CANARA BANK vs K R Nanjundan on 15 November 2023

**O R D E R**

1. This Original Application is filed by the Applicant Bank, under Section 19 (1) of the RDDB & FI Act, 1993,

a. to direct the Defendant personally to pay to the Applicant Bank a sum of Rs.18,54,489/- together with interest at the rate of 13.95% per annum with penal interest at 2% p.a., from the date of Application, till the date of its realization, failing which, 

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b. to direct to bring the, hypothecated movable property more fully described in the Schedule 'A' and mortgaged property described in Schedule 'B', which are mentioned hereunder and the sale proceeds appropriated for recovery of Rs.18,54,489/- together with interest at the rate of 13.95% per annum with penal interest at 2% p.a., 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 Defendant applied Agricultural Term Loan for a sum of Rs.7,00,000/- for the purchase of New Tractor and Trailer for the usage of Agricultural Activities on 02.11.2005. The Applicant Bank considered the loan application of the Defendant and the same was sanctioned on 22.11.2005 and the Defendant executed necessary Loan Documents in favour of the Applicant Bank on 22.11.2005.

2.2. The Defendant had created an Equitable Mortgage over his property on 18.11.2005 by deposit of Title Deeds in favour of the Applicant Bank by way of executing the Memorandum of Deposit of Title Deed for the loan availed by him on 21.11.2005.

2.3. Despite the repeated Demands and Reminders made by the Applicant Bank, the Defendant did not pay any amount. Therefore, the Applicant Bank issued Legal Notice on 08.12.2011. On receipt of the said Notice, the Defendant had not turned up to settle the loan dues. Therefore, the Applicant Bank filed this OA against the Defendants for recovery of the OA amount with interest & Costs, and this Hon'ble Tribunal may be allowed the OA with Costs.

3. The Defendant was called absent set exparte on 05.09.2017.

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1. 4. The Applicant Bank, in order to prove its claim, has filed Proof Affidavit executed by Mr. R. Arulmani, Senior Manager of the Applicant Bank and marked the documents as Exts.A-1 to A-13 in support of its claim in the OA. A cumulative analysis of both the Proof Affidavits and documents marked by the Applicant Bank would prove the claim of the Applicant Bank in the OA.

2. 5. The Ld. Counsel for the Applicant Bank had filed Written Argument. In Written Argument the Ld. Counsel for the Applicant Bank had reiterated the Statements in the OA and submitted that Final Order may passed in terms of the Written Arguments.

3. 6. Therefore, in view of the observations made supra, the OA stands allowed and the Applicant Bank is entitled to recover from the Defendant, personally & severally, a sum of Rs.18,54,489/- together with interest at the rate of 12% (Agricultural Loan) per annum, from the date of Application to till the date of its realization, and by sale of the hypothecated "A" Schedule property and mortgaged "B" Schedule property, with Costs of this OA.

4. 7. In the result, the Defendant is directed personally & severally to pay to the Applicant Bank for a sum of Rs.18,54,489/- together with interest at the rate of 12% per annum (Agricultural Loan) from the date of Application to till the date of its realization. On failure to pay the above said debt to the Applicant Bank, the Applicant Bank is directed to bring the hypothecated "A" Schedule property and mortgaged "B" Schedule property, for sale to realize its dues, with costs of this OA.

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

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1. 9. 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.

2. 10. 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 15^th day of November, 2023.*

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

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**SCHEDULE OF PROPERTIES**

**"A" SCHEDULE**

Tractor bearing Registration No.TN-36-Y-8634

**SCHEDULE B**

All that piece and parcel of land and building existing and /or to be constructed thereon and shown under Schedule B below together with necessary easementary and appurtenants thereto.

