Debts Recovery Tribunals and Appellate Tribunals
CANARA BANK vs Mr.KMunisamy & 2 Others on 13 February 2019
Canara Bank
VadakkumangudiBranch,
Vadakkumangudi,
Thanjavur District 614 303,
Thanjavur
…..Applicant bank
-
Vs
-
(1) KamatchiAmmal
W/o Late ASundarraj,
South Street, Siddarkadu,
AgaramangudiPapanasam taluk, Thanjavur District 614 303., Thanjavur
(2) S Baskar
S/o Late ASundarraj,
South Street, Siddarkadu,
Agaramangudi
Papanasam taluk, Thanjavur District 614 303.
,
(3) S Rajendran
S/o Late ASundarraj,
South Street, Siddarkadu,
AgaramangudiPapanasam taluk,
Thanjavur District 614 303.,
(4) S Ravi
S/o Late ASundarraj, South Street,
Siddarkadu, AgaramangudiPapanasam taluk, Thanjavur District 614 303.
BEFORE THE DEBTS RECOVERY TRIBUNAL –I ATCHENNAI
Dated this 13th Day of February, 2019
Present: SHRI N.V.BADARINATH
PRESIDING OFFICER
TA152/2018
(OA 54/2018 on the file of DRT-III, Chennai)
(5) S Jagdeesh Kumar
S/o Late ASundarraj, South Street, Siddarkadu, AgaramangudiPapanasam taluk, Thanjavur District 614 303.
(6) SulochanaThirunavukkarasu
W/o Thirunavukkarasu and D/o Late ASundarraj, S/o Late A Sundarraj, South Street, Siddarkadu, Agaramangudi Papanasam taluk, Thanjavur District - 614 303.
(7) Umarani Balasubramanian
w/o Balasubramanian and D/o Late ASundarraj, S/o Late A Sundarraj, South Street, Siddarkadu, AgaramangudiPapanasam taluk, Thanjavur District 614 303.,
(8). SumathiVijayakumar
w/o Vijayakumar and D/o Late ASundarraj, South Street, Siddarkadu, Agaramangudi Papanasam taluk, Thanjavur District 614 303.
(9). GomathiAmarsingh
W/o Amarsingh and D/o Late ASundarraj, South Street, Siddarkadu, Agaramangudi Papanasam taluk, Thanjavur District 614 303
(10). AmudhaSampathkumar
W/o Sampathkumar and D/o Late ASundarraj, South Street, Siddarkadu, Agaramangudi Papanasam taluk, Thanjavur District 614 303.
…. Defendants
Counsel for the Applicant Bank
: M/s M. Muthukumaran
Defendants remained exparte.
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ORDER
1. This application is filed by the applicant bank under Section 19(1) of Recovery of Debts and Bankruptcy Act, 1993 (formerly Recovery of Debts Due to Banks and Financial Institutions Act, 1993) against the defendants jointly and severally for recovery of a sum of Rs.22,72,588/- together with interest at 14.20% per annum with half yearly rests from the date of filing of the application till the date of realization in full, from and out of the estate of deceased A. Sundarraj, along with costs of this application.
2. Defendants remained exparte.
3. Heard the Ld. Counsel for the applicant, perused the OA averments and the record placed before the Tribunal. The point that arises for consideration is Whether the applicant bank is entitled for the amount claimed in the application from the defendants? If so, at what rate of interest?
4. Point Whether the applicant bank is entitled for the amount claimed in the application from the defendants? If so, at what rate of interest? 4.1 To prove its claim, the applicant bank filed proof affidavit through its Manager along with 18 documents, which are marked as Ex.A1 to A18. The proof affidavit of the applicant bank remain unchallenged and unrebutted. Therefore, on careful consideration of proof affidavit along with Exhibits filed on behalf of the applicant bank, besides the material placed before the Tribunal, the Tribunal is satisfied that the applicant bank has successfully proved the TA claim against the defendants. 4.2 Therefore, it is held that the applicant bank is entitled for a Recovery Certificate for a sum Rs.22,72,588/- together with pendent lite and future interest at 9% per annum (simple) from the date of filing of the application till the date of realization in full. Point is answered accordingly.
5. For the reasons stated as above, it is held that the applicant bank is entitled for a Recovery Certificate against the defendants 1 to 10, for recovery of a sum of Rs.22,72,588/- together with pendent lite and future interest at 9% per annum (simple) from the date of filing of the application till the date of realization in full, and the defendants are liable only to the extent of estate inherited by them from deceased A. Sundarraj.
6. In the result, application is allowed as under:
(a) The applicant bank is entitled to recover from the defendants 1 to 10, a sum of Rs Rs.22,72,588/- together with pendent lite and future interest at 9% per annum (simple) from the date of filing of the application till the date of realization in full, (b) It is further ordered that the defendants 1 to 10 are liable only to the extent of estate inherited by them from deceased A. Sundarraj,
(c) It is further ordered that in case of default of payment by the defendants, the applicant bank is entitled to sell the application schedule mentioned property and adjust the sale proceeds towards the amount due.
(d) It is further ordered that amount remitted or realized, if any, during the course of the proceedings, shall be given due credit to the loan account of the defendants.
(e) The applicant bank is entitled for costs of this application.
7. The applicant bank is directed to file costs memo within two weeks of the receipt of this order.
8. Issue recovery certificate in favour of the applicant bank in terms of this final order.
9. Communicate a copy of the order to the parties concerned in terms of Rule 16 read with Rule 2(c) of DRT (Procedure)Rules, 1993. (Dictated to stenographer (PS), transcribed by him, corrected, signed and pronounced by me in the Open Court, this 13th day of February,2019) (N.V.BADARINATH) PRESIDING OFFICER DRT-I, CHENNAI