Allowed

Indian Bank v. Viji Engineering

DRT8 May 2026OA/539/2024

Case brief

AI extract

What is this about?

In a recovery application, the Debts Recovery Tribunal allowed the Applicant Bank's claim against multiple respondents for outstanding loans. The Tribunal, hearing the applicant alone as respondents were ex-parte, found documents proved the debt and ordered recovery with interest.

What did the court decide?

Respondents directed to pay total sum of 1.34 crore plus interest at stipulated rates; liberty granted to sell mortgaged/hypothecated properties if payment defaults.

Indian Bank versus Viji Engineering — Contract and Commercial Disputes | DRT (2026)

¶1

OA No. 539/2024

¶2

Fair Order

¶3

IN THE DEBTS RECOVERY TRIBUNAL AT MADURAI DATED THIS 08^TH DAY OF MAY, 2026 PRESENT: SEEMA SINHA,

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

¶5

OA No.539/2024

¶6

Between

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Indian Bank, Stressed Assets Management Branch, (SAM Branch), No.100-101, East Avani Moola Street, Madurai— 625 001. Rep. By its Chief Manager. ---Applicant Bank

¶8

And

¶9

M/s. Viji Engineering,

¶10

Prop. Mr. Vijayakumar, No.125/12, 13, 14, HAPP Main Road,

¶11

Happ Post,

¶12

Trichy — 620 025.

¶13

M/s. Shree Kalesswari Engineering Works, Partners V. Meena and S. Vijayakumar, No.7/3, A, B, C HAPP Main Road, HAPP post, Trichy — 620 025.

¶14

Mr. S. Vijayakumar,

¶15

S/o Shanmugam, Door No.1/191, Bharath Nagar, Poolangudi Colony, HAPP Post,

¶16

Trichy — 620 025.

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Page 1 of 26

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OA No. 539/2024

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Mrs. V. Meena, W/o Vijayakumar, Door No.1/191, Bharath Nagar, Poolangudi Colony, HAPP Post, Trichy — 620 025. ---Defendants

¶20

Counsel for the Applicant Bank : M/s S. Balasubramanian, T.M.Subramanian, M. Sundaraj, B. Iswarya

¶21

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

¶23

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 16.11.2024 to recover from the Defendants a total sum of Rs.13,45,34,525.93p i.e.,

¶24

(i) Rs.7,83,58,727.93p together with interest at the rate of 16% p.a. with monthly rests plus penal interest at the rate of 2%p.a. in respect of CC Loan (ii) Rs.25,71,423.43p together with interest at the rate of 9.25% p.a. with monthly rests plus penal interest at the rate of 2%p.a. in respect of GECLS Term Loan – I

¶25

(iii) Rs.1,48,67,839.10p together with interest at the rate of 9.25% p.a. with monthly rests plus penal interest at the rate of 2%p.a. in respect of GECLS Term Loan-II

¶26

(iv) Rs.1,69,97,741.25p together with interest at the rate of 16% p.a. with monthly rests plus penal interest at the rate of 2%p.a. in respect of CC Loan (v) Rs.12,42,196.71p together with interest at the rate of 9.75% p.a. with monthly rests plus penal interest at the rate of 2%p.a. in respect of Home Loan-I

¶27

(vi) Rs.2,04,96,597.51p together with interest at the rate of 9.70% p.a. with monthly rests plus penal interest at the rate of 2%p.a. in respect of Home Loan-II 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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Page 2 of 26

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OA No. 539/2024

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

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The 1^st defendant is M/s. Viji Engineering a Proprietorship firm represented by the 3^rd defendant. The 3^rd and 4^th defendants are mortgagor. M/s Viji Engineering availed facilities such as Cash Credit, GECLS Term Loan-1 and GECLS Term Loan-2. For which the 4^th defendant is a guarantor only for cash credit facility loan and also executed the guarantee agreement for the same. The defendants have availed following financial facilities with the Applicant bank on various heads. The 1^st defendant has availed CC / Secured Loan for Rs.5,00,00,000/- on 07.08.2014 and the same account has been enhanced the CC loan for Rs.8,00,00,000/- on 27.06.2017 and the same account has been enhanced the CC loan for Rs.12,00,00,000/- on 16.03.2022 and GECLS Term Loan-I for Rs.47,46,000/on 03.08.2020 & GECLS Term Loan-II for Rs.1,28,00,000/- on 21.12.2021.

¶32

In addition to above facility a bank guarantee also sanctioned for limit of Rs.20,00,000/- the Bank Guarantee was not invoked. The defendants had agreed to pay interest at the prevailing rate of interest or at such other rates as may be revised by the bank from time to time. Further, the defendants had agreed to hypothecate stock and book debts with the applicant bank fully described in Schedule “A” hereunder. In addition to that, the 3^rd and 4^th defendant has also deposited the original title deeds of immovable properties with the applicant Bank as security for the due repayment of loan availed by them. In this juncture, the 3^rd and 4^th defendants have deposited the original title deeds of immovable properties Item No.7 to 18 shown in O.A of the Schedule of property for cash credit facility loan in favour of the applicant Bank as security for the due repayment of loan availed by them.

¶33

The following is the detail of loan availed by the defendants.

¶34

S. No.	Nature of Loan	Loan Amount	Rate of Interest at the Time of Sanction	Present Rate of Interest	Outstanding Amount as on 31.10.2024
1	Cash Credit	^Rs. 12,00,00,000/-	8.60% p.a + 2% P.I	16% p.a + 2% P.I	Rs. 7,83,58,727.93p
2	GECLS Term Loan – I	Rs. 47,46,000/-	^{7.50% p.a + 2%} P.I	9.25% p.a + 2% P.I	Rs. 25,71,423.43p
3	GECLS Term Loan – II	Rs. 1,28,00,000/-	7.50% p.a + 2% P.I Total	9.25% p.a + 2% P.I	Rs. 1,48,67,839.10p Rs. 9,57,97,990.46p

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Page 3 of 26

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OA No. 539/2024

¶37

The 2^nd defendant is M/s Shree Kalesswari Engineering Works a partnership firm represented by the 3^rd and 4^th defendant. The 3^rd and 4^th defendants are mortgagor and guarantors also executed the guarantee agreement on various dates. The defendants have availed following financial facilities with the Applicant bank on various heads. The 1^st defendant has availed OD / Secured Loan for Rs.2,00,00,000/- on 26.09.2017. In addition to above facility a bank guarantee also sanctioned for limit of Rs.50,00,000/- to the 2^nd defendant out of the facility bank guarantee amount, a sum of Rs.50,00,000/- was not invoked. The defendants had agreed to pay interest at the prevailing rate of interest or at such other rates as may be revised by the bank from time to time. Further, the defendants had agreed to hypothecate stock and book debts with the applicant bank fully described in Schedule “A” hereunder. In addition to that, the 3^rd and 4^th defendant has also deposited the original title deeds of immovable properties Item No.7 to 18 shown in O.A of the Schedule of property for cash credit facility loan with the applicant Bank as security for the due repayment of loan availed by them.

