Allowed

Federal Bank v. Ravi Venkatapur

DRT19 Sept 2025OA/984/2022

Case brief

AI extract

What is this about?

The Tribunal allowed the Original Application filed by The Federal Bank Ltd. for a Recovery Certificate due to defendant defaults on housing loans. Evidence was uncontroverted as defendants were absent. The recovery amount was admitted with interest capped at 8% p.a.

What did the court decide?

Recovery Certificate for Rs. 21,23,364/- with interest @8% p.a. (Simple) from filing date till realization, jointly and severally against defendants.

Federal Bank versus Ravi Venkatapur — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL II, BENGALURU

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Dated this 19^th Day of September, 2025

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Present: Sri. T. RAJESH Presiding Officer OA.No.984/2022

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BETWEEN:

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The Federal Bank Ltd. Registered Office at Aluva, kerala State and One of its Branch, KM Plaza, Kanakapura Main Road, 30^th Cross, 7^th Block, Jayanagar Branch Bengaluru-560082 …APPLICANT

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AND:

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Mr. Ravi Venkatapur S/o Madivalappa Venkatapur

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Mr. Madivalappa T Venkatapur S/o Madivalappa Thippanna Venkatapur Both R/at: HNo.256, 1^st Cross, 1^st Main, Royal Shelters, Devachikkanahalli, Bangalore-560076

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Also at: No.102/1-24/1, 13^th Cross, 16^th Main, Venkateshwara Layout, Madiwala, Bangalore-560068

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Also at: No.330, Guddad Math Oni, House No.223 to 390 Narendra Dharwad Karnataka-580005

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OA 984-2022

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M/s Associate Builders Represented by its Partner Mr. P K Rajesh, C/o Associate Dwelling (P) ltd. Having Office at No.302, 3^rd Floor, Devatha Plaza, Residency Road, Bangalore-560025

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...DEFENDANTS

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Counsel on record/appeared for:

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Applicant : Sri. Vijayakumar.V Defendants : Exparte

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FINAL ORDER

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The present Original Application in short (OA) has been filed under section 19 of Recovery of Debts and Bankruptcy Act 1993 seeking issuance of Recovery Certificate for Rs.21,23,364/- (Rupees twenty one lakh twenty three thousand three hundred and sixty four only) with further interest thereon from the date of filing the Application till realization from the Defendants.

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It is the case of the applicant that the defendants No.1 & 2 availed the Housing loan credit facilities of Rs.28,11,338/(Rupees twenty eight lakh eleven thousand three hundred thirty eight only) from the applicant bank.

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OA 984-2022

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It is also the case of the applicant that, in lieu of the above amount financed, the defendant executed necessary loan documents along with on demand promissory note and recall letter in favor of the applicant bank.

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It is further contended that, the defendants despite availing the credit facility, agreeing to service the loan account promptly and regularly, failed in complying the same, resulting in defaults in repayment and consequentially turning the loan accounts as NPA.

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In the above circumstances, the applicant approached this Tribunal by filing this OA seeking issuance of Recovery Certificate for the amount due in the account.

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Despite, service of summons on the defendants, they failed to appear, resulting the defendant being set exparte on 27.01.2025.

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The applicant had let in evidence through AW-1, who filed Proof Affidavit reiterating the contentions taken in the OA and also produced Exhibits A-1 to A-12 and got the same marked in evidence.

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Heard the Ld. Counsel for the Applicant and considered

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OA 984-2022

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the contentions as taken in the OA in the light of documentary evidence and the proof affidavit.

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The following issues arise for consideration in this matter:

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i) Whether the applicant had succeeded in proving the OA claim as against the defendant?

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ii) What order are to be passed?

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Both these issues are gone into and decided together.

