Allowed

State Bank of India v. Vikas

DRT25 Nov 2025TA/1578/2023

Case brief

AI extract

What is this about?

DRT-III, Chennai allowed a recovery application filed by State Bank of India against G. Vikas for a home loan default of Rs. 12,04,890/- plus interest. The defendant appeared ex-parte. The Tribunal sanctioned recovery of dues and sale of mortgaged property if payment is not made.

What did the court decide?

Recovery of Rs. 12,04,890/- with 10.55% p.a. interest from date of filing, costs, and liberty to recover by sale of schedule property.

State Bank of India versus Vikas — Contract and Commercial Disputes | DRT (2025)

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T.A. No. 1578 of 2023

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25.11.2025

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 25^th day of November, 2025

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Present: SMT. S.V. GOWRAMMA Presiding Officer

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TRANSFERRED APPLICATION No. 1578 of 2023

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(Originally filed before DRT- II, Chennai as OA 575/2019 and thereafter transferred to this Tribunal and renumbered as TA No 1578 of 2023)

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State Bank of India, Asset Recovery Management Branch, By its Chief Manager, Lakshmy Iyyar W/o. Narayan Iyyar, No.4/1, Balavinayaga Building, Eldams Road, Alwarpet, Chennai 600 018. ….Applicant

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-Vs-

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G. Vikas S/o Gopalakrishnan, A1, Kudil Anbalaya, Manakula Vinayagar Street, Kailasa Nagar, ECR Road, Pondicherry -605 008

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Also at

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G. Vikas S/o Gopalakrishnan, Bharti Airtel Ltd., No.3 Mariammal Kovil Street, Ellaipillai Chavady, Puducherry -605 005

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Also at

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G. Vikas S/o Gopalakrishnan, Prasanthi, Kunnah PO Mavelikara, Kerala -690 108 …..Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s. S.R. Sumathy Defendant was set ex-parte on 08.10.2021

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: - FINAL ORDER - :

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This Original Application is filed on 30.04.2019 by the applicant bank

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under Section 19 (1) of Recovery of Debts and Bankruptcy Act, 1993

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T.A. No. 1578 of 2023

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25.11.2025

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(formerly Recovery of Debts Due to Banks and Financial Institutions Act, 1993) against the defendant for recovery of a total sum of Rs.12,04,890/-

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(Rupees Twelve Lakhs Four Thousand Eight Hundred and Ninety

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Only) due in respect of SBI Easy Home Loan (A/c No.31727769243), repayable together with further interest @ 10.55% p.a. with monthly rests from the date of filing the OA, till date of realization in full, for sale of immovable property morefully detailed in the schedule to the OA and for costs of this application.

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Originally, this Application was filed before DRT-II, Chennai, assigned OA No.575 of 2019, and thereafter in pursuance to the notification from Ministry of Finance, DFS dated 04.10.2022, OA No.575 of 2019 stood transferred to this Tribunal and renumbered as TA No.1578 of 2023.

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Brief Facts of the case:

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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.

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It is the case of the applicant bank that the defendant had approached the applicant bank seeking financial assistance for purchase of house morefully detailed in the schedule to the OA. Considering the said request, applicant bank had granted Home Loan Facility to the tune of Rs.19,90,000/- (Rupees Nineteen Lakhs and ninety thousand only), which was since availed by the defendant from the State Bank of India, RASMECC

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T.A. No. 1578 of 2023

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25.11.2025

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Branch, Pondicherry which eventually migrated to the ARM Branch of Applicant Bank.

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It is submitted by the applicant bank that the defendant had duly accepted the terms and conditions of the aforesaid sanction and availed the aforesaid loan. The defendant executed Memorandum of Loan Agreement, Arrangement Letter, and Affidavit on 01.04.2011. Further the defendant deposited the original title deeds on 15.09.2011, issued letter of confirmation of deposit of title deeds on 16.09.2011 and also created a registered memorandum of Deposit of Title Deeds on 16.09.2011 (Document No.4037/2011) over the properties at Reddiarpalalyam village, Pondicherry.

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The applicant bank submits that the defendant agreed that the loan amount shall be repaid with interest at the rate of 1.50% above the Base Rate.

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However, subsequent to availing of loan, the defendants did not make repayments as per the terms of contract. The applicant bank had been repeatedly requesting the Defendant to settle the dues. In fact, the applicant bank had several rounds of discussions with the defendant about the regularization of the loan accounts but of no avail. However, the defendant did not come forward to discharge the liability or take any concrete steps to address the debt due to the applicant bank. Consequently, the loan account of the defendant was classified as Nonperforming Asset (NPA) as on 30.09.2016 in accordance with RBI guidelines.