<tr> <td>District</td> <td>:</td> <td>Erode</td> </tr> <tr> <td>Regd. District</td> <td>:</td> <td>Gobichettipalayam</td> </tr> <tr> <td>Sub Regd. Office</td> <td>:</td> <td>Puliyampatti</td> </tr> <tr> <td>Taluk</td> <td>:</td> <td>Sathiyamangalam</td> </tr> <tr> <td>Village</td> <td>:</td> <td>Ukkaram</td> </tr> </table>

**Survey No.**

**Extent**

**Boundaries**

<table border="0"> <tr> <td>G.S.660A</td> <td>P.A. 3.93 ½ cent</td> <td>North : G.S.661, 662</td> </tr> <tr> <td>R.S.812/1,2,3,4,5, &amp; 7</td> <td></td> <td>South : Chinnappa Naicker<br/>Vahaira Land</td> </tr> <tr> <td></td> <td></td> <td>East : North – South Road</td> </tr> <tr> <td></td> <td></td> <td>West : G.S.690</td> </tr> </table>

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

**PROOF AFFIDAVIT OF THE APPLICANT BANK**

1. Mrs. R. Arulmani, Senior Manager

2. **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>02.11.2005</td> <td>Original – Application given by the Defendant for Agricultural Credit Loan to the Applicant Bank.</td> <td>A.1</td> </tr> <tr> <td>2</td> <td>22.11.2005</td> <td>Original – Appraisal Report – Purchase of Tractor/Power Tiller/Farm Machinery of Applicant Bank.</td> <td>A.2</td> </tr> </tbody> </table>

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<tr> <td>3</td> <td>22.11.2005</td> <td>Original – Application for Purchase of Tractor/Power Tiller/Farm Machinery of Defendant to the Applicant Bank.</td> <td>A.3</td> </tr> <tr> <td>4</td> <td>22.11.2004</td> <td>Original – Memorandum of Agreement for Agricultural Loan executed by the Defendant in favour of Applicant Bank.</td> <td>A.4</td> </tr> <tr> <td>5</td> <td>13.12.2005</td> <td>Xerox Copy of Form of Certificate of Registration in TN-36-Y-8634 in favour of Defendant.</td> <td>A.5</td> </tr> <tr> <td>6</td> <td>18.11.2005</td> <td>Original – Affidavit of Declaration of Defendant.</td> <td>A.6</td> </tr> <tr> <td>7</td> <td>21.11.2005</td> <td>Original – Memorandum of Deposit of Title Deeds executed by the Defendant in favour of Applicant Bank.</td> <td>A.7</td> </tr> <tr> <td>8</td> <td>12.04.1972</td> <td>Original – Partition Deed executed between Nanjundan, Rangammal, Chinna Rangammal, Thimmakkal and Thimmanaicken.</td> <td>A.8</td> </tr> <tr> <td>9</td> <td>19.10.2005</td> <td>Computerized Patta in Patta No.762, , 1147, 2513, 2301, 1369, 2768, 894, 1158 of 065-Ukkaram-E of Sathyamangalam.</td> <td>A.9</td> </tr> <tr> <td>10</td> <td>05.11.2005</td> <td>Certificate -2 Nos. 2 – Nos. of Kist Receipts for the Faslis 1414, True Copy of Rough Sketch of S.F.Nos.893, 879, 880 and True Copy of Rough Sketch of S.F.No.812 of 65 Ukkaram Village of Sathiamangalam given by the VAO of 65 Ukkaram Village, Sathiamangalam and Copy of A- Register.</td> <td>A.10</td> </tr> <tr> <td>11</td> <td>26.10.2005</td> <td>Certified Copy of Encumbrance Certificate from 01.01.1975 to 25.10.2005 in respect of R.S.Nos.812/1, 812/2, 812/3, 812/4, 812/5, &amp; 812/7 and 812/3 of Ukkaram Village, Sathiamangalam.</td> <td>A.11</td> </tr> <tr> <td>12</td> <td>08.12.2011</td> <td>Xerox copy of Legal Notice issued by the Applicant Bank to the Defendant with Acknowledgement Card.</td> <td>A.12</td> </tr> <tr> <td>13</td> <td>--</td> <td>Statement of Accounts.</td> <td>A.13</td> </tr> </table>

[M.P. BALASUBRAMANIAN] PRESIDING OFFICER