Allowed

Uco Bank v. Abiz Thoothukudi Sea Food

DRT12 Nov 2025OA/658/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal considered an application for recovery of outstanding loan dues of approximately Rs. 34.5 lakh comprising CC Limit, Term Loan, and GECL. The court found the evidence filed by the bank sufficient as respondents appeared ex-parte.

What did the court decide?

Directed respondents to jointly/severally pay the principal sum of Rs.34,50,308.53 plus interest as per agreed rates with appropriate rests within one month.

Uco Bank versus Abiz Thoothukudi Sea Food — Banking and Recovery | DRT (2025)

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OA No. 658/2022

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Fair Order

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IN THE DEBTS RECOVERY TRIBUNAL AT MADURAI DATED THIS 12^TH DAY OF NOVEMBER, 2025 PRESENT: SEEMA SINHA,

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[PR. DISTRICT & SESSIONS JUDGE – Retd] PRESIDING OFFICER

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OA No.658/2022

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Between

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UCO Bank, Tuticorin Branch, No.148A, Elim Towers, 1^st Floor, Devarpuram Road, Tuticorin – 628 003. Rep. By its Senior Manager.

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---Applicant Bank

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And

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Abiz Thoothukudi Sea Food, Prop. Antony Abishaek, No. 394/7/1, Railway Feeder Road, Maharaja Nagar, Tirunelveli - 627 011.

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A. Antony Abishaek S/o. Asai Thambi, No.8-197-1, Bhavi Sri Nagar, near VVD School, Mappilai Urani, Thoothukudi-628 002.

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2(a) A.Antony Abishaek S/o. Asai Thambi, No.9A/134/3A - A.Shanmuga Puram, Aarokiya Puram Post, Thoothukudi Taluk Thoothukudi Disrict - 628 002.

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Page 1 of 13

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OA No. 658/2022

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2(b) A.Antony Abishaek S/o. Asai Thambi, No.10/465 Kumaran Nagar, Mappilai Urani Panchayat Thoothukudi Taluk Thoothukudi Disrict - 628 002. ---Defendants

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Counsel for the Applicant Bank : M/s T. Govindasamy

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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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JUDGEMENT

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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 22.08.2022 to recover from the Defendants a sum of Rs.34,50,308.53p i.e., (i) Rs. 17,25,250.82p together with interest at the rate of 8.45% p.a. with monthly rests in respect of CC Limit (ii) Rs. 12,07,048.14p together with interest at the rate of 8.20% p.a. with monthly rests in respect of Term Loan and (iii) Rs. 5,18,009.57p together with interest at the rate of 7.50% p.a. with monthly rests in respect of GECL 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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D-1 is the Proprietary concern and D-2 is the sole Proprietor of D-1. Both D-1 & D-2 are the Borrowers. Both D-1 & D-2 had approached the Applicant Bank by submitting the Loan Application Form for Pradhan Mantri Mudra Yojana duly executed by D-1 & D-2 dated 29.05.2020 enclosing there with Registration Certificate dated 11.03.2020 held in the name of D-1 and declared as D-2 is the Sole Proprietor of D-1,Udyog Aadhaar held in the name of D-1, PAN Card bearing No.CDHPA0124M held in the name of D-2, Election ID Card bearing No.RCP1129253 held in the name of D-2, Aadhaar Card bearing No.453288937259 held in the name of D-2, An unregistered Shop Rental Agreement dated 10.12.2019 entered into

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Page 2 of 13

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OA No. 658/2022

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between D-2 and one another and an unregistered Lease Agreement dated 28.01.2020 entered into between D-2 and one another before the Applicant Bank with the request for sanctioning of Mudra Loan of Rs.5,00,000/- to D- 1 & D-2 for the purpose of Business Development as the Working Capital Requirement. The Applicant Bank, after scrutiny of the aforesaid loan application and other documents furnished by the borrowers, had sanctioned the CC Limit of Rs.5,00,000/- to D-1 & D-2 and accordingly issued the sanction letter dated 02.06.2020 to them who had acknowledged the receipt of the same by agreeing to all the terms and conditions as stipulated there in the aforesaid sanction letter. In consideration of the aforesaid sanctioned Mudra Loan CC Limit of Rs.5,00,000/- availed by D-1 & D-2, as the borrowers, they had executed the following listed security loan documents in favour of the Applicant Bank on 05.06.2020.

