CITY UNION BANK LIMITED vs Murali Menon on 8 September 2026

1) Sri. Murali Menon, Aged about 32 years,

S/o. Ramakrishnan Nair,

Ambika Nivas, Nattiyanchira PO, Chelakkode, Thrissur District 680587.

2) Sri. Ramakrishnan Nair (Died),

Aged about 60 years,

S/o. late Govindankutty Nair,

Ambika Nivas, Nattiyanchira PO,

Chelakkode, Thrissur District 680587.

3) Smt. Ammukutty Amma (Died), Aged about 55 years,

W/o. Rama Krishnan Nair,

Ambika Nivas, Nattiyanchira PO,

Chelakkode, Thrissur District 680587.

4) Sri. Franklin, Aged about 36, S/o. Sri. Felix, Kurisingal House, P O Ancheri, Thrissur 680005. …Defendants

5) Smt. Ambika, D/o. Rama Krishnan Nair, Aged 46 years, Ambika Nivas, Nattiyanchira P O, Chelakkode, Thrissur District-680587.

6) Smt. Suma,

D/o. Rama Krishnan Nair, Aged 44 years,

Ambika Nivas, Nattiyanchira P O,

Chelakkode, Thrissur District-680587.

7) Smt. Indu,

D/o. Rama Krishnan Nair,

Aged 38 years, Ambika Nivas, Nattiyanchira P O,

Chelakkode, Thrissur District-680587.

8) Smt. Bindu,

D/o. Rama Krishnan Nair,

Aged 38 years, Ambika Nivas, Nattiyanchira P O, Chelakkode, Thrissur District-680587. … Additional Defendants [Additional defendants 5 to 8 are impleaded as legal heirs of deceased 3rd defendant as per order dated 30.11.2012 in IA No.3174/2012] This Original Application having been heard on 28.07.2026 in the presence of Advocate Sri. Thomas T. Varghese 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 a sum of Rs.14,09,683/- due under the term loan account together with future interest @12.50% per annum and penal interest @2% per annum with monthly rests from the defendants jointly and severally and by sale of the schedule property. Facts of the case:

2. The applicant is a Scheduled Commercial Bank having its registered office at Kumbakonam in Tamilnadu and a branch at Thrissur and other places.

3. The 1st defendant is the son of the 2nd and 3rd defendants. At the request of the 1st defendant, the applicant bank sanctioned a term loan (housing loan) of Rs. 14,00,000/- on 11.04.2009 for purchase of property with a house. Defendants 2 and 3 are the co-obligants and the 4th defendant is the guarantor for the said loan. The defendants availed the facilities after executing loaning/security documents. Towards collateral security for the credit facility, 1st defendant created equitable mortgage over the schedule property and executed a memorandum of deposit of title deeds on 08.06.2009 with an intention to create mortgage in favour of the applicant bank. Due to default in repayment, applicant bank issued a lawyer notice dated 19.09.2010 calling upon the defendants to repay the outstanding dues. As they did not take any step to repay the dues, the applicant was constrained to file the OA seeking relief to recover the sum of Rs.14,09,683/- together with pendente lite and post decree interest thereon from the defendants jointly and severally and by sale of the schedule property.

4. Defendants 1, 2 and 4 were duly served with summons. But they neither appeared nor were they represented and hence defendants 1, 2 and 4 were set exparte on 30.11.2012. Summons sent to the 3rd defendant was returned with the postal endorsement ‘addressee expired’; and her legal heirs were impleaded as additional defendants 5 to 8 as per order dated 30.11.2012 in IA No.3174/2012. Despite service of summons, additional defendants 5 to 8 did not appear in this case and hence they were also set exparte on 05.02.2016.

5. Pending the OA, the 2nd defendant died. Since the applicant has not taken any steps as against the deceased 2nd defendant, the OA is abated against him vide proceeding dated 08.06.2023. Proof Affidavit:

6. In order to establish the claim on behalf of the applicant bank, one Mr. Rojo C.J., Manager of the applicant bank has filed proof affidavit and produced the loan documents marked as Exhibits A1 to A10. The proof affidavit filed by AW1 and the documents produced in this case are not challenged by the defendants. The availing of the credit facility is well established from the documents placed by the applicant bank. As on 31.01.2012, a sum of Rs.14,09,683/- is outstanding in the loan account, which is clearly established from the account statement marked as Ext.A10.

