Allowed

City Union Bank Limited v. Kaviparameshwaran

DRT6 Aug 2025OA/510/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal fixed a final order under Section 19(1) of the RDBFI Act, 1993 (now RDB Act, 1993). The Bank proved its case via documents filed by the Branch Manager, including demand promissory notes and revival letters. The Tribunal allowed the application, directing repayment of dues at specified interest rates, excluding penal interest on capital, with liberty to sell mortgaged pr

What did the court decide?

Defendants directed to pay Rs.39,91,654/- with interest (6% for KCC and Agri Term, 14.5% for Overdraft and working capital) within one month; liberty to sell mortgaged properties on default.

City Union Bank Limited versus Kaviparameshwaran — Banking and Recovery | DRT (2025)

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OA No. 510/2023

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Fair Order

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IN THE DEBTS RECOVERY TRIBUNAL AT MADURAI DATED THIS 06^TH DAY OF AUGUST, 2025 PRESENT: SEEMA SINHA, [PR. DISTRICT & SESSIONS JUDGE – Retd]

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PRESIDING OFFICER

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OA No.510/2023

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Between

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The City Union Bank Limited., D.No.213-1A, Opp to C.F.Hospital, Dindigul-Palani Main Road, Dindigul District – 624 619, Rep. By its Branch Manager. ---Applicant Bank

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And

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Mr. T. Kaviparameshwaran,

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S/o Thirumalaisamy,

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D.No.14, Reddiar Street, Sriramapuram,

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Dindigul District – 624 622.

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Mrs. K. Priya, W/o T. Kaviparameshwaran, D.No.14, Reddiar Street,

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Sriramapuram,

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Dindigul District – 624 622 ---Defendants

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Counsel for the Applicant Bank : M/s R. Pandivel.

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This Original Application was heard and fixed for passing final order before me in the presence of the above said Advocate for Applicant Bank and the Defendants having been set ex-parte and upon hearing the arguments of Counsel for Applicant Bank and upon perusing the material available on the records and having stood over for consideration till this day, this Tribunal delivered the following:

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OA No. 510/2023

JUDGEMENT

1 . This Application has been filed under Sec.19 (1) of the "The Recovery of Debts due to Banks and Financial Institutions Act, 1993" now amended as The Recovery of Debts and Bankruptcy Act, 1993 by the Applicant Bank on 11.07.23 to recover from the Defendants a total sum of Rs.39,91,654/i.e., (i) Rs.29,713/- together with interest at the rate of 11.25% p.a. with half yearly rests plus penal interest at the rate of 2%p.a. in respect of Kisan Credit Card Facility (ii) Rs.26,30,649/- together with interest at the rate of 14.50% p.a. with monthly rests plus penal interest at the rate of 2%p.a. in respect of overdraft facility (iii) Rs.5,57,543/- together with interest at the rate of 14.50% p.a. with monthly rests plus penal interest at the rate of 2%p.a. in respect of working capital Term Loan (iv) Rs.7,73,749/- together with interest at the rate of 12.25% p.a. with monthly rests plus penal interest at the rate of 2%p.a. in respect of Agricultural Term Loan from the date of filing of Application till the date of realization with cost and by sale of mortgaged/hypothecated properties, more fully described in Schedules of the application.

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2 . The brief averments of the application filed by the Applicant Bank are as follows:-

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The Defendants approached the Applicant Bank for availing Kisan Credit Card facility, Agricultural term Loan, Overdraft facility & working capital Term Loan . After due consideration, the Applicant Bank accepted the request of the defendants and sanctioned KCC to the limit of Rs.2,10,000/- Overdraft facility to the limit of Rs.25,00,000/- Agricultural Term Loan for a sum of Rs.12,30,000/- and working capital Term loan for a sum of Rs.15,00,000/- after executing necessary documents in favour of the Applicant Bank.

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Kisan Credit Card Facility

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The defendants executed a Demand promissory note on 21.08.17 for a sum of Rs.2,10,000/- in favor of the applicant bank as a continuing security by promising to repay the loan amount on demand with compound interest at the rate of 10.50%p.a with half yearly rests or at such other rates changed from time to time by applicant bank. Further defendants executed a letter of continuity containing terms & conditions on 21.08.17 and an undertaking to abide the overdraft rules on 21.08.17 in favor of the Applicant bank. The 1^st defendant executed Agreement of Hypothecation by hypothecating the goods & book debts mentioned in “A” Schedule which are fully described and agreed to repay the loan with interest & Cost as enumerated in the agreement. The defendants by admitting &

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OA No. 510/2023

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acknowledging their liabilities executed Revival letters & Balance Confirmation letters dt.19.05.20 & 16.02.23 in favour of the applicant bank.

