Debts Recovery Tribunals and Appellate Tribunals
STATE BANK OF INDIA vs Mrs Jairatha Kathirarivan on 29 August 2019
BEFORE THE DEBTS RECOVERY TRIBUNAL –I ATCHENNAI
Dated this 29th Day of August, 2019
Present: SHRI N.V.BADARINATH
PRESIDING OFFICER
OA 342/2018
State Bank of India,
No.386, East Main Road,
Anna Nagar WestExtension,
Thirumangalam
Now migrated to
State Bank of India,
S A R Branch, No.32, 2nd Floor,
Red Cross Building, Egmore,
Chennai -600 008.
….
Applicant
Vs.
1. Mrs.Jairatha Kathirarivan,
8 PARIDEDAP WAK# 04-11,
Tamamera Crest, Singapore – 486 061
Represented by Power Holder
Mr.Pandithurai,
Flat No.84, Senthamil Nagar, Sithalapakkam, Chennai – 600 126
2. Mr. Kathirarivan,
8 PARIDEDAP WAK# 04-11,
Tamamera Crest, Singapore – 486 061
Represented by Power Holder
Mr.Pandithurai,
Flat No.84, Senthamil Nagar, Sithalapakkam, Chennai – 600 126
Defendants 1 & 2 Also residing at
Flat No.S2 & S3, “CHOZHAN RESIDENCE”
Plot No.6 & Plot No.7, Jaya Nagar, Medavakkam, Trisulam, Kancheepuram, Tamil Nadu – 600 100.
…..
Defendants.
Counsel for the Applicant Bank : M/s.S.Booma Defendants remained ex-parte.
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ORDER
1. This application is filed by the applicant bank under Section 19 (1) of Recovery of Debts Due to Banks and Bankruptcy Act, 1993 against the defendants jointly and severally for recovery of a sum of Rs.70,70,137/- due under Home Loan with interest @ 10.10% p.a., with monthly rests from the date of filing of the application till the date of realization in full, for sale of the schedule mentioned properties along with costs of this application.
2. Defendants remained ex-parte.
3. Heard the Ld. Counsel for the applicant, perused the OA averments and the record placed before the Tribunal. The point that arises for consideration is Whether the applicant bank is entitled for the amount claimed in the application from the defendants? If so, at what rate of interest?
4. Point Whether the applicant bank is entitled for the amount claimed in the application from the defendants? If so, at what rate of interest? 4.1 To prove its claim, the applicant bank filed proof affidavit through its Asst. General Manager along with 17 documents, which are marked as Ex.A1 to A17. The proof affidavit of the applicant bank remain unchallenged and unrebutted. Therefore, on careful consideration of proof affidavit along with Exhibits filed on behalf of the applicant bank, besides the material placed before the Tribunal, the Tribunal is satisfied that the applicant bank has successfully proved the OA claim against the defendants. Point is answered accordingly.
5. For the reasons stated as above, it is held that the applicant bank is entitled for a Recovery Certificate against the defendants jointly and severally for recovery of a sum of Rs.70,70,137/- due under Home Loan together with pendent lite and future interest at 9% per annum (simple)
from the date of filing of the application till the date of realization in full, for sale of the schedule mentioned properties along with costs of this application.
6. In the result, application is allowed as under:
(a) The applicant bank is entitled to recover a sum of Rs.70,70,137/- due under Home Loan with pendent lite and future interest at 9% per annum (simple) from the date of filing of the application till the date of realization in full, from the defendants jointly and severally.
(b) It is further ordered that in case of default of payment by the defendants, the applicant bank is entitled to sell the schedule mentioned properties and adjust the sale proceeds towards the amount due.
(c) If the sale proceeds are not found sufficient to cover the amount due and payable to the applicant bank, the defendants are personally liable for all such amounts due.
(d) It is further ordered that any amount remitted or realized, if any, during the course of the proceedings, shall be given due credit to the loan account of the defendants.
(e) The applicant bank is entitled for costs of this application.
7. The applicant bank is directed to file costs memo within two weeks of the receipt of this order.
8. Issue recovery certificate in favour of the applicant bank in terms of this final order.
9. Communicate a copy of the order to the parties concerned in terms of Rule 16 read with Rule 2(c) of DRT (Procedure) Rules, 1993. (Dictated to steno, transcribed by her, corrected, signed and pronounced by me in the Open Court, this 29th day of August, 2019) Sd/- (N.V.BADARINATH) PRESIDING OFFICER DRT-I,CHENNAI