CANARA BANK vs P B Shreedhar on 2 April 2024

**O R D E R**

1. This Original Application is filed by the Applicant Bank, under Order Section 19 (1) of the RDDB & FI Act, 1993, 2TA 912/2019

a. to direct the Defendants personally, jointly & severally to pay to the Applicant Bank a sum of Rs.14,36,401/- together with future interest (KCC loan @ 9% per annum + 2% penal interest and Farm Machinery Loan @ 10.75% per annum + 2% penal interest) from the date of Application, till the date of its realization ; failing which

b. to direct the Applicant Bank to bring the properties which are mentioned in the Schedule of Property for sale and the sale proceeds appropriated for recovery of a sum of Rs.14,36,401/- together with future interest (KCC loan @ 9% per annum + 2% penal interest and Farm Machinery Loan @ 10.75% per annum + 2% penal interest) from the date of Application, till the date of its realization, with Costs of this OA.

**BRIEF FACTS**

2. The Averments made by the Applicant Bank in the Application are stated as follows:

2.1. The Defendants applied for Credit Facilities from the Applicant Bank for the purpose of minor Irrigation Farm Development and Land Development Activities viz., on 13.10.2004 for KCCS Loan for a sum of Rs.2,00,000/- and on 24.01.2005 for Farm Machinery Loan for a sum of Rs.4,69,000/-. After availing of the said facilities, the Defendants executed the necessary documents in favour of Applicant Bank.

2.2. The Defendants created an Equitable Mortgage over their properties by Deposit of Title Deeds on 14.10.2004 and the same was confirmed by Letter evidencing Deposit of Title Deeds on 15.10.2004. Further the Defendants executed Acknowledgement of Debt cum Security on 15.03.2007, 11.03.2010, 10.03.2013, 15.03.2007, 18.03.2010 & 15.03.2012.

3TA 912/2019

2.3. The Defendants though have availed the entire sanctioned limit amount under the said facilities and they have not chosen to repay the loan dues. Despite repeated Demands and Reminders made by the Applicant Bank, the Defendants had not paid the amount. Therefore, the Applicant Bank issued Notices through the Counsel dated 04.07.2011, 17.08.2011 & 03.05.2012. Therefore, the Applicant Bank filed this OA against the Defendants and this Hon'ble Tribunal may be allowed the OA with Costs.

3. The Defendants were called absent and set ex-parte on 01.01.2014.

4. The Applicant Bank, in order to prove its claim, has filed Proof Affidavit executed by one Shri.M.Giriprasath, Branch Manager of the Applicant Bank and marked the documents as Exts.A-1 to A-24 in support of its claim and reiterated the statements made in the Original Application. A cumulative analysis of both the Proof Affidavit and documents marked by the Applicant Bank would prove on the basis of the claim in the Proof Affidavit filed by the Applicant Bank.

5. Therefore, in view of the observations made supra, the OA stands allowed and the Applicant Bank is entitled to recover,

a. from the Defendants personally, jointly and severally for a sum of Rs.14,36,401/- with future interest @ 10% per annum (Agricultural Loan) from the date of Application, till the date of its realization ; failing which,

b. the Applicant Bank is directed to bring the Properties which are mentioned in the Schedule of Property for sale and the sale proceeds appropriated for recovery of a sum of Rs.14,36,401/- with future interest @ 10% per annum (Agricultural Loan) from the date of Application, till the date of its realization with Costs of this OA.

4TA 912/2019

6. In the result,

a. it is hereby directed that the Defendants personally, jointly and severally to pay to the Applicant Bank Rs.14,36,401/- with future interest @ 10% per annum (Agricultural Loan), from the date of Application, till the date of its realization with Costs.

b. On failure to pay, the Applicant Bank is hereby directed to bring the Properties which are mentioned in the Schedule of Property for sale and the sale proceeds appropriated for recovery of a sum of Rs.14,36,401/- with future interest @ 10% per annum (Agricultural Loan) from the date of Application, till the date of its realization with Costs of this OA.

7. All the pending IAs. if any, stand closed and disposed of by this Tribunal.

8. The Registry is directed to prepare DRC in terms of this Final Order. The Applicant Bank shall file memo of costs within 15 days from the date of this Order.

9. The Registry is directed to communicate the copy of this Order to both parties as provided in Rule 16 of the Debts Recovery Tribunal (Procedure) Rules, 1993 as amended in 2016.

