Allowed

The South Indian Bank Ltd. v. L v Traders

DRT7 Apr 2026OA/114/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of approximately Rs. 1.82 Crores alleging default on working capital loans and security advances. The court found the defendants jointly and severally liable for principal and interest due under various loan agreements.

What did the court decide?

Recovery of Rs.1,81,71,476.41 including principal, interest, and penalties; liberty to sell mortgaged and hypothecated assets for recovery.

The South Indian Bank Ltd. versus L v Traders — Company and Corporate | DRT (2026)

¶1

O.A. No. 114 of 2022

¶2

07.04.2026

¶3

¶4

IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

¶5

Dated this the 07^th day of April, 2026

¶6

Present: SMT. S.V. GOWRAMMA Presiding Officer

¶7

ORIGINAL APPLICATION No. 114 of 2022

¶8

The South Indian Bank Limited, Kancheepuram Branch

¶9

No.68, Kamarajar road Kancheepuram

¶10

Tamilnadu- 631 501

¶11

Represented by its Senior Manager …Applicant

¶12

-Vs-

¶13

M/s Sri. L.V. Traders

¶14

Rep by its Proprietor Mr.M.Lakshmikanthan No.3, Sambantha Moorthy Avenue Adiyaman nagar, Sevilimedu Kancheepuram- 631 501

¶15

Mr. M. Lakshmikanthan Proprietor M/s L.V. Traders D.No, 6/23, Singaravelan Street

¶16

Sevilimedu, Kancheepuram- 631 502

¶17

Mrs. M. Dhanalakshmi D.No.6/23, Singaravelan Street Sevilimedu, Kancheepuram- 631 502

¶18

Mrs. Ramyasri D.No.6/23, Singaravelan Street Sevilimedu, Kancheepuram- 631 502 ...Defendants

¶19

Counsels on record / appeared:

¶20

Counsel for Applicant : Ms. Deepa Harigovind Defendants 1 to 4 were set ex-parte on 01.09.2022.

¶21

O.A. No. 114 of 2022

¶22

¶23

07.04.2026

¶24

: - FINAL ORDER- :

¶25

This Original Application is filed on 06.01.2022 by the applicant bank under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 (formerly Recovery of Debts Due to Banks and Financial Institutions Act, 1993) against the defendants, jointly and severally for recovery of a total sum of Rs.1,81,71,476.41p (Rupees One Crore Eighty One Lakhs Seventy One Thousand Four Hundred and Seventy Six and Forty

¶26

One paisa only) as follows:

¶27

(i) A sum of Rs.1,42,76,349.58p due in respect of Cash Credit limit (A/c 0029083000003118) repayable together with further interest @13.50% p.a. with monthly rests together with penal interest @ 2% p.a. from the date of Application till the date of realization in full;

¶28

(ii) A sum of Rs.28,24,313.60p due in respect of ECLGS (A/c 0029656000000042) repayable together with further interest @ 8.60% p.a. with monthly rests together with penal interest @ 2% p.a. from the date of Application till the date of realization in full;

¶29

(iii) A sum of Rs.10,70,813.23p due in respect of FITL (A/c 0029656000000106) repayable together with further interest @ 8.60% p.a., with monthly rests together with penal interest @ 2% p.a. from the date of Application till the date of realization in full;

¶30

O.A. No. 114 of 2022

¶31

¶32

07.04.2026

¶33

for sale of immovable property morefully detailed in Schedule to the OA and for costs of this application.

¶34

Brief Facts of the case:

¶35

The Applicant submits that the application is filed within the period of limitation as prescribed under Section 24 of the Recovery of Debts and Bankruptcy Act, 1993, and the subject recovery claim falls within the jurisdiction of this Tribunal.

¶36

It is the case of the applicant bank that the 1^st defendant, a proprietary concern of 2^nd defendant is a retail trader in cement, paint and hardwares. The 1^st defendant approached the applicant during September, 2018 and requested for sanction of Cash Credit limit of Rs.1.20 Crore to cater the Working Capital Requirement offering to cause hypothecation of entire current assets (present and future) of said proprietary concern morefully described in Schedule-B to the OA and mortgage by 3^rd defendant over her immovable property morefully described in Schedule-A to the OA besides the personal guarantee of defendants 3 and 4.