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LIST OF SSECURITY LOAN DOCUMENTS EXECUTED BY D-1 & D-2

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Demand Promissory Note for Rs.5,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank dated 05.06.2020,

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Undertaking Letter for Rs.5,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank dated 05.06.2020.

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Take Delivery Letter to Demand Promissory Note for Rs.5,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank dated 05.06.2020.

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Composite Deed of Hypothecation for Rs.5,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank dated 05.06.2020.

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Both D-1 & D-2 had approached the Applicant Bank by submitting the Application for credit facilities under UCO Vyapar Samridhi Scheme duly executed by D-1 & D-2 dated 02.09.2020 enclosing there with quotation dated 24.08.2020 issued by Gunaa Kitchen Equipments and quotation dated 31.08.2020 issued by Red Feather Trader in the name of D-1, before the Applicant Bank with the request for sanctioning of Rs. 12,00,000/- as Term Loan under UCO Vyapar Samridhi Scheme for the purpose of purchase of assets for cafe. The Applicant Bank, after scrutiny of the aforesaid loan application and other documents furnished by the borrowers, had sanctioned the Term Loan of Rs. 12,00,000/- to D-1 & D-2 under UCO Vyapar Samridhi Scheme and accordingly issued the sanction letter dated 05.09.2020 to them who had acknowledged the receipt of the same by agreeing to all the terms and conditions as stipulated there in the aforesaid sanction letter. In consideration of the aforesaid sanctioned Term Loan of Rs.12,00,000/- availed by D-1 & D-2, as the borrowers, they had executed

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OA No. 658/2022

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the following listed security loan documents in favour of the Applicant Bank on 05.09.2020.

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LIST OF SSECURITY LOAN DOCUMENTS EXECUTED BY D-1 & D-2

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Demand Promissory Note for Rs.12,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank dated 05.09.2020.

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Undertaking Letter for Rs.12,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank dated 05.09.2020.

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Agreement Relating to Term Loan of Rs. 12,00,000/- duly executed by D- 1 & D-2 in favour of the Applicant Bank dated 05.09.2020.

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Composite Deed of Hypothecation for Rs.12,00,000/- duly executed by D- 1 & D-2 in favour of the Applicant Bank dated 05.09.2020.

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Both D-1 & D-2 had approached the Applicant Bank by submitting the Application for credit facilities under UCO Vyapar Samridhi Scheme duly executed by D-1 & D-2 dated 09.06.2021 enclosing there with Udyam Registration Certificate dated 17.10.2020 issued by Government of India, Ministry of MSME held in the name of D-1 before the Applicant Bank with the request for sanctioning of Rs.15,00,000/- as CC Limit under UCO Vyapar Samridhi Scheme for the purpose of Working Capital Requirements for the Development of Business. The Applicant Bank, after scrutiny of the aforesaid loan application and other documents furnished by the borrowers, had sanctioned the CC Limit of Rs.15,00,000/- to D-1 & D-2 under UCO Vyapar Samridhi Scheme by taking into account of the outstanding balance held in the aforesaid Mudra Loan CC Limit account of Rs.5,46,179.61/- as on 17.07.2021 and accordingly issued the sanction letter dated 17.07.2021 to them who had acknowledged the receipt of the same by agreeing to all the terms and conditions as stipulated there in the aforesaid sanction letter. In consideration of the aforesaid sanctioned CC Limit of Rs.15,00,000/- availed by D-1 & D-2, as the borrowers, they had executed the following listed security loan documents in favour of the Applicant Bank on 17.07.2021.

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LIST OF SSECURITY LOAN DOCUMENTS EXECUTED BY D-1 & D-2

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Demand Promissory Note for Rs.15,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank dated 17.07.2021.

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Undertaking Letter for Rs.15,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank dated 17.07.2021.

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OA No. 658/2022

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Take Delivery Letter to Demand Promissory Note for Rs.15,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank dated

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17.07.2021. 4. Composite Deed of Hypothecation for Rs.15,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank dated 17.07.2021.