*(Dictated to Steno, directly typed on the Computer corrected and pronounced by me in the open Tribunal, this the 02^nd day of April, 2024)*

.

Sd/-

**[M.P. BALASUBRAMANIAN]** **PRESIDING OFFICER**

5

TA 912/2019

**SCHEDULE OF PROPERTY**

<thead> <tr> <th rowspan="3">S. No.</th> <th rowspan="3">Survey No.</th> <th rowspan="3">Extent of Property</th> <th rowspan="3">Village</th> <th rowspan="3">Taluk/Hob</th> <th rowspan="3">District</th> <th colspan="4">LOCATION OF PROPERTY</th> </tr> <tr> <th colspan="4">Boundaries</th> </tr> <tr> <th>North</th> <th>South</th> <th>East</th> <th>West</th> </tr> </thead> <tbody> <tr> <td>1.</td> <td>SF 954 B</td> <td>P.a. 2.17</td> <td>Kavundapadi</td> <td>Bhavani</td> <td>Erode</td> <td>7</td> <td>8</td> <td>9</td> <td>10</td> </tr> <tr> <td>2.</td> <td>SF 954 C</td> <td>P.a. 2.74</td> <td>Kavundapadi</td> <td>Bhavani</td> <td>Erode</td> <td>Gounder</td> <td>Gounder</td> <td>Murugana</td> <td>Gounder</td> </tr> <tr> <td>3.</td> <td>SF 954 D</td> <td>P.a.0.63</td> <td>Kavundapadi</td> <td>Bhavani</td> <td>Erode</td> <td>Property</td> <td>Property</td> <td>Gounder</td> <td>Property</td> </tr> <tr> <td>4.</td> <td>SF 955 A1</td> <td>P.a.0.25</td> <td>Kavundapadi</td> <td>Bhavani</td> <td>Erode</td> <td></td> <td></td> <td>Vahaira</td> <td></td> </tr> <tr> <td>5.</td> <td>SF 955 A3</td> <td>P.a.0.12</td> <td>Kavundapadi</td> <td>Bhavani</td> <td>Erode</td> <td></td> <td></td> <td>Property</td> <td></td> </tr> <tr> <td>6.</td> <td>SF 955 B1</td> <td>P.a.1.08</td> <td>Kavundapadi</td> <td>Bhavani</td> <td>Erode</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>7.</td> <td>SF 955 B3</td> <td>P.a.0.01</td> <td>Kavundapadi</td> <td>Bhavani</td> <td>Erode</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>8.</td> <td>SF 498A1A</td> <td>P.a.0.25</td> <td>Kavundapadi</td> <td>Bhavani</td> <td>Erode</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>9.</td> <td>SF 948A1C</td> <td>P.a.0.30</td> <td>Kavundapadi</td> <td>Bhavani</td> <td>Erode</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>10.</td> <td>SF 746</td> <td>P.a.1.02</td> <td>Kavundapadi</td> <td>Bhavani</td> <td>Erode</td> <td></td> <td></td> <td></td> <td></td> </tr> <tr> <td>11.</td> <td>854 D3</td> <td>P.a.0.08</td> <td>Kavundapadi</td> <td>Bhavani</td> <td>Erode</td> <td></td> <td></td> <td></td> <td></td> </tr> </tbody> </table>

