CATHOLIC SYRIAN BANK LIMITED vs ARUN M on 14 November 2025

IN THE DEBTS RECOVERY TRIBUNAL-2, KERALA AT ERNAKULAM

PRESENT: SRI.SOVAN KUMAR DASH PRESIDING OFFICER

Dated this the 14th day of November, 2025

TA No.73/2017 (OA No.466/2016) Between

CSB Bank Ltd., Formerly Catholic Syrian Bank Ltd., Munnar Branch. Registered office at: St.Mary’s College Road, P.B.No.502, Thrissur-20.

…Applicant [Applicant was substituted in the place of Catholic Syrian Bank Ltd. as per order dated 16.05.2023 in IA No.1567/2023] And

Arun M.,

S/o.Muthusami,

House No.702,

Nadayar South,

Nallathanni Estate,

Munnar P.O.,

Idukki – 685 612.

…Defendant

This Original Application having been heard on 28.10.2025 in the presence of Advocate Sri.C.A.Joy for the applicant bank and the defendant being absent 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.27,21,350/- due under various gold loan accounts together with future interest thereon @14% per annum with monthly rests and penal interest @1% per annum from the defendant and his assets. Facts of the case:

2. The applicant is a banking company incorporated under the Companies Act having its registered office at Thrissur and one of its branches at Munnar.

3. The defendant availed 19 gold loans totaling to Rs.21.16 lakhs from the erstwhile Catholic Syrian Bank in 2014. At the time of availing the loans, the defendant executed separate gold loan agreements along with demand promissory notes in favour of the bank. The net weight of gold ornaments pledged is 1194 grams. After disbursement of the loans, it came to the notice of the bank that the ornaments pledged are spurious gold and hence they lodged a complaint dated 10.12.2014 before the Munnar Police Station. Based on the complaint, crime was registered against the defendant and an FIR was filed before the

Judicial First Class Magistrate Court, Devikulam and the ornaments as well as original documents were seized by the Police. Since the defendant has not repaid the loan amount even after receipt of the lawyer notice, the applicant bank was constrained to file the OA claiming the following reliefs:

(i) To recover an aggregate sum of Rs.27,21,350/- together with pendente lite and post-decree interest thereon from the defendant and his assets;

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

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

4. The defendant filed written statement denying the averments in the OA. It is claimed that he was a worker in KPP Jewellery, Munnar and he was asked to check the purity of gold which were pledged with the bank and made to sign several papers shown to him. The applicant bank colluding with its officials had created false documents to escape from the forgery and looting done inside the bank and he was made a scapegoat for this. On 07.11.2014, he pledged some gold with the bank and availed three loans of Rs.35,500/-, Rs.19,250/- and Rs.49,900/- vide A/c Nos.Agl.72, Agl.7894 and Agl.73 and copy of the receipts are produced in this case. He has not availed any of the loans as mentioned in the OA except the above three loans which the applicant has not stated therein. The applicant is not entitled to get any relief as against the defendant and hence the OA may be dismissed. Proof Affidavit:

5. To establish the claim on behalf of the applicant bank, one Mr.Jithin John, Branch Manager has filed proof affidavit and produced the loan documents marked as Exhibits A1 to A46. The availing of the loans is well established from the documents placed by the applicant bank. An aggregate sum of Rs.27,21,350/- is outstanding in the loan accounts as on 20.06.2016, which is clearly established from the account statements marked as Exts.A24 to A42.

6. The defendant has not filed any counter proof affidavit despite time granted and hence the chance of filing the same stood closed on 21.08.2017. Thereafter he remained absent from the proceeding and none appeared and represented to address argument in this case. Mere denial of availing of the subject loans does not relieve the defendant from his liability.

