Allowed

State Bank of India v. Thomas Souryamthotil

DRT19 Jun 2025OA/605/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the Application for issuance of a Recovery Certificate against the defendants for a Home Loan default of Rs. 42.18 lakhs. The Tribunal found the applicant's evidence un-rebutted and admissible, permitting recovery with future interest at fixed rates.

What did the court decide?

Issuance of Recovery Certificate for Rs. 42,18,363/- to be recovered from defendants' assets and liability of future/pendentalite interest at fixed rates.

State Bank of India versus Thomas Souryamthotil — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II, BANGALORE

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Dated this 19^th Day of June, 2025

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PRESENT: SHRI T. RAJESH Hon’ble Presiding Officer

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O.A. No. 605 of 2024

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State Bank of India, And all Branch all over India Inter alia, Stressed Asset Recovery Branch, Bengaluru, No. 11/90, 3^rd Floor, Near Shivaji Theatre, JC Road, Bengaluru- 560002. Represented by its Chief Manager.

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. . . Applicant

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Versus

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Sri. Thomas Souryamthotil, S/o Francies Thomas, Aged about 31 years, R/at 3-112/19, Bhetal, Adarshnagar, Belathangady Taluk, Kalmanja, Dakshina Kannada, Mangalore, Karnataka- 574228.

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Sri. Francies Thomas, S/o. Thomas, R/at 3-112/19, Bhetal, Adarshnagar, Belthangady Taluk, Kalmanja, Dakshina Kannada, Mangalore, Karnataka- 574228. ---Defendants

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Ld. Counsels on record / appeared :- Counsel for Applicants :- Sri. Prabhu Rao C B Counsel for Defendants :- EXPARTE

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OA 605/2024

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The Application is filed Under Section 19 (1) of the Recovery of Debt And

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Bankruptcy Act, 1993 seeking for issuance of a Recovery Certificate for Rs. 42,18,363/- (Rupees Forty Two lakh Eighteen Thousand Three Hundred and Sixty Three Only) due in the credit facility of Home Loan for Rs. 37,18,000/- (Rupees Thirty Seven Lakh Eighteen Thousand Only) and SBI Suraksha Limit of Rs. 2,29,000/- (Rupees Two Lakh Twenty Nine Thousand Only) availed by the defendants and defaulted subsequently, in gross violation of the terms and conditions stipulated in the loan agreement.

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It is also stated that the facilities is secured by Mortgage of deposit of title deeds.

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The Applicant further contents that despite availing the credit facility by obliging to pay back the amount, the defendants failed in compliance of the same and all the efforts of the Applicant to make the defendants pay

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back the amount failed forcing the Applicant to file this Application.

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Summons was taken out and as the defendants failed to appear they were

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set exparte on 22.11.2024 and evidence was adduced by the applicant through AW1, who filed proof affidavit, produced documents and got marked Ext.A1 to A12 list of which are annexed to this order.

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OA 605/2024

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The Applicant evidence remain un-rebutted and hence proved. The

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documents produced by the Applicant are found to be admissible and are sufficient to prove the OA claim. Hence the Applicant is to be found entitled for the OA claim as the only issue as to the proof of OA claim is answered in favour of the applicant. The OA claim is made within limitation and there is no capitalization of penal interest.

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Since the OA claim is arrived at by calculating agreed rate of interest,

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penal interest/ default interest, which this Tribunal considers as on the

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higher side, pendentalite and future interest is awarded at fixed rate.

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In view of the above

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i. OA 605 OF 2024 stands allowed

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ii. Applicant is permitted to recover an amount of Rs. Rs. 42,18,363/(Rupees Forty Two lakh Eighteen Thousand Three Hundred and Sixty Three Only) which consists of:-

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(a) Rs. 41,72,834/- (Rupees Forty One Lakh Seventy Two Thousand Eight Hundred Thirty Four Only) with future and pendentalite interest @9.15% (Simple) and,

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(b) Rs. 45,529/- (Rupees Forty Five Thousand Five Hundred and Twenty Nine Only) with future and pendentalite interest @ 9.55% (Simple)

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OA 605/2024

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from the date of filing of the OA till realization from the defendants

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jointly, severally & personally after giving credit to all the amount recovered and received during the pendency of the OA.

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iii. The schedule property to be proceeded against and sold and if the sale proceeds are not sufficient the defendants jointly, severally & personally and their other assets are liable to be produced against. The schedule to the OA to be the schedule to the Recovery Certificate.

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iv. A Recovery Certificate is to be drawn and issued to the recovery Officer to enable recovery of the as per the above terms.

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v. Applicant is allowed to realize cost of the proceeding for which cost memo is to be filed in 7 days’ time from the date of receipt of the copy of the order.

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vi. Interim application pending, if any, stands disposed of in terms of

this final order.

OA 605/2024

Communicate a copy of the order to the parties concerned in terms of

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Section 19(21)(i) of the RDB Act, read with Rule 16 of DRT (Procedure)

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Rules, 1993.

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(Dictated to AJ, transcribed by her, corrected, signed and pronounced by me in Virtual Court on this day of 19^th Day of June, 2025)

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Sd/-

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(T. RAJESH)

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Hon’ble Presiding Officer DRT-II- BANGALORE

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ANNEXURES

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WITNESSES EXAMINED FOR THE APPLICANT BANK:

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AW-1: Govind Laxman Ballal S/o Laxman Ballal, Chief Manager, of Applicant

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Bank.

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Exhibits on the part of the Applicant:

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Exhibit	Particulars of Documents
Nos.
A1	True copyof loan application dated 26.06.2021
A2	True copyof arrangement letter dated 31.07.2021
A3	True copyof letter of undertakingdated 31.07.2021
A4	True copyof agreement to mortgage dated 31.07.2021
A5	True copy of memorandum of loan agreement for home loan dated 31.07.2021
A6	True copyof memorandum of deposit dated 06.08.2021
A7	True copy of registration of security interest acknowledgement report dated 30.08.2021
A8	True copyof legal notice dated 10.01.2024

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OA 605/2024

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A9	True copyofpostal receipt
A10	True copyof returned covers
A11	Statement of accountpertainingto home loan
A12	Statement of account pertaining to SBI Suraksha along with
	Certificate asper Banker’s Book Evidence Act

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Witness Examined for the Defendants: -Nil - List of Documents Exhibited for the Defendants: -Nil -

-Nil -

Sd/-

(T. RAJESH)

Hon’ble Presiding Officer DRT-II- BANGALORE

State Bank of India v. Thomas Souryamthotil

Case brief

What is this about?

What did the court decide?

State Bank of India v. Thomas Souryamthotil

Case brief

What is this about?

What did the court decide?

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