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D-2 as the Guarantor had executed the Guarantee Agreement on 17.07.2021 in favour of the Applicant Bank in consideration of the aforesaid sanctioned CC Limit of Rs.15,00,000/- availed by D-1 & D-2 from the Applicant Bank. On 17.07.2021 itself, both D-1 & D-2 had executed the Acknowledgement of Debt/Securities in favour of the Applicant Bank in respect of the CC Limit Account of Rs.5,00,000/-(A.No.08860510000243).

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Both D-1 & D-2 had approached the Applicant Bank by submitting the application dated 19.01.2022 with the request for sanctioning of Additional Working Capital Term Loan facility of Rs.5,00,000/- under Guaranteed Emergency Credit Line (ECLGS 1.0 Extension) Scheme to them. The Applicant Bank had sanctioned the aforesaid GECL of Rs.5,00,000/- to D-1 & D-2 and accordingly issued the sanction letter dated 20.01.2022 to them. In consideration of the aforesaid sanctioned GECL of Rs.5,00,000/availed by D-1 & D-2, as the borrowers, they had executed the following listed security loan documents in favour of the Applicant Bank on 20.01.2022.

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LIST OF SSECURITY LOAN DOCUMENTS EXECUTED BY D-1 & D-2

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Demand Promissory Note for Rs.5,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank dated 20.01.2022.

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Undertaking Letter for Rs.5,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank dated 20.01.2022.

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Agreement Relating to GECL of Rs.5,00,000/- duly executed by D-1 & D- 2 in favour of the Applicant Bank dated 20.01.2022.

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Composite Deed of Hypothecation for Rs.5,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank dated 20.01.2022.

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F. The Applicant submits that both D-1 & D-2 had fully utilized the aforesaid sanctioned loans availed from the Applicant Bank. Since the aforesaid sanctioned Mudra Loan of Rs.5,00,000/- clubbed into the CC Limit of Rs.15,00,000/- sanctioned further to D-1 & D-2 on 17.07.2021. The aforesaid sanctioned Term Loan of Rs.12,00,000/- is repayable by 108 EMI of Rs.15,904/- each commencing from October 31 2020 and interest at

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OA No. 658/2022

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the rate of 8.20% per annum with monthly rests has to be serviced as and when applied. The aforesaid sanctioned CC Limit Rs.15,00,000/- is repayable on demand together with interest at the rate of 8.45% per annum with monthly rests and all the transaction have to be routed through the aforesaid account. The aforesaid sanctioned Additional Working Capital Term Loan of Rs.5,00,000/-availed by D-1 & D-2 is repayable by 36 EMI each by Rs.15,553/- together with interest at the rate of 7.50% per annum starting from 20.12.2023 with 24 months Moratorium Period starting from 28.02.2022.

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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. However, both the Defendants had thoroughly failed to comply with the agreed terms and conditions of sanction stipulation in repayment of loan dues to the Applicant Bank. Therefore the Applicant Bank had issued the Recall Notice dated 21.05.2022 to the Defendants by the recalling the entire loan dues held in the aforesaid Three Loan Accounts and accordingly advised them to settle the loan dues within 15 days from the date of such Recall Notice by them. However, there was no response from the Defendants side to show their Bonafide intention in settling the loan dues to the Applicant Bank. Thus, the loan accounts has been classified as NPA with effect from 06.05.2022.

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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 sum of Rs.34,50,308.53p i.e., (i) Rs. 17,25,250.82p together with interest at the rate of 8.45% p.a. with monthly rests in respect of CC Limit (ii) Rs. 12,07,048.14p together with interest at the rate of 8.20% p.a. with monthly rests in respect of Term Loan and (iii) Rs. 5,18,009.57p together with interest at the rate of 7.50% p.a. with monthly rests in respect of GECL 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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S. No.	Date	Description of document	Exhibits
1	29.05.2020	Loan Application form for Pradhan Mantri	Ex.No.A-01
		Mudra Yojana duly executed by D-1 & D-2 and submitted before the Applicant Bank
		enclosing there with Registration Certificate
		dated 11.03.2020 held in the name of D-1

