Allowed

State Bank of India v. Veekay Cashews

DRT6 Feb 2026MA/9/2026

Case brief

AI extract

What is this about?

The Tribunal allowed an application for condonation of a 100-day delay in re-presenting an original application for recovery of funds, relying on Madras High Court precedent due to loss of documents and circumstances beyond the bank's control.

What did the court decide?

Delay of 100 days condoned; applicant directed to pay Rs.1,000 to Legal Services Authority by 04.03.2026 and file compliance report.

State Bank of India versus Veekay Cashews — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 06^th day of February 2026

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Present: SMT. S.V. GOWRAMMA Presiding Officer

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M.A. No.09 of 2026 in OA Dy. No.2169/2024

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State Bank of India, Rep. by its Chief Manager, No.34, Sannathi Street, Jayakondam, Udaiyarpalayam (TK), Ariyalur – 621 802.

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...Applicant

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-Vs-

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M/s. Veeky Cashews,

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Rep. by its Proprietor Mr. Velayutham, No.01, Keeraikara Street, Udaiyarpalayam Taluk, Ariyalur – 621 804.

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Mr. Velayutham, S/o Kaliyaperumal, No.20/09, Maruthurvar Street, Udaiyarpalayam Taluk, Ariyalur – 621 802.

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…Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s. S. Rajesh

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ORDER IN MA No. 9/2026

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MA No. 9 of 2026 is taken up. This is an application filed by applicant

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bank for condonation of delay of 100 days in re-presenting the OA.

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Perused the Affidavit filed on behalf of the Applicant bank.

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It is submitted by applicant bank that the present OA was filed for recovery of sum of Rs.73,03,118/- together with interest and costs. It is submitted that the above OA was returned by the Registry for compliance

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of returns. It is submitted that the counsel’s father deceased on 10.02.2025 and bundle was misplaced during relocation of office to the next building, which could be traced out only at a later point of time. Hence OA could not be re-presented within the time granted by this Tribunal, which is neither wilful nor wanton, but only due to aforesaid reasons. Therefore, the applicant bank prayed for condonation of delay of 100 days in representing the OA.

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Perused the Affidavit filed on behalf of the Applicant bank and

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the records of the case.

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As OA is filed for recovery of money due from borrower and in view of the fact that the bank being a financial institution is the custodian of the public money held under trust, the Tribunal relying on the judgment of Hon’ble High Court of Madras (At Madurai) in the judgment of V.P.

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Rajula -Vs.- K.J. Sakadeva Raja reported in LAWS (MAD)-2020-8-

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441 feels it apt to condone the delay and give opportunity to applicant to prosecute their case.

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Accordingly, MA No.9/26 stands allowed and delay is condoned, subject to payment of cost of Rs.1,000/- to the Tamil Nadu State Legal Services Authority on or before 04.03.2026 by the applicant and to file the compliance report before the Registry.

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In case of the applicant complying with the order and filing compliance memo, Registry is directed to number the OA, if otherwise found to be in order. It is clarified that in case if the applicant bank fails to comply with the conditional order above, MA stand dismissed automatically without there being any need to pass separate order.

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Sd/-

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

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(Dictated to Steno (Mogesh), transcribed by him, corrected, signed and pronounced by me in Open Court, on this the 06^th day of February, 2026)

State Bank of India v. Veekay Cashews

Case brief

What is this about?

What did the court decide?

State Bank of India v. Veekay Cashews

Case brief

What is this about?

What did the court decide?

What the court decided

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