Allowed

Indian Overseas Bank v. Sri Bannari Amman Enterprises and Another

DRT11 Oct 2022OA/69/2022

Case brief

AI extract

What is this about?

The IC admitted an Interlocutory Application filed by a bank seeking appointment of an Advocate Commissioner to inspect and compare loan documents held by the CBI regarding a fraud case involving the respondents, allowing the prayer and appointing Ms. Pallavi Bhaskaran.

What did the court decide?

Appointment of Ms. Pallavi Bhaskaran as Advocate Commissioner. Remuneration fixed at Rs. 15,000 to be paid by the applicant bank.

Indian Overseas Bank versus Sri Bannari Amman… — Contract and Commercial Disputes | DRT (2022)

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11.10.2022

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IA No.1173/22 in OA No.69/2022

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 11^th day of October, 2022

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Present: Shri Ganapathi K.R.K Presiding Officer

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IA No.1173/2022 in OA No.69/2022

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Indian Overseas Bank Valasaravakkam Branch Rep. by its Manager No.1, East Kamakodi Nagar Off.Arcot Road, Valasaravakkam Chennai – 600 087

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....Applicant

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Versus

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M/s. Sri Bannari Amman Enterprises Rep. by its Proprietor Mr.K.Prasanth Kumar A3, Sunrise Apartments, A Block Golden George Nagar Nerkundrum

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Chennai - 600 107

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Mr.K.Prasanth Kumar S/o. Mr. Kalatharanpillai A-A3, Sunrise Apartments Justice Rathnavel Pandian Street Nerkundram Chennai – 600 107 Also at: Mr.K.Prasanth Kumar S/o. Mr. Kalatharanpillai 57, Jallikuli Street, Rangasamuthuram Sathyamangalam – 638 402 ....Defendants

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Counsels on record / appeared:

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Counsel for petitioner : M/s Annal.P

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11.10.2022

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IA No.1173/22 in OA No.69/2022

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O R D E R

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This interlocutory application is filed by petitioner / applicant bank praying to appoint an Advocate Commissioner to inspect and compare documents/records pertaining to the Loan account of defendants, pending on the file of Central Bureau of Investigation, Anti Corruption Branch, 3^rd Floor, Shastri Bhawan, 26, Haddows Road, Chennai – 600 006.

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This OA is filed by applicant bank for recovery of a sum of Rs.50,38,722.14p together with future interest at the rate of 10.5% p.a. compounded with monthly rests from the date of application till the date of realization in full.

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In the main OA, defendants were called absent and set ex-parte on 06.06.2022. Despite issuance of copy of IA to defendants by applicant bank, defendants did not choose to either enter appearance or file any counter.

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This IA was taken up for hearing on 11.10.2022. Heard Ld. Counsel for applicant bank and perused the material documents available on record. It is the case of applicant bank subsequent to sanction of credit facility by applicant bank and availing the same by defendant, since it came to the knowledge of applicant bank that there is a fraud that has been committed in this account along with 21 other borrowers, a complaint was lodged with Central Bureau of Investigation registered as Case No. RC 032/2021. In pursuance thereof and on the requisition of the Inspector of Police, CBI/ACB/ Chennai vide its Letter dated 11.10.2021, applicant bank had submitted all original documents contemplated to be marked as Exhibits in the OA proceedings along with proof affidavit before this Tribunal relating to the above loan account, for a detailed investigation with Central Bureau of Investigation, Anti -

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11.10.2022

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IA No.1173/22 in OA No.69/2022

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Corruption Branch, 3^rd Floor, Shastri Bhawan, 26, Haddows Road, Chennai – 600 006. Applicant bank had filed the notarized copies of loan documents along with proof affidavit dated 24.08.2022. Hence, applicant bank prayed for appointing an Advocate Commissioner for the purpose of inspecting and comparing the documents/records pertaining to the Loan account of defendants, pending on the file of Central Bureau of Investigation, Anti Corruption Branch, 3^rd Floor, Shastri Bhawan, 26, Haddows Road, Chennai – 600 006.

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In view of the above circumstances, this IA is allowed and Ms.Pallavi Bhaskaran, Advocate is appointed as Advocate Commissioner for the purpose of inspecting, comparing and verifying the copies of the documents with the original documents lying in custody of Central Bureau of Investigation, Anti Corruption Branch, 3^rd Floor, Shastri Bhawan, 26, Haddows Road, Chennai – 600 006. The remuneration of Advocate Commissioner for the purpose is fixed at Rs.15,000/- to be paid by applicant bank directly and file proof thereof.

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The Advocate Commissioner is directed to issue advance notice about the execution of commands of the warrant to the Ld. counsel appearing for applicant bank as well as to the Central Bureau of Investigation, Anti Corruption Branch, 3^rd Floor, Shastri Bhawan, 26, Haddows Road, Chennai – 600 006, with whom the custody of documents is stated to be submitted by applicant bank and also issue notices to defendants / borrowers by RPAD about the execution of warrant. Advocate commissioner to then proceed to verify each and every page of document including the number of pages, signatures and dates and categorically describe the same document wise in her report. Applicant bank is directed to furnish copies of all the pages of the documents to verify and confirm the same in two sets to the

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11.10.2022

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IA No.1173/22 in OA No.69/2022

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Advocate Commissioner for execution of the warrant. The Advocate Commissioner is directed to file report by 11.11.2022. Accordingly, Registry is directed to issue

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warrant to the Advocate Commissioner.

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Call on 11.11.2022 for filing report by Advocate Commissioner. A copy of the order be communicated to the parties concerned as per the extant guidelines.

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(Dictated to Stenographer (DD), transcribed by her, corrected, signed and pronounced by me in the Open Court on this the 11^th day of October, 2022)

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Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER

Indian Overseas Bank v. Sri Bannari Amman Enterprises and Another

Case brief

What is this about?

What did the court decide?

Indian Overseas Bank v. Sri Bannari Amman Enterprises and Another

Case brief

What is this about?

What did the court decide?

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