Tribunal directed first defendant to furnish security under RDB Act, failing which properties will be attached, while keeping merits of deposit application open.
First respondent directed to furnish security of Rs.20,41,40,608.11 within 15 days; failing which, properties in schedule attached. Conditional attachment ordered.
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.
IA 858/25 & 1652/25 in TA 1726/2023
22.07.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 22nd day of July, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
IA No.858 of 2025 and I.A. No.1652 of 2025
in
T.A. No. 1726 of 2023
IDBI Bank Limited
No.115, Anna Salai Saidapet, Chennai – 600 015 Rep. by its Deputy General Manager
….Applicant
-Vs-
IA 858/25 & 1652/25 in TA 1726/2023
22.07.2025
2
Mylapore, Chennai – 600 004
Counsels on record / appeared:
Counsel for Applicant : M/s NVS Associates
: - ORDER ON IA NOs. 858 of 2025 & 1652 of 2025 - :
Defendants, seeking for recovery of money due from Defendants jointly
and severally to pay a sum of Rs.20,41,40,608.11p (Rupees Twenty
Crores Forty One lakhs Forty Thousand Six Hundred and Eight and
Eleven Paise only) due as on 01.02.2021 together with further interest and costs.
IA 858/25 & 1652/25 in TA 1726/2023
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IA schedule mentioned property and IA No.858 of 2025 praying to direct the 1st defendant to furnish security equivalent to the claim of the applicant bank, failing which, to pass an order of attachment of all the properties detailed in the schedule to IA, pending disposal of the above OA.
IA 858/25 & 1652/25 in TA 1726/2023
22.07.2025
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running its office at New No.112, Old No.37 A, Sembudas Street, George Town, Chennai wherein a commercial complex is constructed by BSNL.
Heard the counsel for applicant bank and perused the records of produced along with the IA.
IA 858/25 & 1652/25 in TA 1726/2023
22.07.2025
5
“ Where, at any stage of the proceedings, [the Tribunal on
an application made by the applicant along with particulars of property to be attached and estimated value thereof, or otherwise is satisfied] that the defendant, with intent to obstruct or delay or frustrate the execution of any order for the recovery of debt that may be passed against him
(i)is about to dispose of the whole or any part of his property; or
(ii)is about to remove the whole or any part of the property from the local limits of the jurisdiction of the Tribunal; or
(iii)is likely to cause any damage or mischief to the property or affect its value by misuse or creating third party interest,
the Tribunal may direct the defendant, within a time to be fixed
by it, either to furnish security, in such sum as may be specified
in the order, to produce and place at the disposal of the Tribunal, when required, the said property or the value of the
IA 858/25 & 1652/25 in TA 1726/2023
22.07.2025
6
same, or such portion thereof as may be sufficient to satisfy the certificate for the recovery of debt, or to appear and show cause why he should not furnish security.
(B)Where the defendant fails to show cause why he should not furnish security, or fails to furnish the security required, within the time fixed by the Tribunal, the Tribunal may order the attachment of the whole or such portion of the properties claimed by the applicant as the properties secured in his favour or otherwise owned by the defendant as appears sufficient to satisfy any certificate for the recovery of debt.”
:ORDER:
In the circumstances pleaded, 1st defendant is hereby directed to show cause as to why they should not furnish security to the tune of Rs.20,41,40,608.11p, within 15 days from the date of receipt of this order, failing which to attach the schedule mentioned properties owned by 1st defendant morefully detailed in IA 858/25 and 1652/25 to answer the OA claim herein.
IA 858/25 & 1652/25 in TA 1726/2023
22.07.2025
7
Meanwhile, conditional attachment of the petition schedule mentioned properties (IA 858/25 and 1652/25) are ordered to secure the dues of the applicant bank.
Sd/-
(S.V. GOWRAMMA)
PRESIDING OFFICER, DRT-III, CHENNAI
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me on this the
22nd day of July, 2025)
:- SCHEDULE OF PROPERTIES -:
IA No.1652/2025
A – SCHEDULE
Trichirapali District, Trichirapalli Taluk, Trichy Registration District, Tiruchirapalli Joint I & II Sub-Registration District, Tiruchirapalli Corporation, Royal Road within Old Ward-I, Block-25, Old T.S. No.142 part & 144 part, New Ward K, New Block-17, New T.S. No.24, within an extent of 15,650 sq.ft. and subsequently subdivided as New T.S. No.24/1, bounded on the
East by : Old T.S. No.143 & 142 Part
South by : Old T.S. No.144 Part
IA 858/25 & 1652/25 in TA 1726/2023
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22.07.2025
West by : Old T.S. No.145 (Road)
North by : Old T.S. No.141/2
Within this an extent of 3914.5 sq.ft. on the southern side was allotted to one Mrs. Prema already and the balance area of 11735 sq.ft. bounded on the
East by : Property in Old T.S. No.143 & 142 Part belonging to third parties
South by : Property belonging to Mrs. Prema & Compound Wall Lying east to west belonging to Mrs. Prema
West by : South to North Road
North by : Property belonging to VISHAGAM APARTMENTS
East to West 181’6’ on the North 174.6’ on the South, North to South 67’4’ on the East, 63’4’ on the West (excluding the compound). Measuring in all 11,735 sq.ft. of vacant site and also together with all pathway and easement rights.
B – SCHEDULE
An undivided 4425 sq.ft. of vacant land mentioned in ‘A’ Schedule of total extent of 11,735 sq.ft. comprised in T.S. No.24/1 New Ward-K, New Block-17 of Trichy Taluk and the constructed commercial complex in First Floor of Plinth Area 2547 sq.ft., Second Floor of Plinth Area 2410 sq.ft., Third Floor of Plinth Area 2410 sq.ft., Fourth Floor of Plinth Area 1660 sq.ft. Totally 9027 sq.ft. Door No.9/3, 9/4, 9/5, 9/6, 9/7, 9/8, 9/9, Royal Road (M.K.T. Road) in Schedule ‘A’ Property and all other easementry rights pertaining thereto is conveyed by this deed. Tax Assessment No. 11552, 11553, 11554, 11555, 11556, 11557, 11558, EB Service No: 43, 374, 376, 377, 379, 380, 382.
IA 858/25 & 1652/25 in TA 1726/2023
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22.07.2025
The market value of the property is Rs. 3,90,00,000/-
This Property lies within Tiruchirapalli Corporation.
IA No.858/2025
SCHEDULE
Vacant site being part of House, Ground and Premises present No. 3 former No. 5 in Mclean Street (which comprises of former Door No. 4/166, Broadway, Madras) with R.S.No.11524 extent 8 grounds 1205 sq.ft. and former No.6, Goomes Street, with R.S.No.11525 of extent 2301 sq.ft. totalling 9 grounds and 1706 sq.ft. and now being part of R.S.No.11524, and bounded on the:
North by : Land and Building owned by the Vendor Bank
South by : Goomes Street
East by : Sembudoss Street
West by : Land and Buildings of the Vendor Bank
Admeasurement 2400 sq.ft. comprised in part of R.S.No.11524 and situate within the Registration District of Madras and Sub Registration District of North Madras.
Sd/-
(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI
2 issues framed by the court
Whether the Tribunal is justified in directing the defendant to furnish security or face attachment of properties pending adjudication of the deposit application.
Whether a prima facie case exists warranting an ad-interim attachment before judgment to secure recovery of the debt.
2 provisions across 1 enactments
IDBI Bank Limited
The Government Telecommunication Employees' Co-operative Society Limited
Union Bank of India
Andhra Bank
City Union Bank
State Bank of India
S.V. GOWRAMMA
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