7. The applicant bank filed an affidavit on 04.12.2025 stating that subsequent to filing of the OA, the defendants have remitted an aggregate sum of Rs.12,72,400/- towards the claim amount. The details of such remittance are furnished below: Date of payment Amount

17.03.2012 Rs.30,000.00 30.03.2012 Rs.40,000.00 31.05.2012 Rs.17,300.00 07.07.2012 Rs.20,000.00 03.10.2012 Rs.50,000.00 30.10.2012 Rs.55,000.00 07.11.2012 Rs.20,000.00 31.12.2012 Rs.18,000.00 01.03.2013 Rs.25,000.00 28.03.2013 Rs.20,000.00 29.06.2013 Rs.36,000.00 03.09.2013 Rs.34,000.00 30.09.2013 Rs.25,000.00 28.12.2013 Rs.35,000.00 31.12.2013 Rs.10,000.00 01.03.2014 Rs.50,000.00

29.03.2014 Rs.20,000.00 31.03.2014 Rs.6,000.00 31.03.2014 Rs.3,000.00 30.06.2014 Rs.55,000.00 30.09.2014 Rs.40,000.00 30.09.2014 Rs.15,000.00 31.12.2014 Rs.47,000.00 03.02.2015 Rs.18,500.00 31.03.2015 Rs.79,600.00 30.06.2015 Rs.27,500.00 30.06.2015 Rs.7,500.00 30.06.2015 Rs.20,000.00 14.07.2015 Rs.20,000.00 30.09.2015 Rs.20,000.00 30.09.2015 Rs.32,000.00 31.12.2015 Rs.35,000.00 31.12.2015 Rs.15,000.00 31.03.2016 Rs.47,000.00 31.03.2016 Rs.2,000.00 31.03.2016 Rs.5,000.00 30.06.2016 Rs.60,000.00 30.09.2016 Rs.60,000.00 21.12.2016 Rs.2,000.00 31.12.2016 Rs.40,000.00 23.03.2017 Rs.50,000.00 30.06.2017 Rs.25,000.00 30.06.2017 Rs.35,000.00

8. Considering the amount advanced, interest applied, substantial repayments effected and default committed and the facility granted being a housing loan, I am of the view that applicant bank is entitled to get pendente lite and post-decree interest @8% per annum, which is reasonable in the facts and circumstance of the case.

9. The applicant bank, therefore, is entitled to get a final order on the following lines: In the result, the applicant bank is given a final order allowing it to recover:

(i) the sum of Rs.14,09,683/- (Rupees fourteen lakhs nine thousand six hundred and eighty three only) due under the term loan account, less the amount recovered by the applicant bank as stated in paragraph No.7 of this final order, from defendants 1 and 4 jointly and severally and by sale of the schedule property; and in case of non-recovery of the amount, the same shall be recovered from the assets, if any, inherited by the 1st defendant as well as additional defendants 5 to 8 from the deceased 3rd defendant;

(ii) pendente lite and post-decree interest @8% per annum on the sum of Rs.14,09,683/- (Rupees fourteen lakhs nine thousand six hundred and eighty three only) from 23.04.2012 till realization from defendants 1 and 4 jointly and severally and by sale of the schedule property and in case of non-recovery of the amount, the same shall be recovered from the assets, if any, inherited by the 1st defendant as well as additional defendants 5 to 8 from the deceased 3rd defendant; and

(iii) costs and expenses borne by it for realization of the loan from defendants 1 and 4.

10. Schedule property in the OA shall be appended to this final order.

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

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

13. 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 08th day of September, 2026)

[SOVAN KUMAR DASH] PRESIDING OFFICER

A P P E N D I X Witness for Applicant: AW1: Sri. Rojo C.J., Manager of the applicant bank.

Witness for Defendant(s): Nil

Applicant’s Exhibits

Ext.No Date Particulars of documents

A1 25.04.2009 Demand promissory note for a sum of Rs.14,00,000/- executed by defendants 1 to 3 in favour of the applicant bank. A2 25.04.2009 Undertaking letter issued by the defendants 1 to 3 in favour of the applicant bank. A3 25.04.2009 Guarantee letter executed by the 4th defendant in favour of the applicant bank A4 08.06.2009 Memorandum of deposit of title deed executed by the 1st defendant in favour of the applicant bank. A5 15.08.1987 Certified copy of Release Deed No.1054/1987 of Mullaserry SRO A6

01.06.1990 Settlement deed No.874/1990 of Mullaserry SRO. A7

09.05.1994 Release Deed No.974/1994 of Mullaserry SRO. A8

24.04.2009 Sale Deed No.956/2009 of Mullaserry SRO. A9

18.03.2009 Encumbrance certificate No.1413/09 of Mullaserry SRO. A10 .. Certified copy of the statement of account relating to the term loan.

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 08th September,2026

TA No.1146/2016 (OA No.220/2012)

Between

The City Union Bank Limited, Thrissur Branch represented by Sri. R. Balasubramanian, aged 52 years, S/o. Sri. Ramaswami, Manager and Principal Officer, Pathans Hotel Buildings, Round South, Thrissur 680001. . …. …………………………………. …Applicant

And

Sri. Murali Menon, Aged about 32 years, S/o. Ramakrishnan Nair, Ambika Nivas, Nattiyanchira PO, Chelakkode, Thrissur District 680587. and 7 others. …Defendants &

additional defendants F I N A L O R D E R