Allowed

Idbi Bank v. The Goverment Telecommunication Emp Co. Op Socity Ltd.

DRT29 May 2026TA/1726/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an original application filed by IDBI Bank Ltd. for recovery of dues totaling approximately Rs. 20.41 crore from the Government Telecommunication Employees Co-operative Society Limited. The court held that the bank proved its claim through affidavit evidence and documents, while the defendant failed to contest the application.

What did the court decide?

Allowed recovery of Rs. 20.41 crore with interest and costs; attachment order made absolute; liberty to recover via sale of properties.

Idbi Bank versus The Goverment Telecommunication… — Contract and Commercial Disputes | DRT (2026)

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TA. No. 1726 of 2023

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29.05.2026

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 29^th day of May, 2026

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Present: SMT. S.V. GOWRAMMA Presiding Officer

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TRANSFERRED APPLICATION No.1726 of 2023

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(Originally filed before DRT- II, Chennai as OA No.166 of 2021 and thereafter transferred to this Tribunal and renumbered as TA No.1726 of 2023)

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IDBI Bank Ltd., No.115, Anna Salai, Saidapet, Chennai – 600 015 Rep. by its Deputy General Manager

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…Applicant

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-Vs-

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The Government Telecommunication Employees Co-operative Society Limited

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37A, Sembudoss Street

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Chennai – 600 001

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Represented by its President

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Shri S Veera Raghavan

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Union Bank of India

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SAM Branch,

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Old.No.95, New.No.137, Anna Salai, Chennai – 600 002

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Andhra Bank

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(Now merged with Union Bank of India) Triplicane Branch

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No.111, Big Street

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Chennai – 600 005

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City Union Bank Mount Road branch 706, Anna Salai, Thousand Light, Chennai – 600 006

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State Bank of India Jeevan Anand Building, No.556 Anna Salai, Teynampet

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Chennai – 600 018

Bank of India Mylapore branch No.120 (Old No.174) Luz Church Road Mylapore, Chennai – 600 004

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Canara Bank Anna Nagar (East) A12/13, II Avenue, Anna Nagar Chennai -600 015

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Central Bank of India Addison Building, No.803, Anna Salai, Mount Road, Chennai – 600 002

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Repco Bank Corporate Branch D.No.18, CP Ramasamy Road Alwarpet Chennai – 600018 ….Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s. N.V.S. & Associates

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Counsel for 1^st defendant: M/s. S. Pandurangan

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Counsel for 4^th defendant : M/s R. Sivaraman Counsel for 5^th defendant : M/s O. Padmaprakash 3^rd defendant was set ex-parte on 04.07.2022

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Defendants 6 to 9 were set ex-parte on 25.05.2022

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: - FINAL ORDER- :

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This Original Application is filed on 04.02.2021 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 1^st defendant, for recovery of a total sum of Rs.20,41,40,608.11p (Rupees Twenty Crores Forty One Lakhs Forty Thousand Six Hundred and Eight and Eleven Paise only) as follows:

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(i) A sum of Rs.5,42,186/- due in respect of Term Loan - I (A/c No. 0119673200001076) repayable together with further interest @ 12.45% p.a. with monthly rests plus penal interest @ 2% from the date of Application till the date of realization in full;

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(ii) A sum of Rs.4,80,68,162 /- due in respect of Term Loan - II (A/c No. 0129673200001762) repayable together with further interest @ 12.45% p.a. with monthly rests plus penal interest @ 2% from the date of Application till the date of realization in full;

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(iii) A sum of Rs.15,55,30,260.11p due in respect of Term Loan - IV (A/c No. 0380673200000383) repayable together with further interest @ 12.40% % p.a. with monthly rests plus penal interest @ 2% from the date of Application till the date of realization in full;

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for sale of schedule mentioned hypothecated assets and for costs of this OA.

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Originally, this Application was filed before DRT-II, Chennai, assigned OA No.166 of 2021, and thereafter in pursuance to the notification from Ministry of Finance, DFS dated 04.10.2022, OA No.166 of 2021 stood transferred to this Tribunal and renumbered as TA No. 1726 of 2023.

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Brief Facts of the case:

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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.

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It is the case of the applicant bank that the 1^st Defendant is controlled by the Central Registrar, New Delhi. The primary function of the 1^st Defendant is to issue Ordinary Loan, Housing Loan to its Members who are the employees of Bharat Sanchar Nigam Limited (shortly known as BSNL). The 1^st Defendant operates in Tamil Nadu, Karnataka, Andhra Pradesh, Kerala, Union Territory of Pondicherry, Haryana and West Bengal.

