Debts Recovery Tribunals and Appellate Tribunals
UNION BANK OF INDIA vs THE OFFICIAL LIQUIDATOR on 2 November 2026
IN THE DEBTS RECOVERY TRIBUNAL –I AT CHENNAI
Dated this 2nd Day of November, 2026
PRESENT: SHRI A.S.JAYACHANDRA
Presiding Officer
TA 26 of 2023
[Old OA No.292 of 2014, DRT, Coimbatore]
BETWEEN:
Union Bank of India,
17, Mill Road,
Coimbatore – 641 001
. . . Applicant
AND
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1. The Official Liquidator,
Office of the Official Liquidator,
(In the Provisional Liquidation of
M/s. VTX Industries Limited),
High Court of Madras, Corporate Bhawan,
Second Floor, No. 29, Rajaji Salai,
Chennai – 600 001.
2. A.L. Ramachandran,
Chairman & Managing Director,
166A, Tea Estate Compound,
Race Course, Coimbatore – 641 018.
3. Jayanthi Ramachandran,
Managing Director,
166A, Tea Estate Compound,
Race Course,
Coimbatore – 641 018
4. M/s. Seshraj Enterprises Private Limited., 10/400, Palghat Main Road, Kuniamuthur, Coimbatore – 641 008.
5. M/s. J.M. Financial Asset Reconstruction Company Private Limited, 7th Floor, CNERGY
Appasaheb Marathe Marg,
Prabhadevi, Mumbai – 400 025.
6. M/s. Punjab National Bank,
(E-United Bank of India),
24/831-832,Oppanakara Branch,
Coimbatore – 641 001.
7. M/s. J.M. Financial Asset Reconstruction Company Private Limited, 7th Floor, CNERGY
Appasaheb Marathe Marg,
Prabhadevi, Mumbai – 400 025.
8. Punjab National Bank,
No. 1057, Jaya Enclave,
Avinashi Road,
Coimbatore – 641 018.
9. M/s. Yes Bank,
No. 1027 A, Avinashi Road,
Coimbatore - 641 018
. . . Defendants
: - PROCEEDINGS DT.02.11.2026 - :
1. File taken up today upon the report of the registry pointing out to the typographical error found in the operative portion of the order in TA 26 of 2023.
2. Perused the file.
3. It is found from the final order dated 06.10.2026 at the para no. 38, it is held that the recovery certificate could be issued only against D2 & D3 for the sum adjudged along with the interest @9% p.a. from the date of decree till realization.
4. However in the operative portion of the order at para no. III the same is mentioned as @6% p.a.
5. This is purely typographical error and the same stands corrected as @9% p.a.
6. Thus, the operative portion at para no. III be read as; “III. The above sum shall be paid by the defendants 2 & 3 less the deductions already realized along with interest @9% p.a. from the date of this order till realization; defendants 2 & 3 shall be personally liable to make good the above sum.”
7. This order shall be the part and parcel of the final order dated 06.10.2026 and the same be communicated to the parties concerned.
8. Recovery certificate be issued accordingly. Sd/- (A.S.JAYACHANDRA) PRESIDING OFFICER DRT-I, CHENNAI