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Overdraft Facility

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The defendants executed a Demand promissory note on 21.08.17 for a sum of Rs.25,00,000/- in favour of the applicant bank as a continuing security by promising to repay the loan amount on demand with compound interest at the rate of 13.75%p.a with monthly rests or at such other rates changed from time to time by applicant bank. Further defendants executed a letter of continuity containing terms & conditions on 21.08.17 and an undertaking to abide the overdraft rules on 21.08.17 in favor of the Applicant bank. The defendants by admitting & acknowledging their liabilities executed Revival letters & Balance Confirmation letters dt.19.05.20 & 16.02.23 in favour of the applicant bank.

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Working Capital Term Loan

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The applicant bank sanctioned the Working capital Term loan for a sum of Rs.15,00,000/- to the defendants and by accepting the terms & conditions the defendants counter signed the sanction letter dt.21.09.18. The defendants executed a Demand promissory note on 26.09.18 for a sum of Rs.15,00,000/- in favor of the applicant bank as a continuing security by promising to repay the loan amount on demand with compound interest at the rate of 13.75%p.a with monthly rests or at such other rates changed from time to time by applicant bank. The defendants have undertaken to repay the said working capital Term Loan in 60 monthly installments of Rs.34,708.27 each with interest & Cost. Further defendants executed Application cum undertaking for loan dt.26.09.18 in favour of the applicant bank. The defendants by admitting & acknowledging their liabilities executed Revival letter & Balance Confirmation letter dt.19.03.21 in favour of the applicant bank.

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Agricultural Term Loan

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The applicant bank sanctioned the Agricultural Term loan for a sum of Rs.12,30,000/- to the defendants and by accepting the terms & conditions the defendants counter signed the sanction letter dt.09.02.21. The defendants executed a Demand promissory note on 23.02.21 for a sum of Rs.12,30,000/- in favor of the applicant bank as a continuing security by promising to repay the loan amount on demand with interest at the rate of 11.50%p.a with monthly rests or at such other rates changed from time to time by applicant bank. The defendants have undertaken to repay the said Agricultural Term Loan in 10 half yearly installments of Rs.1,23,000/- each

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OA No. 510/2023

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with interest & Cost. Further defendants executed Application cum undertaking for loan dt.23.02.21 in favour of the applicant bank.

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Common to All Loans & Facilities

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The 1^st defendant offered his properties which are more fully described in “B” Schedule hereunder as security and thereby they have deposited / redeposited their Title Deeds on 19.08.17, 25.09.18 & 20.02.21 with the applicant bank pertaining to his properties, with an intention to create an equitable mortgage over the said properties. By confirming the same the 1^st defendant executed registered Memorandum of deposit of Title deeds dt.21.08.17 & 26.09.18 & 22.02.21 in favour of the Applicant bank.

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After availing the loan, defendants were not regular in the matter of repayment. The defendants made several promises, but they failed to keep up their promises. Thus the Applicant bank issued demand notice dt.17.11.22 to the defendants. Despite repeated demands and reminders, made by the Applicant Bank, the Defendants have failed and neglected to repay and adjust their liability. Hence, the Applicant Bank has filed the OA for recovery of a total sum of Rs.39,91,654/-i.e., (i) Rs.29,713/- together with interest at the rate of 11.25% p.a. with half yearly rests plus penal interest at the rate of 2%p.a. in respect of Kisan Credit Card Facility (ii) Rs.26,30,649/- together with interest at the rate of 14.50% p.a. with monthly rests plus penal interest at the rate of 2%p.a. in respect of overdraft facility (iii) Rs.5,57,543/- together with interest at the rate of 14.50% p.a. with monthly rests plus penal interest at the rate of 2%p.a. in respect of working capital Term Loan (iv) Rs.7,73,749/- together with interest at the rate of 12.25% p.a. with monthly rests plus penal interest at the rate of 2%p.a. in respect of Agricultural Term Loan from the date of filing of Application till the date of realization with cost.