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The 1^st Defendant approached the Applicant for a Term Loan of Rs.25,00,00,000/- (Rupees Twenty Five Crores only). The purpose of seeking the loan was to enable the 1^st Defendant to lend loans to its Members for a maximum period of 90 months. The proposal was

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considered by the Applicant and they issued a Letter of Sanction Ref.No.38/MCG/GTEC dated 7^th April 2012 on the following among other terms:

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a) Loan Amount- Rs.25,00,00,000/-

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b) Purpose- To enable the 1st Defendant to lend loans to its members for a maximum period of 90 months

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c) Rate of Interest- Bank Base Rate (BBR) + 2.25% p.a. with a monthly rest (on the date of sanction BBR was 10.75% and hence the applicable rate of interest is 18% p.a).

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d) Security- First charge by way of hypothecation in favour of the Applicant Bank of all the Society’s Book debts both present and future ranking pari-passu charge with the existing lenders. Exclusive charge on the Debt service reserve account. The 1st Defendant shall place FD equivalent to three months principal and interest with lien marked.

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The applicant bank submits that the 1^st Defendant in its meeting dated 09.04.2012 passed Resolution R.C 2046/2012 accepting the said offer of Financial assistance and avail the loan on the terms and conditions contain in the Letter of Sanction viz., Ref.No.38/MCG/GTEC dated 7^th April 2012 and further agreed to such changes and modifications in the Letter of Sanction referred to above and agree to such changes and modifications in the said terms and conditions as may be suggested and acceptable to the Applicant Bank from time to time and execute such

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documents, deeds and other writings as may be required for the purpose. The Letter of Sanction has been duly approved by the Authorised Representative of the 1^st Defendant. In consideration of having availed the loan, the 1^st Defendant represented by its Authorised Signatories executed the Loan Agreement dated 09.04.2012 at Chennai which Agreement specifies the terms and conditions on which the loan has been availed by the 1^st Defendant.

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The Applicant submits that as per the terms of the Loan Agreement, the entire amount with interest is repayable in 90 equated monthly installments after a moratorium period of one (1) month from the date of first disbursement.

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It is submitted by the applicant bank that the 1^st Defendant through its Authorised Representative has also executed Deed of Hypothecation dated 9^th April 2012 in favour of the Applicant Bank wherein the 1^st Defendant had hypothecated by way of First Parri passu charge with other lenders all the Borrower’s entire book debts, bills, whether documentary or clean, outstanding monies receivables, both present and future, bookdebts and all other movable assets of the Borrower including but not limited to documents of title to the goods, outstanding moneys, receivables including receivables by way of cash assistance and/or cash incentives under the Cash Incentive Scheme or any other Scheme claims including claims by way of refund of customs/excise duties under the Duty Drawback Credit Scheme or any other Scheme, bills, invoice

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documents, contracts, insurance policies, guarantees, engagements, securities, investments and rights as defined in the Schedule attached to the Deed of hypothecation.

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The Applicant submits that after availment of the first loan, the 1^st Defendant required further finance and approached the Applicant Bank. Considering the said request, the Applicant Bank sanctioned the II Term Loan on 02.03.2013 vide Sanction Letter Ref.No.3443/CBG/TGTECSL dated 02.03.2013 on the following among other conditions:

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a) Loan Amount- Rs.25,00,00,000/-

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b) Purpose- To enable the 1st Defendant to lend loans to its members for a maximum period of 90 months

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c) Rate of Interest- Bank Base Rate (BBR) + 225 bps p.a. Interest is payable with a monthly rest (on the date of grant BBR was 10.25% p.a. and hence the applicable rate of interest is 12.50% payable monthly).

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d) Security- First charge by way of hypothecation in favour of the Applicant of all the Society’s Book debts both present and future ranking pari-passu charge with the other lenders. Exclusive charge on the Debt service reserve account. The 1st Defendant shall place FD equivalent to three months principal and interest with lien marked.

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The applicant bank submits that the Authorised Representative of the 1^st Defendant has confirmed the terms of sanction by signing the copy of the Sanction Letter Ref.No.3443/CBG/TGTECSL dated 02.03.2013.

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The 1^st Defendant passed the resolution dated 18.03.2013 for having accepted the terms of sanction and further confirmed that the 1^st Defendant will avail the loan.

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In consideration of having availed the loan, the 1^st Defendant represented by its Authorised Signatory executed the Loan Agreement dated 21.03.2013 which Agreement specifies the terms and conditions on which the loan was availed by the 1^st Defendant.

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The 1^st Defendant through its Authorised Representative has also executed Deed of Hypothecation dated 21^st March 2013 in favour of the Applicant Bank wherein the 1^st Defendant had hypothecated by way of First parri passu charge with other lenders all the Borrower’s entire book debts, bills, all outstanding monies receivables both present and future and other movable assets of the Borrower including but not limited to documents outstanding monies and other cash receivables and incentives as defined in the Schedule attached to the Deed of hypothecation.

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The Applicant submits that the 1^st Defendant required further finance and approached the Applicant Bank and the Applicant Bank sanctioned the III Term Loan on 25.08.2014 vide Sanction Letter Ref. No.