¶38

The following is the detail of loan availed by the defendants.

¶39

S. No.	Nature of Loan	Loan Amount	Rate of Interest at the Time of Sanction	Present Rate of Interest	Outstanding Amount as on 31.10.2024
1	Cash Credit	Rs. 2,00,00,000/-	10.35% p.a + 2% P.I	16% p.a + 2% P.I	Rs. 1,69,67,741.25/-

¶40

The 3^rd and 4^th defendants have availed following financial facilities with the Applicant bank on various heads. The 3^rd and 4^th defendants have availed Home Loan -I / Secured Loan for Rs.29,60,000/- on 11.12.2015 and availed Home Loan - Il / Secured Loan for Rs.2,00,00,000/- on 27.09.2017. The defendants have executed necessary loan documents in favour of the applicant for all loan facilities. In addition to that, the 3^rd defendant has deposited the original title deeds of immovable properties Item No.1 to 6 for Home Loan –II facility and the 3^rd and 4^th defendants have jointly deposited the original title deeds of immovable properties Item No.7 to 18 for Home Loan-I facility as shown in O.A of the Schedule of property with the applicant Bank as security for the due repayment of loan availed by them.

¶41

The following is the details of loan availed by the defendants.

¶42

S. No.	Nature of Loan	Loan Amount	Rate of Interest at the Time of Sanction	Present Rate of Interest	Outstanding Amount as on 31.10.2024

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Page 4 of 26

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OA No. 539/2024

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S. No.	Nature of Loan	Loan Amount	Rate of Interest at the Time of Sanction	Present Rate of Interest	Outstanding Amount as on 31.10.2024
1	Home Loan	Rs. 29,60,000/-	9.65% p.a + 2% P.I	9.75% p.a + 2% P.I	Rs. 12,42,196.71/-
2	Home Loan	Rs. 2,00,00,000/-	8.95% p.a + 2% P.I	9.70% p.a + 2% P.I	Rs. 2,04,96,597.51/-
	Total				Rs. 2,17,38,784.22/-

¶46

The defendant No 4 has executed Memorandum of Deposit of Title Deeds on 21.08.2014 in Document No0.4434/2014 before SRO Thiruverumbur and Defendant No.3 has executed Supplemental Memorandum of deposit of title deeds on 03.02.2016 in Document N0.636/2016 before SRO Thiruverumbur and Defendant No. 4 has executed Supplemental Memorandum of deposit of title deeds on 03.02.2016 in Document N0.637/2016 before SRO Thiruverumbur and Defendant No.3 and 4 has executed Supplemental Memorandum of deposit of title deeds on 04.04.2017 in Document No.1063/2017 before SRO Thiruverumbur and Defendant No. 3 and 4 has executed Supplemental Memorandum of deposit of title deeds on 05.07.2017 in Document No.2335/2017 before SRO Thiruverumbur and Defendant No. 3 has executed Supplemental Memorandum of deposit of title deeds on 27.09.2017 in Document No.3885/2017 before SRO Thiruverumbur.

¶47

All defendants have also executed balance and security confirmation letter on 31.07.2017, 05.08.2017, 14.12.2018, 30.07.2020, 10.12.2021, 07.03.2023 and 14.06.2023 in favour of the applicant bank thereby the defendants have acknowledged their liability of loan. The 1^st defendant represented by 3^rd defendant and 2^nd defendant represented by the 3^rd and 4^th defendant, though had availed the entire sanctioned limits under the said facilities, the defendants have failed to repay the loan as per the sanction ticket, as agreed, despite the repeated demands and reminders made by the Applicant Bank. The Defendants have not paid the due amount. The borrower's loan account turned in to NPA as follows:

¶48

SL.	Nature of Loan	NPA Date
1	Cash Credit	01.04.2023
2	Term Loan – I	01.04.2023
3	Term Loan – II	01.04.2023
4	Cash Credit	04.08.2024

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Page 5 of 26

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OA No. 539/2024

¶51

SL.	No.	Nature of Loan	NPA Date
5		Housing Loan – I	01.04.2023
6		Housing Loan – II	01.04.2023

¶52

The defendants concerned had promised to repay the entire sanctioned limits, but the defendants failed to perform their promise and failed to repay the amounts as agreed by them. Hence, the applicant bank issued demand Notice U/s. 13(2) of the SARFAESI Act on 20.05.2023 against the defendants and the same was received by the defendants but the defendants failed and have not come to discharge the loan. Despite repeated demands and reminders, made by the Applicant Bank, the Defendants have failed and neglected to repay and adjust their liability.

¶53

Hence, the Applicant Bank has filed the OA for recovery of a total sum of Rs.13,45,34,525.93p i.e.,

¶54

¶55

(iii) Rs.1,48,67,839.10p together with interest at the rate of 9.25% p.a. with monthly rests plus penal interest at the rate of 2%p.a. in respect of GECLS Term Loan-II

¶56

¶57

¶58

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

¶59

S. No.	Date	Description of document	Exhibits
1	07.08.2014	Sanction Ticket Rs. 5,00,00,000/	Ex.No.A-01
2	11.08.2014	Demand Promissory Note Rs. 5,00,00,000/	Ex.No.A-02
3	11.08.2014	Agreement of Hypothecation Movables Rs.	Ex.No.A-03

