Allowed

State Bank of India v. Revathy

DRT6 Jun 2025TA/1497/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application under Section 19 RDB Act for recovery of housing loan dues totaling Rs.22.36 lakhs. The Tribunal, finding no contravention due to ex-parte proceedings, granted the bank permission to recover via sale of the mortgaged property.

What did the court decide?

Order allowing recovery of Rs.22,36,211.52 with interest; liberty to sell scheduled immovable property upon default.

State Bank of India versus Revathy — Banking and Recovery | DRT (2025)

¶1

T.A. No. 1497 of 2023

¶2

06.06.2025

¶3

¶4

IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

¶5

Dated this the 06^th day of June, 2025

¶6

Present: SMT. S.V. GOWRAMMA Presiding Officer

¶7

TRANSFERRED APPLICATION No. 1497 of 2023

¶8

(Originally filed before DRT- II, Chennai as OA 533/2019 and thereafter transferred to this Tribunal and renumbered as TA No 1497 of 2023)

¶9

State Bank of India

¶10

Asset Recovery Management Branch No.44, Eldams Road, Teynampet, Chennai – 600 018 Rep. by its Chief Manager

¶11

….Applicant

¶12

-Vs-

¶13

Mrs. S. Revathy, W/o. S. Sivakumar, No.6, Sannathy Street, Anakaputhur, Chennai – 600 070

¶14

Mr. S. Sivakumar, S/o. Sekar No.6, Sannathy Street, Anakaputhur, Chennai – 600 070 …..Defendants

¶15

Counsels on record / appeared:

¶16

Counsel for Applicant : M/s. O. Padmaprakash

¶17

Defendants were set ex-parte on 20.10.2021

¶18

: - FINAL ORDER - :

¶19

This original application is filed on 25.04.2019 by the applicant bank

¶20

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 defendants for recovery of a total sum of Rs.22,36,211.52p

¶21

T.A. No. 1497 of 2023

¶22

¶23

06.06.2025

¶24

(Rupees Twenty Two Lakhs Thirty Six Thousand Two Hundred and Eleven and Fifty Two Paise Only) as follows:

¶25

(i) A sum of Rs.22,18,908.42p due in respect of Housing Loan

¶26

A/c No.65248320775 together with further interest thereon @ 9.60% p.a., with monthly rests from the date of application till the date of realization in full;

¶27

(ii) A sum of Rs.17,303.10p due in respect of Additional Housing Loan A/c No.65248321087 together with further interest thereon @ 9.70% p.a., with monthly rests from the date of application till the date of realization in full;

¶28

for sale of Schedule mentioned immovable property morefully detailed in Schedule to the OA and for costs of this application.

¶29

Originally, this Application was filed before DRT-II, Chennai, assigned OA No.533 of 2019, and thereafter in pursuance to the notification from Ministry of Finance, DFS dated 04.10.2022, OA No.533 of 2019 stood transferred to this Tribunal and renumbered as TA No.1497/2023.

¶30

Brief Facts of the case:

¶31

The Applicant submits that the application is filed within the period of limitation as prescribed under Section 24 of the Recovery of Debts and Bankruptcy Act, 1993, and the subject recovery claim falls within the jurisdiction of this Tribunal.

¶32

T.A. No. 1497 of 2023

¶33

¶34

06.06.2025

¶35

The Applicant Bank submits that the 1^st Defendant approached the Applicant during the year February 2016 seeking a housing loan for purchasing Flat No. flat no.S1, 2^nd floor, GGN Gudil Anbalayam at Plot No.81, Highways Nagar, Urapakkam, Chennai – 603 202, Adhanoor Village, Kancheepuram District, morefully described in schedule to OA.

