Allowed

Indian Bank v. Vijeyendra Kumar

DRT15 Sept 2025TA/809/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the Original Application filed by Indian Bank for recovery of a home loan. The court held the claim valid as it was within the limitation period. Proceeds from a prior asset sale were credited, and the bank was directed to draw a Recovery Certificate for the balance amount.

What did the court decide?

A final order allowing recovery of Rs.60,90,494/- along with interest at 8.75% p.a. from the date of OA filing, costs, and issuance of a Recovery Certificate.

Indian Bank versus Vijeyendra Kumar — Money Laundering | DRT (2025)

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T.A. No. 809 of 2023

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15.09.2025

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 15^th day of September, 2025

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Present: SMT. S.V. GOWRAMMA Presiding Officer

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TRANSFERRED APPLICATION No. 809 of 2023

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(Originally filed before DRT- II, Chennai as OA 190/2020 and thereafter transferred to this Tribunal and renumbered as TA No 809 of 2023)

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Indian Bank,

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East Abhiramapuram Branch, No.111, Luz Church Road, Mylapore, Chennai -600 004, Rep. by its Branch Manager. ….Applicant

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-Vs-

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Mr. P.N. Vijeyendra Kumar, Villa ‘B’ Gopinath Dreams,

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Gopinath 1^st Main Road,

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S.N. Nagar, Vettuvankeni,

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Chennai -115.

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Mrs. V. Dhanalakshmi,

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Villa ‘B’ Gopinath Dreams, Gopinath 1^st Main Road,

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S.N. Nagar, Vettuvankeni,

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Chennai -115. …..Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s. R. Ramakrishnan

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Defendants 1 and 2 were set ex-parte on 19.05.2022

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: - FINAL ORDER - :

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This Original Application is filed on 30.01.2020 by the applicant bank under Section 19 (1) of Recovery of Debts and Bankruptcy Act, 1993 (formerly Recovery of Debts Due to Banks and Financial Institutions Act, 1993) against the defendants jointly and severally for

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recovery of a total sum of Rs.60,90,494/- (Rupees Sixty Lakhs

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T.A. No. 809 of 2023

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15.09.2025

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Ninety Thousand Four Hundred and Ninety Four Only) due in

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respect of Home Loan (A/c No.6500522323), repayable together with further interest @8.75%, 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.190 of 2020, and thereafter in pursuance to the notification from Ministry of Finance, DFS dated 04.10.2022, OA No.190 of 2020 stood transferred to this Tribunal and renumbered as TA No.809 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 1^st defendant is the borrower of Home loan from the Bank and 2^nd defendant is the guarantor for the said loan. The defendants had offered the schedule mentioned property as security towards the home loan availed by them.

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It is submitted by the applicant bank that the defendants had approached the bank and borrowed loan of Rs.50,92,000/- with interest payable at the rate of 8.85% per annum with monthly rests, under the

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T.A. No. 809 of 2023

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15.09.2025

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Home Loan from the applicant bank and the repayment of the said loan is secured by mortgage of schedule property, i.e., all that the piece and parcel of land and Building bearing Flat No.S-2, Second Floor “Sai Krupa”, Sree Ambal Nagar, Chennai-600 100 bearing Plots Nos.34 & 35, Old Survey No.215/2 and 216/1, New Survey No.215/2H & 216/1C situated within the Registration District of Chennai South and Sub Registration District of Saidapet-Joint I, situated in Pallikaranai Village, Tambaram Taluk, Kancheepuram District, measuring UDS of 471 sq.ft., out of 3000 sq.ft., of land together with built up area measuring 965 sq.ft.,

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It is further submitted that the defendants had executed all the loan documents of Term loan Agreement dated 02.02.2017, Agreement of guarantee dated 02.02.2017, Letter from Party confirming creation of Equitable Mortgage, Letter of Authority from Borrower in favour of the Applicant Bank and mortgaged the property under the Memorandum of deposit of title deeds dated 03.02.2016 vide Doc.No.928/2017 SRO Joint-I, Saidapet, Chennai South.

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Applicant Bank submitted that subsequent to availing of loan, the defendants had failed and committed default in the payment of above said loan amount despite repeated demands and reminders. Consequently, the loan account has been classified as Non-Performing Asset (NPA) on 31.05.2018 in accordance with directions/guidelines relating to assets classifications issued by the Reserve Bank of India. The applicant bank through its Authroised Officer had issued Demand

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T.A. No. 809 of 2023

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15.09.2025

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Notice dated 06.06.2018 under section 13(2) of the SARFAESI Act to the defendants, despite which the defendants failed to repay the outstanding amount. Hence the present Original Application (OA) has been filed by the applicant bank for recovery of its dues from the defendants.

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After the filing of the OA, summons were sent to the Defendants 1 and 2 through Registered Post with Acknowledgment Due, which was returned with postal endorsement as “Addressee Moved”. Applicant bank had caused paper publication of the notice and filed proof thereof. When OA was taken up on 19.05.2022 even after giving sufficient time, there was no appearance or representation from the defendants. Hence, defendants 1 and 2 were placed ex-parte on 19.05.2022.

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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. Vipul Agarwal, Branch 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-6 . 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.

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During the pendency of OA, at the time of filing Proof Affidavit, Applicant Bank had reported part satisfaction of OA claim in a sum of

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T.A. No. 809 of 2023

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15.09.2025

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Rs.32,00,000/- by way of sale of Schedule immovable property under SARFAESI Act to one Mrs. S. Shanthi vide Sale Certificate dated 06.01.2022.

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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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12. The OA is allowed with costs,

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(a) The applicant bank is allowed to recover from the Defendants a total sum of Rs.60,90,494/- (Rupees Sixty Lakhs Ninety Thousand Four Hundred and Ninety Four Only) due in respect of Home Loan (A/c No.6500522323), repayable together with further interest @8.75%, 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) The sum of Rs.32 lakhs realised by way of SARFAESI sale is directed to be given credit to the borrower’s loan account as on the date of realisation.

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(c) If the sale proceeds of the mortgaged 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

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T.A. No. 809 of 2023

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15.09.2025

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under law for which the Defendants to disclose to the Tribunal particulars of other properties or assets owned by the Defendants.

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(d) The applicant bank shall file the latest memo of calculation

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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

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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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(e) The applicant bank shall file memo of costs within ten days from 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 15^th day of September, 2025)

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ANNEXURES

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WITNESSES EXAMINED FOR THE APPLICANT BANK :

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AW-1: Sh. Vipul Agarwal, Branch Manager representing the Applicant

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Bank.

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T.A. No. 809 of 2023

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15.09.2025

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Exhibits on the part of the Applicant:

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Sl. No.	Description of Documents	Exhibit No.
1.	Agreement Term Loan for Housing Loan dated 02.02.2017.	A-1
2.	Agreement of Guarantee dated 02.02.2017.	A-2
3.	Construction Agreement Doc.No.926 of 2017 dated 28.12.2016.	A-3
4.	Sale Deed vide Doc.No.927 of 2017 dated 03.02.2017.	A-4
5.	Memorandum of deposit of title deeds vide Doc.No.928/2017 dated 03.02.2017.	A-5
6.	Statement of Accounts dated 27.01.2020.	A-6
7.	Power of Attorney dated 23.08.2022.	A-7

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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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Sd/-

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

Indian Bank v. Vijeyendra Kumar

Case brief

What is this about?

What did the court decide?

Indian Bank v. Vijeyendra Kumar

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

Parties & counsel

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Case details

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