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Page 6 of 26

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OA No. 539/2024

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		5,00,00,000/
4	11.08.2014	Agreement for Open Cash Credit Rs. 5,00,00,000/	Ex.No.A-04
5	11.08.2014	Guarantee Agreement Rs. 5,00,00,000/	Ex.No.A-05
6	11.08.2014	Guarantee Agreement Rs. 5,00,00,000/	Ex.No.A-06
7	27.06.2017	Sanction Ticket Rs. 8,00,00,000/	Ex.No.A-07
8	29.06.2017	Demand Promissory Note Rs. 8,00,00,000/	Ex.No.A-08
9	29.06.2017	Agreement of Hypothecation Movables Rs. 8,00,00,000/	Ex.No.A-09
10	29.06.2017	Agreement for Open Cash Credit Rs. 8,00,00,000/	Ex.No.A-10
11	29.06.2017	Counter Guarantee Rs. 50,00,000/	Ex.No.A-11
12	29.06.2017	Guarantee Agreement Rs. 8,00,00,000/	Ex.No.A-12
13	16.03.2022	Sanction Ticket Rs. 12,00,00,000/	Ex.No.A-13
14	17.03.2022	Demand Promissory Note Rs. 12,00,00,000/	Ex.No.A-14
15	17.03.2022	Agreement of Hypothecation Movables Rs. 12,00,00,000/	Ex.No.A-15
16	17.03.2022	Agreement for Open Cash Credit Rs. 12,00,00,000/	Ex.No.A-16
17	17.03.2022	Guarantee Agreement Rs. 12,00,00,000/	Ex.No.A-17
18	03.08.2020	Sanction Ticket Rs. 47,46,000/	Ex.No.A-18
19	05.08.2020	Demand PromissoryNote Rs. 47,46,000/	Ex.No.A-19
20	05.08.2020	Medium Term Loan Agreement Rs. 47,46,000/	Ex.No.A-20
21	05.08.2020	Agreement of Hypothecation Movables Rs. 47,46,000/	Ex.No.A-21
22	21.12.2021	Sanction Ticket Rs. 1,28,00,000/	Ex.No.A-22
23	23.12.2021	Demand Promissory Note Rs. 1,28,00,000/	Ex.No.A-23
24	23.12.2021	Term Loan Agreement Rs. 1,28,00,000/	Ex.No.A-24
25	23.12.2021	Agreement of Hypothecation Movables Rs. 1,28,00,000/	Ex.No.A-25
26	30.03.2023	Sanction Ticket	Ex.No.A-26
27	26.09.2017	Sanction Ticket Rs. 2,00,00,000/	Ex.No.A-27
28	28.09.2017	Demand Promissory Note Rs. 2,00,00,000/	Ex.No.A-28
29	28.09.2017	Agreement of Hypothecation Movables Rs. 2,00,00,000/	Ex.No.A-29
30	28.09.2017	Agreement for Open Cash Credit Rs. 2,00,00,000/	Ex.No.A-30
31	28.09.2017	Agreement of Guarantee	Ex.No.A-31

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Page 7 of 26

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OA No. 539/2024

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32	28.09.2017	Counter Guarantee Rs.50,00,000/-	Ex.No.A-32
33	11.12.2015	Sanction Ticket Home Loan Rs. 29,60,000/	Ex.No.A-33
34	14.12.2015	Demand PromissoryNote Rs. 29,60,000/	Ex.No.A-34
35	14.12.2015	Term Loan Agreement for HousingFinance	Ex.No.A-35
36	27.09.2017	Sanction Ticket Home Loan Rs.2,00,00,000/	Ex.No.A-36
37	27.09.2017	Demand Promissory Note Home Loan Rs.2,00,00,000/	Ex.No.A-37
38	27.09.2017	Term Loan Agreement for Home Loan	Ex.No.A-38
39	21.08.2014	Supplemental MOD Document No.4434/2014	Ex.No.A-39
40	03.02.2016	MOD Document No. 636/2016	Ex.No.A-40
41	03.02.2016	Supplemental MOD Document No.637/2016	Ex.No.A-41
42	04.04.2017	Supplemental MOD Document No.1063/2017	Ex.No.A-42
43	05.07.2017	Supplemental MOD Document No.2335/2017	Ex.No.A-43
44	29.07.2017	MOD Document No. 3885/2017	Ex.No.A-44
45	14.12.2015	Sale Deed Document No. 6392/2015	Ex.No.A-45
46	13.02.2017	Sale Deed Document No. 1052/2017	Ex.No.A-46
47	06.03.1990	Rectification Deed Document No. 470/1990	Ex.No.A-47
48	18.11.2009	Sale Deed Document No. 6940/2009	Ex.No.A-48
49	26.02.1990	Sale Deed Document No. 402/1990	Ex.No.A-49
50	24.09.2009	Sale Deed Document No. 5498/2009	Ex.No.A-50
51	01.07.2004	Sale Deed Document No. 2441/2004	Ex.No.A-51
52	27.07.1988	Sale Deed Document No. 2020/1988	Ex.No.A-52
53	28.02.1990	Sale Deed Document No. 407/1990	Ex.No.A-53
54	12.01.1987	Sale Deed Document No. 68/1987	Ex.No.A-54
55	15.12.2004	Sale Deed Document No. 4685/2004	Ex.No.A-55
56	11.05.1983	Sale Deed Document No. 1112/1983	Ex.No.A-56
57	18.03.2002	Sale Deed Document No. 1161/2002	Ex.No.A-57
58	15.12.2004	Sale Deed Document No. 4675/2004	Ex.No.A-58
59	28.12.2007	General Power Deed Document No.1677/2007	Ex.No.A-59
60	03.03.2008	Sale Deed Document No. 2128/2008	Ex.No.A-60
61	13.08.2008	Sale Deed Document No. 8215/2008	Ex.No.A-61
62	09.07.2008	Sale Deed Document No. 6929/2008	Ex.No.A-62
63	26.12.2008	Sale Deed Document No. 12482/2008	Ex.No.A-63
64	21.08.2014	Lease Deed Document No. 4433/2014	Ex.No.A-64
65	27.12.1965	Sale Deed Document No. 62/1965	Ex.No.A-65

