Debts Recovery Tribunals and Appellate Tribunals
CENTRAL BANK OF INDIA vs SAIJU S on 19 August 2017
**IN THE DEBTS RECOVERY TRIBUNAL-2, KERALA AT
ERNAKULAM**
Dated this the 19<sup>th</sup> day of August, 2017
**Present: S. V. Gowramma, B.A., LL.B**
**Presiding Officer**
IA No.1435/2017
in
TA No.1273/2016 (OA No.551/2015)
**Between**
Central Bank of India
...Petitioner/Applicant
**And**
S.Saiju
...Respondent/Defendant
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**ORDER**
1. The petitioner has filed the instant IA seeking to issue Recovery Certificate as claimed in the OA.
2. The petitioner has come out with an affidavit of its Deputy Regional Manager stating *inter alia* that the above OA has been filed for realization of a sum of Rs.50,33,818/- together with interest and costs from the date of OA till date of realization from the defendant and by sale of 'A' to 'D' schedule properties to the OA and also from other assets of the defendant. The OA has been compromised in National Lok Adalat held at DRT-2 on 11.02.2017 and as per the terms of compromise, the defendant was indebted to remit a sum of Rs.47 lakhs in lump-sum to the applicant bank on or before 24.03.2017. On payment of the aforesaid sum, the bank was directed to return the title deeds or in failure to pay the amount, benefit of the compromise be withdrawn and the bank was declared to be entitled to recover the entire amount as claimed in the OA with interest and costs till recovery in full from the defendant and by sale of the hypothecated/mortgaged properties shown in the OA and also from the other assets of the defendant, both movable and immovable properties. However, the defendant has not paid any amount as per the award and hence it is prayed to issue Recovery Certificate as claimed in the OA.
3. On perusal of records, it could be seen that the Tribunal had on 18.02.2017 disposed of the OA and connected IAs pursuant to the award passed in the National Lok Adalat held at DRT-2, Ernakulam on 11.02.2017 by directing the Registry to refund Rs.11,500/- to the petitioner/applicant bank being the refund amount to which it is entitled under S.19(3A) of the RDDBFI Act r/w R.4(b) of the Debts Recovery Tribunal (Refund of Court Fee) Rules, 2013. As per the award, the defendant had to pay an amount of Rs.47 lakhs to the petitioner/applicant bank on or before 24.03.2017. It was made clear in the award that in the event of failure to pay the amount as aforesaid, the defendant shall forfeit the benefits of compromise and he shall have no objection for issuance of Recovery Certificate for the entire amount claimed in the OA with interest and costs, less payments effected subsequent to passing of the award, on filing of necessary application before the Tribunal intimating the instance of such default.
4. According to the petitioner/applicant bank, the defendant has not paid any amount as per the award dated 11.02.2017 and, therefore, they are entitled for a Recovery Certificate in terms of the default clause set out therein.
5. In the light of the above, IA No.1435/2017 stands allowed. The Registry is hereby directed to issue Recovery Certificate in terms of the award dated 11.02.2017.
[Redacted Signature]
**Presiding Officer**