¶37

The applicant sanctioned Cash Credit Open Limit (CCOL) of Rs.1.20 Crores under SME Composite loan scheme to the 1^st defendant concern M/s Sri. L.V. Traders by way of takeover of then existing loan of Rs.70 lakhs from Canara bank with an enhancement vide Sanction Letter dated 07.01.2019-office copy of which is duly countersigned by all the defendants in token of their acceptance of its terms and conditions, which include their liability to pay penal interest at 2% per annum as per rules

¶38

O.A. No. 114 of 2022

¶39

07.04.2026

¶40

¶41

for defaults and non-compliance of any of the sanction stipulations, as per the rule of defaults and non-compliance of any of the sanction stipulations. The 1^st defendant thus availed the said facility consequent upon execution of loan and security documents by the defendants on 07.01.2019 in favour of applicant bank as follows:-

¶42

(i) Demand Promissory Note wherein the 1^st defendant agreed to repay the CCOL of Rs.1.20 Crores with interest @12.95% p.a

¶43

(ii) Credit Facility Agreement relating to CCOL of Rs.1.20 Crores wherein the 1^st defendant had caused hypothecation of entire current assets (present and future) inclusive of book debts and stock in trade/goods, morefully described in OA Schedule –B property besides agreeing interalia to repay the dues with interest rate as may be revised by the bank in its discretion on account of upward revision of interest of any other reason; to pay penal interest @2% p.a. or such other rates fixed by the bank in the event of default or the account becoming irregular/NPA; and to pay on the demand of the applicant the balances then outstanding and owing it to under the OD facility inclusive of all interest upto the date of payment together with any service charges, commitment charges, commission, discount, costs, charges, expenses and all other monies debited or which may be so debited to the said account.

¶44

(iii) Agreement of hypothecation wherein the 1^st defendant caused

¶45

O.A. No. 114 of 2022

¶46

07.04.2026

¶47

¶48

hypothecation of book debts and stock in trade/goods including brought in, stored or be in the business address as are morefully described in O.A. Schedule-B property during subsistence of the credit facility.

¶49

(iv) Sole Proprietorship Declaration Form wherein the 2^nd defendant would declare to be carrying on the business under the name and style of M/s. Sri L.V. Traders in his capacity as its sole proprietor and agree to comply with and be bound by the rules of the bank;

¶50

(v) Declaration letter wherein the 1^st defendant has agreed interalia for not resort to trading in real estate among other declarations.

¶51

(vi) Agreement to Mortgage for take over loans wherein the 3^rd defendant has agreed interalia to mortgage her property morefully described in Schedule-A of this O.A to secure the CCOL limit availed by the 1^st defendant; and

¶52

(vii) Agreement of Guarantee wherein the 3^rd and 4^th defendants secured and guaranteed due repayment of the amounts outstanding apart from and in additional to all interest, commission, banking, law and other charges, costs, expenses etc. towards discharge of the CCOL of Rs.1.20 Crores accommodated to 1^st defendant.

¶53

It is submitted by the applicant bank that the 3^rd defendant on

¶54

O.A. No. 114 of 2022

¶55

07.04.2026

¶56

¶57

28.01.2019 deposited her document of title i.e. Original Settlement Deed dated 17.06.2011 (Doc.No.4035 of 2011) SRO, Joint-II Kancheepuram pertaining to her immovable property (which is more fully described as O.A. Schedule “A” property) with the applicant at Kancheepuram and

¶58

created a valid mortgage by deposit of title deeds in favour of the applicant bank as a continuing security for an amount of Rs.1.20 Crores availed by the 1^st defendant concern M/s. Sri L.V. Traders by way of CCOL facility. The 3^rd defendant had executed the following documents in respect of mortgage created by her:-

¶59

(i) Letter dated 28.01.2019 confirming creation of equitable mortgage of the property morefully described in Schedule-A of this O.A.

