FEDERAL BANK vs M/s MATTAPPALLIL CEMENT PRODUCTS on 1 September 2018

**FINAL ORDER**

1. 1. The applicant bank has filed the above application on 11.11.2016 under S.31A of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 – hereinafter referred to as 'the Act' – as decree holder in OS No.58/2012 of the Sub Court, Thodupuzha for issuing Recovery Certificate in terms of the decree dated 15.12.2012 for recovery of the amount due there under.

2. The defendants were duly served with summons and filed proof of service on 30.11.2016. The defendants did not appear, nor filed the vakalath and hence, defendants were set exparte on 05.04.2017.

3. The applicant bank had filed OS No.58/2012 before Sub Court, Thodupuzha for recovery of amount due and obtained decree dated 15.12.2012, allowing it to recover the sum of Rs.6,50,000/- with interest @ 12% per annum from the date of suit till realization with costs from the defendants and their assets.

4. According to the applicant bank, the defendants did not pay the amount due under the decree, and hence they are entitled for a recovery of a sum of Rs.10,95,078.48 (Rupees Ten Lakh Ninety Five Thousand and Seventy eight and paise forty eight only) as on 10.11.2016. The prayer is to issue Recovery Certificate for recovery of the outstanding amount due as per decree together with future interest from the defendants and by sale of the decree schedule property.

5. During the pendency of the OA, the applicant has filed IA 2227/2016 seeking for an attachment of the IA schedule property and the Tribunal vide order dated 21.12.2016 allowed the attachment sought in the IA 2227/2016 and the same was communicated to the SRO/VO.

6. Thus, in view of the above, the applicant bank is entitled to get a final order directing to issue Recovery Certificate on the following lines:-

"In the result, it is ordered to issue Recovery Certificate in terms of the decree dated 15.12.2012 in OS No.58/2012 of the Sub Court, Thodupuzha for recovery and payment to the applicant bank, the sum of Rs.10,95,078.48[Rupees Ten Lakhs Ninety Five thousand Seventy Eight and paise Forty Eight only] together with future interest on the sum of Rs.6,50,000/- [Rupees Six Lakhs Fifty Thousand only] @12% per annum from 11.11.2016 till realization from the defendants and from their assets and by sale of property attached as per order in IA.No.2227/2016 dated 21.12.2016.

7. Schedule property attached as per order in IA.No.2227/2016 dated 21.12.2016 shall be appended to this order.

8. 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 the steno, transcribed by her, corrected by me and then pronounced in the open court on this the 01^st day of September, 2018]*


ATTACHMENT SCHEDULE PROPERTY

All that piece and parcel of land admeasuring 15.18 Ares (37.5 cents) together with building bearing No.XIV-39 of Adimaly Panchayat comprised in Survey No.224 Part in Re.Sy.No.657/4 in Block No.5 in Chattupara Kara, Mannamkandam Village, Devikulam Taluk, Idukki District, Kerala.

BOUNDARIES

East : Property of Nedungattil Ammini

South : Property of Pattimattathil Saidu and Pathway

West : Thodu

North : 3 feet wide pathway

(Property in the name of Sri. Aliyar M.S. as per Settlement deed No. 1483/1999 dated 02.06.1999 and Rectification deed No. 73/1/2001 dated 06.01.2001 of SRO Devikulam)

(The approximate value of the property is Rs.8 Lakhs)

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**IN THE DEBTS RECOVERY TRIBUNAL-II, KERALA AT ERNAKULAM**

Dated this the 01^st day of September, 2018

**Present: S.V.Gowramma, B.A., LL.B** **Presiding Officer**

TA.No.04/2017 (OA.No.528/2016)

**Between**

The Federal Bank Ltd., ...Applicant

**And**

M/s Mattappalli Cement Products, & another ...Defendants

**FINAL ORDER**