Debts Recovery Tribunal allowed OA under RDB Act for issuance of Recovery Certificate against a defaulting borrower. Claim initiated for HousingLoan amount unrebutted. Liability confirmed with reduced simple interest and cost of proceedings.
Recovery Certificate to be drawn and transferred to Recovery for execution for Rs 23638829/- at 8% simple interest plus costs.
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 29th Day of May, 2026
Present: Sri. T. RAJESH Presiding Officer
OA.No.1892/2024
BETWEEN:
State Bank of India Corporate Centre at Madame Cama Road, Nariman Point, Mumbai. Branch Office at SARB 3rd Floor, Near Old Shivaji Theatre, J C Road, Bangalore. Represented by Sri Raviprakash H V Chief Manager and Authorized Officer.
…APPLICANT
AND:
Sri Veereshkumar Mahadevappa Hebbal S/o Sri Mahadevappa Aged about 48 years R/o Alamatti Road, Veeresh Nagar, Post: Nidagundi, Taluq- Basavanabagewadi, Vijayapur District-586213.
Also at: # Samruddhi Mystic Wind Row House, Unit No.2 Nimbekayipura Village, Bidarahalli Hobli, Bangalore East Taluk, Bangalore-560049.
...DEFENDANTS
Counsel on record/appeared for:
Applicant : G N Satyamurthy Defendants : Exparte
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FINAL ORDER
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ii) What order are to be passed?
Both these issues are gone into and decided together.
The liability of the defendant and the claim of the amount due are also proved by the above documents. The claim of the applicant is well within the limitation.
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find both these issues in favour of applicant and hence, this Tribunal is of the view that OA is to be allowed.
availed for Housing purpose and also that the 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% (simple).
i) The applicant is allowed to recovery an aggregate sum of Rs. 2,36,38,829/- (Rupees Two Crore Thirty Six Lakh Thirty Eight Thousand Eight Hundred Twenty Nine Only) with further interest @8.00 % p.a.(simple) from the date of filing OA till the realization, from the defendants jointly, severally and personally, after giving credit to all the amount recovered and received during the pendency of the OA and allowed the same to be recovered by proceeding against schedule property. Schedule Properties to the OA be the schedule 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 defendants jointly, severally and personally and their assets are liable for the amounts due under the loan accounts.
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iii) The applicant bank is allowed cost of the proceedings 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 in terms
of this final order.
14. 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.
[Dictated to the Stenographer (DV), transcribed by her, corrected and signed and pronounced by me in the Open Court, this the 29th Day of May, 2026].
Sd/-
PRESIDING OFFICER
ANNEXURES
WITNESSES EXAMINED FOR THE APPLICANT BANK:
AW-1: Vivek Raina, Chief Manager of the Applicant Bank
Exhibits on the part of the Applicant:
| Annexure | Date | List of Documents |
|---|---|---|
| A1 | 12.06.2023 | Loan Application |
| A2 | 29.06.2023 | Arrangement letter |
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| A3 | 29.06.2023 | Agreement for Home Loan Granted to Public |
|---|---|---|
| A4 | 29.06.2023 | Agreement to Mortgage |
| A5 | 29.06.2023 | Deed of Undertaking |
| A6 | 05.07.2023 | Memorandum of Deposit of Title Deeds |
| A7 | 06.07.2023 | Letter Confirming the Deposit of Title Deeds |
| A8 | 05.07.2023 | Sale Deed |
| A9 | 12.04.2024 | Demand Notice |
| A10 | 06.07.2024 | The Certified Extract of the account |
| A11 | 06.07.2024 | Account Closure Summary |
Witness Examined for the Defendants: List of Documents Exhibited for the Defendants:
-Nil -
-Nil –
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 are to be passed?
1 provisions across 1 enactments
State Bank of India
T. RAJESH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