¶60

(ii) Deed of declaration dated 28.01.2019 wherein the 3^rd defendant has declared that no encumbrance has been created over the property mortgaged among other declarations.

¶61

(iii) Letter confirming Deposit of Title deeds dated 29.01.2019 wherein the 3^rd defendant has confirmed her depositing of original title document on 28.01.2019 with intent to create mortgage by deposit of title deeds in respect of the property mentioned in schedule-A of this O.A.

¶62

(iv) Memorandum of Deposit of title deeds dated 29.01.2019 registered as Document No.359 of 2019 in SRO Joint-II

¶63

O.A. No. 114 of 2022

07.04.2026

Kancheepuram.

It is the further case of the applicant bank that the 1^st defendant had in June 2020 approached the applicant bank requesting for additional credit facility in the wake of Covid-19 pandemic and stagnation in business and got sanctioned as emergency credit line Guarantee scheme (ECLG) Working Capital Term Loan of Rs.25 lakhs vide applicant’s sanction letter dated 08.06.2020 the office copy of which is duly signed by the defendants upon their acceptance of its terms and conditions. The 1^st defendant thus availed the said credit facility consequent upon his execution of loan documents on 08.06.2020 in favour of applicant bank as follows:-

¶68

(i) Credit facility agreement relating to ECLGS Working Capital Term Loan of Rs.25 lakhs wherein the 1^st defendant had caused hypothecation of entire current assets (present and future) as are morefully described in O.A. Schedule-B property besides agreeing interalia to repay the loan in 36 equal monthly instalments of Rs.69,445/- each from 08.06.2021 onwards after the moratorium/ holiday period of 12 months with interest at 9.25% p.a. (repo rate as on 01.04.2020 being 4.40% operating cost being 1.85% and spread being 2.75% with maximum ROI of 9.25%) with monthly rests; to pay the applicable interest rate as may be revised by the bank in its discretion on account of upward revision of interest or any other reason; to pay penal interest @2% p.a. or such other rates fixed by the bank in the event of default or the account

¶69

O.A. No. 114 of 2022

¶70

¶71

07.04.2026

¶72

becoming irregular/NPA; and to pay on the demand of the applicant the balances then outstanding and owing it to under the ECGLS facility inclusive of all interest upto the date of payment together with any service charges, commitment charges, commission, discount, costs, charges, expenses and all other monies debited or which may be so debited to the said account.

¶73

(ii) Sole Proprietorship Declaration Form wherein the 2^nd defendant would declare to be carrying on the business under the name and style of M/s. Sri. L.V. Traders in his capacity as its sole proprietor and agree to comply with and be bound by the rules of the bank and

¶74

(iii) Declaration Letter wherein the 1^st defendant had agreed interalia for not resort to trading in real estate among other declarations.

¶75

Pursuant to sanction of loan under ECLGS scheme for Rs.25 Lakhs by the applicant to the 1^st defendant, the 3^rd and 4^th defendants executed Agreement of Guarantee dated 08.06.2020 guaranteeing due repayment of the amounts outstanding apart from and in addition to all interest, commission, banking, law and other charges, costs, expenses etc, towards discharge of the ECLGS working capital term loan of Rs.25 Lakhs accommodated to the 1^st defendant.

¶76

The 3^rd defendant had on 08.06.2020 called on the applicant at Kancheepuram and made constructive redeposit of her title deeds extending the mortgage already created in respect of property mentioned

¶77

O.A. No. 114 of 2022

¶78

¶79

07.04.2026

¶80

in OA Schedule-A for the additional credit facility to the tune of Rs.25 Lakhs availed to the account of M/s. Sri L.V. Traders and executed the following documents viz:

¶81

(i) Deed of declaration dated 08.06.2020 to the effect that the 3^rd defendant has not created any encumbrance over the property mortgaged among other declarations:

¶82

(ii) Letter dated 09.06.2020 wherein the 3^rd defendant has confirmed her visiting the applicant on 08.06.2020 and according oral consent to continue to hold the tile deeds already delivered to it on 28.01.2019 as continuing security for an additional amount of Rs.25 lakhs availed and to be availed in the account of M/s. L.V. Traders and

¶83

(iii) Supplemental memorandum of deposit of tile deeds dated 03.07.2020 registered as document No.2576 of 2020 in SRO Joint-II Kancheepuram.

