CENTRAL BANK OF INDIA vs ROY PHILIP on 22 January 2026

1. Roy Philip,

Residing at Konathattu IC,

TC 11/1869 (1),

Happy Homes,

Nalachira P.O.,

Thiruvananthapuram – 695 015.

2. Susan Roy Philip,

Residing at Konathattu IC,

TC 11/1869 (1),

Happy Homes,

Nalachira P.O.,

Thiruvananthapuram – 695 015.

3. Roy Philip,

Proprietor,

Philip Dinettee Family Restaurant,

Kumarakam, Kottayam.

Residing at Konathattu IC,

TC 11/1869 (1),

Happy Homes,

Nalachira P.O.,

Thiruvananthapuram – 695 015.

4. Shawn K.Philip,

Residing at Konathattu IC,

TC 11/1869 (1),

Happy Homes,

Nalachira P.O.,

Thiruvananthapuram – 695 015.

…Defendants

This Original Application having been heard on 05.01.2026 in the presence of Advocate Mrs.Latha Susan Cherian for the applicant bank and stood over to this day for consideration, the Tribunal delivered the following: F I N A L O R D E R

This Original Application has been filed under S.19(1) of the Recovery of Debts and Bankruptcy Act, 1993 for recovery of an aggregate sum of Rs.89,72,717/- due under various loan accounts together with future interest and costs from the defendants and by sale of ‘A’ and ‘B’ schedule properties to the OA. Facts of the case:

2. The applicant is a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 having its head office at Mumbai and one of its branches at Thiruvananthapuram.

3. At the request of the defendants, applicant bank sanctioned the following credit facilities: Date of sanction Type of loan Amount Availed by Guarantor Collateral security 07.05.2012 Housing loan Rs.12.50 lakhs Defendants 1 and 2 … ‘A’ schedule property to the OA 11.05.2012 Cent mortgage loan Rs.9.50 lakhs Defendants 1 and 2 … ‘A’ schedule property to the OA 16.05.2012 SME loan 60 lakhs 3rd defendant Defendants 2 and 4 ‘B’ schedule property

The defendants were irregular in repayments which resulted in classification of the accounts as NPA. Thereafter the applicant issued notice under S.13(2) of the SARFAESI Act demanding repayment of the outstanding dues but the defendants did not settle the liability. In such premises, applicant bank was constrained to file the OA claiming the following reliefs:

(i) To recover an aggregate sum of Rs.89,72,717/- together with pendente lite and post-decree interest on the sum of Rs.89,70,084/- (after excluding the penal interest portion from the OA claim amount) from the defendants and by sale of ‘A’ and ‘B’ schedule properties to the OA;

(ii) To recover the costs, charges and expenses from the defendants;

(iii) To issue Recovery Certificate to the Recovery Officer with a direction to recover the amount and pay it to the applicant bank.

4. The defendants entered appearance and sought adjournment for filing written statement but they did not file any written statement despite sufficient opportunity granted and hence the chance of filing written statement stood closed on 24.07.2017. Thereafter the defendants remained absent from the proceeding; and the 4th defendant was declared exparte on 24.09.2018. Proof Affidavit:

5. To establish the claim on behalf of the applicant bank, one Mr.N.Unnikrishnan and Mr.Umesh N.Potti, Chief Manager and Assistant General Manager of the bank has filed proof affidavit and additional proof affidavit respectively and produced the loan documents marked as Exhibits A1 to A30. The proof affidavit and additional proof affidavit filed by AW1 and AW2 and the documents produced in this case are not challenged by the defendants. The availing of the loans is well established from the documents placed by the applicant bank. An aggregate sum of Rs.89,72,717/- is outstanding in the loan accounts as on

22.07.2014 which is clearly established from the account statements marked as Exts.A23 to A28.

6. In the additional proof affidavit, it is averred that pending the OA, SARFAESI proceedings were initiated against ‘A’ schedule property to the OA which was sold in auction on 28.10.2021 for Rs.20 lakhs. Challenging the sale notice, the 1st defendant moved SA No.294/2021 before the Tribunal which was dismissed on 30.04.2025. Aggrieved by the same, an appeal bearing No.AIR (SA) 1096/2025 was filed before the Hon'ble DRAT which is pending. Further, it is stated that Rs.20 lakhs recovered by the applicant bank by sale of ‘A’ schedule property to the OA was adjusted in the following loan accounts: A/c No. Date Amount 3178364849 [housing loan] 13.08.2025 Rs.10,00,000/- 14.08.2025 Rs.1,00,000/- 3179191034 [Cent mortgage loan] 13.08.2025 Rs.8,00,000/- 14.08.2025 Rs.1,00,000/-

7. Considering the amount advanced, interest and penal interest applied, default committed and substantial recovery effected by sale of the secured asset, I am of the view that the applicant bank is entitled to get pendente lite and post-decree interest in the manner stated below, which is reasonable in the facts and circumstances of the case.

