The Tribunal allowed the Application seeking a Recovery Certificate for a housing loan default. Facts were unchallenged. Recovery was granted with reduced interest.
Recovery Certificate issued; recovery of Rs.1,71,00,774/- with future interest at 8% p.a.; execution against schedule property.
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.
IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA AT BENGALURU
Dated this 31th Day of July 2026
Present: Sri. T. RAJESH Presiding Officer
OA. No.1076/2024
BETWEEN:
State Bank of India Stressed Assets Recovery Branch, 1/90, 3rd Floor, Near Old Shivaji Theatre, Opp: Trustwell Hospital, J.C. Road, Bangalore-560002.
… APPLICANT
AND:
Sri. Sai Krishna Gouru Flat No.201, Muttena Building Deira, Dubai-5600001 United Arab Emirates
Also at:
No.1-96 Krishnaraopet, Veigatoor Karimnagar-505526 Telangana State.
...DEFENDANT
Counsel on record/appeared for: Applicant : Sri.Vijay.S Defendant : Exparte
2 OA No.1076/2024
: FINAL ORDER:
3 OA No.1076/2024
ii) What order are to be passed?
Both these issues are gone into and decided together.
4 OA No.1076/2024
Taking into consideration the facts that the credit facility was 12. availed for Housing Loan and also that OA claim is arrived at by calculating interest at the agreed rate, this Tribunal in view of the OA can be allowed with a reduced interest of 8.00% p.a.(simple).
In the result, OA.No.1076/2024 stands allowed, 13.
i) The applicant is allowed to recover an aggregate sum of for Rs.1,71,00,774/- (Rupees One Crore Seventy-One Lakhs Seven Hundred and Seventy-Four Only) along with current and future interest 8.00% p.a.(simple) till the date of realization, from the defendant, after giving credit to all the amounts recovered and received during the pendency of the OA if any, and allowed the same to be recovered by proceeding against
the schedule property. The schedule property to the OA be the schedule property to the Recovery Certificate.
ii) If the sale proceeds are not found sufficient to cover the
amount due and payable to the applicant bank, the defendant and his other assets are liable for all such amounts due in loan account.
5 OA No.1076/2024
iii) The applicant bank is allowed cost of the proceeding which
applicant to file cost memo within 7 days from the date of receipt of the order.
iv) The Recovery Certificate to be drawn in terms of this order and
transferred to Recovery for execution.
v) Interim Application pending, if any, stands disposed of with
this Final Order.
of Section 19(21)(i) of the RDB Act, read with Rule 16 of DRT (Procedure)
Rules, 1993.
[Dictated to the Stenographer (GS), transcribed by her, corrected and signed and pronounced by me in the Open Court, this the 31st Day of July 2026].
Sd/(T. RAJESH) PRESIDING OFFICER
ANNEXURES
WITNESSES EXAMINED FOR THE APPLICANT BANK:
AW-1: Sri.Jithin Rajagopal, Branch Manager of the applicant bank.
| Sl. No. |
Description of Documents | Date | Exhibit Number |
|---|---|---|---|
| 1. | Loan Application | 20.03.2023 | A1 |
| 2. | Arrangement letter issued by the Applicant Bank |
23.05.2023 | A2 |
6 OA No.1076/2024
| 3. | Memorandum of Loan Agreement for Home Loan granted to public executed by Defendant in favor of the Applicant Bank |
23.05.2023 | A3 |
|---|---|---|---|
| 4. | Agreement to Mortgage executed by the Defendant in favour of the Applicant Bank. |
23.05.2023 | A4 |
| 5. | Memorandum of Deposit of Title Deeds executed by Defendant in favour of the Applicant Bank. (Document No.1745/2023- 24) |
30.05.2023 | A5 |
| 6. | Deed of Undertaking executed by Defendant in favour of the Applicant Bank. |
23.05.2023 | A6 |
| 7. | Indemnity Bond executed by Defendant in favour of the Applicant Bank |
23.05.2023 | A7 |
| 8. | Legal Notice issued by the Applicant Bank to the Defendant |
11.012024 | A8 |
| 9. | Statement of Account (A/c No.419393385002 | A9 |
Sd/(T. RAJESH) PRESIDING OFFICER
2 issues framed by the court
Whether the applicant had succeeded in proving the OA claim as against the defendant?
What order is to be passed given the unchallenged evidence of default?
1 provisions across 1 enactments
State Bank of India
Sri. Sai Krishna Gouru
T. RAJESH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
