FEDERAL BANK vs SRI.NARESH SEERVI on 17 July 2026

**FINAL ORDER**

The present TA has been filed by the Applicant Bank under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993, seeking recovery of money of **Rs.44,72,426/- (Rupees forty four lakh seventy two thousand four hundred and twenty six only)** together with costs, interest, etc.

2. The case of the Applicant Bank is that, the Defendant had approached the Applicant Bank for Various Loan Facilities. Accordingly, considering the 2TA.No.12/2024

request, the Applicant Bank had sanctioned the following loan facilities:-

- i) Gold Loan of Rs.10,00,000/- on 08.12.2022

- ii) Gold Loan of Rs.97,63,000/- on 14.12.2022

- iii) Gold Loan of Rs.97,72,000/- on 14.12.2022

Hence, the Defendant executed Loan Documents in favour of the Applicant Bank and agreed to repay the loan in equated monthly installments with interest as stipulated in the loan agreement.

In order to secure the loan, the Defendant side have executed various documents viz., Demand Promissory Note, Delivery Letter, Gold Loan, etc.,

3. The Defendant after utilising the said loans have failed and neglected to make the repayment of the loans due as agreed and Defendant have not serviced the interest thereon as per the terms and condition agreed by the Defendant. In view of the continued default, the loans accounts were classified as Non-Performing Asset. Thereafter, the Applicant Bank has issued Demand Notice on **30.06.2023** and called upon the Defendant to repay the entire loan due. In spite of receipt of repeated remainders of legal notice, the Defendant have failed to pay the outstanding dues and hence the recovery process is initiated to recover the dues.

4. In the light of these factors, it is contended by the Applicant Bank that 3TA.No.12/2024

Defendant are liable to pay a total sum of **Rs.44,72,426/- (Rupees forty four lakh seventy two thousand four hundred and twenty six only).**

1. 5. After filing this OA, summons were sent to the Defendant through RPAD. But returned with postal remarks **"Insufficient Address"**. Thereafter the Applicant Bank has published the summons to the Defendant on 07.05.2025, in English and vernacular language in Local newspapers, viz., – **"The New Indian Express"** and **"Kannada Prabha"** on 07.03.2025 When Defendant was called out, he remained absent and hence, placed ex parte.

2. 6. To prove the case of the Applicant Bank, it's Senior Manager, Sri. Narendra Pemmaraju, has filed his affidavit by way of evidence the same was considered as evidence of AW.1 and marked at Ex.A1 and list of documents came to be marked at Ex.A2 and 16 documents came to be marked at Ex.A3 to A18.

3. 7. No evidence on behalf of the Defendant.

4. 8. Arguments of Learned Counsel for the Plaintiff/ Applicant Bank heard and perused the records of the case.

5. 9. Following points arise for my consideration:

1. 1) Whether Plaintiff/Applicant Bank proves its case as contended in the plaint/application?

4TA.No.12/2024

2) What Order?

10. For the following reasons, I answer the above-referred points in the following manner:

REASONS

11. The Senior Manager of the Applicant Bank came to be examined as AW.1. His affidavit by way of evidence reiterated the facts pleaded in the plaint and his affidavit is also corroborated by the above-referred Ex.A3 to A18 which clearly establish the case of the Applicant Bank to allow the present TA. Added to this the Defendant had remained absent, hence it is to be construed that Defendant admitted the entire case pleaded by the Applicant Bank in the present TA.

12. Therefore, for these reasons, present TA is to be allowed with costs as sought by the Applicant Bank.

ORDER

Present TA stands allowed, with interest and cost.

Defendant is liable to pay a sum of **Rs.44,72,426/- (Rupees forty four lakh seventy two thousand four hundred and twenty six only)** along with cost, interest **@10% p.a.** from the date of Application till the realization of the entire amount to the Applicant Bank.

5TA.No.12/2024

On failure to pay the above O.A amount, the Applicant Bank is at liberty to proceed against person and properties of the Defendant in accordance with law.

Applicant Bank shall file latest Memo of Calculation of TA amount together with interest, costs etc., to be paid by Defendant duly taking into account the amount/s, if any, paid by the Defendant and/or amount realised by sale of assets, etc., during the intervening period after filing the TA, to enable the office to prepare Recovery Certificate for the amount to be paid by the Defendant to the Applicant Bank.

Office is directed to issue Recovery Certificate as sought by the Applicant Bank in the TA and do the needful as required under the law forthwith.

The Office is directed to issue, as far as possible, free copy of this order to the parties concerned.

(Dictated to the Stenographer, after its transcription and necessary corrections, signed and pronounced by me in the Open Court on this the 17^th day of July, 2026)

(Imtiaz Ali)

DRT-I, Bengaluru

**ANNEXURES**

**Witness Examined for the Applicant Bank:**

AW-1 : Sri. Narendra Pemmaraju

The Senior Manager of Applicant Bank

**List of Documents Exhibited for the Applicant Bank:**

TA.No.12/2024

- Ex.A-1 : Affidavit of AW-1

- Ex.A-2 : List of Documents

- Ex.A-3 : Pledge card

- Ex.A-4 : On Demand Promissory Note

- Ex.A-5 : Take Delivery Letter to DPN

- Ex.A-6 : Pledge card for Gold Loan

- Ex.A-7 : Pledge card for Gold Loan

- Ex.A-8 : On Demand Promissory Note

- Ex.A-9 : Delivery Letter to DPN

- Ex.A-10 : On Demand Promissory Note

- Ex.A-11 : Delivery Letter to DPN

- Ex.A-12 : Consent Letter

- Ex.A-13 : Notice date

- Ex.A-14

- to 16 : Statement of account

- Ex.A-17 : Certificate of Banker's Books

- Ex.A-18 : Consolidated Statement to the claim amount **Witness Examined for the Defendants:**

- Nil -

**List of Documents Exhibited for the Defendants:**

- Nil -

✓ 17.7.26 (Imtiaz Ali)

DRT-I, Bengaluru

.KP.