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Page 8 of 26

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OA No. 539/2024

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66	21.08.1965	Sale Deed Document No. 4264/1965	Ex.No.A-66
67	05.04.2007	Gift Deed Document No. 2553/2007	Ex.No.A-67
68	08.06.2012	Sale Deed Document No. 4657/2012	Ex.No.A-68
69	08.06.2012	Sale Deed Document No. 4658/2012	Ex.No.A-69
70	20.09.2012	Partition Release Deed Document No.6723/2012	Ex.No.A-70
71	03.10.2012	Sale Deed Document No. 7093/2012	Ex.No.A-71
72	13.06.2011	Sale Deed Document No. 5148/2011	Ex.No.A-72
73	23.04.1984	Sale Deed Document No. 936/1984	Ex.No.A-73
74	19.11.2010	General Power Deed Document No.1399/2010	Ex.No.A-74
75	07.02.2011	Sale Deed Document No. 962/2011	Ex.No.A-75
76	04.07.2014	Sale Deed Document No. 3554/2014	Ex.No.A-76
77	23.04.1984	Sale Deed Document No. 935/1984	Ex.No.A-77
78	19.11.2010	General Power Deed Document No.1398/2010	Ex.No.A-78
79	24.11.2010	Sale Deed Document No. 9994/2010	Ex.No.A-79
80	24.01.2013	Settlement Deed Document No. 432/2013	Ex.No.A-80
81	08.07.2014	Sale Deed Document No. 3621/2014	Ex.No.A-81
82	06.06.2008	General Power Deed Document No.1176/2008	Ex.No.A-82
83	09.07.2008	Sale Deed Document No. 6930/2008	Ex.No.A-83
84	18.09.1976	Sale Deed Document No. 1436/1976	Ex.No.A-84
85	13.07.2005	Gift Settlement Deed Document No.619/2005	Ex.No.A-85
86	22.08.2008	General Power Deed Document No.202/2008	Ex.No.A-86
87	20.04.2011	Sale Deed Document No. 3247/2011	Ex.No.A-87
88	05.08.1982	Sale Deed Document No. 1362/1982	Ex.No.A-88
89	08.10.2004	Sale Deed Document No. 3793/2004	Ex.No.A-89
90	15.07.2011	Sale Deed Document No. 6542/2011	Ex.No.A-90
91	16.04.2012	Sale Deed Document No. 3674/2012	Ex.No.A-91
92	14.12.1987	Sale Deed Document No. 2957/1987	Ex.No.A-92
93	17.10.1996	General Power Deed Document No.255/1996	Ex.No.A-93
94	10.12.1996	Sale Deed Document No. 3058/1996	Ex.No.A-94
95	07.12.2011	Sale Deed Document No. 11671/2011	Ex.No.A-95
96	26.12.1985	Sale Deed Document No. 5357/1985	Ex.No.A-96
97	27.01.1983	Sale Deed Document No. 132/1983	Ex.No.A-97
98	28.02.1994	Sale Deed Document No. 267/1994	Ex.No.A-98
99	06.04.2011	Sale Deed Document No. 2900/2011	Ex.No.A-99
100	01.09.2008	Sale Deed Document No. 9631/2008	Ex.No.A-100
101	06.03.2008	Sale Deed Document No. 2244/2008	Ex.No.A-101

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OA No. 539/2024

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102	10.03.2008	Sale Deed Document No. 4235/2008	Ex.No.A-102
103	18.06.2008	Sale Deed Document No. 7428/2008	Ex.No.A-103
104	26.11.2009	General Power Deed Document No. 1139/2009	Ex.No.A-104
105	24.03.2010	General Power Deed Document No.319/2010	Ex.No.A-105
106	03.11.2010	Sale Deed Document No. 9480/2010	Ex.No.A-106
107	18.02.2008	General Power Deed Document No.310/2008	Ex.No.A-107
108	31.07.2017	Balance and SecurityConfirmation	Ex.No.A-108
109	05.08.2017	Balance and SecurityConfirmation	Ex.No.A-109
110	14.12.2018	Balance and SecurityConfirmation	Ex.No.A-110
111	30.07.2020	Balance and SecurityConfirmation	Ex.No.A-111
112	10.12.2021	Balance and SecurityConfirmation	Ex.No.A-112
113	07.03.2023	Balance and SecurityConfirmation	Ex.No.A-113
114	14.06.2023	Balance and SecurityConfirmation	Ex.No.A-114
115	—	Statement of Accounts	Ex.No.A-115

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SCHEDULE –A

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Hypothecated Property

¶74

Goods, Produce, Merchandise, stock stored or to be stored from time to time in premises at M/s. Viji Engineering No.125/12, 13, 14, HAPP Main Road, Happ Post, Trichy — 620 025.

¶75

Goods, Produce, Merchandise, stock stored or to be stored from time to time in premises M/s. Shree Kalesswari Engineering Works No.7/3, A, B, C HAPP Main Road, HAPP post, Trichy — 620 025.

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SCHEDULE –B

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Mortgaged Properties

¶78

Item No.1:

¶79

Tiruchirappalli Registration District, Thiruverumbur Sub Registration Office, Poolangudi Village, Ayan Punja Survey No.22/23 — Acre 5.00 cents of lands have been divided into house plots, in which Plot Nos.46 & 47 in one unit Which are comprised as per new Survey No.97/21A, Within the following four boundaries :

¶80

North of - East West Common Pathway; South of - East West Common Pathway;

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Page 10 of 26

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OA No. 539/2024

¶83

East of - Plot Nos.54 & 55; West of - Plot Nos.34 & 35;

¶84

Measurements :

¶85

Plot No.46:

¶86

East West 43ft.on northern side; 43 ft. on Southern Side; North South 51ft.on Western side;51 ft. on eastern side; Total 2,193sq.ft. vacant site;

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Plot No.47:

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East West 43ft.on northern side; 43 ft. on Southern Side; North South 51ft.on Western side;51 ft. on eastern side; Total 2,193sq.ft. vacant site;

¶89

Item No.2:

¶90

In the above said Village, Ayan Punja Patta No.288, Survey No.22/23 — Acre 5.00 cents of lands have been divided into housing Plots, in which Plot No.54 comprised presently as per new survey No.97/20 within the following four Boundaries :

¶91

North of - Plot No.55; South of - East West Common Pathway; East of - Plot No.62; West of - Plot No.47;

¶92

Measurements :

¶93

East West 42^3/4 ft.on both sides; North South 51 ft on both sides: Total 2,181Sq.ft.equal to 202.62 sq.mts vacant site;

¶94

Item No.3:

¶95

Tiruchirappalli District, Thiruverumbur Taluk, Thiruverumbur Sub Registration Office, Poolangudi Village, Natham Patta No.288, Ayan Punja Survey No.22/23 — Acre 5.00 cents of lands have been divided into house plots, in which Plot No.55 which is comprised as per new Survey No.97/20, Within the following four boundaries:

¶96

North of - Common Pathway; West of - Plot No.46;

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Page 11 of 26

¶98

OA No. 539/2024

¶99

South of - Plot No.54; East of - Plot No.61;

¶100

Measurements:

¶101

East West 42^3/4 ft.on both sides; North South 51 ft on both sides; Total 2,181Sq.ft.equal to 202.62 sq.mts vacant site;

¶102

Item No.4:

¶103

In the above said village, Natham Patta No.893, Survey No.97/19 — Acre 5.00 cents of lands have been divided into housing Plots, in which plot No.61 Within the following four boundaries:

¶104

North of - East West Common Pathway; South of - Plot No.62; West of - Plot No.55; East of - Plot No.70;

¶105

Measurements:

¶106

East West 42^3/4 ft. on both sides; North South 51 ft on both sides; Tolal 2,181 Sq.ft. equal to 202.53 sq. mts vacant site;

¶107

Item No.5:

