Bank of India v. Shanmugam
Case brief
What is this about?
The Debts Recovery Tribunal allowed the bank's application for recovery of dues totaling Rs.31,23,052.51 under a home loan agreement, permitting further recovery via the sale of the mortgaged property.
What did the court decide?
Recovery of Rs.31,23,052.51 plus interest and costs; liberty to sell the mortgaged property if payment fails.
What the court decided
T.A. No. 1065 of 2023
26.11.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 26th day of November, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
TRANSFERRED APPLICATION No. 1065 of 2023
(Originally filed before DRT- II, Chennai as OA 150/2020 and thereafter transferred to this Tribunal and renumbered as TA No 1065 of 2023)
M/s. Bank of India, (Mylapore Branch), #120 (Old No.174), Luz Church Road, Mylapore, Chennai 600 004.
….Applicant
-Vs-
Mr. R. Shanmugam, S/o. Mr. Ramaswamy, No.J-111/6, Periyar Vegetable Market, Koyambedu, Chennai 600 002.
Issues for consideration
2 issues framed by the court
Whether the applicant bank is entitled to a final order for recovery of the home loan dues and interest.
Whether the scheduled immovable property can be sold to recover the outstanding amount.
Parties & counsel
- applicant
M/s. Bank of India, (Mylapore Branch)
- respondent
Mr. R. Shanmugam
Coram
S.V. Gowramma
Case details
As recorded by the court registry
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