¶84

At the request of the 1^st defendant, the Working Capital Limit (CCOL) was rescheduled under “Covid-19 regulatory package” to carve out the interest portion of the same into Funded Interest (FITL) to the extent of Rs. 9.07 Lakhs vide applicant’s Sanction Letter dated 05.09.2020 where under it is stipulated that the existing securities for the FITL since it is not a fresh facility but only a part of the Working Capital Limit already availed by the 1^st defendant. The office copy of the said Sanction Letter is duly signed by all the defendants in token of their acceptance of its terms and conditions which include their liability to pay

¶85

O.A. No. 114 of 2022

¶86

¶87

07.04.2026

¶88

the principal amount in 7 monthly instalments of Rs.1,29,571.42p commencing from 30.09.2020 onwards and servicing of interest as and when debited in the account at the rates and rests as may be applicable to the parent CCOL working capital loan account; additional interest over and above the stipulated rate of interest for overdue days between 31-60 days (SMA-1) category at existing rate +0.50% and for 61-90 days (SMA-2) category at existing rate +1.00%; and penal interest at 2% as per rules for any default and/or non-compliances of any of the sanction stipulations against the existing securities.

¶89

The applicant bank submitted that pursuant to the said sanction, the defendants vide their undertaking letter dated 05.09.2020 agreed for not reckoning FITL as a fresh credit facility, undertook to pay the loan amount as stated afore, agreed for continuance of the guarantees and securities and for abiding by all the terms and conditions set out in the existing working capital facilities. The 1^st and 3^rd defendant vide their application for continuance of securities acknowledged the reschedulement done as stated above and confirmed the continuation of mortgage over O.A schedule-A immovable property and hypothecation of O.A. Schedule-B movable assets as continuing security for the FITL accommodated to 1^st defendant concern M/s. L.V. Traders afore.

¶90

The applicant bank further submitted that the defendants, much contrary to the sanction terms and covenants agreed upon, had not repaid the dues and hence the loan account was classified as Non-Performing Asset (NPA) on 24.03.2021 as per guidelines of Reserve Bank of India.

¶91

O.A. No. 114 of 2022

¶92

07.04.2026

¶93

¶94

The applicant had on 03.04.2021 sent registered notices to defendants intimating them above the classification of accounts as NPA and advising them to regularize the account immediately. All the letters were duly served on the respective defendants vide acknowledgment cards annexed with OA. The said letter was followed by Guarantee Invocation Letter dated 12.04.2021, which was as well duly served on the defendants 3 & 4. Pursuant to classification of loan account as NPA, the applicant bank issued Demand Notice dated 01.06.2021 under SARFAESI Act to the defendants and proceeded with its assuming of symbolic possession of the secured assets vide Possession Notice dated 11.08.2021. As the aforesaid loan recall notices and statutory notices evoked no satisfactory response, the present Original Application (OA) has been filed by the applicant bank for recovery of its dues from the defendants.

¶95

It is further submitted that the interest has been charged at such rates and capitalized at such periodical rests as are permitted by and do not run counter to the directives of the Reserve Bank of India. The impact of capitalisation of penal interest in the loan accounts has been reversed and the same is reflected in the statement of accounts. The applicant bank is entitled to claim interest at contractual rate and also charge 2% penal interest over and above the contractual rate of interest as specifically agreed by the defendants in their loaning documents.