8. The applicant bank, therefore, is entitled to get a final order on the following lines: In the result, applicant bank is given a final order allowing it to recover: Housing loan account Rs.13,17,156/- (Rupees thirteen lakhs seventeen thousand one hundred and fifty six only) together with pendente lite and post- decree interest @9% per annum on the sum of Rs.13,16,661/- (Rupees thirteen lakhs sixteen thousand six hundred and sixty one only) from 23.07.2014 till realization, less the amount recovered by the applicant as stated in paragraph No.6 of the final order, from defendants 1 and 2 jointly and severally; Cent mortgage loan account Rs.10,08,982/- (Rupees ten lakhs eight thousand nine hundred and eighty two only) together with pendente lite and post-decree interest @10% per annum on the sum of Rs.10,08,442/- (Rupees ten lakhs eight thousand four hundred and forty two only) from 23.07.2014 till realization, less the amount recovered by the applicant as stated in paragraph No.6 of the final order, from defendants 1 and 2 jointly and severally; SME loan account Rs.66,46,579/- (Rupees sixty six lakhs forty six thousand five hundred and seventy nine only) together with pendente lite and post-decree interest @10% per annum on the sum of Rs.66,44,981/- (Rupees sixty six lakhs forty four thousand nine hundred and eighty one only) from 23.07.2014 till realization from defendants 3, 2 and 4 jointly and severally and by sale of ‘B’ schedule property; and costs and expenses borne by it for realization of the loans from the defendants in proportion to the amount ordered to be recovered from them.

9. ‘B’ schedule to the OA shall be appended to this final order.

10. The applicant bank shall file memo of costs within ten days from the date of this final order.

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

12. Communicate copy of this order to both parties as provided in R.16 r/w R.2(c) of the Debts Recovery Tribunal (Procedure) Rules, 1993. (Dictated to my PA, corrected and pronounced by me in the open Tribunal on this the 22nd day of January, 2026)

[SOVAN KUMAR DASH] PRESIDING OFFICER

A P P E N D I X Witness for Applicant: AW1: Sri.N.Unnikrishnan, Chief Manager of the applicant bank. AW2: Sri.Umesh N.Potti, Assistant General Manager of the applicant bank. Witness for Defendant(s): Nil

Applicant’s Exhibits

Ext.No Date Particulars of documents

A1 04.05.2012 Loan application submitted by defendants 1 and

2. A2 07.05.2012 Sanction letter issued by the applicant bank sanctioning housing loan of Rs.12.50 lakhs to defendants 1 and 2. A3 07.05.2012 Loan agreement executed by defendants 1 and 2. A4 07.05.2012 Letter of declaration executed by defendants 1 and 2. A5 07.05.2012 Letter of authority regarding disbursement of loan executed by defendants 1 and 2. A6

11.06.2007 Sale deed No.2613/2007 of Pattom SRO. A7

21.08.2008 Possession certificate issued by Village Officer, Ulloor. A8

31.01.2009 Encumbrance certificate issued by Pattom SRO. A9

24.12.2002 Sale deed No.4069/2002 of Pattom SRO. A10 11.05.2012 Term loan agreement executed by defendants 1 and 2. A11 07.05.2012 Letter of declaration executed by defendants 1 and 2. A12 … Declaration and undertaking executed by defendants 1 and 2. A13 … Interest variation letter executed by defendants 1 and 2 A14 16.05.2012 Loan agreement executed by the 3rd defendant. A15 16.05.2012 Letter of declaration executed by the 3rd defendant.

A16 … Interest variation letter executed by the 3rd defendant. A17 16.05.2012 Letter of authority regarding disbursement of loan executed by the 3rd defendant. A18 16.05.2012 Letter of guarantee executed by defendants 2 and 4. A19 19.05.2012 Sale deed No.1589/2012 of Kottayam SRO. A20 21.10.2002 Sale deed No.3262/2002 of Kottayam SRO. A21 30.07.2012 Possession certificate issued by Village Officer, Kumarakom. A22 23.07.2012 Tax receipt issued by Village Officer, Kumarakom. A23 … Certified copy of the statement of account relating to the housing loan. A24 … Statement showing the unapplied interest under Ext.A23 account. A25 … Certified copy of the statement of account relating to the Cent mortgage loan. A26 … Statement showing the unapplied interest under Ext.A25 account. A27 … Certified copy of the statement of account relating to the SME loan. A28 … Statement showing the unapplied interest under Ext.A27 account. A29 … Statement showing the sale proceeds credited in housing loan account. A30 … Statement showing the sale proceeds credited in Cent mortgage loan account.

Defendants’ Exhibits – Nil

PRESIDING OFFICER

PRESIDING OFFICER

IN THE DEBTS RECOVERY TRIBUNAL-2, KERALA AT ERNAKULAM

PRESENT: SRI.SOVAN KUMAR DASH PRESIDING OFFICER

Dated the 22nd January, 2026

TA 809/2016 (OA NO.389/2014)

Between

Central Bank of India, Trivandrum Branch, M.G.Road, Thiruvananthapuram. …Applicant

And

Roy Philip, Residing at Konathattu IC, TC 11/1869 (1), Happy Homes, Nalachira P.O., Thiruvananthapuram & 3 others.

…Defendants

F I N A L O R D E R