The Debt Recovery Tribunal allowed the bank applicant's original application for recovery of Rs.85,60,858/- along with interest, costs, and power to sell mortgaged and other assets as the defendants were present ex-parte.
Recovery of Rs.85,60,858/- plus interest at 13.75% p.a., costs, and power to sell mortgaged and personal assets.
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.
T.A. No. 1574 of 2023
19.12.2025
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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 19th day of December, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
TRANSFERRED APPLICATION No. 1574 of 2023
(Originally filed before DRT- II, Chennai as OA 534/2018 and thereafter transferred to this Tribunal and renumbered as TA No 1574 of 2023)
Punjab National Bank (Erstwhile Oriental Bank of Commerce) Circle Sastra Centre, Chennai South No. 46 – 146 PNB Towers, Royapettah High Road, Royapettah, Chennai – 600 014 Rep. by its Chief Manager
….Applicant
* (Amended vide order in memo dated 05.08.2021 in view of merger)
-Vs-
Chennai – 600 003. ….Defendants
Counsels on record / appeared:
Counsel for Applicant : M/s E. Kumar
Defendants 1 and 2 were set ex-parte on 30.11.2021
: - FINAL ORDER - :
Oriental Bank of Commerce (since merged with Punjab National Bank) under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 (formerly Recovery of Debts Due to Banks and Financial Institutions Act,
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Brief Facts of the case:
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was availed by the first and second Defendants Loan Account No.05355015001711 from the Applicant Bank. The Overdraft Credit facilities was sanctioned by Overseas Branch at No.634, GF-2, Karumuttu Centre, Anna Salai, Nandanam, Chennai-600 035 now the account transferred to its Cluster Office – Resolution, Recovery and Law Branch at No.63, Dr. Radhakrishnan Salai, Mylapore, Chennai-600 004 represented by its Senior Manager.
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1 and 2 through Registered Post with Acknowledgment Due, which was duly served in respect of D-1 and D-2. Although the defendants entered appearance through their counsel and filed vakalat, did not choose to file written statement despite availing sufficient opportunities. When OA was taken up on 30.11.2021 even after giving sufficient time, there was no appearance or representation from the defendants. Hence, Defendants 1 and 2 were placed ex-parte on 30.11.2021.
Heard the submissions of Applicant Bank and perused the record s.
: O R D E R :
(a) The applicant bank is allowed to recover from the Defendants jointly and severally, for recovery of a total sum of Rs.
85,60,858/- (Rupees Eighty Five Lakhs Sixty Thousand
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Eight Hundred Fifty Eight only) due in respect of Overdraft Facility (Account No.05355015001711) repayable together with further interest @ 13.75 % p.a., with monthly rests from the date of Application till the date of realization in full and for costs of this application.
(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 schedule.
(c) Schedule mentioned immovable property shall be appended to this final order.
(d) If the sale proceeds of the immovable property is not sufficient to satisfy the dues as ordered above, the applicant bank is at liberty to sell the personal assets of the Defendants (both movable and immovable) to recover the balance dues as required under law for which the Defendants to disclose to the Tribunal particulars of other property or assets owned by the Defendants.
(e) 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 Defendant 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.
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(f) The applicant bank shall file memo of costs within ten days from the date of receipt of this final order.
(g) Recovery Certificate shall be drawn up and issued to the Recovery Officer in terms of the final order.
Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI
(Dictated to Steno (Arti), transcribed by her, corrected, signed and pronounced by me on this the 19th day of December, 2025)
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ANNEXURES
WITNESSES EXAMINED FOR THE APPLICANT BANK :
AW-1: Sh. P.Mahendran, Chief Manager representing the Applicant Bank
Exhibits on the part of the Applicant:
| Sl. No. |
Description of Documents | Exhibit No. |
|---|---|---|
| 1. | Loan Application – Cum Appraisal / Sanction form for all Retail Schemes. |
A-1 |
| 2. | Sanction of Credit facilities under Oriental Mortgage Loan scheme dated 01.11.2013 |
A-2 |
| 3. | Agreement of Term Loan for Immovable property dated 01.11.2013 |
A-3 |
| 4. | Agreement of Overdraft dated 01.11.2013 | A-4 |
| 5. | Common Agreement dated 01.11.2013 | A-5 |
| 6. | Letter of deposit of Title Deeds dated 07.11.2013 | A-6 |
| 7. | Registered Memorandum of Deposit of Title Deeds (Registered Document No. 9058/2013) |
A-7 |
| 8. | Renewal of Credit Facilities dated 01.03.2015 | A-8 |
| 9. | Appraisal cum Sanction form for Oriental Mortgage Loan dated 01.03.2015 |
A-9 |
| 10. | Renewal of Credit Facilities dated 28.02.2016 | A-10 |
| 11. | Appraisal cum Sanction form for Oriental Mortgage Loan dated 28.02.2016 |
A-11 |
| 12. | Balance and Security Confirmation duly signed by the 1stand 2ndDefendant dated 26.03.2015 |
A-12 |
| 13. | Balance and Security Confirmation duly signed by the 1stand 2ndDefendant dated 10.05.2016 |
A-13 |
| 14. | Recall notice u/s. 13(2) of SARFAESI Act dated 14.03.2017 |
A-14 |
| 15. | Possession Notice dated 22.08.2017 | A-15 |
| 16. | Statement of Account | A-16 |
Witness Examined for the Defendants: -Nil-
List of Documents Exhibited for the Defendants: -Nil –
:- SCHEDULE -:
All that piece and parcel of land and building bearing Survey No.84/4A as per Sub-Division Survey No.84/4A2 of Valayampet Village,
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Vaniyambadi Taluk, Vellore District, admeasuring a total extent of 27032 sq.ft. bounded on the
North by: Property belonging to KAK Anwar Sahib;
South by: Property belonging to AM Saleem Sabib;
East by: Property belonging to KAK Anwar Sahib; and
West by: Common Pathway
In this middle above said 27032 sq.ft.(or) 2511.3 Sq.Mtrs site with A.C.C. building together with electric service connection including the security deposit, well and together with the right to use the passage leading to the main road situate within the Sub-Registration district of Vaniyambadi and Registration District of Vellore.
Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI
2 issues framed by the court
Whether the debtor defendants are liable to repay the outstanding dues along with interest.
Whether the relief sought for recovery of the overdraft amount and interest is admissible under Section 19 of RDB Act.
1 provisions across 1 enactments
Punjab National Bank (Erstwhile Oriental Bank of Commerce)
Mr. G.M. Sajjad Parvez
Mrs. C.L. Zehra Bathool
S.V. Gowramma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