**Total 8.65. In this common half 4.325 acres**

Sd/-

**[M.P. BALASUBRAMANIAN] PRESIDING OFFICER**

6TA 912/2019**PROOF AFFIDAVIT OF THE APPLICANT BANK**

1. Shri. M. Giriprasath, Branch Manager.

**LIST OF DOCUMENTS MARKED BY THE APPLICANT BANK**

<thead> <tr> <th>Sl. No.</th> <th>Date</th> <th>Description of Document</th> <th>Exhibits</th> </tr> </thead> <tbody> <tr> <td>1</td> <td>13.10.2004</td> <td>Application cum appraisal Form for Kisan Credit Card Scheme (KCCS) executed by the Defendants in favour of Applicant Bank.</td> <td>A.1</td> </tr> <tr> <td>2</td> <td>18.10.2004</td> <td>Agreement and Deed of Hypothecation for Kisan Credit executed by Defendants in favour of Applicant Bank.</td> <td>A.2</td> </tr> <tr> <td>3</td> <td>15.03.2007</td> <td>Acknowledgement of Debt and Security executed by Defendants in favour of Applicant Bank.</td> <td>A.3</td> </tr> <tr> <td>4</td> <td>11.03.2010</td> <td>Acknowledgement of Debt and Security executed by Defendants in favour of Applicant Bank.</td> <td>A.4</td> </tr> <tr> <td>5</td> <td>11.03.2010</td> <td>Acknowledgement of Debt and Security executed by Defendants in favour of Applicant Bank.</td> <td>A.5</td> </tr> <tr> <td>6</td> <td>10.03.2013</td> <td>Acknowledgement of Debt and Security executed by Defendants in favour of Applicant Bank.</td> <td>A.6</td> </tr> <tr> <td>7</td> <td>24.01.2005</td> <td>Application for Agricultural Credit Loan given by the Defendants in favour of Applicant Bank.</td> <td>A.7</td> </tr> <tr> <td>8</td> <td>24.01.2005</td> <td>Application for Purchase of Tractor / Power Tiller /Farm Machinery given by the Defendants in favour of Applicant Bank.</td> <td>A.8</td> </tr> <tr> <td>9</td> <td>24.01.2005</td> <td>Memorandum of Agreement For Agricultural Loans executed by Defendants in favour of the Applicant Bank.</td> <td>A.9</td> </tr> <tr> <td>10</td> <td>15.03.2007</td> <td>Acknowledgement of Debt and Security executed by Defendants in favour of the Applicant Bank.</td> <td>A.10</td> </tr> <tr> <td>11</td> <td>18.03.2010</td> <td>Acknowledgement of Debt and Security executed by Defendants in favour of the Applicant Bank.</td> <td>A.11</td> </tr> <tr> <td>12</td> <td>15.03.2012</td> <td>Acknowledgement of Debt and Security</td> <td>A.12</td> </tr> </tbody> </table>

7TA 912/2019

<tr> <td></td> <td></td> <td>executed by Defendants in favour of the Applicant Bank.</td> <td></td> </tr> <tr> <td>13</td> <td>07.10.2004</td> <td>Notarized Copy of Affidavit of Declaration executed by Defendants in favour of the Applicant Bank.</td> <td>A.13</td> </tr> <tr> <td>14</td> <td>15.10.2004</td> <td>Letter Evidencing Deposit of Title Deeds executed by Defendants in favour of the Applicant Bank.</td> <td>A.14</td> </tr> <tr> <td>15</td> <td>11.12.1972</td> <td>Sale Deed executed by K. Sengotaiyan in favour of P.N. Balasubramanian.</td> <td>A.15</td> </tr> <tr> <td>16</td> <td>15.09.2004</td> <td>Patta (3 in Nos.) in respect of Patta No.2611, 2487 &amp; 1658, S.F.Nos.817, 819 (1) &amp; 818 (2) of and Chitta 2611 of 046 Kavundhappadi Village, Bhavani Taluk</td> <td>A.16</td> </tr> <tr> <td>17</td> <td>06.08.2004</td> <td>Adangal Extract for 1412 Fasli in respect of S.F.No.817 of 46 Kavundhappadi Village, Bhavani Taluk.</td> <td>A.17</td> </tr> <tr> <td>18</td> <td>03.09.2004</td> <td>Kist Receipt for 1411 Fasli in Patta No.2611 of 46 Kavundhappadi Village, Bhavani Taluk.</td> <td>A.18</td> </tr> <tr> <td>19</td> <td>29.11.1999</td> <td>Certified Copy of Death Certificate of P.N. Balasubramaniam.</td> <td>A.19</td> </tr> <tr> <td>20</td> <td>10.09.2004</td> <td>Attested Copy of Legal Heir Ship Certificate of P.N. Balasubramaniam.</td> <td>A.20</td> </tr> <tr> <td>21</td> <td>04.07.2011</td> <td>Copy of Legal Notice issued by the Applicant Bank to the Defendants.</td> <td>A.21</td> </tr> <tr> <td>22</td> <td>17.08.2011</td> <td>Copy of Legal Notice issued by the Applicant Bank to the Defendants.</td> <td>A.22</td> </tr> <tr> <td>23</td> <td>03.05.2012</td> <td>Copy of Legal Notice issued by the Applicant Bank to the Defendants.</td> <td>A.23</td> </tr> <tr> <td>24</td> <td>--</td> <td>Statement of Accounts.</td> <td>A.24</td> </tr> </table>

Sd/-

**[M.P. BALASUBRAMANIAN]** **PRESIDING OFFICER**