The DRT-II, Chennai allowed the bank's application for issuance of a recovery certificate for a housing loan default of Rs. 28,56,622.30 plus interest. The Tribunal rejected the claim for penal interest but awarded pendente lite interest at 7% p.a.
Issuance of Recovery Certificate for Rs. 28,56,622.30 plus 7% simple interest from filing date; costs awarded.
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.
BEFORE THE DEBTS RECOVERY TRIBUNAL –II AT CHENNAI
Dated this 20th day of November, 2025
PRESENT: SHRI SHARANG DHAR UPADHYAY PRESIDING OFFICER
TA No.235 of 2022
(Originally filed before DRT-I Chennai as OA No.233/2022 and thereafter transferred to this Tribunal and renumbered as TA No.235 of 2022)
State Bank of India Stressed Asset Recovery Branch Indian Red Cross Society Building No.32, Montieth Road Egmore, Chennai – 600 008 Represented by its City Case Officer …Applicant
Versus
Pradip Kumar Aich S/o Dilip Aich A-109, Courtyard, Hygrevar Apartment Jubilee Road, Chettipunniyam Chengalpet – 603 204
…Defendant
Counsels on Record / Appeared
Counsel for Applicant Bank : Mr. O. Padmaprakash Defendants ex-parte on 08.08.2023
FINAL ORDER
Recovery of Debts and Bankruptcy Act, 1993 against the defendant seeking issuance of a Recovery Certificate for recovery of a sum of
Rs.28,56,622.30p with further interest at the rate of 7.45% per annum with
1
monthly rests from the date of the application till the date of realisation along with costs of the application.
2
29.02.2020. As the defendant did not come forward to the outstanding dues, hence the present OA is filed for recovery of its dues.
These issues are considered together.
3
in evidence are all found admissible. The proof affidavit of the applicant bank remained unchallenged and rebutted. Therefore, on careful consideration of proof affidavit along with exhibits filed on behalf of the applicant bank, besides the material placed before the Tribunal, the Tribunal is satisfied that the applicant bank has successfully proved the OA claim against the defendant. Further, the statement of accounts in respect of the loan account produced and certified under the Banker’s Book Evidence Act, clearly indicates that the amount claimed by the applicant is due from the defendant. It is clear from the statement of accounts that penal interest is not capitalized.
4
disbursement of the loan, which the applicant is entitled to realize. Hence,
OA is disposed off in the following manner: -
(b) Applicant is permitted to realize a sum of Rs.28,56,622.30p with further interest @7% per annum (simple) from the date of filing of the application till the date of realization in full, from the defendant after deducting all the amounts received / realized by them during the pendency of OA and also by selling the schedule property and other assets of the defendant.
5
12. Communicate a copy of the order to the parties concerned in terms of
Section 19(21)(i) of the RDB Act, read with Rule 16 of DRT (Procedure)
Rules, 1993.
Sd/-
(SHARANG DHAR UPADHYAY ) PRESIDING OFFICER DRT-II, CHENNAI
(Dictated to PS, who typed in the system directly, corrected, signed and pronounced by me in Open Court, on this 20th day of November, 2025)
EXHIBITS MARKED BY APPLICANT BANK
| S. No. |
Date | Description of Documents | Exhibit Nos. |
|---|---|---|---|
| 1. | 11.04.2016 | Arrangement Letter | A-1 |
| 2. | 11.04.2016 | Memorandum of Agreement of Home Loan granted to public |
A-2 |
| 3. | 11.04.2016 | Agreement to mortgage by defendant | A-3 |
| 4. | 22.11.2019 | Confirmation letter by defendant | A-4 |
| 5. | 26.12.2016 | Memorandum of Deposit of Title deeds registered as Doc. No.12355 of 2016, SRO, Chengalpattu |
A-5 |
| 6. | 25.04.2016 | Lease deed No.4260/2016 between defendant and Mahinda Integrated Township Ltd., |
A-6 |
| 7. | 28.04.2016 to 23.12.2021 |
Statement of Accounts along with certificates under Bankers’ Book Evidence Act. |
A-7 |
Sd/- (SHARANG DHAR UPADHYAY) PRESIDING OFFICER DRT-II, CHENNAI
6
DESCRIPTION OF PROPERTY
Perpetual leasehold rights of the defendant in all that piece and parcel of residential flat of a carpet area 555 square feet corresponding to 652 square feet of built-up area, corresponding to 836 square feet of saleable area, bearing No.C2-708, Unit Type 2.5 BNK, 7th floor, Block, Name: C. Nova, Plot No.21, Second Avenue, Mahindra World City SEZ Kancheepuram – 603 004, together with an undivided share of land of an area of 150 square feet out of the total land area 25557 square feet, comprised in Survey Nos.78A/4H Part, 78A/41Part, 78A/4JPart, 78A/4K Part, 78A/4L Part, 78A/4M Part, 78A/4N Part, 78A/2W Part, 102/3 Part, 102/4E Part, 102 4D Part, 78/2R Part of Parunur Village, Chengalpattu Taluk, Kanchepuram District bounded on the North by Survey No.78/4H, 012/4D Part, 102/3 Part of Paranur Village, East by Survey No.102/4E, Part of Paranur Village, South by Survey No.78A/2W Part, 78A/4N Part of Paranur Village and West by Survey No.78A/2R Part of Paranur Village.
Sd/- (SHARANG DHAR UPADHYAY) PRESIDING OFFICER DRT-II, CHENNAI
7
2 issues framed by the court
Whether the applicant bank successfully proved the defendant's liability for the housing loan?
What order as to cost of the proceedings need be passed?
2 provisions across 1 enactments
State Bank of India Stressed Asset Recovery Branch
SHARANG DHAR UPADHYAY
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
