Allowed

Idbi Bank v. Rosi Naidu

DRT21 Jul 2026OA/318/2022

Case brief

AI extract

What is this about?

The DRT allowed the Original Application filed by IDBI Bank Ltd. for recovery of home loan dues. Since the defaulting borrowers did not contest the ex-parte proceedings, the Tribunal upheld the bank's claim based on certified account statements and evidence of executed loan documents, ordering recovery of the principal amount, interest, and costs.

What did the court decide?

Recovery of Rs.26,55,431.34 plus interest and costs; liberty to sell defendants' movable and immovable assets; issuance of recovery certificate.

Idbi Bank versus Rosi Naidu — Execution and Attachment | DRT (2026)

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O.A. No. 318 of 2022

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21.07.2026

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 21^st day of July, 2026

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Present: SMT. S.V. GOWRAMMA

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Presiding Officer

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ORIGINAL APPLICATION No. 318 of 2022

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IDBI Bank Ltd., Tambaram Branch, No.4, Duraisamy Reddy Street, West Tambaram, Chennai 600 045. ….Applicant

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-Vs-

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Mr. R Rosi Naidu S/o. Mr. Ramachandran No.F2, Sri Sai Apartments, Old State Bank Colony Extn, Tambaram West, Chennai 600 045.

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Mrs. R Jothi, W/o. Mr. R Rosi Naidu, No.F2, Sri Sai Apartments, Old State Bank Colony Extn, Tambaram west, Chennai 600 045. …..Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s. S. Parthasarathy

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Defendants were set ex-parte on 13.12.2022

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: - FINAL ORDER - :

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This Original Application is filed on 22.07.2022 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 for recovery of a total sum of

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Rs.26,55,431.34p (Rupees Twenty Six Lakhs Fifty Five Thousand

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O.A. No. 318 of 2022

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21.07.2026

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Four Hundred and Thirty One & Thirty Four Paise Only) due in respect of Home Loan (Account No.0370675100002370) repayable together with further interest @ 7.80% p.a. with monthly rests and Penal Interest @ 2% p.a. from the date of filing the OA, till date of realization in full, and for costs of this application.

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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 defendants approached the applicant bank and had applied for Home Loan of Rs.35,76,000/- from the applicant bank. After due consideration of the request for the loan facility by the defendants, the applicant bank had sanctioned the above said amount vide Sanction Letter dated 10.11.2014.

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The applicant bank submits that in furtherance of the said Home loan of Rs.35,76,000/-, the Defendants have executed the following documents in favour of the Applicant Bank on 11.11.2014:

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i) Home Loan Agreement.

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ii) Power of Attorney.

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iii) Declaration and undertaking.

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iv) Deed of Indemnity

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It is submitted that the applicant Bank disbursed the Loan Amount as

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O.A. No. 318 of 2022

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21.07.2026

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per the sanctioned terms. However, the Defendants failed and neglected to repay to the Applicant Bank, the loan amount, interests and other monies and also committed other defaults in observing the conditions of the Agreements and Sanction Letter. Defendants have made the last payment on 22.10.2021 and thereafter defaulted in repayment. Consequent to the defaults committed by the Borrowers in respect of the repayments, the account was classified as Non-Performing Asset (NPA) on 08.02.2022 in accordance with the directions/guidelines issued by the Reserve Bank of India.

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The applicant bank submits that in view of the defaults committed by the Defendants, the Applicant Bank vide their Recall Notice dated 10.06.2022 demanded and called on the Defendants to discharge their entire liabilities by paying to the Applicant Bank a sum of Rs.25,62,517.34p (Rupees Twenty Five Lakh Sixty Two Thousand Five Hundred and Seventeen & Paise Thirty Four Only) as on 08.02.2022, within 7 days from the date of the receipt of the notice and further advised that in case of failure to make payment, the Applicant Bank shall be constrained to take steps for enforcing the securities and realizing the dues. The applicant submits that, in spite of the Applicant's notices the Defendants did not make the entire payment as per the Recall Notice.

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The applicant bank further submits that consequent to the sanction of the Home Loan by the applicant bank to the defendants, appropriate accounts were opened in the name of the defendants in the usual books of accounts of the applicant bank at its Tambaram Branch, No.4, Duraisamy

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O.A. No. 318 of 2022

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21.07.2026

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Reddy Street, West Tambaram, Chennai 600 045.

