CANARA BANK vs Dr. P.L RAJIT LAL on 26 May 2018

**FINAL ORDER**

The Original Application is filed under Section 31A of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as 'the Act') by the applicant herein, the applicant is the decree holder bank in O.S.No.103/2002 of the Sub Court, Neyyattinkara for issuance of Recovery Certificate in terms of the decree dated 07.04.2003 for recovery of the amount of Rs.6,93,300/- with interest @16.50% per annum from the date of the suit till realization along with costs from the defendants and by sale of decree schedule property.

2TA.No.994/2016 (OA.No.184/2015)**BRIEF FACTS OF THE CASE**

1. The applicant is Canara Bank a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 having its head office at Bangalore and one of its Branch Office at Puthenchanthai, Thiruvananthapuram. The Manager and Principal Officer of the applicant is entitled to sign and verify the pleadings on behalf of the applicant on the strength of the power of attorney executed in his favour.

2. The applicant declares that the application is within the limitation prescribed under Section 24 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 as the decree was passed on 07.04.2003.

3. It is the case of the applicant bank that defendants had availed various credit facilities from the applicant bank and the debt is due and payable by the defendants as per the decree dated 07.04.2003 in OS.No.103/2002 of Sub Court, Neyyattinkara. As per the decree, the applicant is entitled to realize an amount of Rs.6,93,300/- with future interest @16.5% per annum from the date of the suit till the realization and by sale of decree schedule property. An amount of Rs.31,259/- was awarded as costs. Since the defendants so far has not paid the amount due as per the decree, the applicant is constrained to file this OA for realization of decree amount. As per the decree an amount of Rs.24,30,944/- is due to the applicant from the defendants as on the date of this application.

4. After filing of the OA, the applicant has taken out summons on defendants as directed by the Tribunal and filed proof of 3No.994/2016 (OA.No.184/2015)

service on 22.06.2015. The summons issued to the defendants was duly served on them and service of summons was completed as per the regulations. Inspite of service of summons defendants neither appeared nor were they represented and thus they were declared *exparteon* 10.04.2017.

5. 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 07.04.2003 in O.S.No.103/2002 of the Sub Court, Neyyattinkara for recovery and payment to the applicant bank, the sum of Rs.6,93,300/- (Rupees Six lakhs ninety three thousand and three hundred only) with further interest thereon @ 16.5% per annum from 05.07.2002 till realisation together with costs of Rs.31,259/- (Rupees Thirty one thousand two hundred and fifty nine only) allowed as per decree and also the costs of the applicant bank in this proceedings, from the defendants and by sale of the decree schedule property."

6. The schedule to the decree shall be appended to this order.

7. 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 him, corrected by me and then pronounced in the open court on this the 26^th day of May, 2018]

4TA.No.994/2016 (OA.No.184/2015)**APPENDIX****Documents on the part of the applicant**

<table border="1"><thead><tr><th><u>Documents.</u></th><th><u>Date</u></th><th><u>Particulars of documents</u></th></tr></thead><tbody><tr><td>A1</td><td>07.04.2003</td><td>Certified copy of the Judgment and Decree passed by the Sub Court, Neyyattinkara in O.S.No.103/2002.</td></tr></tbody></table>

[F

(PRESIDING OFFICER)

താമരക്കോട്ട - വാഴിക്കൽ

വെളുപ്പിക്കൽ

പാലക്കൽ

കാഞ്ഞിരപ്പാണ്ടി

കൊച്ചൻപാണ്ടി

പൊൻമുത്തുകാടം

69/1A 1967-ൽ കൊച്ചൻപാണ്ടിയിൽ 69/15 1967-ൽ കൊച്ചൻപാണ്ടിയിൽ

പൊൻമുത്തുകാടം കൊച്ചൻപാണ്ടി കാഞ്ഞിരപ്പാണ്ടി കൊച്ചൻപാണ്ടി പൊൻമുത്തുകാടം

69/1A 1967-ൽ കൊച്ചൻപാണ്ടിയിൽ 69/15 1967-ൽ കൊച്ചൻപാണ്ടിയിൽ

പൊൻമുത്തുകാടം കൊച്ചൻപാണ്ടി കാഞ്ഞിരപ്പാണ്ടി കൊച്ചൻപാണ്ടി പൊൻമുത്തുകാടം

69/1A 1967-ൽ കൊച്ചൻപാണ്ടിയിൽ 69/15 1967-ൽ കൊച്ചൻപാണ്ടിയിൽ

പൊൻമുത്തുകാടം കൊച്ചൻപാണ്ടി കാഞ്ഞിരപ്പാണ്ടി കൊച്ചൻപാണ്ടി പൊൻമുത്തുകാടം

മുതലിക്കാർ - താമരക്കോട്ട

കൊച്ചൻപാണ്ടി പാളത്തിൽ

പൊൻമുത്തുകാടം ക്ഷേമം പാളം

30-ം കിഴക്കൻ പാളം, തെക്കൻ 130-ം

പിന്നെയുള്ള 101-ം 102-ം പാളങ്ങൾ

കാഞ്ഞിരപ്പാണ്ടി പാളങ്ങൾ പൊൻമുത്തുകാടം

പൊൻമുത്തുകാടം

Deccan

7. [F

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

Dated this the 26^th day of May, 2018

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

**Between**

Canara Bank, Puthenchanthai Branch. ...Applicant

**And**

Dr.P.L.Rajit Lal & another ...Defendants

**FINAL ORDER**