¶36

It is submitted by applicant bank that considering the said request, a Housing Loan of Rs.17,00,000/- along with Rs.30,330/- towards funding a home loan insurance cover totaling to Rs.17,30,330/- was sanctioned to the 1^st defendant by the State Bank of Patiala, Ambal Nagar Branch by way of an arrangement letter dated 07.01.2016. The 2^nd defendant is the guarantor for the said loan availed by the 1^st defendant. The defendants executed the following documents towards the aforesaid loan:

¶37

i. Memorandum of agreement for home loan granted to public dated

¶38

07.01.2016 executed by the 1^st defendant.

¶39

ii. An agreement for additional housing loan for insurance premium amount dated 07.01.2016 for the additional loan of Rs.30,330/executed by the 1^st defendant.

¶40

iii. Guarantee agreement dated 07.01.2016 executed by the 2^nd defendant.

¶41

The dues under the aforesaid loan are secured by equitable mortgage

¶42

of the schedule property, belonging to the 1^st defendant, created by deposit

¶43

T.A. No. 1497 of 2023

¶44

06.06.2025

¶45

¶46

of title deeds made on 11.01.2016, confirmed by a memorandum relating to deposit of title deeds dated 11.01.2016, registered as document No.191 of 2016, in the office of the sub-register of Guduvancherry. The 1^st defendant deposited the following documents towards the said equitable mortgage:

¶47

i. Agreement for construction dated 17.12.2015 presented on 11.01.2016 for registration and registered as document no.189 of 2016, in the office of the sub-registrar of Guduvancherry.

¶48

ii. Sale deed dated 11.01.2016 registered as document No.190 of 2016 in the office of the sub-registrar of Guduvancherry, executed in favour of the 1^st defendant.

¶49

It is submitted by applicant bank that the 1^st defendant was never regular in repayment of the monthly installments and was making part payments on and off on various dates between 29.01.2016 and 22.03.2016.

¶50

It is further submitted by Applicant Bank that after availing the said facility, the defendants deliberately failed to repay the loan amount availed in spite of repeated demands and reminders by Applicant Bank. As defendants miserably failed to make repayments in the aforesaid loan account, the applicant bank classified the aforesaid loan account as NPA (Non-Performing Assets) on 01.06.2016, as per the guidelines issued by the RBI. The 1^st defendant executed a Revival Letter on 19.06.2018 towards

¶51

T.A. No. 1497 of 2023

¶52

06.06.2025

¶53

¶54

the loan availed by her. The Applicant Bank issued Demand Notice dated 13.04.2018 under Section 13(2) of the SARFAESI Act and subsequently issued Possession Notice under Section 13(4) of the SARFAESI Act on 26.06.2018 and the said Defendants have not bothered to repay the outstanding amount. Hence, this Original Application (OA) has been filed to recover the dues from the defendants.

¶55

After the filing of the OA, Summons were sent to Defendants 1 & 2 through Registered Post with Acknowledgement due, which returned unserved with the remarks ‘Intimation Delivered’. Applicant Bank had caused Paper Publication of Notice and filed proof thereof. When OA was taken up on 20.10.2021 even after giving sufficient time, there was no appearance or representation from the defendants. Hence, defendants were placed ex-parte on 20.10.2021.

¶56

Heard the submissions of Applicant Bank and perused the records.

¶57

To prove the case of the Applicant Bank, Mr. S. Suresh, Chief Manager of the Applicant Bank, has filed his Affidavit by way of evidence and same was considered as evidence of AW-1 and list of documents came to be marked as Ex A-1 to A-9 . As the defendants remained ex-parte, the OA claim remains unchallenged. There is no contra evidence available on record to repudiate the claim of the Applicant Bank.

¶58

T.A. No. 1497 of 2023

¶59

06.06.2025

¶60

¶61

With regard to the amount advanced, the interest applied, the conduct and operations in the account and the default committed, this Tribunal comes to the conclusion that the applicant bank is entitled for a final order on the following terms:

¶62

: O R D E R :

¶63

The OA is allowed with costs,

¶64

(a) The applicant bank is allowed to recover from the Defendants a sum of total sum of Rs.22,36,211.52p (Rupees Twenty Two

¶65

Lakhs Thirty Six Thousand Two Hundred and Eleven and

¶66

Fifty Two Paise Only) as follows:

¶67

(i) A sum of Rs.22,18,908.42p due in respect of Housing Loan A/c No.65248320775 together with further interest thereon @ 9.60% p.a., with monthly rests from the date of application till the date of realization in full and for sale of Schedule mentioned immovable property morefully detailed in Schedule to the OA and for costs of this application.