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The applicant bank has regularly kept and maintained the accounts and all entries of debits and credits were correctly made therein by the applicant bank in the regular, ordinary and usual course of its banking business in as much as all the payments by way of advance allowed to the defendants and interest accruing thereon at the contracted rate with agreed rests as also all agreed incidental costs, charges and expenses etc. were duly debited and the payments made by the defendants towards part liquidation of their liabilities were correctly credited to the aforesaid accounts on respective dates. After taking into consideration all the debits, credits, and making adjustments of the payment made by the defendants, presently a sum of Rs.26,55,431.34p is due and outstanding to the applicant bank. 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. Summons to D1 and D2 were duly served. When OA was taken up on 13.12.2022 even after giving sufficient time, there was no appearance or representation from the defendants. Hence, defendants 1 and 2 were placed ex-parte on 13.12.2022.

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Heard the submissions of Applicant Bank and perused the

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records.

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To prove the case of the Applicant Bank, Sh. S. Rajagopalan, Branch

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O.A. No. 318 of 2022

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21.07.2026

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Head and Asst General Manager of 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-7 .

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A careful examination of the pleadings in the Proof Affidavit and documents Exhibits A-1 to A-7 evidence that the borrowal of credit facilities and execution of loan and security documents are true, in terms of averments made in Original Application as well as Proof Affidavit filed by applicant bank establishing its claim. Applicant bank filed Statement of Accounts duly certified under Bankers’ Book Evidence Act, evidencing the amount claimed against defendants.

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The defendants were set ex-parte on 13.12.2022, but till this day they did not take any action to set aside the ex-parte order and did not choose to contest the claim. Further, a careful scrutiny of records makes it clear that present application is filed well within limitation and this Tribunal possesses necessary and proper jurisdiction to entertain and adjudicate the claim. No oral or documentary evidence on the side of defendants are produced or filed to dispute the claim of applicant bank. Hence, it can be concluded that applicant bank has proved its claim against defendants.

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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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The OA is allowed with costs,

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O.A. No. 318 of 2022

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21.07.2026

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(a) The applicant bank is allowed to recover from the Defendants, a total sum of Rs.26,55,431.34p (Rupees Twenty Six Lakhs Fifty Five Thousand Four Hundred and Thirty One & Thirty Four Paise Only) due in respect of Home Loan (Account No.0370675100002370) repayable together with further interest @ 7.80% p.a. with monthly rests and penal interest @ 2% p.a. from the date of filing the OA till date of realization in full, along with costs.

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(b) 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 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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(c) The applicant bank shall file the latest memo of calculation of OA amount together with interest, costs etc., to be paid by the Defendants duly considering the amounts, if any, paid by the Defendant and/or amount realized by sale of assets etc., during the intervening period after the filing of the OA, enabling the Registry to prepare Recovery Certificate for the amount to be paid by Defendant to the applicant bank.

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(d) The applicant bank shall file memo of costs within ten days from the date of receipt of this final order.

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(e) Recovery Certificate shall be drawn up and issued to the Recovery Officer in terms of the final order.

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O.A. No. 318 of 2022

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21.07.2026

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A copy of this order be communicated to the parties concerned.

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Sd/-

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(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 21^st day of July, 2026)

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ANNEXURES

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WITNESSES EXAMINED FOR THE APPLICANT BANK :

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AW-1: Mr. S. Rajagopalan, Branch Head and Asst General Manager of the Applicant Bank.

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Exhibits on the part of the Applicant:

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Sl. No.	Description of Documents	Exhibit No.
1.	Sanction letter dated 10.11.2014.	A-1
2.	Home Loan agreement dated 11.11.2014.	A-2
3.	Power of attorney dated 11.11.2014.	A-3
4.	Declaration and undertaking dated 11.11.2014.	A-4
5.	Deed of Indemnity dated 11.11.2014.	A-5
6.	Recall Notice dated 10.06.2022.	A-6
7.	Statement of Account along with Certificate under Banker’s Book Evidence Act dated 23.06.2022.	A-7
8.	Authorization Letter along with Delegation of powers.	A-8

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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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-: SCHEDULE :-

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NIL

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

Idbi Bank v. Rosi Naidu

Case brief

What is this about?

What did the court decide?

Idbi Bank v. Rosi Naidu

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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