The Tribunal allowed the Original Application filed by the State Bank of India for recovery of outstanding dues amounting to Rs. 53,30,694/- along with interest from the borrower on the basis of a Housing Loan, as the respondent failed to appear.
Recovery of Rs. 53,30,694/- along with interest at 8.50% p.a. with monthly rests from the date of application.
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.
O.A. No. 53 of 2022
20.06.2025
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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 20th day of June, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
ORIGINAL APPLICATION No. 53 of 2022
STATE BANK OF INDIA, Vandalur Branch, 2/248, Anna Street Vandalur, Chennai 600 048 Represented by its Branch Manager
….Applicant
-Vs-
Mr. V. Ramasamy, S/o Mr. P Vellaichamy Residing at No.20, Pulla Avenue, Shenoy Nagar, Chennai 600 030 …Defendant
Counsels on record / appeared:
Counsel for Applicant : M/s. T. Kamala Kannan
Defendant was set ex-parte on 23.05.2022
: - FINAL ORDER - :
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 defendant, for recovery of a total sum of Rs.53,30,694/- (Rupees Fifty Three Lakhs Thirty Thousand Six Hundred and Ninety Four only) due in respect of Housing Loan (Account No.35601835687) together with further interest @8.50%
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p.a., with monthly rests from the date of Application till the date of realization in full, for sale of schedule mentioned immovable property and for costs of this OA.
Brief Facts of the case:
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Heard the submissions of Applicant Bank and perused the
records .
: O R D E R :
(a) The applicant bank is allowed to recover from the Defendant a total sum of Rs.53,30,694/- (Rupees Fifty Three Lakhs Thirty Thousand Six Hundred and Ninety Four only) due in respect of Housing Loan (Account No.35601835687) repayable together
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with further interest @8.50% p.a., with monthly rests from the date of Application till the date of realization in full along with costs of this application.
(b) The sum of Rs.27,65,000/- realized by way of SARFAESI sale is directed to be given credit to the borrower’s loan account as on the date of realization.
(c) 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.
(d) The applicant bank shall file memo of costs within ten days
from the date of receipt of this final order.
(e) 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 (Mogesh), transcribed by him, corrected, signed and pronounced by me on this the 20th day of June, 2025)
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ANNEXURES
WITNESSES EXAMINED FOR THE APPLICANT BANK :
AW-1: Smt. M. Adelinde, Branch Manager of the Applicant Bank
Exhibits on the part of the Applicant:
| Sl. No. |
Description of Documents | Exhibit No. |
|---|---|---|
| 1. | Sanction Letter dated 23.02.2016 | A-1 |
| 2. | Letter of Arrangement dated 26.02.2016 | A-2 |
| 3. | Memorandum of Loan agreement for Home Loan dated 26.02.2016 |
A-3 |
| 4. | Deed of Undertaking dated 26.02.2016 | A-4 |
| 5. | MOD registered Doc.No.5506 of 2016 dated 02.06.2016 |
A-5 |
| 6. | Construction Agreement dated 05.02.2016 | A-6 |
| 7. | Sale deed Doc.No.1997 of 2016 dated 29.02.2016 | A-7 |
| 8. | Lawyers Notice dated 08.08.2018 | A-8 |
| 9. | Statement of Accounts and Certificate | A-9 |
Witness Examined for the Defendant: -Nil-
List of Documents Exhibited for the Defendant: -Nil –
Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI
2 issues framed by the court
Whether the applicant bank is entitled to recover the outstanding dues along with interest for the Housing Loan.
Whether the tribunal is satisfied with the evidence filed by the applicant bank in the absence of the respondent.
3 provisions across 2 enactments
State Bank of India, Vandalur Branch
Mr. V. Ramasamy
S.V. Gowramma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
S.V. Gowramma
Parties & counsel