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		and declared as D-2 is a Sole Proprietor, Udyog Aadhaar held in the name of D-1, PAN Card bearing No.CDHPA0124M held in the name of D-2, Election Id Card bearing No.RCP1129253 held in the name of D-2, Aadhaar Card bearing No.453288937259 held in the name of D-2, An unregistered Shop Rental Agreement dated 10.12.2019 entered into between D-2 and one another and an unregistered Lease Agreement dated 28.01.2020 entered into between D-2 and one another
2	02.06.2020	Sanction Letter for the Sanction of Mudra Loan CC Limit of Rs.5,00,000/-issued to D-1 & D-2 and duly acknowledged by them for the receipt of the same	Ex.No.A-02
3	05.06.2020	DPN for Rs.5,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank	Ex.No.A-03
4	05.06.2020	Undertaking Letter for Rs.5,00,000/-duly executed by D-1 & D-2 in favour of the ApplicantBank	Ex.No.A-04
5	05.06.2020	Take Delivery Letter to Demand Promissory Note for Rs.5,00,000/- duly executed by D-1 &D-2in favouroftheApplicantBank	Ex.No.A-05
6	05.06.2020	Composite Deed of Hypothecation for Rs.5,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank	Ex.No.A-06
7	02.09.2020	Application for credit facilities under UCO Vyapar Samridhi Scheme duly executed by D-1 & D-2 and submitted before the Applicant Bank enclosing there with quotation dated 24.08.2020 issued by Gunaa Kitchen Equipments and quotation dated 31.08.2020 issued by Red Feather Trader in the name of D-1	Ex.No.A-07
8	05.09.2020	Sanction Letter for the Sanction of Term Loan of Rs. 12,00,000/- issued to D-1 & D-2 and duly acknowledged by them for the receipt of the same	Ex.No.A-08
9	05.09.2020	DPN for Rs. 12,00,000/-duly executed by D- 1&D-2in favouroftheApplicantBank	Ex.No.A-09
10	05.09.2020	Undertaking Letter for Rs. 12,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank	Ex.No.A-10
11	05.09.2020	Agreement Relating to Term Loan for Rs. 12,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank	Ex.No.A-11

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12	05.09.2020	Composite Deed of Hypothecation for Rs. 12,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank	Ex.No.A-12
13	09.06.2021	Application for credit facilities under UCO Vyapar Samridhi Scheme duly executed by D-1 & D-2 and submitted before the Applicant Bank enclosing there with Udyam Registration Certificate dated 17.10.2020 issued by Government of India Ministry of MSME heldinthename of D-1	Ex.No.A-13
14	17.07.2021	Sanction Letter for the Sanction of Rs. 15,00,000 as CC-Limit issued to D-1 & D-2 and duly acknowledged by them for the receipt of the same	Ex.No.A-14
15	17.07.2021	DPN for Rs. 15,00,000/-duly executed by D- 1 & D-2in favour of the Applicant Bank	Ex.No.A-15
16	17.07.2021	Letter for Undertaking Rs. 15,00,000/-duly executed by D-1 & D-2 in favour of the ApplicantBank	Ex.No.A-16
17	17.07.2021	Take Delivery Letter to Demand Promissory Note for Rs. 15,00,000/- duly executed by D- 1 & D-2in favour of the Applicant Bank	Ex.No.A-17
18	17.07.2021	Composite Deed of Hypothecation for Rs. 15,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank	Ex.No.A-18
19	17.07.2021	Guarantee Agreement duly executed by D-2 for Rs. 15,00,000/- in favour of the Applicant Bank	Ex.No.A-19
20	17.07.2021	Acknowledgement of Debt/Securities duly executed by D-1 & D-2 in favour of the Applicant Bank in respect of CC-Limit Account of Rs.5,00,000/-	Ex.No.A-20
21	20.01.2022	Sanction Letter for the Sanction of Additional Working Capital Term Loan of Rs.5,00,000/- issued to D-1 & D-2	Ex.No.A-21
22	20.01.2022	DPN for Rs.5,00,000/- duly executed by D-1 & D-2in favour of the Applicant Bank	Ex.No.A-22
23	20.01.2022	Undertaking Letter for Rs.5,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank	Ex.No.A-23
24	20.01.2022	Agreement Relating to Term Loan Rs.5,00,000/-for duly executed by D-1 & D-2 in favour of the Applicant Bank	Ex.No.A-24
25	20.01.2022	Composite Deed of Hypothecation for Rs.5,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank	Ex.No.A-25
26	21.05.2022	Recall Notice sent by the Applicant Bank to D-1&D-2	Ex.No.A-26