¶96

After the filing of the OA, summons was sent to the defendants 1 to

¶97

4 through Registered Post with Acknowledgment Due, which returned

¶98

O.A. No. 114 of 2022

¶99

¶100

07.04.2026

¶101

unserved in respect of D1 to D3. Summons to D4 is duly served in one address. Defendants 2 and 3 were represented by counsel, who undertook to file vakalath. Applicant bank had caused paper publication of the notice and filed proof thereof. Despite availing four adjournments, defendants did not choose to file written statement. When OA was taken up on even after giving sufficient time, there was no appearance or representation from the defendants. Hence, Defendants 1 to 4 were placed ex-parte on 01.09.2022.

¶102

Heard the submissions of Applicant Bank and perused the

¶103

record s.

¶104

To prove the case of the Applicant Bank, Sh. Manoj Kevin, Senior Manager of the Applicant Bank, has filed his Affidavit by way of evidence and same was considered as evidence of AW-1 and list of documents came to be marked as Ex A-1 to A-40 .

¶105

A careful examination of the pleadings in the Proof Affidavit and documents Exhibits A-1 to A-40 evidence that the borrowal of credit facilities and execution of loan and security documents are true, in terms of averments made in Original Application as well as Proof Affidavit filed by applicant bank establishing its claim. Applicant bank filed Statement of Accounts duly certified under Bankers’ Book Evidence Act, evidencing the amount claimed against defendants.

¶106

The defendants were set ex-parte on 01.09.2022, but till this day they did not take any action to set aside the ex-parte order and did not choose to contest the claim. Further, a careful scrutiny of records makes it

¶107

O.A. No. 114 of 2022

¶108

¶109

07.04.2026

¶110

clear that present application is filed well within limitation and this Tribunal possesses necessary and proper jurisdiction to entertain and adjudicate the claim. No oral or documentary evidence on the side of defendants are produced or filed to dispute the claim of applicant bank. Hence, it can be concluded that applicant bank has proved its claim against defendants.

¶111

With regard to the amount advanced, the interest applied the conduct and operations in the account and the default committed, this Tribunal comes to the conclusion that the applicant bank is entitled for a final order on the following terms:

¶112

: O R D E R :

¶113

18. The OA is allowed with costs,

¶114

(a) The applicant bank is allowed to recover from the Defendants jointly and severally, sum of Rs.1,81,71,476.41p (Rupees One Crore Eighty One Lakhs Seventy One Thousand Four Hundred and Seventy Six and Forty One paisa only) as follows:

¶115

¶116

(ii) A sum of Rs.28,24,313.60p due in respect of ECLGS (A/c 0029656000000042) repayable together with further

¶117

O.A. No. 114 of 2022

¶118

07.04.2026

¶119

¶120

interest @ 8.60% p.a. with monthly rests together with penal interest @ 2% p.a. from the date of Application till the date of realization in full;

¶121

(iii) A sum of Rs.10,70,813.23p due in respect of FITL

¶122

(A/c 0029656000000106) repayable together with further interest @ 8.60% p.a., with monthly rests together with penal interest @ 2% p.a. from the date of Application till the date of realization in full along with costs of this application.

¶123

(b) In the event of failure of the Defendants to pay the aforesaid amount, the bank is at liberty to recover the amount by sale of the Schedule A mentioned immovable property and Schedule B mentioned hypotheca morefully detailed in the OA schedule.

¶124

¶125

(d) If the sale proceeds of the immovable property and hypothecated assets are not sufficient to satisfy the dues as ordered above, the applicant bank is at liberty to sell the personal assets of the Defendants 2 to 4 (both movable and immovable) to recover the balance dues as required under law for which the Defendants 2 to 4 to disclose to the Tribunal particulars of other properties or assets owned by the Defendants 2 to 4.

¶126

(e) The applicant bank shall file the latest memo of calculation of OA amount together with interest, costs etc., to be paid by the Defendants duly considering the amounts, if any, paid by the

¶127

O.A. No. 114 of 2022

¶128

07.04.2026

¶129

¶130

Defendant and/or amount realized by sale of assets etc., during the intervening period after the filing of the OA, enabling the Registry to prepare Recovery Certificate for the amount to be paid by Defendants to the applicant bank.

¶131

(f) The applicant bank shall file memo of costs within ten days from the date of receipt of this final order.

