Allowed

State Bank of India v. Vinoth

DRT9 Jul 2026TA/1763/2023

Case brief

AI extract

What is this about?

In this recovery application, the DRT allowed the State Bank of India's claim against Mr. Vinoth Victor. Due to the defendant's failure to appear or contest the proceedings, the court granted the bank permission to recover the principal, interest, and costs and to sell the defendant's assets.

What did the court decide?

Granted recovery of total sum of Rs.89,65,996/- along with further interest at 12.80% p.a. and costs; liberty to sell defendant's assets.

State Bank of India versus Vinoth — Banking and Recovery | DRT (2026)

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T.A. No.1763 of 2023

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09.07.2026

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 09^th day of July, 2026

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Present: SMT. S.V. GOWRAMMA Presiding Officer

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TRANSFERRED APPLICATION No.1763 of 2023

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(Originally filed before DRT- II, Chennai as OA No.07 of 2022 and thereafter transferred to this Tribunal and renumbered as TA No.1763 of 2023)

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State bank of India, Retail Assets Central Processing Centre, MRC Nagar, No.4, Santhome High Road, Mylapore, Chennai- 600 004, Represented by its Chief Manager …Applicant

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-Vs-

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Mr.Vinoth Victor, S/o William, New No.7, Old no.14, AG Apartments, 1^st floor, Ram Nagar North Street, Velachery, Chennai- 600 042

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….Defendant

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Counsels on record / appeared:

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Counsel for Applicant : M/s. Suresh Law Associates

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Defendant was set ex-parte on 18.07.2022

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: - FINAL ORDER- :

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This Original Application is filed on 16.10.2021 by the applicant bank under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 (formerly Recovery of Debts Due to Banks and Financial Institutions Act, 1993) against the defendant, for recovery of a total sum of Rs.89,65,996/- (Rupees Eighty Nine Lakhs Sixty Five Thousand

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Nine Hundred and Ninety Six only) as follows:

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(i) A sum of Rs.88,52,831/- due in respect of Term loan

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(A/c No. 34764437552) repayable together with further

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T.A. No.1763 of 2023

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interest @12.80% p.a. with monthly rests from the date of Application till the date of realization in full;

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(ii) A sum of Rs.1,13,165/- due in respect of SBI SURAKSHA LOAN (A/c No. 34764535548) repayable together with further interest @12.80% p.a. with monthly rests from the date of Application till the date of realization in full and for costs of this OA.

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Originally, this Application was filed before DRT-II, Chennai, assigned OA No.07 of 2022, and thereafter in pursuance to the notification from Ministry of Finance, DFS dated 04.10.2022, OA No.07 of 2022 stood transferred to this Tribunal and renumbered as TA No.1763 of 2023.

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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 borrower approached the applicant bank requesting for Term Loan and executed Arrangement Letter dated 04.03.2015 in favour of applicant bank.

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At the request of the defendant, the applicant bank had sanctioned the Term Loan amount of Rs.74,00,000/- on 04.03.2015. The defendant availed the loan and executed Arrangement Letter dated 04.03.2015,

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T.A. No.1763 of 2023

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09.07.2026

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Memorandum of Loan Agreement for Home Loan granted to public and Agreement to Mortgage dated 06.03.2015 whereas the amount due in the above said loan together with interest thereon at 10.15% per annum for Term loan.

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It is the further case of the applicant bank that at the request of the defendant, the applicant bank had sanctioned the SBI SURAKSHA LOAN in a sum of Rs.93,427/- on 06.03.2015. The defendant had agreed to repay the amount due in the above said loan together with interest thereon at 10.15% per annum for SBI SURAKSHA LOAN.

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The applicant bank submits that the defendant herein had executed

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the following loan documents thereby the acknowledging the said loan amount availed from the applicant bank:

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i. Loan application dated 17.12.2014

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ii. Sanction letter dated 04.03.2015

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iii. Arrangement letter dated 04.03.2015

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iv. Memorandum of loan agreement for home loan granted to public dated 06.03.2015

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v. Agreement to mortgage dated 06.03.2015

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vi. Agreement of additional loan dated 06.03.2015

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The applicant bank submits that the defendant had undertaken to repay the loan amount in time without committing any default, whereas

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the defendant had failed to service the interest and principal due under the Term loan and SBI SURAKSHA accounts. Consequently the loan accounts were classified as Non-Performing Asset (NPA) on 03.11.2020 in

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T.A. No.1763 of 2023

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the books of the applicant bank. The applicant bank submits that they have been repeatedly making representations to the defendant to regularize the Term loan and SBI SURAKSHA accounts but the defendant did not take any concrete steps to regularize the loan accounts or to repay the loan amount. 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 was sent to the Sole Defendant through Registered Post with Acknowledgment Due, which was returned with postal endorsement as ‘Door locked. Applicant Bank had caused paper publication of the notice and filed proof thereof. When OA was taken up on 18.07.2022 even after giving sufficient time, there was no appearance or representation from the defendants. Hence, Defendant was placed ex-parte on 18.07.2022.

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Heard the submissions of Applicant Bank and perused the records.

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To prove the case of the Applicant Bank, Mr. Saket Kumar, 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-8.

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A careful examination of the pleadings in the Proof Affidavit and documents Exhibits A-1 to A-8 evidence that the borrowal of credit facilities and execution of loan and security documents are true, in terms

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T.A. No.1763 of 2023

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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 defendant.

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The defendant was set ex-parte on 18.07.2022 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 defendant are produced or filed to dispute the claim of applicant bank. Hence, it can be concluded that applicant bank has proved its claim against defendant.

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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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14. The OA is allowed with costs,

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(a) The applicant bank is allowed to recover from the Defendant, a total sum of along with Rs.89,65,996/- (Rupees Eighty Nine

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Lakhs Sixty Five Thousand Nine Hundred and Ninety Six

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only) as follows:

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(i) A sum of Rs.88,52,831/- due in respect of Term loan (A/c No. 34764437552) repayable together with further

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T.A. No.1763 of 2023

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interest @12.80% p.a. with monthly rests from the date of Application till the date of realization in full;

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(b) The applicant bank is at liberty to sell the personal assets of the Defendant (both movable and immovable) to recover the balance dues as required under law for which the Defendant to disclose to the Tribunal particulars of other properties or assets owned by the Defendant.

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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 Defendants 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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T.A. No.1763 of 2023

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09.07.2026

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

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

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(Dictated to Roshnee, transcribed by her, corrected, signed and pronounced by me on this the 09^th 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. Saket Kumar, Manager of the Applicant Bank

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Exhibits on the part of the Applicant:

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Sl. No.	Date	Description of Documents	Exhibit No.
1.	17.12.2014	Loan application	A-1
2.	04.03.2015	Sanction letter	A-2
3.	04.03.2015	Arrangement letter	A-3
4.	06.03.2015	Memorandum of loan agreement of home loangranted topublic	A-4
5.	06.03.2015	Agreement to mortgage	A-5
6.	05.03.2015 to 21.09.2021	Statement of account and certificate under Banker’s Book evidence Act, 1891	A-6
7.	06.03.2015	Specimen of agreement for additional loan granted to existing home loan borrower for insurancepremium account	A-7
8.	06.03.2015 to 21.09.2021	Statement of account and certificate under Banker’s book evidence act, 1891	A-8

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T.A. No.1763 of 2023

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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

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Uploaded on 09.07.2026 at 12.30 hours

State Bank of India v. Vinoth

Case brief

What is this about?

What did the court decide?

State Bank of India v. Vinoth

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

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Case details

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