 & 95/1A part;

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On the South by : Land in S.No’s 101/2 Part, 105 & 106;

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On the East by : Land in S.No’s 95/1A Part, 91, 90 & 89; On the West by : Road;

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Situated within the Registration District of Chennai South and SubRegistration District of Saidapet.

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Schedule “B”

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All that piece and parcel of land of an extent of 7.48 Acres as per document, 7.43 Acres as per Patta, forming part of the land of an extent of 9.57 Acres, comprised in Old Survey Nos. 92/1, 92/2 Part, 92/3 Part, 93/1, 93/2 Part, 93/3 Part, 94/1, 94/2B1 Part, 94/2B2 Part, 94/3A2 Part, 94/3B3 Part, 94/4, 94/5 Part, 94/6, 95/1B, 95/2A, 95/2B, 97/6, New S.Nos.92/1, 92/2A, 92/2D, 92/3, 93/1, 93/2A, 93/2D, 93/3A, 94/1, 94/2B1A, 94/2B2A, 94/2B2C, 94/3A2A, 94/3A2C, 94/3A2D, 94/3B3A, 94/3B3C, 94/4, 94/5A, 94/5C, 94/6, 95/1B, 95/2A, 95/2B, 97/6 of Adayalampattu Village, Ambattur Taluk, Thiruvallur District and the said 7.43 Acres of land is bounded as follows;

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On the North by : Land in S.No’s.97/5 & 95/1A part;

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On the South by : Land in S.No’s 101/2 Part, 105 & 106;

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On the East by : Land in S.No’s 95/1A Part, 91, 90, 93/3A Part & 89; On the West by : Road (Vanagaram Ambattur Road);

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Situated within the Registration District of Chennai South and SubRegistration District of Saidapet (Currently Chennai-South Joint-II, SubRegistration District).

Schedule “C”

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(Property under Mortgage)

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595 Sq.ft., undivided share in the land described in Schedule B above together with an Apartment with Plinth Area of 984 Sq.ft., and a share equivalent to 179 Sq.ft., in common area including amenities, said plinth area and share in common area aggregating to total super built-up area of 1,163 Sq.ft., in Tower 11 Apartment No.301 on Third Floor of the building complex known as “Sky City” raised on the land described in Schedule-B supra together with one reserved covered car park space within the stilt area on the ground floor.

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

Idbi Bank v. Saravanan Kumar

Case brief

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Idbi Bank v. Saravanan Kumar

Case brief

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