¶108

Tiruchirappalli District, Thiruverumbur Taluk, Thiruverumbur Sub Registration Office, Poolangudi Village, Natham Patta No.893, Ayan Punja Survey No.97/19 — Plot No.62 Measuring 2181 Sq. ft., Within the following four boundaries:

¶109

East of - Plot No.69; North of - Plot No.61; West of - Plot No.54; South of - Road;

¶110

Measurements:

¶111

East West 42^3/4 , ft.on both sides; North South 51 ft on both sides; Total 2,181Sq.ft.equal to 202.62 sq.mts vacant site;

Page 12 of 26

OA No. 539/2024

Item No.6:

In the above said Sub Registration Office and Village, Survey No.22/23 Corresponding New Survey No.97/19 — Acre 5.00 Cents of lands have divided into housing plots, in which Plot No.70 Within the following four boundaries:

¶116

North of - East West Common Pathway; East of - Main Road leading to Suriyur; South of - Plot No.69; West of - Plot No.61;

¶117

Measurements:

¶118

East West 58 ft. on northern side; 34.32ft. on southern side; North south 52 ft. on western side; 44ft. on eastern side; Total 2215 sq. ft equal to 205.85 sq. mts. Vacant site;

¶119

The above described property lies within the limits of Poolangudi village, Thiruverumbur Panchayat Union.

¶120

Item No.7:

¶121

SL. No.	S.F. No.	Extent (Acres/Cents)	Location	Boundaries
01	125/11	0.88	Trichy Dt., Tk., Thiruverumbur SRO, Suriyur Village	North by: Elanthapatti Village Limit South by: Thangaraj Punjai East by: Thangaraj Punjai West by: Road
02	125/2A1	2.90	Trichy Dt., Tk., Thiruverumbur SRO, Suriyur Village	—
03	125/2A2	1.00	Trichy Dt., Tk., Thiruverumbur SRO, Suriyur Village	North by: Meena land South by: Chandrasekar Land East by: Mahalingam land West by: Suriyur

¶122

Page 13 of 26

¶123

OA No. 539/2024

¶124

SL. No.	S.F. No.	Extent (Acres/Cents)	Location	Boundaries
				Main Road

¶125

Thus totaling an extent of Ac.4.78 cents land.

¶126

Item No.8

¶127

SL. No.	S.F. No.	Extent Ac. Cents	Location	Boundaries
01	45/2	1.88	Trichy Dt., Tk., Thiruverumbur SRO Elanthapatti Village.	North of: S.F.No.11 South of: S.F.No.45/1 East of: S.F.No.10 West of: S.F.No 44
02	7/3 Subdivision No. 7/3B	0.37^1/2 (16350 Sq.ft)	Trichy Dt., Tk., Thiruverumbur SRO Elanthapatti Village.	North of: S.F.No.7/3C South of: S.F.No.7/3A East of: S.F.No.6&8 West of: S.F.No 7/3C

¶128

Item No.9:

¶129

Trichy District, Thiruverumbur Taluk & SRO, Poolangudi Village, Ayan Punjai S.F.No.33/2 for which UDR S.F.No.123/58 an extent of 5250 Sq.ft land with building bearing Door No.1/120, 121 situated within the following four boundaries:

¶130

North of : 10’ Devar Street, South of : Lalitha Plot, East of : Suriyur Road, West of : Saroja and Leelavathy plot

¶131

An extent of East — West on the Northern side 95’, Southern side 80’ North — South on both sides 60’ totaling an extent of 5250 Sq.ft land with building and with all easementary rights including thereon.

Page 14 of 26

OA No. 539/2024

Item No.10:

Item No.(a):

Trichy District, Thiruverumbur Taluk & SRO, Poolangudi Village, Ayan Punjai S.F.No.22/23 for which New S.F.No.97/12 an extent of Ac.5.00 cents land was Plotted out into house sites and in which the property in question Pertains to an extent of 1090 Sq.ft land with building Door No.1/203B, Plot No.24 Western part situated within the following four boundaries:

¶137

North by : Thiyagarajan plot and house, South by : East — West common road, East by : Plot No.24 Eastern part, West by : Suriyur Main road

¶138

An extent of East — West on the Northern side 20’ ; Southern side 22^1/2 North — South on the Eastern side 54^1/2 Sft Western side 48 Sft totaling an extent of 1090 sq.ft land with building and with all easementary rights including thereon.

¶139

Item No.(b):

¶140

Trichy District, Thiruverumbur Taluk & SRO, Poolangudi Village, Ayan Punjai S.F.N0.22/23 for which New S.F.No.97/12 an extent of Ac.5.00 cents land was Plotted out into house sites and in which the property in question Pertains to an extent of 2180 Sq. ft vacant plot out of 3270 Sq ft Vacant plot bearing Plot No.24 Eastern part situated within the following four boundaries:

¶141

North by : Thiyagarajan plot and house, South by : East — West common road, East by : Innasimuthu house,

¶142

West by : Shops belonging to William Charles

¶143

An extent of East — West on the Northern side 51’ ; Southern side 26^1/2’ : North — South on the Eastern side 58' Western side 54^1/2’ totaling an extent of 2180 sq.ft vacant plot and with all easementary rights including thereon.

¶144

Thus Item No.1 & 2 totaling an extent of 3270 sq.ft land with building and with all easementary rights including thereon.

¶145

Item No.11: Item No.(i):

¶146

Page 15 of 26

¶147

OA No. 539/2024

¶148

Trichy District, Thiruverumbur Taluk & SRO, Elanthapatti Village, Old S.F.No.7/3 for which subdivision S.F.No.7/3c an extent of Ac.2.26 cents land in which on the Middle part of Ac.0.75 cents land situated within the following four Boundaries:

¶149

North by : Meena land, South by - Palanisamy and Moorthy Malaiyittar land, East by : Perumal land, West by Meena land

¶150

An extent of Ac.0.75 Cents land and with all easementary rights including thereon.

¶151

Item No.(ii):

¶152

a) Trichy District, Thiruverumbur Taluk & SRO, Elanthapatti Village, Patta Nos.514, 536, Punjai S.F.No.7/3A an extent of Hectare 0.17.0 Ares land equivalent to Ac.0.43 cents land.

¶153

b) S.F.No.7/3F an extent of Ac.1.83 cents land in which the property in question pertains to an extent of Ac.1.36 Cents land situated within the following four boundaries:

¶154

North by : Land in S.F.No.7/3E, South by : Third party land, East by : Land in S.F.No.45, West by : senthilkumar and Nagalakshmi land

¶155

Thus both a) & b) totaling an extent of Ac.1.79 cents land equivalent to 78044 Sq.ft land and with all easementary rights including thereon.