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The Applicant Bank has submitted the following documents in support its claim in the OA, which are as follows:

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List of Documents Loan Documents

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Kisan Credit Card Facility

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S. No.	Date	Description of document	Exhibits
1.	18.08.17	Sanction letter counter signed by the defendants in favour of the applicant bank	Ex.No.A-01
2.	21.08.17	Demand promissory note executed by the defendants in favour of the Applicant bank	Ex.No.A-02

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OA No. 510/2023

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3.	21.08.17	Letter of continuity executed by the defendants in favour of the applicant bank	Ex.No.A-03
4.	21.08.17	Letter containing Terms & conditions with regard to Overdraft Rules executed by the defendants in favour of the applicant bank	Ex.No.A-04
5.	21.08.17	Agreement for hypothecation executed by the 1^stdefendant in favour of the applicant bank	Ex.No.A-05
6.	19.05.20	Revival letter executed by the defendants in favour of the applicant bank	Ex.No.A-06
7.	19.05.20	Balance confirmation letter executed by the defendants in favour of the applicant bank	Ex.No.A-07
8.	----	Statement of Accounts maintained by the Applicant bank in regular course and conduct ofthe business	Ex.No.A-08

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Overdraft Facility

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S. No.	Date	Description of document	Exhibits
1.	21.08.17	Demand promissory note executed by the defendants in favour of the Applicant bank	Ex.No.A-09
2.	21.08.17	Letter of continuity executed by the defendants in favour of the applicant bank	Ex.No.A-10
3.	21.08.17	Letter containing Terms & conditions with regard to Overdraft Rules executed by the defendants in favour of the applicant bank	Ex.No.A-11
4.	19.05.20	Revival letter executed by the defendants in favour of the applicant bank	Ex.No.A-12
5.	19.05.20	Balance confirmation letter executed by the defendants in favour of the applicant bank	Ex.No.A-13
6.	16.02.23	Revival letter executed by the defendants in favour of the applicant bank	Ex.No.A-14
7.	16.02.23	Balance confirmation letter executed by the defendants in favour of the applicant bank	Ex.No.A-15
8.	----	Statement of Accounts maintained by the Applicant bank in regular course and conduct of the business	Ex.No.A-16

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Working Capital Term Loan

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S. No.	Date	Description of document	Exhibits
1.	21.09.18	Sanction letter counter signed by the defendants in favour of the applicant bank	Ex.No.A-17
2.	26.09.18	Demand promissory note executed by the defendants in favour of the Applicant bank	Ex.No.A-18

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OA No. 510/2023

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3.	26.09.18	Application cum undertaking for loan executed by the defendants in favour of the Applicant bank	Ex.No.A-19
4.	19.03.21	Revival letter executed by the defendants in favour of the applicant bank	Ex.No.A-20
5.	19.03.21	Balance confirmation letter executed by the defendants in favour of the applicant bank	Ex.No.A-21
6.	----	Statement of Accounts maintained by the Applicant bank in regular course and conduct of the business	Ex.No.A-22

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Agricultural Term Loan

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S. No.	Date	Description of document		Exhibits
1.	09.02.21	Sanction letter counter signed by defendants in favour of the applicant ban	the k	Ex.No.A-23
2.	23.02.21	Demand promissory note executed by defendants in favour of the Applicant ban	the k	Ex.No.A-24
3.	23.02.21	Application cum undertaking for executed by the defendants in favour of Applicant bank	loan the	Ex.No.A-25
4.	----	Statement of Accounts maintained by Applicant bank in regular course conduct of the business	the and	Ex.No.A-26

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Common to all loans & facilities

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S. No.	Date	Description of document	Exhibits
1.	21.08.17	Registered Memorandum of deposit of Title deeds executed by the 1^stdefendant in favour of the applicant bank	Ex.No.A-27
2.	26.09.18	Registered Memorandum of deposit of Title deeds executed by the 1^stdefendant in favour of the applicant bank	Ex.No.A-28
3.	22.02.21	Registered Memorandum of extension of equitable Mortgage executed by the 1^st defendant in favour of the applicant bank	Ex.No.A-29
4.	17.11.22	Demand notice issued by the Applicant Bank to the defendants	Ex.No.A-30

