Indian Bank v. K Sumana
Case brief
What is this about?
The Debts Recovery Tribunal allowed the bank's original application filed under Section 13(10) of the SARFAESI Act and Section 19 of the RDB Act to recover Rs. 34.40 lakhs along with interest and costs against two respondents who defaulted on a home loan.
What did the court decide?
Recovery of Rs. 34,40,863 plus interest at 8.35% p.a. and costs. Liberty to sell personal assets. Recovery Certificate to be issued.
What the court decided
O.A. No. 366 of 2022
19.05.2026
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 19th day of May, 2026
Present: SMT. S.V. GOWRAMMA
Presiding Officer
ORIGINAL APPLICATION No.366 of 2022
Indian Bank, No.66, Rajaji Salai, MGT Branch, Door No, Old No.155 New No.331. Thambu Chetty Street, Chennai- 600 001 Represented by its Chief Manager ….Applicant
-Vs-
- Mrs. K. Sumana, W/o Mr. P. V. Krishna Prasad, No.21, Flat No.S1 Aradhana Apartments, 21 Temple Avenue, Chennai- 600 015
- Mr.P.V. Krishna Prasad, S/o Mr. Venkatrao Perumbude, No.21, Flat No.S1 Aradhana Apartments, 21 Temple Avenue, Chennai- 600 015 …..Defendants
Issues for consideration
3 issues framed by the court
Whether the applicant bank is entitled to recover the outstanding dues along with interest and costs.
Whether the Tribunal has jurisdiction to adjudicate the claim under the SARFAESI Act.
Whether the defendants are liable to pay the remaining balance after sale of mortgaged property.
Parties & counsel
- applicant
Indian Bank
- respondent
Mrs. K. Sumana
- respondent
Mr. P.V. Krishna Prasad
Coram
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court