¶156

Item No.12 :

¶157

Trichy District, Thiruverumbur Taluk & SRO, Elanthapatti Village, Ayan Punjai S.F.No.7/3D an extent of Ac.1.25 cents land was plotted out into house sites and in which the property in question pertains to an extent of 4800 Sq.ft vacant plot bearing Plot No.10 & 11 situated within the following four boundaries:

¶158

North by : Plot No.9, South by : Plot No.12, East by : 15’ road, West by : Plot No.6 & 7

¶159

Page 16 of 26

¶160

OA No. 539/2024

¶161

An extent of East — West on both sides 40’ North — South on both sides 120’ totaling an extent of 4800 Sq.ft vacant plot and with all easementary rights including thereon.

¶162

Item No.13: Item No.(a):

¶163

Trichy District, Thiruverumbur Taluk & SRO, Poolangudi Village, Ayan Punjai S.F.No.33/2 an extent of Ac.2.50 cents land out of Ac.5.00 cents land on the Northern part was plotted out into house sites and in which the property in question pertains to an extent of 3924 Sq.ft vacant plot situated within the following four boundaries:

¶164

North of : 10" pathway road, South of : Mariyasusai Plot East of : Suriyur Road, West of : Item No.2 Property

¶165

An extent of East — West on both sides 60’, North — South on both sides 65.4’ totaling an extent of 3924 Sq.ft vacant plot and with all easementary rights including thereon.

¶166

Item No.(b)

¶167

Trichy District, Thiruverumbur Taluk & SRO, Poolangudi Village, Ayan Punjai S.F.No.33/2 an extent of Ac.2.50 cents land out of Ac.5.00 cents land on the Northern part was plotted out into house sites and in which the property in question pertains to an extent of 5350 Sq.ft vacant plot situated within the following four boundaries:

¶168

North of : 10" pathway road, South of : Ibnu Majith Plot East of : Item No.1 Property, West of : Xavier land

¶169

An extent of East — West on the Southern side 40’, Northern side 60’, North — South on the Western side 120’, Eastern sides 94’ totaling an extent of 5350 Sq.ft vacant plot and with all easementary rights including thereon.

¶170

Thus Item No.1 & 2 totaling an extent of 9274 Sq.ft vacant plot and now New S.F.No.123/2.

Page 17 of 26

OA No. 539/2024

Item No. 14

Trichy District, Thiruverumbur Taluk & SRO, Suriyur Village, S.F.No.208/5 an extent of Hectare 0.64.0 Ares land equivalent to Ac.1.58 cents land and with all easementary rights including thereon.

¶175

Item No.15

¶176

Trichy District, Thiruverumbur Taluk, Thiruverumbur SRO, Elandhapatti Village, Ayan Punja old S.F.No.7/3 for which sub division No.7/3A an extent of Ac.0.23^1/2 cents equivalent to an extent of 10246 vacant plot situate within the following four boundaries:

¶177

North by : Land in S.F.No.7/3E plots, South by : Land in S.F.No.7/3F belonging to Nagalakshmi, West by : Land in S.F.No.7/3D plots, East by : remaining land in S.F.No.7/3F

¶178

An extent of Ac.0.23^1/2 cents land equivalent to 10246 Sq.ft vacant plot with all easementary rights including thereon.

¶179

Item No.16

¶180

¶181

North by : Property belonging to Meena, South by : Manjolai Nagar Plots, West by : Property belonging to Meena, East by : Property belonging to Meena,

¶182

An extent of Ac.0.23^1/2 cents land equivalent to 10246 Sq.ft vacant plot with all easementary rights including thereon.

¶183

Item No.17

¶184

Tiruchirappalli Registration District, Thiruverumbur Taluk, Thiruverumbur SRO, Thiruverumbur Village, A R Apartment S F No.56/1B, an extent of Ac 0.9.22 cents land out of Ac 0.69 cents was plotted out, layout formed in which an extent of 1200 sq.ft = 111.48 sq.mts land with building with ground, first floor R C C building (950 sq.ft = 88.26 sq.mts) bearing Door No.41 is situate within the following four boundaries:

¶185

Page 18 of 26

¶186

OA No. 539/2024

¶187

North by : Trichy Tanjai Road, South by : Property of others, East by : Vasanthamani’s land, West by : Property of others.

¶188

An extent of east west on both sides 20’, north south on both sides 60’, totaling to 1200 sq.ft = 11.48 sq.mts with 950 sq.ft = 88.26 sq.mts first floor and 150 sq.ft = 13.94 sq.mts second floor R C C building with all other amenities bearing Door No.41 with all easement and pathway rights including thereon.

¶189

Item No.18

¶190

(1) Tiruchirappalli Registration District, Thiruverumbur Sub Registration Office, Suriyur Village, Patta No.2551, Ayan Punjai Survey No.125/2 as per survey sub division new survey No.125/13 — Extent Hec.0.40.5 Ares equivalent to Acre 1.00 cents of land within the following four boundaries:

¶191

North by : Land belonging to vendor R.Durairaj South by : Land belonging to vendor R.Durairaj West by : Road

¶192

East by : Kandalur Boundary

¶193

Within this four boundaries Hec.0.40.5 Ares equivalent to Acre 1.00 cents of land;

¶194

(2) In the above said Village, Patta No.2551,Ayan Punjai Survey No.125/14 — Extens Hec.0.61.0 Ares equivalent to Acre 1.50 Cents of lands within the following four boundarirs:

¶195

North by : land belonging to Vedavalli, South by : land comprised in S.F.No.125/7 West by : Suriyur — Thiruverumbur Road East by : Kandalur Boundary

¶196

Within this four boundaries, Hec.0.61.0 Ares equivalent to Acre 1.50 cents of land

¶197

(3) In the above said Village, Patta No.2551,Ayan Punjai Survey No.125/2 as per survey sub division new Survey No.125/12 — Extents Hec.0.40.5 Ares equivalent to Acre 1.00 Cents of land within the following four boundaris:

¶198

Page 19 of 26

¶199

OA No. 539/2024

¶200

North by : Land comprised in S.F.No.125/11, South by : Land comprised in S.F.No.125/13 East by : Kandalur Village boundary Westby : Road leading to Suriyur

¶201

Within this four boundaries, Hec.0.40.5 ares equivalent to Acre 1.00 Cents of lands;

¶202

Totaling aforesaid three items — Hec.1.42.0 Ares equivalent to Acre 3.50 Cents of lands;

¶203

Together with all incidental common usual Pathway rights relating thereto: The above described Property lies within the limits of SURIYUR VILLAGE Panchayat and Thiruverumbur panchayat Union.