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T.A. No. 1578 of 2023

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25.11.2025

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The applicant bank through its Authorised Officer had issued statutory Demand Notice on 01.10.2016 under SARFAESI Act followed by the Possession Notice on 25.04.2017. The defendant failed to discharge the liability. In view of the aforesaid financial irregularities, there is a remote chance of the defendant turning around and repaying the huge dues of the applicant bank. Hence, the present Original Application (OA) has been filed by the applicant bank for recovery of its dues from the defendant.

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After the filing of the OA, summons was sent to the Defendant through Registered Post with Acknowledgment Due, summon to sole defendant returned with the remarks ‘Left’. Applicant bank had caused paper publication of the notice and filed proof thereof. When OA was taken up on 08.10.2021 even after giving sufficient time, there was no appearance or representation from the defendant. Hence, defendant was placed ex-parte on 08.10.2021.

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Heard the submissions of Applicant Bank and perused the records.

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To prove the case of the Applicant Bank, Sh. T.S.V. Ramana, Chief Manager representing 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-17 . As the defendant remained ex-parte, the OA claim remains unchallenged. There is no contra evidence available on record to repudiate the claim of the Applicant Bank.

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T.A. No. 1578 of 2023

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25.11.2025

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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:

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: O R D E R :

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The OA is allowed with costs,

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(a) The applicant bank is allowed to recover from the Defendant a total sum of Rs.12,04,890/- (Rupees Twelve Lakhs Four Thousand Eight Hundred and Ninety Only) due in respect of SBI Easy Home Loan (A/c No.31727769243), repayable together with further interest @ 10.55% p.a. with monthly rests from the date of filing the OA, till date of realization in full, along with costs.

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(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 more fully detailed in the OA.

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(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.

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T.A. No. 1578 of 2023

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(e) The applicant bank shall file memo of costs within ten days from

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the date of receipt of this final order.

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(f) Recovery Certificate shall be drawn up and issued to the

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Recovery Officer in terms of the final order.

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

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

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(Dictated to Steno (Suriya), transcribed by him, corrected, signed and pronounced by me on this the 25^th day of November, 2025)

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ANNEXURES

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WITNESSES EXAMINED FOR THE APPLICANT BANK :

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AW-1: Sh. T.S.V. Ramana, Chief Manager representing the Applicant Bank.

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Exhibits on the part of the Applicant:

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Sl. No.	Description of Documents	Exhibit No.
1.	Loan application dated 15.02.2011.	A-1
2.	Arrangement Letter dated 01.04.2011.	A-2
3.	Operation Letter dated 01.04.2011.	A-3
4.	Memorandum of Loan Agreement for Home Loan granted to public dated 01.04.2011.	A-4
5.	Deed of Undertaking dated 01.04.2011.	A-5
6.	Agreement to Mortgage dated 01.04.2011.	A-6
7.	Consent Letter dated 01.04.2011.	A-7
8.	Affidavit dated 01.04.2011.	A-8
9.	Forwarding Letter dated 17.02.2011.	A-9
10.	Construction Agreement between M/s Jeayam Shelters (P) Ltd rep. by its Chairman B. Sampathy Kumar G. Vikas dated 30.01.2011.	A-10
11.	Registered Sale Deed executed by M/s Metal Impex by its Managing Director Kamlesh S. Jain	A-11

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	by POA P.K. Sathya Prakash in favour of G. Vikas (3016/2011) dated 08.06.2011.
12.	Equitable Mortgage confirmation dated 16.09.2011.	A-12
13.	Registered Memorandum of Deposit of Title Deed (4037/2011) dated 16.09.2011.	A-13
14.	Letter from the defendant to AGM, Rasmeccc, SBI, Puducherry dated 25.10.2016.	A-14
15.	Demand Notice dated 01.10.2016.	A-15
16.	Possession Notice dated 25.04.2017.	A-16
17.	Statement of Accounts (31727769243) dated 12.05.2011 to 10.04.2019.	A-17

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Witness Examined for the Defendants: -Nil-

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List of Documents Exhibited for the Defendants: -Nil –

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SCHEDULE OF PROPETY

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Pondicherry R.D., Oulgaret S.D. Reddiarpalayam village, within Oulgaret Municipality limits.

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Schedule A

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Extent of 64560 sq.ft., comprised in Cadastre no.81/1/3 part, 81/2/3 and 81/3/3 now assigned as Resurvey no.134/1, 134/4 as per patta no.18 and 563 -64560 sq.ft., in that 15825 sq.ft., within the boundaries of East by 30’ road,

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West by S No.113, 134/2 and 134/3,

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South by S.No.133

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North by S.No.122 and 135

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Schedule B

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15825 sq.ft of undivided share of land from and out of the 64560

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sq.ft.,

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Schedule C

436 sq.ft., of undivided share of land from and out of Schedule B property.

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Schedule D

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Flat No.144, IV Floor, I Block measuring 960 sq.ft., including common

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area.

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

State Bank of India v. Vikas

Case brief

What is this about?

What did the court decide?

State Bank of India v. Vikas

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

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Case details

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