Allowed

Karur Vysya Bank v. Ramya

DRT27 Mar 2026OA/193/2025

Case brief

AI extract

What is this about?

The Tribunal allowed an Original Application filed by The Karur Vysya Bank for a Recovery Certificate against defendant Ramya N. The defendant appeared ex parte. The Tribunal reduced the agreed interest rate to 8% simple per annum while confirming the principal amount and directing recovery from personal assets and secured property.

What did the court decide?

Issuance of Recovery Certificate for Rs. 1,52,41,551.61 with interest at 8% p.a. (simple) from the date of filing, recoverable from personal assets and scheduled properties.

Karur Vysya Bank versus Ramya — Contract and Commercial Disputes | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA AT BENGALURU

¶2

Dated this 27^th Day of March, 2026

¶3

Present: Sri. T. RAJESH Presiding Officer

¶4

OA.No.193/2025

¶5

BETWEEN:

¶6

The Karur Vysya Bank Ltd, Having branch at, No. 6, 2^nd Floor, Shri Vasavi Temple Road, VV Puram Branch, Near Sajjan Rao Circle, Bangalore- 560004, Represented through its Chief Manager. T Vijaya Kartikeyan, S/o Thiyagarajan, Aged about 50 years.

¶7

…APPLICANT

¶8

AND:

¶9

Ramya N, D/o Mr. Nagaraj, Residing at No.7, 8^th A Cross, N.S Palya, BTM 2^nd Stage, Bengaluru- 560076.

¶10

And also resides at, Flat No. 202 # BHK, 1^st Floor, Devi Grand View, Sarkkikere Village, Uttarahalli Hobli, Bengaluru South Taluk, Bangalore- 560077.

¶11

...DEFENDANT

¶12

Counsel on record/appeared for: Applicant : Thejas Rai K Defendant : Exparte

OA 193/2025

FINAL ORDER

The present Original Application in short (OA) has been filed under section 19 of Recovery of Debts and Bankruptcy Act 1993 seeking issuance of Recovery Certificate against the defendant for Rs. 1,52,41,551.61 (Rupees One Crore Fifty Two Lakh Forty One Thousand Five Hundred Fifty One and Paise Sixty One Only) with further interest thereon from the date of filing the Application till realization.

¶17

It is the case of the applicant that the defendant availed Digital Home loan 777 of Rs. 1,08,75,000/- (Rupees One Crore Eight Lakh Seventy Five Thousand Only) for the purpose of purchase of residential flat.

¶18

It is also the case of the applicant that, in view of the above availed loans, the defendant executed necessary loan documents along with housing loan agreement, Tripartite agreement and memorandum of deposit of title deeds.

¶19

It is further contended that, despite availing the credit facilities, agreeing to service the loan account promptly and regularly, the defendant failed in complying the same, resulting in default in repayment and consequentially turning the loan accounts as NPA.

¶20

In the above circumstances, the applicant approached this Tribunal by filing this OA seeking issuance of Recovery Certificate for the amount due in the account.

¶21

Despite, summons on the defendant, she failed to appear, resulting

¶22

OA 193/2025

¶23

¶24

the defendant being set exparte on 27.11.2025.

¶25

The applicant had let in evidence through AW-1, who filed Proof Affidavit reiterating the contentions taken in the OA and also produced Exhibits A-1 to A-6 and got the same marked in evidence.

¶26

Heard the Ld. Counsel for the Applicant and considered the contentions as taken in the OA in the light of documentary evidence and proof affidavit.

¶27

The following issues arise for consideration in this matter:

¶28

i) Whether the applicant had succeeded in proving the OA claim

¶29

as against the defendant?

¶30

ii) What order are to be passed?

¶31

Both these issues are gone into and decided together.

¶32

The case put forth by the applicant in the Application remains unrebutted as defendant remained exparte. The evidence tendered by the applicant remains uncontroverted and undisputed. The evidences put forth by the applicant were found admissible and are sufficient to prove availment of credit facilities as stated in the OA, creation of the security interest and the defaults committed in the accounts. 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.

¶33

OA 193/2025

¶34

¶35

Hence in view of the findings arrived herein above, the Tribunal

¶36

find both these issues in favour of applicant and hence, this Tribunal is of the view that OA is to be allowed.

¶37

Taking into consideration the facts that the credit facilities are

¶38

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).

¶39

In the result, OA.No.193/2025, stands allowed,

¶40

i) The applicant is allowed to recovery an aggregate sum of Rs.

¶41

1,52,41,551.61 (Rupees One Crore Fifty Two Lakh Forty One Thousand Five Hundred Fifty One and Paise Sixty One Only) with further interest @8.00 % p.a.(simple) from the date of filing OA till the realization, from the defendant 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. Properties schedule

¶42

to the OA be the schedule to the recovery certificate.

¶43

ii) If the sale proceeds are not found sufficient to cover the

¶44

amount due and payable to the applicant bank, the defendant personally and her assets are liable for amounts due under the loan account.

¶45

iii) The applicant bank is allowed cost of the proceedings which

¶46

applicant to file cost memo within 7 days from the date of receipt of the

OA 193/2025

order.

iv) The Recovery Certificate to be drawn in terms of this order and

¶51

transferred to Recovery for execution.

¶52

v) Interim application pending, if any, stands disposed of in terms

¶53

of this final order.

¶54

Communicate a copy of the order to the parties concerned in terms

¶55

of Section 19(21)(i) of the RDB Act, read with Rule 16 of DRT (Procedure)

¶56

Rules, 1993.

¶57

[Dictated to the Stenographer (AJ), transcribed by her, corrected and signed and pronounced by me in the Open Court, this the 27^th Day of March, 2026].

¶58

Sd/- (T. RAJESH)

¶59

PRESIDING OFFICER

¶60

ANNEXURES

¶61

WITNESSES EXAMINED FOR THE APPLICANT BANK:

¶62

AW-1: Anjaneyulu Sanagala K, Senior Manager, of Applicant Bank.

¶63

Exhibits on the part of the Applicant:

¶64

Exhibit Nos.	Particulars of Documents
A1	Sanction communication dated 30.12.2019
A2	Housing loan agreement dated 30.12.2019
A3	Tripartite Agreement dated 07.01.2020
A4	Memorandum of title deeds dated 13.03.2020
A5	Recall notice dated 04.06.2022
A6	Loan statement of accounts

¶65

OA 193/2025

¶66

¶67

Witness Examined for the Defendant: List of Documents Exhibited for the Defendant:

¶68

-Nil -

¶69

-Nil -

¶70

Sd/- (T. RAJESH) PRESIDING OFFICER

Karur Vysya Bank v. Ramya

Case brief

What is this about?

What did the court decide?

Karur Vysya Bank v. Ramya

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

State Bank of India versus Rajendrakumar Jain

Inno Infra Pvt. Ltd. and 9 Others versus Indian Overseas Bank

Icici Bank Limited versus Rajdeepsinh

Punjab National Bank versus Sh. Sher Singh

Punjab Gramin Bank versus Smt. Jaswinder Kaur

Hdfc Bank versus Ms Bandhav Filling Centre