¶204

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.

¶205

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?

¶206

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. G. Premkumar, who is the Chief Manager of the Applicant Bank.

¶207

He has stated in his affidavit that the defendants has availed CC, GECLS Term Loan-I, GECLS Term Loan-II, CC, Home Loan-I, Home Loan-II 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-115 in support of its claim in the OA.

¶208

The Sanction Ticket Rs. 5,00,00,000/ has been marked as Ex.No.A01, Demand Promissory Note Rs. 5,00,00,000/ has been marked as Ex.No.A-02, Agreement of Hypothecation Movables Rs. 5,00,00,000/ has been marked as Ex.No.A-03, Agreement for Open Cash Credit Rs. 5,00,00,000/ has been marked as Ex.No.A-04, Guarantee Agreement Rs. 5,00,00,000/ has been marked as Ex.No.A-05, Guarantee Agreement Rs. 5,00,00,000/ has been marked as Ex.No.A-06, Sanction Ticket Rs. 8,00,00,000/ has been marked as Ex.No.A-07, Demand Promissory Note

¶209

Page 20 of 26

¶210

OA No. 539/2024

¶211

Rs.8,00,00,000/ has been marked as Ex.No.A-08, Agreement of Hypothecation Movables Rs. 8,00,00,000/ has been marked as Ex.No.A-09, Agreement for Open Cash Credit Rs. 8,00,00,000/ has been marked as Ex.No.A-10.

¶212

The Counter Guarantee Rs. 50,00,000/ has been marked as Ex.No.A11, Guarantee Agreement Rs. 8,00,00,000/ has been marked as Ex.No.A12, Sanction Ticket Rs. 12,00,00,000/ has been marked as Ex.No.A-13, Demand Promissory Note Rs. 12,00,00,000/ has been marked as Ex.No.A14, Agreement of Hypothecation Movables Rs. 12,00,00,000/ has been marked as Ex.No.A-15, Agreement for Open Cash Credit Rs. 12,00,00,000/ has been marked as Ex.No.A-16, Guarantee Agreement Rs. 12,00,00,000/ has been marked as Ex.No.A-17, Sanction Ticket Rs. 47,46,000/ has been marked as Ex.No.A-18, Demand Promissory Note Rs. 47,46,000/ has been marked as Ex.No.A-19, Medium Term Loan Agreement Rs. 47,46,000/ has been marked as Ex.No.A-20.

¶213

The Agreement of Hypothecation Movables Rs. 47,46,000/ has been marked as Ex.No.A-21, Sanction Ticket Rs. 1,28,00,000/ has been marked as Ex.No.A-22, Demand Promissory Note Rs. 1,28,00,000/ has been marked as Ex.No.A-23, Term Loan Agreement Rs. 1,28,00,000/ has been marked as Ex.No.A-24, Agreement of Hypothecation Movables Rs. 1,28,00,000/ has been marked as Ex.No.A-25, Sanction Ticket has been marked as Ex.No.A26, Sanction Ticket Rs. 2,00,00,000/ has been marked as Ex.No.A-27, Demand Promissory Note Rs. 2,00,00,000/ has been marked as Ex.No.A-28, Agreement of Hypothecation Movables Rs. 2,00,00,000/ has been marked as Ex.No.A-29, Agreement for Open Cash Credit Rs. 2,00,00,000/ has been marked as Ex.No.A-30.

¶214

The Agreement of Guarantee has been marked as Ex.No.A-31, Counter Guarantee Rs. 50,00,000/ has been marked as Ex.No.A-32, Sanction Ticket Home Loan Rs. 29,60,000/ has been marked as Ex.No.A-33, Demand Promissory Note Rs. 29,60,000/ has been marked as Ex.No.A-34, Term Loan Agreement Housing Finance has been marked as Ex.No.A-35, Sanction Ticket Home Loan Rs. 2,00,00,000/ has been marked as Ex.No.A36, Demand Promissory Note Home Loan Rs. 2,00,00,000/ has been marked as Ex.No.A-37, Term Loan Agreement for Home Loan has been marked as Ex.No.A-38, Supplemental MOD Document No. 4434/2014 has been marked as Ex.No.A-39, MOD Document No. 636/2016 has been marked as Ex.No.A-40.

¶215

The Supplemental MOD Document No. 637/2016 has been marked as Ex.No.A-41, Supplemental MOD Document No. 1063/2017 has been marked as Ex.No.A-42, Supplemental MOD Document No. 2335/2017 has been marked as Ex.No.A-43, MOD Document No. 3885/2017 has been

¶216

Page 21 of 26

¶217

OA No. 539/2024

¶218

marked as Ex.No.A-44, Sale Deed Document No. 6392/2015 has been marked as Ex.No.A-45, Sale Deed Document No. 1052/2017 has been marked as Ex.No.A-46, Rectification Deed Document No. 470/1990 has been marked as Ex.No.A-47, Sale Deed Document No. 6940/2009 has been marked as Ex.No.A-48, Sale Deed Document No. 402/1990 has been marked as Ex.No.A-49, Sale Deed Document No. 5498/2009 has been marked as Ex.No.A-50.

¶219

The Sale Deed Document No. 2441/2004 has been marked as Ex.No.A-51, Sale Deed Document No. 2020/1988 has been marked as Ex.No.A-52, Sale Deed Document No. 407/1990 has been marked as Ex.No.A-53, Sale Deed Document No. 68/1987 has been marked as Ex.No.A-54, Sale Deed Document No. 4685/2004 has been marked as Ex.No.A-55, Sale Deed Document No. 1112/1983 has been marked as Ex.No.A-56, Sale Deed Document No. 1161/2002 has been marked as Ex.No.A-57, Sale Deed Document No. 4675/2004 has been marked as Ex.No.A-58, General Power Deed Document No. 1677/2007 has been marked as Ex.No.A-59, Sale Deed Document No. 2128/2008 has been marked as Ex.No.A-60.

¶220

The Sale Deed Document No. 8215/2008 has been marked as Ex.No.A-61, Sale Deed Document No. 6929/2008 has been marked as Ex.No.A-62, Sale Deed Document No. 12482/2008 has been marked as Ex.No.A-63, Lease Deed Document No. 4433/2014 has been marked as Ex.No.A-64, Sale Deed Document No. 62/1965 has been marked as Ex.No.A-65, Sale Deed Document No. 4264/1965 has been marked as Ex.No.A-66, Gift Deed Document No. 2553/2007 has been marked as Ex.No.A-67, Sale Deed Document No. 4657/2012 has been marked as Ex.No.A-68, Sale Deed Document No. 4658/2012 has been marked as Ex.No.A-69, Partition Release Deed Document No. 6723/2012 has been marked as Ex.No.A-70.