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27 10.08.2022	Undertaking Letter to file English Translation	Ex.No.A-27
	for Tamil version documents whenever required
28 10.08.2022	Certificate U/s.2 (A)(a), 2(A)(b), 2(A)(c) and Certificate for Notional Interest of the Bankers Book Evidence Act,1891	Ex.No.A-28
29 10.08.2022	Statement of Accounts	Ex.No.A-29

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SCHEDULE-A

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DESCRIPTION OF MOVABLE PROPERTIES

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All movables more fully described therein the Hypothecation Agreement, Stock in Trade and Trade Debtors, other movable items Hypothecated in favour of the Applicant Bank purchase out of bank finance the details described hereunder as may be notified by the Defendants or the Applicant Bank from time to time.

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GKE DT 01-A3-4 SEATER Y Type Dining Table, GKE-Cha 03-A3 Line Round Wood Chair, SS 304G Fish Display Stand, GKE-DWT 01-B1 Sink With Water Tank Fully Stainless Steel, GKE-SIN 01-B5 Single Unit Sink With Work Space Fully, GKE-BaC 01-A2-Barbeque Charcoal Motor(Heavy Type), Imported Deep Fryer Single Power 2.5kw temp 50c to 200c capacity 8litr, Hot Line Insect Killer, Nova Sandwich Griller Watts: 1800, OTC NOVA 42 Ltr Capacity, PC Square Glass 300 ml, Nuts Cutter, Tissue Paper Stand, Melamine Square Dinner Plate, Melamine Soup Bowl White, Melamine Spoon White, Melamine Soup Saurcer White, Table Mat, Afron, Roxx Water Bottle - Blue Colour, Lemon Squeezer, PC Pillsuen Glass, Bill Folder, false ceiling area, ACP area, Art Painting, V-Board Partition, Art Painting, Vinyl Flooring, LED Board, Electrical lights, Material & Labour, Workstation 1300* 750, L Table 1500 * 750, L Table 900 * 750, L Table 900750, L Table 1300750, Storage Cabinets 2790 * 1070, Storage Cabinets 1800 * 1050 , Storage Cabinets 1000 * 1050 Storage Cabinets 900 * 1050 E-Commerce Website Development, Android Application Development, Cloud Server Amount, ERP Software for Management, Bulk SMS, KRT Warm LED Light, KRT Milk White LED Light, Havells Girik Wall 400MM Fan, Voltas 1.5 Ton 3 Star Split AC

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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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OA No. 658/2022

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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. P.V. Suresh Goud, who is the Branch Manager of the Applicant Bank.

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He has stated in his affidavit that the defendants has availed CC Limit, Term Loan, GECL 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-29 in support of its claim in the OA.

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The Loan Application form for Pradhan Mantri Mudra Yojana duly executed by D-1 & D-2 and submitted before the Applicant Bank enclosing there with Registration Certificate dated 11.03.2020 held in the name of D-1 and declared as D-2 is a Sole Proprietor, Udyog Aadhaar held in the name of D-1, PAN Card bearing No.CDHPA0124M held in the name of D-2, Election Id Card bearing No.RCP1129253 held in the name of D-2, Aadhaar Card bearing No.453288937259 held in the name of D-2, An unregistered Shop Rental Agreement dated 10.12.2019 entered into between D-2 and one another and an unregistered Lease Agreement dated 28.01.2020 entered into between D-2 and one another has been marked as Ex.No.A-01, Sanction Letter for the Sanction of Mudra Loan CC Limit of Rs.5,00,000/issued to D-1 & D-2 and duly acknowledged by them for the receipt of the same has been marked as Ex.No.A-02, DPN for Rs.5,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A03, Undertaking Letter for Rs.5,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-04, Take Delivery Letter to Demand Promissory Note for Rs.5,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-05, Composite Deed of Hypothecation for Rs.5,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-06, Application for credit facilities under UCO Vyapar Samridhi Scheme duly executed by D-1 & D-2 and submitted before the Applicant Bank enclosing there with quotation dated 24.08.2020 issued by Gunaa Kitchen Equipments and quotation dated 31.08.2020 issued by Red Feather Trader in the name of D-1 has been marked as Ex.No.A-07, Sanction Letter for the Sanction of Term Loan of Rs. 12,00,000/- issued to D-1 & D-2 and duly acknowledged by them for the receipt of the same has been marked as Ex.No.A-08, DPN for Rs. 12,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-09, Undertaking Letter

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for Rs. 12,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-10.