¶68

(ii) A sum of Rs.17,303.10p due in respect of Additional Housing Loan A/c No.65248321087 together with further interest thereon @ 9.70% p.a., with monthly rests from the date of application till the date of realization in

¶69

T.A. No. 1497 of 2023

¶70

06.06.2025

¶71

¶72

full and for sale of Schedule mentioned immovable property morefully detailed in Schedule to the OA and for costs of this application.

¶73

(b) In the event of failure of the Defendants to pay the aforesaid amount, the bank is at liberty to recover the amount by sale of the schedule mentioned immovable property morefully detailed in the OA;

¶74

¶75

(d) The applicant bank shall file the latest memo of calculation of OA amount together with interest, costs etc., to be paid by the defendants duly considering the amounts, if any, paid by the defendants 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 defendants to the applicant bank.

¶76

(e) The applicant bank shall file memo of costs within ten days from the date of receipt of this final order.

¶77

(f) Recovery Certificate shall be drawn up and issued to the Recovery Officer in terms of the final order.

¶78

A copy of this order be communicated to the parties concerned.

¶79

T.A. No. 1497 of 2023

¶80

¶81

06.06.2025

¶82

Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI

¶83

(Dictated to PS, transcribed by her, corrected, signed and pronounced by me on this the 06^th day of June, 2025)

¶84

ANNEXURES

¶85

WITNESSES EXAMINED FOR THE APPLICANT BANK :

¶86

AW-1: Mr. S. Suresh, Chief Manager of the Applicant Bank.

¶87

Exhibits on the part of the Applicant:

¶88

Sl. No.	Description of Documents	Exhibit No.
1.	Sanction Letter dated 07.01.2016	A-1
2.	Memorandum of Agreement of Home Loan granted to public dated 07.01.2016	A-2
3.	Agreement for additional housing loan dated 07.01.2016	A-3
4.	Guarantee Agreement dated 07.01.2016	A-4
5.	Notice under S.13(2) of SARFAESI Act with acknowledgement cards dated 13.04.2018	A-5
6.	Notice under S.13(4) of SARFAESI Act with acknowledgement cards dated 26.06.2018	A-6
7.	Revival letter dated 19.06.2018	A-7
8.	Statement of Accounts (Housing Loan) from 07.01.2016 to 15.04.2019	A-8
9.	Statement of Accounts (Additional Housing Loan) from 07.01.2016 to 15.04.2019	A-9

¶89

Witness Examined for the Defendants: -Nil-

¶90

List of Documents Exhibited for the Defendants: -Nil –

¶91

SCHEDULE

¶92

T.A. No. 1497 of 2023

¶93

¶94

06.06.2025

¶95

All that flat of an area of 670 sqft., bearing flat no.S1, 2^nd floor, GGN Gudil Anbalayam together with an undivided share of an area of 353 sqft., out of the land of an area of 1800 sqft., bearing Plot No.81, Highways Nagar comprised in Survey No.303/2B of Adhanoor Village, Sriperumbudur Taluk, Kancheepuram District, within the Sub-Registration District of Guduvancherry, Registration district of Chennai South, bound on the North by Plot No.80, South by Plot No.82, East by Vacant land and West by 23 feet road.

¶96

Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI

State Bank of India v. Revathy

Case brief

What is this about?

What did the court decide?

State Bank of India v. Revathy

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Punjab National Bank versus M/S Smart Guide And Connect Services Pvt. Ltd.

State Bank of India versus Valarmathi Shanmugam

State Bank of India versus Deepasandiya

State Bank of India versus Pandian

State Bank of India versus M/S Koghima Garments

State Bank of India versus Revathy