In IA No.2195/25, the DRT-III Chennai granted an application seeking attachment before judgment and a show-cause notice for furnishing security in a banking recovery case.
Respondents directed to show cause why security of Rs.60,26,534/- is not furnished within 15 days; conditional attachment of schedule property ordered.
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.
IA No.2195/25 in OA No.935/2025
08.10.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 08th day of October, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
I.A. No.2195 of 2025 in O.A. No. 935 of 2025
State Bank of India Dharmapuri Main Branch Nathaji Bye Pass Road Dharmapuri Town – 636 701 Rep. by its Chief Manager
….Petitioner / Applicant
-Vs-
Mrs. S. Revathi D/o Mr. Srinivasan & W/o Mr. Senthilkumar No.57/30, Mothur Road, Nallanahalli Village Mallikuttai Post, Mullai Avenue, Dharmpuri Tamil Nadu – 636 701
Also at
M/s SRP Aquaman Represented by its Proprietrix Mrs. S. Revathi D/o Mr. Srinivasan & W/o Mr. Senthilkumar D.No.2/183, Perumal Koil Street, Pidamaneri Vellaikavundapalayam (Part) Dharmapuri, Tamil Nadu
IA No.2195/25 in OA No.935/2025
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08.10.2025
Also at
Mrs. S. Revathi D/o Mr. Srinivasan & W/o Mr. Senthilkumar D.No.2/183, Perumal Koil Street, Pidamaneri Vellaikavundapalayam (Part) Dharmapuri, Tamil Nadu …..Respondents / Defendants
Counsels on record / appeared:
Counsel for Applicant : Sh. KCYR Associates
: - ORDER ON IA NO.2195 of 2025- :
IA No.2195/25 in OA No.935/2025
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08.10.2025
scheme for their business purpose after executing necessary loan and security documents in favour of applicant bank. For the due repayment of the loan amount, the 2nd respondent stood as guarantor for the loan facility availed by 1st defendant. The liabilities owed by the defendants are not covered by any security.
IA No.2195/25 in OA No.935/2025
08.10.2025
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the said property in order to create third party interest and evading from her liability to pay the dues and also to cause the applicant to suffer detrimental loss, hardship and impediments in recovering its dues of huge magnitude. Hence the present application is filed praying to direct the respondents to furnish security within the time frame fixed by the Tribunal, failing which to grant an order of Attachment before Judgment of the schedule mentioned property belonging to 2nd respondent, till the disposal of the OA.
Heard the counsel for applicant bank and perused the records of produced along with the IA.
“ Where, at any stage of the proceedings, [the Tribunal on an application made by the applicant along with particulars of property to be
IA No.2195/25 in OA No.935/2025
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attached and estimated value thereof, or otherwise] is satisfied that the defendant, with intent to obstruct or delay or frustrate the execution of any order for the recovery of debt that may be passed against him
(i)is about to dispose of the whole or any part of his property; or
(ii)is about to remove the whole or any part of the property from the local limits of the jurisdiction of the Tribunal; or
(iii)is likely to cause any damage or mischief to the property or affect its value by misuse or creating third party interest,
the Tribunal may direct the defendant, within a time to be fixed by it, either to furnish security, in such sum as may be specified in the order, to produce and place at the disposal of the Tribunal, when required, the said property or the value of the same, or such portion thereof as may be sufficient to satisfy the certificate for the recovery of debt, or to appear and show cause why he should not furnish security.
(B)Where the defendant fails to show cause why he should not furnish security, or fails to furnish the security required, within the time fixed by the Tribunal, the Tribunal may order the attachment of the whole or such portion of the properties claimed by the applicant as the properties secured in his favour or otherwise owned by the defendant as appears sufficient to satisfy any certificate for the recovery of debt.”
IA No.2195/25 in OA No.935/2025
08.10.2025
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:ORDER:
In the circumstances pleaded, respondents 1 and 2 are hereby directed to show cause as to why they should not furnish security to the tune of OA claim in a sum of Rs.60,26,534/- within 15 days from the date of receipt of this order, failing which to attach the IA schedule mentioned property belonging to 2nd respondent to answer the OA claim herein.
Meanwhile, conditional attachment of the petition schedule mentioned properties to the extent of OA claim of Rs.60,26,534/together with further interest is hereby ordered to secure the dues of the applicant bank.
Sd/-
(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me on this the
08th day of October, 2025)
IA No.2195/25 in OA No.935/2025
08.10.2025
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SCHEDULE PROPERTY
Item No.1:
(Property devolved in Sale deed dated 04.04.2022 registered as
Doc.No.1963 of 2022 with SRO Dharmapuri Joint II)
All that piece and parcel of land measuring an extent of 2000 Sq.ft., bearing Plot No.40 in the lay out namely “MULLAI AVENUE” together with building if any constructed thereon comprised in S.No.57/6A1A1A1, 57/6B1A1A1A1A of Nallanahalli Village, Dharmapuri Union, Semmandakuppam Panchayath, Dharmapuri District,
Bounded On
North : Vacant Plot No.41, South: 23 feet wide road, East : Vacant Plot No.39, West : 23 feet wide road Admeasuring
East to West on the Northern side : 50 Feet, East to West on the Southern side : 50 Feet, North to South on the Eastern Side : 40 Feet, North to South on the Western Side: 40 Feet,
Within the Registration District of Dharmapuri and Sub Registration District of Dharmapuri Joint II.
Item No.2:
(Property devolved in Sale deed dated 22.11.2022 registered as Doc. No.6577 of 2022 with SRO Dharmapuri Joint II)
All the piece and parcel of land measuring an extent of 30.31 Cents together with building if any constructed thereon comprised in S.No.57/6A, as per Sub Division S.No.57/6A1A1 and As per Patta
IA No.2195/25 in OA No.935/2025
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08.10.2025
No.2180 S.No.57/6A1A1A1 of Nallanahalli Village, Dharmapuri Union, Semmandakuppam Panchayath, Dharmapuri District,
Bounded on
North : Property belongs to Thirupathi and Mathu, South : Mullai Avenue Lay out,
East : Gunasekaran Land,
West : Road (Lay out approved bearing No.211/2018 By DTCP Assistant Director, Dharmapuri Zone)
Within the Registration District of Dharmapuri and Sub Registration District of Dharmapuri Joint II.
Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI
1 issue framed by the court
Whether to grant an order for furnishing security or attachment before judgment to secure the applicant bank's dues against the risk of respondents alienating properties.
1 provisions across 1 enactments
State Bank of India
M/s SRP Aquaman
Mrs. S. Revathi
S.V. Gowramma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