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List of Documents

Annexure I

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OA No. 510/2023

Title deeds deposited by 1^st defendant with regard to Item No.1 of “B” Schedule Mortgage Properties

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S. No.	Date	Description of document	Exhibits
1.	20.01.97	Registered Sale deed executed by Rasiyappa Gounder & others in favour of Periasamy & Rajalakshmi(Doc.No.53/97)	Ex.No.A-31
2.	27.04.12	Registered Settlement deed executed by Rajalakshmi in favour of Kaviparameshwaran (Doc.No.1170/12)	Ex.No.A-32
3.	05.07.16	Registered Settlement deed executed by Kaviparameshwaran in favour of Kandasamy (Doc.No.1544/16)	Ex.No.A-33
4.	30.05.17	Patta downloaded from Government website standingin the name of Kaviparameshwaran	Ex.No.A-34

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List of Documents

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Annexure II

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Title deeds deposited by 1^st defendant with regard to Item No.2 of “B” Schedule Mortgage Properties

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S. No.	Date	Description of document	Exhibits
1.	---	“A” Register downloaded from Government website standing in the name of Arunachal Naicker	Ex.No.A-35
2.	05.07.16	Registered Sale deed executed by Kandasamy & others in favour of Kaviparameshwaran (Doc No.1543/16)	Ex.No.A-36
3.	30.05.17	Patta downloaded from Government website standingin the name of Kaviparameshwaran	Ex.No.A-37

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Schedule of Properties

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“A” Schedule Hypothecated Goods

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All standing crops situated in the “B” Schedule Mortgage Properties

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“B” Schedule Mortgage Properties

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Item No.1

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(Property belonging to 1^st Defendant vide Annexure – I for Title Deeds)

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Dindigul District, Palani Registration District, Oddanchatram Sub Registration District, Dindigul West Taluk, Palakanoothu Village, land

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OA No. 510/2023

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measuring 0.02.17 Hectares in RS.No.548/2B1 & another land measuring 0.35.18 Hectares in R.S.No.548/2B3 totaling 0.37.35 Hectares equivalent to 92 cents equivalent to 40115 Sq.ft out of Southern 0.42.0 Hectares in the total extent of 0.84.0 Hectares in old S.No.584/2 within the following boundaries

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On the North On the East	: Northern Part in S.No.548/2 belongs to Periyasamy : Property belonging to Arunachalam Naicker
On the South	: Property belonging to Periyasamy in S.No.548/3A
On the West	: North – South Road

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Item No.2

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(Property belonging to 1^st Defendant vide Annexure – II for Title Deeds

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Dindigul district, Palani Registration District, Oddanchatram Sub Registration District, Dindigul West Taluk, Palakanoothu Village, land measuring South –Western 1 acre 20 cents equivalent to 0.48.50 hectares equivalent to 4860 Sq.mt equivalent to 52295 Sq.ft out of 5 acre 32 cents comprised in Old S.No.541/2 corresponding to S.No.541/2B within the following boundaries

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On the North	: Property belonging to kandasamy & others in S.No.541/2
On the East	: Property belonging to kandasamy & others in S.No.541/2
On the South	: Property belonging to kandasamy & others in S.No.541/2 on the Southern end by 6 feet breadth North-South
On the West	: Property belonging to Kaviparameshwaran

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3 . On the other hand, Notices were issued to Defendants and since from the beginning of the case, there was no representation on behalf of the Defendants. Hence, Defendants were set ex-parte.

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4. Now the main point for consideration before me is as to whether the Applicant has been able to prove his case on his own leg?

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Having gone through the affidavit of the applicant and the documents filed by them and also considering the submission of the counsel for the Applicant, I find that the Applicant Bank, in order to prove its claim, has filed Proof Affidavit executed by one Mr. S. Ruban, who is the Branch Manager of the Applicant Bank.

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He has stated in his affidavit that the defendants has availed Kisan Credit Card Facility, Agricultural Term Loan, Overdraft Facility & Working

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OA No. 510/2023

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Capital Term Loan from the Applicant Bank, but they failed to pay the outstanding loan amount, hence he has filed the case. The applicant bank has also filed the documents given by the defendants at the time of sanctioning the loan amount, which have been marked as exhibits No.A-01 to A-37 in support of its claim in the OA.

