Debts Recovery Tribunals and Appellate Tribunals
PUNJAB AND SIND BANK vs Amar Dinesh on 20 September 2022
IN THE DEBTS RECOVERY TRIBUNAL – III, CHENNAI
Dated this the 20th day of September, 2022
Present: Shri Ganapathi K.R.K.
Presiding Officer
M.A. No. 85/22 in OASR No.1198/2021
Punjab & Sind Bank
Mogappair Branch
No.2, 403, Seethakathi salai
Block 12, Block 3,
J.J.Nagar, Mogappair East,
Chennai 600 037
Represented by its Manager. …Petitioner
Vs.
1. Amar Dinesh
S/o C. Thangadurai,
No.6, Canal Bank Road
Mylapore,
Chennai 600 004.
2. A.Rajasobana
W/o.Amar Dinesh
No.6, Canal Bank Road
Mylapore,
Chennai 600 004.
....Respondents
Counsel for Applicant
:
Sh. P. Reghuraja
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O R D E R
1. This MA is filed by the Petitioner / Applicant Bank for condonation of delay of 133 days in re-presenting the Original Application after complying with the office objections.
2. It is the case of the petitioner / applicant bank that the OA was returned for compliance on 03.01.2022. However, as the bundle got mixed with other case bundles, applicant could not able to re-present the OA within time granted by this Tribunal and therefore prays to condone the delay.
3. On perusal of records, it is seen that this is an OA filed for recovery of sum of Rs.24,68,179.24p towards Housing loan and Rs.3,59,170/- towards auto loan and thereby aggregating 28,27,349.24p at the rate of interest @ 10.75% respectively, It is not explained anywhere in the petition as to how applicant bank will be entitled to claim interest at the contractual rate for the period of delay, which is owing to their inaction and not attributable to any action of the defendant. As the period of delay is on the very high side, condonation of the same by levying formal amount in the form of costs payable either to the Library Fund or to any Charity organization as a measure of reprimand would not be justifiable when compared with the levy of interest burden on the defendants for the period of default on the part of the applicant bank for no fault of the borrower.
4. However, in the circumstances, this MA is allowed on the condition that the subject of levy of interest for the defaulted period (133 days) which is condoned at this stage of the OA proceedings shall stand for consideration at the time of issuance of Recovery Certificate by the progress of the case and the conduct of the case on behalf of the applicant bank till the stage of issuance of the recovery certificate. Registry is directed to put up a note accordingly for consideration of claim of interest for this default period at the time of drawing of the Recovery Certificate in case for an order thereto by the Tribunal.
5. Registry is directed to number the OA, if otherwise found to be in order. (Dictated to PS, transcribed by her, corrected, corrected, signed and processed through E-drt on this the 20th day of September, 2022)
Sd/-
(GANAPATHI K.R.K) PRESIDING OFFICER