¶132

(g) Recovery Certificate shall be drawn up and issued to the Recovery Officer in terms of the final order.

¶133

A copy of this order be communicated to the parties concerned.

¶134

Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI

¶135

(Dictated to Roshnee, transcribed by her, corrected, signed and pronounced by me on this the 07^th day of April, 2026)

¶136

ANNEXURES

¶137

WITNESSES EXAMINED FOR THE APPLICANT BANK :

¶138

AW-1: Sh. Manoj Kevin, Senior Manager of the Applicant Bank

¶139

Exhibits on the part of the Applicant:

¶140

Sl. No.	Date	Description of Documents	Exhibit No.
1.	07.01.2019	Sanction communication relating to CCOL of Rs.1.20 Crores issued by the applicant and countersigned by the defendants 1 to 3.	A-1
2.	07.01.2019	Demand promissory note for CCOL of Rs.1.20 Crores issued by the applicant and	A-2

¶141

O.A. No. 114 of 2022

¶142

07.04.2026

¶143

¶144

		countersigned by the defendants 1 to 3.
3.	07.01.2019	Credit facility Agreement relating to CCOL of Rs.1.20 Crores executed by and between 1^stdefendant and applicant.	A-3
4.	07.01.2019	Agreement of hypothecation of current assets executed by 1^stdefendant.	A-4
5.	07.01.2019	Sole proprietorship declaration form executed by 1^stdefendant.	A-5
6.	07.01.2019	Undertaking letter executed by 1^st defendant.	A-6
7.	07.01.2019	Agreement to mortgage for takeover loans executed by 2^nddefendant	A-7
8.	07.01.2019	Agreement of guarantee relating to CCOL of Rs.1.20Crores executed by the defendants 2 &3	A-8
9.	28.01.2019	Letter confirming creation of EM executed by the 2^nddefendant	A-9
10.	28.01.2019	Deed of declaration by 2^nddefendant to the effect that her immovable property is free from charge or encumbrance.	A-10
11.	29.01.2019	Letter confirming deposit of title deeds created on 28.01.2019 executed by 2^nd defendant.	A-11
12.	29.01.2019	Memorandum of deposit of tile deeds registered as Doc.No.359 of 2019 executed by 2^nddefendant	A-12
13.	17.06.2011	Copy of original settlement deed standing in favour of 2^nddefendant deposited with the applicant (Doc. No. 4035 of 2011)	A-13
14.	08.06.2020	Sanction communication relating to ECGLS working capital limit of Rs.25 lakhs issued by applicant and counter signed by defendants.	A-14
15.	08.06.2020	Credit facility agreement in respect of ECGLS working capital limit of Rs.25,00,000/- executed by and between the 1^stdefendant and applicant.	A-15
16.	08.06.2020	Sole proprietorship declaration form executed by 1^stdefendant.	A-16
17.	08.06.2020	Undertaking letter executed by 1^st defendant	A-17
18.	08.06.2020	Agreement of guarantee relating to ECGLS working capital limit of Rs.25,00,000/- executed by 2 &3	A-18
19.	08.06.2020	Deed of declaration by 2^nddefendant to the effect that her immovable property is free from any charge or mortgage	A-19