7. Considering the amount advanced, interest applied and the nature of transaction involved in this case, I am of the view that the applicant bank is entitled to get pendente lite and post-decree interest @12% per annum, 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, the applicant bank is given a final order allowing it to recover:

(i) the sum of Rs.27,21,350/- (Rupees twenty seven lakhs twenty one thousand three hundred and fifty only) due under the gold loan accounts from the defendant and his assets;

(ii) pendente lite and post-decree interest @12% per annum on the sum of Rs.27,21,350/- (Rupees twenty seven lakhs twenty one thousand three hundred and fifty only) from 27.06.2016 till realization from the defendant and his assets; and

(iii) costs and expenses borne by it for realization of the loans from the defendant.

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

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

11. 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 14th day of November, 2025)

[SOVAN KUMAR DASH]

A P P E N D I X Witness for Applicant: AW1: Shri.Jithin John, Branch Manager of the applicant bank. Witness for Defendant(s): Nil

Applicant’s Exhibits

Ext.No Date Particulars of documents

A1 22.05.2013 Copy of power of attorney holder executed by the bank in favour of the Branch Manager. A2 06.06.2014 Certified copy of gold loan agreement with demand promissory note. A3 17.06.2014 Certified copy of gold loan agreement with demand promissory note. A4 23.06.2014 Certified copy of gold loan agreement with demand promissory note. A5 27.06.2014 Certified copy of gold loan agreement with demand promissory note. A6

05.07.2014 Certified copy of gold loan agreement with demand promissory note. A7

16.07.2014 Certified copy of gold loan agreement with demand promissory note. A8

23.07.2014 Certified copy of gold loan agreement with demand promissory note. A9

29.07.2014 Certified copy of gold loan agreement with demand promissory note. A10 29.07.2014 Certified copy of gold loan agreement with demand promissory note. A11 01.08.2014 Certified copy of gold loan agreement with demand promissory note. A12 12.08.2014 Certified copy of gold loan agreement with demand promissory note. A13 19.08.2014 Certified copy of gold loan agreement with demand promissory note. A14 05.09.2014 Certified copy of gold loan agreement with demand promissory note.

A15 15.09.2014 Certified copy of gold loan agreement with demand promissory note. A16 16.09.2014 Certified copy of gold loan agreement with demand promissory note. A17 16.09.2014 Certified copy of gold loan agreement with demand promissory note. A18 16.09.2014 Certified copy of gold loan agreement with demand promissory note. A19 07.11.2014 Certified copy of gold loan agreement with demand promissory note. A20 04.12.2014 Certified copy of gold loan agreement with demand promissory note. A21 10.12.2014 Copy of complaint filed before the Circle Inspector of Police, Munnar. A22 11.12.2014 Copy of FIR filed before the Judicial First Class Magistrate Court, Devikulam. A23 19.12.2014 Copy of mahazar prepared by the police authorities while taking custody of the documents. A24 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601019. A25 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601020. A26 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601021. A27 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601022. A28 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601023. A29 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601024. A30 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601030. A31 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601031. A32 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601032.

A33 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601034. A34 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601042. A35 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601043. A36 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601049. A37 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601051. A38 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601052. A39 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601053. A40 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601054. A41 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601055. A42 20.06.2016 Certified copy of the statement of account relating to gold loan A/c No.601058. A43 … Interest statement in the short term gold loan account. A44 09.05.2016 Copy of lawyer notice issued to the defendant. A45 … Acknowledgement card evidencing the receipt of lawyer notice by the defendant. A46 26.05.2016 Reply to Ext.A44 lawyer notice sent by the defendant.

Defendants’ Exhibits – Nil

IN THE DEBTS RECOVERY TRIBUNAL-2, KERALA AT ERNAKULAM

PRESENT: SRI.SOVAN KUMAR DASH PRESIDING OFFICER

Dated the 14th November, 2025

TA No.73/2017 (OA No.466/2016)

Between

CSB Bank Ltd., Formerly Catholic Syrian Bank Ltd., Munnar Branch. Registered office at: St.Mary’s College Road, P.B.No.502, Thrissur-20. …Applicant And

Arun M., S/o.Muthusami, House No.702, Nadayar South, Nallathanni Estate, Munnar P.O., Idukki – 685 612. ...Defendant

F I N A L O R D E R