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The Agreement Relating to Term Loan for Rs. 12,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-11, Composite Deed of Hypothecation for Rs. 12,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-12, Application for credit facilities under UCO Vyapar Samridhi Scheme duly executed by D-1 & D-2 and submitted before the Applicant Bank enclosing there with Udyam Registration Certificate dated 17.10.2020 issued by Government of India Ministry of MSME held in the name of D-1 has been marked as Ex.No.A-13, Sanction Letter for the Sanction of Rs. 15,00,000 as CC-Limit issued to D-1 & D-2 and duly acknowledged by them for the receipt of the same has been marked as Ex.No.A-14, DPN for Rs. 15,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-15, Letter for Undertaking Rs. 15,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-16, Take Delivery Letter to Demand Promissory Note for Rs. 15,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-17, Composite Deed of Hypothecation for Rs. 15,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-18, Guarantee Agreement duly executed by D-2 for Rs. 15,00,000/- in favour of the Applicant Bank has been marked as Ex.No.A-19, Acknowledgement of Debt/Securities duly executed by D-1 & D-2 in favour of the Applicant Bank in respect of CC-Limit Account of Rs.5,00,000/- has been marked as Ex.No.A-20.

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The Sanction Letter for the Sanction of Additional Working Capital Term Loan of Rs.5,00,000/- issued to D-1 & D-2 has been marked as Ex.No.A-21, DPN for Rs.5,00,000/- duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-22, Undertaking Letter for Rs.5,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-23, Agreement Relating to Term Loan Rs.5,00,000/-for duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-24, Composite Deed of Hypothecation for Rs.5,00,000/-duly executed by D-1 & D-2 in favour of the Applicant Bank has been marked as Ex.No.A-25, Recall Notice sent by the Applicant Bank to D-1&D-2 has been marked as Ex.No.A-26, Undertaking Letter to file English Translation for Tamil version documents whenever required has been marked as Ex.No.A-27, Certificate U/s.2 (A)(a), 2(A)(b), 2(A)(c) and Certificate for Notional Interest of the Bankers Book Evidence Act, 1891 has been marked as Ex.No.A-28, Statement of Accounts has been marked as Ex.No.A29. 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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OA No. 658/2022

¶89

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.

¶90

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).

¶91

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

¶92

The Applicant Bank is entitled to recover from the Defendants, a sum of Rs.34,50,308.53p i.e., (i) Rs. 17,25,250.82p together with interest at the rate of 8.45% p.a. with half yearly rests in respect of CC Limit (ii) Rs. 12,07,048.14p together with interest at the rate of 8.20% p.a. with half yearly rests in respect of Term Loan and (iii) Rs. 5,18,009.57p together with interest at the rate of 7.50% p.a. with half yearly rests in respect of GECL Loan from the date of filing of Application till the date of realization with cost. Accordingly, it is hereby

¶93

ORDERED

¶94

(a) That the Defendants are directed to pay jointly/severally a sum of Rs.34,50,308.53p i.e., (i) Rs. 17,25,250.82p together with interest at the rate of 8.45% p.a. with half yearly rests in respect of CC Limit (ii) Rs. 12,07,048.14p together with interest at the rate of 8.20% p.a. with half yearly rests in respect of Term Loan and (iii) Rs. 5,18,009.57p together with interest at the rate of 7.50% p.a. with half yearly rests in respect of GECL 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.

¶95

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

¶96

(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

¶97

Page 12 of 13

¶98

OA No. 658/2022

¶99

jointly/severally liable to pay the amount of such deficiency with interest mentioned above until realization.

¶100

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

¶101

(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.

¶102

(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 CC Limit, Term loan and GECL 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.

¶103

Dictated to T.P, taken down, transcribed, typed by her, corrected and pronounced by me in the Open Court in this the 12^th November, 2025.

¶104

Sd/- (SEEMA SINHA) PRESIDING OFFICER

¶105

Uploaded on 25.11.2025

¶106

Page 13 of 13

Uco Bank v. Abiz Thoothukudi Sea Food

Case brief

What is this about?

What did the court decide?

Uco Bank v. Abiz Thoothukudi Sea Food

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

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