¶221

The Sale Deed Document No. 7093/2012 has been marked as Ex.No.A-71, Sale Deed Document No. 5148/2011 has been marked as Ex.No.A-72, Sale Deed Document No. 936/1984 has been marked as Ex.No.A-73, General Power Deed Document No. 1399/2010 has been marked as Ex.No.A-74, Sale Deed Document No. 962/2011 has been marked as Ex.No.A-75, Sale Deed Document No. 3554/2014 has been marked as Ex.No.A-76, Sale Deed Document No. 935/1984 has been marked as Ex.No.A-77, General Power Deed Document No. 1398/2010 has been marked as Ex.No.A-78, Sale Deed Document No. 9994/2010 has been marked as Ex.No.A-79, Settlement Deed Document No. 432/2013 has been marked as Ex.No.A-80.

¶222

Page 22 of 26

¶223

OA No. 539/2024

¶224

The Sale Deed Document No. 3621/2014 has been marked as Ex.No.A-81, General Power Deed Document No. 1176/2008 has been marked as Ex.No.A-82, Sale Deed Document No. 6930/2008 has been marked as Ex.No.A-83, Sale Deed Document No. 1436/1976 has been marked as Ex.No.A-84, Gift Settlement Deed Document No. 619/2005 has been marked as Ex.No.A-85, General Power Deed Document No. 202/2008 has been marked as Ex.No.A-86, Sale Deed Document No. 3247/2011 has been marked as Ex.No.A-87, Sale Deed Document No. 1362/1982 has been marked as Ex.No.A-88, Sale Deed Document No. 3793/2004 has been marked as Ex.No.A-89, Sale Deed Document No. 6542/2011 has been marked as Ex.No.A-90.

¶225

The Sale Deed Document No. 3674/2012 has been marked as Ex.No.A-91, Sale Deed Document No. 2957/1987 has been marked as Ex.No.A-92, General Power Deed Document No. 255/1996 has been marked as Ex.No.A-93, Sale Deed Document No. 3058/1996 has been marked as Ex.No.A-94, Sale Deed Document No. 11671/2011 has been marked as Ex.No.A-95, Sale Deed Document No. 5357/1985 has been marked as Ex.No.A-96, Sale Deed Document No. 132/1983 has been marked as Ex.No.A-97, Sale Deed Document No. 267/1994 has been marked as Ex.No.A-98, Sale Deed Document No. 2900/2011 has been marked as Ex.No.A-99, Sale Deed Document No. 9631/2008 has been marked as Ex.No.A-100.

¶226

The Sale Deed Document No. 2244/2008 has been marked as Ex.No.A-101, Sale Deed Document No. 4235/2008 has been marked as Ex.No.A-102, Sale Deed Document No. 7428/2008 has been marked as Ex.No.A-103, General Power Deed Document No. 1139/2009 has been marked as Ex.No.A-104, General Power Deed Document No. 319/2010 has been marked as Ex.No.A-105, Sale Deed Document No. 9480/2010 has been marked as Ex.No.A-106, General Power Deed Document No. 310/2008 has been marked as Ex.No.A-107, Balance and Security Confirmation has been marked as Ex.No.A-108, Balance and Security Confirmation has been marked as Ex.No.A-109, Balance and Security Confirmation has been marked as Ex.No.A-110, Balance and Security Confirmation has been marked as Ex.No.A-111.

¶227

The Balance and Security Confirmation has been marked as Ex.No.A112, Balance and Security Confirmation has been marked as Ex.No.A-113, Balance and Security Confirmation has been marked as Ex.No.A-114, Statement of Accounts has been marked as Ex.No.A-115. So the averments of the applicant as well as the statement of the pleading have been corroborated by the above mentioned documents.

¶228

Page 23 of 26

¶229

OA No. 539/2024

¶230

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.

¶231

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).

¶232

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 ".

¶233

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

¶234

The Applicant Bank is entitled to recover from the Defendants, a total sum of Rs.13,45,34,525.93p i.e.,

¶235

(i) Rs.7,83,58,727.93p together with interest at the rate of 16% p.a. with half yearly rests in respect of CC Loan

¶236

(ii) Rs.25,71,423.43p together with interest at the rate of 9.25% p.a. with half yearly rests in respect of GECLS Term Loan – I

¶237

(iii) Rs.1,48,67,839.10p together with interest at the rate of 9.25% p.a. with half yearly rests in respect of GECLS Term Loan-II

¶238

(iv) Rs.1,69,97,741.25p together with interest at the rate of 16% p.a. with half yearly rests in respect of CC Loan

¶239

(v) Rs.12,42,196.71p together with interest at the rate of 9.75% p.a. with half yearly rests in respect of Home Loan-I

¶240

(vi) Rs.2,04,96,597.51p together with interest at the rate of 9.70% p.a. with half yearly rests in respect of Home Loan-II from the date of filing of Application till the date of realization with cost. Accordingly, it is hereby

Page 24 of 26

OA No. 539/2024

ORDERED

(a) That the Defendants are directed to pay jointly/severally a total sum of Rs.13,45,34,525.93p i.e.,

¶245

(i) Rs.7,83,58,727.93p together with interest at the rate of 16% p.a. with half yearly rests in respect of CC Loan

¶246

(ii) Rs.25,71,423.43p together with interest at the rate of 9.25% p.a. with half yearly rests in respect of GECLS Term Loan – I

¶247

(iii) Rs.1,48,67,839.10p together with interest at the rate of 9.25% p.a. with half yearly rests in respect of GECLS Term Loan-II

¶248

(iv) Rs.1,69,97,741.25p together with interest at the rate of 16% p.a. with half yearly rests in respect of CC Loan

¶249

(v) Rs.12,42,196.71p together with interest at the rate of 9.75% p.a. with half yearly rests in respect of Home Loan-I

¶250

¶251

(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.

¶252

(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.

¶253

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

¶254

Page 25 of 26

¶255

OA No. 539/2024

¶256

(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.

¶257

(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, GECLS Term Loan-I, GECLS Term Loan-II, CC, Home Loan-I, Home Loan-II 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.

¶258

Dictated to T.P, taken down, transcribed, typed by her, corrected and pronounced by me in the Open Court in this the 08^th May, 2026.

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Sd/- (SEEMA SINHA) PRESIDING OFFICER

¶260

Uploaded on 19.05.26

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Page 26 of 26

Indian Bank v. Viji Engineering

Case brief

What is this about?

What did the court decide?

Indian Bank v. Viji Engineering

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

Case details

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