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The Sanction letter counter signed by the defendants in favour of the applicant bank has been marked as Ex.No.A-01, Demand promissory note executed by the defendants in favour of the Applicant bank has been marked as Ex.No.A-02, Letter of continuity executed by the defendants in favour of the applicant bank has been marked as Ex.No.A-03, Letter containing Terms & conditions with regard to Overdraft Rules executed by the defendants in favour of the applicant bank has been marked as Ex.No.A04, Agreement for hypothecation executed by the 1st defendant in favour of the applicant bank has been marked as Ex.No.A-05, Revival letter executed by the defendants in favour of the applicant bank has been marked as Ex.No.A-06, Balance confirmation letter executed by the defendants in favour of the applicant bank has been marked as Ex.No.A-07, Statement of Accounts maintained by the Applicant bank in regular course and conduct of the business has been marked as Ex.No.A-08, Demand promissory note executed by the defendants in favour of the Applicant bank has been marked as Ex.No.A-09, Letter of continuity executed by the defendants in favour of the applicant bank has been marked as Ex.No.A-10.

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Letter containing Terms & conditions with regard to Overdraft Rules executed by the defendants in favour of the applicant bank has been marked as Ex.No.A-11, Revival letter executed by the defendants in favour of the applicant bank has been marked as Ex.No.A-12, Balance confirmation letter executed by the defendants in favour of the applicant bank has been marked as Ex.No.A-13, Revival letter executed by the defendants in favour of the applicant bank has been marked as Ex.No.A-14, Balance confirmation letter executed by the defendants in favour of the applicant bank has been marked as Ex.No.A-15, Statement of Accounts maintained by the Applicant bank in regular course and conduct of the business has been marked as Ex.No.A-16, Sanction letter counter signed by the defendants in favour of the applicant bank has been marked as Ex.No.A-17, Demand promissory note executed by the defendants in favour of the Applicant bank has been marked as Ex.No.A-18, Application cum undertaking for loan executed by the defendants in favour of the Applicant bank has been marked as Ex.No.A-19, Revival letter executed by the defendants in favour of the applicant bank has been marked as Ex.No.A-20.

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Balance confirmation letter executed by the defendants in favour of the applicant bank has been marked as Ex.No.A-21, Statement of Accounts

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OA No. 510/2023

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maintained by the Applicant bank in regular course and conduct of the business has been marked as Ex.No.A-22, Sanction letter counter signed by the defendants in favour of the applicant bank has been marked as Ex.No.A-23, Demand promissory note executed by the defendants in favour of the Applicant bank has been marked as Ex.No.A-24, Application cum undertaking for loan executed by the defendants in favour of the Applicant bank has been marked as Ex.No.A-25, Statement of Accounts maintained by the Applicant bank in regular course and conduct of the business has been marked as Ex.No.A-26, Registered Memorandum of deposit of Title deeds executed by the 1st defendant in favour of the applicant bank has been marked as Ex.No.A-27, Registered Memorandum of deposit of Title deeds executed by the 1st defendant in favour of the applicant bank has been marked as Ex.No.A-28, Registered Memorandum of extension of equitable Mortgage executed by the 1st defendant in favour of the applicant bank has been marked as Ex.No.A-29, Demand notice issued by the Applicant Bank to the defendants has been marked as Ex.No.A-30.

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Registered Sale deed executed by Rasiyappa Gounder & others in favour of Periasamy & Rajalakshmi (Doc.No.53/97) has been marked as Ex.No.A-31, Registered Settlement deed executed by Rajalakshmi in favour of Kaviparameshwaran (Doc.No.1170/12) has been marked as Ex.No.A-32, Registered Settlement deed executed by Kaviparameshwaran in favour of Kandasamy (Doc.No.1544/16) has been marked as Ex.No.A-33, Patta downloaded from Government website standing in the name of Kaviparameshwaran has been marked as Ex.No.A-34, “A” Register downloaded from Government website standing in the name of Arunachal Naicker has been marked as Ex.No.A-35, Registered Sale deed executed by Kandasamy & others in favour of Kaviparameshwaran (Doc No.1543/16) has been marked as Ex.No.A-36, Patta downloaded from Government website standing in the name of Kaviparameshwaran has been marked as Ex.No.A-37. So the averments of the applicant as well as the statement of the pleading have been corroborated by the above mentioned documents.

