UCO BANK vs GIRISH M on 30 September 2026

FINAL ORDER

1. The present Transfer Application in short (TA) has been filed under section 19 of Recovery of Debts and Bankruptcy Act 1993

seeking for issuance of Recovery Certificate against the defendants for Rs 67,08,036.05/- (Rupees Sixty-Seven Lakhs Eight Thousand and Thirty-Six and Paisa Five Only) with further interest thereon from the date of filing the Application till realization.

2. It is the case of the applicant that, the defendants are availed a housing loan of Rs. 50,00,000/- (Rupees Fifty Lakhs Only) for purchasing flat.

3. It is also the case of the, applicant that, in view of the above availed loan, the defendants executed the necessary loan documents along with deposit of title deeds.

4. It is further contended that, despite availing the credit facility, agreeing to service the loan amount promptly and regularly, the defendants failed in complying the same, resulting in default in repayment and consequentially turning the loan accounts as NPA.

5. In the above circumstances, the applicant approached this Tribunal by filing this TA seeking issuance of Recovery Certificate for the amount due in the account.

6. Despite, service of summons on the defendants, they failed to appear, resulting the defendants being set ex parte on 14.05.2026.

7. The applicant had let in evidence through AW-1, who filed Proof Affidavit reiterating the contentions taken in the TA and also produced Exhibits A-1 to A-7 and got the same marked in evidence.

8. Heard the Ld. Counsel for the Applicant and considered the

contentions as taken in the TA in the light of documentary evidence and proof affidavit.

9. The following issues arise for consideration in this matter: i) Whether the applicant had succeeded in proving the TA claim as against the defendants? ii) What order are to be passed?

Both these issues are gone into and decided together.

10. The case put forth by the applicant in the Application remains unrebutted as defendants remained ex parte. The evidence tendered by the applicant remains uncontroverted and undisputed. The evidences put forth by the applicant were found admissible and are sufficient to prove availment of credit facility as stated in the TA, and the defaults committed in the accounts. The liability of the defendants and the claim of the amount due is also proved by the above documents. The claim of the applicant is well within the limitation.

11. Hence in view of the finding arrived herein above, the Tribunal finds that both these issues are in favour of applicant and hence, this Tribunal is of the view that TA is to be allowed.

12. Taking into consideration the facts that the credit facility is availed for Housing purpose and also that the TA claim is arrived at

by calculating interest at the agreed rate, this Tribunal is of the view that the OA can be allowed with a reduced interest of 8.00% (simple).

13. In the result, TA.No.11/2023, stands allowed,

i) The applicant is allowed to recover an aggregate sum of Rs. 67,08,036.05/- (Rupees Sixty-Seven Lakhs Eight Thousand and Thirty-Six and Paisa Five Only) with further interest @8.00% p.a.(simple) from the date of filing TA till the realization, from the defendants jointly, severally and personally, after giving credit to all the amount recovered and received during the pendency of the TA and allowed the same to be recovered by proceeding against the schedule properties. Properties schedule to the TA be the schedule to the recovery certificate.

ii) If the sale proceeds are not found sufficient to cover the amount due and payable to the applicant bank, the defendants jointly, severally and personally and their assets are liable for all such amounts due under the loan accounts.

iii) The applicant bank is allowed cost of the proceedings which applicant to file cost memo within 7 days from the date of receipt of the order.

iv) The Recovery Certificate to be drawn in terms of this order and transferred to Recovery for execution.

v) Interim application pending, if any, are disposed of with this

Final Order.

14. Communicate a copy of the order to the parties concerned in terms of Section 19(21)(i) of the RDB Act, read with Rule 16 of DRT (Procedure) Rules, 1993. [Dictated to the Stenographer (HS), transcribed by her, corrected and signed and pronounced by me in the Open Court, this the 30th Day of September, 2026].

Sd/- (T. RAJESH) PRESIDING OFFICER

ANNEXURES WITNESSES EXAMINED FOR THE APPLICANT BANK: AW-1: Mr. Hemanth Kumar, Asst General Manager, of Applicant Bank. Exhibits on the part of the Applicant:

Witness Examined for the Defendant: -Nil - List of Documents Exhibited for the Defendant: -Nil -

Sd/- (T. RAJESH) PRESIDING OFFICER Exhibit Nos. Particulars of Documents A1 Application for term loan under UCO home loan scheme dated 20.02.2016 A2 Sanction of credit facility under UCO home loan dated 20.02.2016 A3 Loan agreement dated 20.02.2016 A4 On demand promissory note for Rs. 50,00,000/- dated 20.02.2016 A5 Equitable mortgage by way of deposit of title deeds dated 22.02.2016 A6 Possession notice dated 10.08.2020 A7 Recall notice dated 10.01.2019 A8 Statement of account in respect of UCO home loan a/c no. 19580610007389