¶145

O.A. No. 114 of 2022

¶146

07.04.2026

¶147

¶148

20	09.06.2020	Letter confirming constructive delivery of title deeds executed by 2^nddefendant.	A-20
21.	03.07.2020	Supplemental memorandum of deposit of title deeds executed by 2^nddefendant registered as Doc. No. 2576 of 2020	A-21
22.	05.06.2020	Sanction communication relating to FITL of Rs.9,07,000/- issued by applicant and counter signed by defendants.	A-22
23.	05.06.2020	Undertaking executed by defendants	A-23
24.	05.06.2020	Application for continuance of securities executed by defendants 1&2	A-24
25.	03.04.2021	Office copy of applicant’s registered notice to 1^stdefendant concern along with postal registration receipt.	A-25
26.	03.04.2021	Office copy of applicant’s registered notice to 2^nd defendant along with postal registration receipt.	A-26
27.	03.04.2021	Office copy of applicant’s registered notice to 3^rd defendant along with postal registration receipt.	A-27
28.	08.04.2021	Postal acknowledgment of 2^nddefendant.	A-28
29.	08.04.2021	Postal acknowledgment of 3^rddefendant.	A-29
30.		Postal acknowledgment of 1^stdefendant.	A-30
31.	12.04.2021	Office copy of applicant’s registered loan recall notice to 1^stdefendant concern along with postal registration receipt.	A-31
32.	12.04.2021	Office copy of applicant’s registered loan recall notice to 2^nddefendant concern along with postal registration receipt.	A-32
33.	12.04.2021	Office copy of applicant’s registered loan recall notice to 3^rddefendant concern along with postal registration receipt.	A-33
34.		Postal acknowledgment of 1^stdefendant.	A-34
35.		Postal acknowledgment of 2^nddefendant.	A-35
36.	01.06.2021	Demand notice under section 13(2) of SARFAESI Act issued TO defendants.	A-36
37.	11.08.2021	Possession notice issued by authorised officer of applicant bank	A-37
38.	04.01.2022	Statement of account in respect of 1^st defendant CCOL account no 0029083000003118 maintained by applicant for the period 18.01.2019 to 04.01.2022 accompanied by BBEA certificates.	A-38
39.	04.01.2022	Statement of account in respect of 1^st defendant ECLGS working capital account no 0029656000000042 maintained by	A-39

¶149

O.A. No. 114 of 2022

¶150

¶151

07.04.2026

¶152

	applicant for 04.01.2022 certificates.	the period accompanie	07.06.20 d by	20 to BBEA
40.	04.01.2022 Statement of defendant	account in FITL	respect account	of 1^st no	A-40
	00296560000	000106 m	aintained	by
	applicant for 04.01.2022 certificates.	the period accompanie	31.08.20 d by	20 to BBEA

¶153

Witness Examined for the Defendants: -Nil-

¶154

List of Documents Exhibited for the Defendants: -Nil –

¶155

:- SCHEDULE OF PROPERTIES -:

¶156

SCHEDULE “A” IMMOVABLE PROPERTY

¶157

(Property of M. Dhanalakshmi (2^nd defendant) morefully described under settlement deed dated 17.06.2011 Doc. NO 4035/2011, SRO Joint-II Kancheepuram)

¶158

All that piece and parcel of the land admeasuring 9156 Sq.ft i.e., Hect.0.08.5 corresponding acre 0.21 cents comprised in Old survey No.155/1A, New survey No.155/1A54 in No.54, Sevilimedu village, Kancheepuram Taluk, Kancheepuram district with all the other appurtenant rights and improvement thereon situated within the joint-II Sub Registrar office of Kancheepuram and district registrar of Kancheepuram is bounded on the

¶159

North by: JJ Nagar layout

¶160

South by: Muthu’s plot

¶161

East by: Vacant plot

¶162

West by: K. Munusamy’s plot.

¶163

O.A. No. 114 of 2022

¶164

¶165

07.04.2026

¶166

SCHEDULE “B”- HYPOTHECA

¶167

Hypothecation of entire assets (both present and future) and goods of M/s. Sri.LV Traders which now or hereunder from time to time during the e=security shall be brought in, kept or stored or be in or about their premises or godown at No.3, Sambanthamoorthy avenue, Adiyaman nagar, Sevilimedu, Kancheepuram-631 501 or anywhere else.

¶168

Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI

The South Indian Bank Ltd. v. L v Traders

Case brief

What is this about?

What did the court decide?

The South Indian Bank Ltd. v. L v Traders

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Mr R Lokeshwaran S O Mr Ramulu versus Equitas Small Finance Bank Limited

Charles Rajakumar versus State Bank of India

D v K Rathinamma versus Indian Overseas Bank

Punjab and Sind Bank versus Rupesh Parsmal

Bank of India versus Dilli Ganesh

D Nalini versus D