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The case put forth by the applicant in the Application remains unrebutted as defendants remained exparte. The evidence tendered by the applicant remains uncontroverted and undisputed. The evidences put forth by the applicant were found admissible and are sufficient to prove availment of credit facilities as stated in the OA agreement for creation of mortgage as claimed by the applicant bank and the defaults committed in the accounts. The liability of the defendants and the claim as the amount due is also proved by the above documents. The claim of the applicant is well within the limitation.

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Hence in view of the finding arrived herein above, this

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OA 984-2022

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Tribunal find both these issues in favour of applicant and hence

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this Tribunal is of the view that OA is to be allowed.

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Taking into consideration the facts that the credit facilities

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are availed by defendant No.1 &2 for Housing purpose and also that OA claim is arrived at by calculating interest at the agreed rate, this Tribunal, in view of the OA can be allowed with a reduced interest @8% p.a.(Simple).

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In the result, OA.No.984/2022, stands allowed,

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i) The applicant is allowed to recovery an aggregate sum of Rs.21,23,364/- (Rupees twenty one lakh twenty three thousand three hundred sixty four only) with further interest @8% p.a. (Simple),

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

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jointly, personally after giving credit to all the amount recovered

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and received during the pendency of the OA and allowed the

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same to be recovered by proceedings against the defendants

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No.1 to 3 jointly severally & personally including the schedule

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property. Properties schedule to the OA be the schedule to the

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OA 984-2022

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recovery certificate.

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ii) The applicant bank is allowed cost of the proceedings

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which applicant to file cost memo within 7 days from the date of

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receipt of the order.

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iii) The Recovery Certificate to be drawn in terms of this

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order and transferred to Recovery for execution.

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iv) Interim application pending, if any, stands disposed of

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in terms of this final order.

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14. Communicate a copy of the order to the parties concerned

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in terms of Section 19(21)(i) of the RDB Act, read with Rule 16

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of DRT (Procedure) Rules, 1993.

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[Dictated to the Stenographer (JV), transcribed by him, corrected and signed and pronounced by

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me in the Open Court, this the 19^th day of September, 2025].

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Sd/ (T. RAJESH)

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PRESIDING OFFICER

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ANNEXURES

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WITNESSES EXAMINED FOR THE APPLICANT BANK:

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AW-1: Shrikrishna Sharma K, Asst. Vice President, of Applicant Bank.

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Exhibits on the part of the Applicant:

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Exhibit Date Particulars of Documents Nos.

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OA 984-2022

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A1	02.05.2011	Application for Federal Housing Loan executed by the defendants for Rs.28,11,338/-dated 02.05.2011
A2	20.06.2011	Sanction Order issued by the Applicant Bank in favor of the defendants No.1 & 2 for Rs.28,11,338/-dated 20.06.2011
A3	27.06.2011	Federal Housing loan agreement executed by the defendants No.1 & 2 of Rs.28,11,338/- dated 27.06.2011
A4	27.06.2011	On demand Promissory note executed by the defendants No.1 & 2 of Rs.28,11,338/- dated 27.06.2011
A5	27.06.2011	Security Delivery letter executed by the defendants No.1 & 2 of Rs.28,11,338/- dated 27.06.2011
A6	27.06.2011	Agreement in lieu of Interim collateral security executed by the defendants No.1 & 2 of Rs.28,11,338/-dated 27.06.2011
A7	22.06.2011	Tripartite agreement dated 22.06.2011 between applicant bank and defendants
A8	28.04.2011	Agreement to sell undivided interest and construction of flat executed by M/s Associate Builders in favor of Mr. Ravi Venkatapur
A9	30.03.2022	Note to the builder seeking execution of sale deed in favor of the defendant No.1
A10	08.03.2022	Recall letter issued to defendants by the Applicant Bank
A11		Certified copy of the Account extract in respect of FHS Loan Account No.13877300002371
A12		Power of Attorney

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

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Sd/ (T. RAJESH) PRESIDING OFFICER

Federal Bank v. Ravi Venkatapur

Case brief

What is this about?

What did the court decide?

Federal Bank v. Ravi Venkatapur

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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