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As the Defendants remained ex-parte, the claim of the Applicant Bank is neither disproved nor dislodged and goes on record as proved. Accordingly a cumulative analysis of both the Proof Affidavit and documents marked by the Applicant Bank would prove the claim of the Applicant Bank in the OA.

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So far the claim of interest is concerned, it is a well settled Law that the Tribunal has got powers to award pendente lite interest in view of the Judgment of the Hon’ble Supreme Court in N.M. Veerapa Vs Canara Bank (reported in AIR 98(1), 1101 & in Central bank of India Vs Ravindra and OS (AIR, 2001(1), 3095).

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OA No. 510/2023

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So far the penal interest is concerned Hon'ble supreme court stated in the said judgement as followed " Though interest can be capitalised on the anology that the interest falling due on the accrued date and remaining unpaid, partakes the character of amount advanced on that date, yet penal interest, which is charged by way of penalty for non payment, cannot be capitalized. Further interest, i.e interest on interest, whether simple, compound or penal, cannot be claimed on the amount of penal interest. Penal interest cannot be capitalized. It will be opposed to public policy ".

¶103

Therefore, this Original Application is allowed. The Applicant Bank is entitled for a final order on the following lines:-

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The Applicant Bank is entitled to recover from the Defendants, a total sum of Rs.39,91,654/-i.e., (i) Rs.29,713/- together with simple interest at the rate of 6% p.a. in respect of Kisan Credit Card Facility (ii) Rs.26,30,649/- together with interest at the rate of 14.50% p.a. with half yearly rests in respect of overdraft facility (iii) Rs.5,57,543/- together with interest at the rate of 14.50% p.a. with half yearly rests in respect of working capital Term Loan (iv) Rs.7,73,749/- together with simple interest at the rate of 6% p.a. in respect of Agricultural Term Loan from the date of filing of Application till the date of realization with cost. Accordingly, it is hereby

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ORDERED

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(a) That the Defendants are directed to pay jointly/severally for a total sum of Rs.39,91,654/-i.e., (i) Rs.29,713/- together with simple interest at the rate of 6% p.a. in respect of Kisan Credit Card Facility (ii) Rs.26,30,649/- together with interest at the rate of 14.50% p.a. with half yearly rests in respect of overdraft facility (iii) Rs.5,57,543/- together with interest at the rate of 14.50% p.a. with half yearly rests in respect of working capital Term Loan (iv) Rs.7,73,749/- together with simple interest at the rate of 6% p.a. in respect of Agricultural Term Loan from the date of filing of Application till the date of realization with cost within one month from the date of receipt of this order.

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(b) In case of default of payment by the above mentioned Defendants, the Applicant Bank is at liberty to sell the movable / immovable properties more fully described in Schedule of the original application for appropriation

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OA No. 510/2023

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of sale proceeds towards the satisfaction of amount due to the Applicant Bank.

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(c) If the sale proceeds are not sufficient, after defraying the expenses of such sale, for the payment of all such amounts, the defendants are jointly/severally liable to pay the amount of such deficiency with interest mentioned above until realization.

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(d) Any amount remitted during the course of this proceedings shall be given due credit, to the loan account of the defendants.

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(e) Recovery Certificate be prepared, as per the directions given above, and issue accordingly. A copy of the order is to be communicated to the parties concerned, immediately.

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(f) It is further ordered that the Applicant Bank shall file cost memo within a period of one month from the date of receipt of this order, so as to prepare the recovery certificate with cost for the Kisan Credit Card facility, Over draft facility, Working Capital term Loan, & Agricultural term Loan and the Recovery Officer is also directed to proceed with the matter in accordance with law. In case, cost memo is not filed before said period of one month, Recovery Certificate will be prepared with available records.

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Dictated to T.P, taken down, transcribed, typed by her, corrected and pronounced by me in the Open Court in this the 06^th August, 2025.

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Sd/- (SEEMA SINHA) PRESIDING OFFICER

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Uploaded on 16.09.2025

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OA No. 510/2023

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City Union Bank Limited v. Kaviparameshwaran

Case brief

What is this about?

What did the court decide?

City Union Bank Limited v. Kaviparameshwaran

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Cases cited

Statutes considered

Parties & counsel

Coram

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