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IDBI/380/CBG/21/TGTECSL/111/14-15 dated 25.08.2014 on the following among other conditions:

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a. Loan Amount- Rs.37,00,00,000/-

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b. Purpose- To enable the 1st Defendant to lend loans to its members for a maximum period of 90 months

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c. Rate of Interest- Bank Base Rate (BBR) + 225 bps p.a. Interest is payable with a monthly rest (on the date of grant BBR was 10.25% p.a. and hence the applicable rate of interest is 12.50% payable monthly).

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d. Security- Extension of first charge by way of hypothecation in favour of the Applicant on the entire book debts of the 1st Defendant, both present and future ranking first pari-passu charge with the existing lenders. The Society to maintain asset cover of 1.25 times throughout the tenancy of this loan. Exclusive charge on the Debt service reserve account. The 1st Defendant shall place FD equivalent to three months principal and interest with lien marked.

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The Authorised Representative of the 1^st Defendant has confirmed the terms of sanction by signing the copy of the Sanction Letter Ref.No. IDBI/380/CBG/21/TGTECSL/111/ 14-15 dated 25.08.2014.

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The 1^st Defendant passed the resolution dated 01.09.2014 for having accepted the terms of sanction and further confirmed that the 1^st Defendant for having availed the loan.

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In consideration of having availed the loan, the 1^st Defendant represented by its Authorised Signatories executed the Loan Agreement dated 02.09.2014 which Agreement specifies the terms and conditions on which the loan was availed by the 1^st Defendant.

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The 1^st Defendant through its Authorised Representative has also executed Deed of Hypothecation dated 02.09.2014 in favour of the Applicant Bank wherein the 1^st Defendant had hypothecated by way of First parri passu charge with other lenders all the Borrower’s entire book debts, bills whether documentary or clean, outstanding monies receivables, both present and future, book-debts and all other movable assets of the Borrower including but not limited to documents of title of goods, outstanding monies receivables including receivables by way of cash assistance and/or cash incentives under the Cash Incentive Scheme or any other Scheme claims including claims by way of refund of customs/excise duties under the Duty Drawback Credit Scheme or any other Scheme, bills invoices documents, contracts, insurance policies, guarantees, engagements, securities, investments and rights.

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The Applicant further submits that the 1^st Defendant required IV Term Loan and the revision of the existing Term Loans. Therefore, a modified Sanction Letter Ref. No. IDBI/CBGII/380/TGTECSL/757/15-16 dated 27^th June 2015 was sanctioned. As per the revised sanction, Term Loan I was revised to Rs.15,00,00,000/-(Rupees Fifteen Crores only), Term Loan II was revised toRs.18,06,00,000/- (Rupees Eighteen Crores

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and Six Lakhs only) and Term Loan III was satisfied and Term Loan IV was sanctioned for a sum of Rs.37,00,00,000/- (Rupees Thirty Seven Crores only). With the revision of the existing Term Loan I & II and sanctioning of Term Loan IV, the total amount sanctioned was Rs.70,06,00,000/- (Rupees Seventy Crores and Six Lakhs only) on the following among other conditions:

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a) Loan Amount- Rs.37,00,00,000/-

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b) Purpose- To enable the 1st Defendant to lend loans to its members for a maximum period of 90 months

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c) Rate of Interest- Bank Base Rate (BBR) + 225 bps p.a. Interest is payable with a monthly rest (on the date of grant BBR was 10.25% p.a. and hence the applicable rate of interest is 12.50% payable monthly).

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d) Security- Extension of first charge by way of hypothecation in favour of the Applicant on the entire book debts of the 1st Defendant, both present and future ranking first pari-passu charge with the existing lenders. The Society to maintain asset cover of 1.25 times throughout the tenancy of this loan. Exclusive charge on the Debt service reserve account. The 1st Defendant shall place FD equivalent to three months principal and interest with lien marked .

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The Authorised Representatives of the 1^st Defendant had confirmed the terms of sanction by signing the copy of the Sanction Letter Sanction

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Letter Ref. No. IDBI/CBGII/380/TGTECSL/757/15-16 dated 27^th June 2015.

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The 1^st Defendant passed the Resolution dated 29.06.2015 for having accepted the terms of sanction viz., Ref. No. IDBI/CBGII/380/TGTECSL/ 757/15-16 dated 27^th June 2015 and further confirmed that the 1^st Defendant will avail the loan.

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The Applicant further submits that in consideration of having availed the loan, the 1^st Defendant represented by its Authorised Signatory, executed the Loan Agreement dated 30.06.2015 containing the terms and conditions on which the loan has been availed by the 1^st Defendant.

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The Authorised Representative of the 1^st Defendant further executed the Deed of Hypothecation dated 30^th June 2015 in favour of the Applicant Bank, hypothecated by way of First parri passu charge with other lenders all the Borrower’s entire book debts, bills, whether documentary or clean, outstanding monies receivables, both present and future, book-debts and all other movable assets of the Borrower including but not limited to documents of title to the goods, outstanding moneys, receivables including receivables by way of cash assistance and/or cash incentives under the Cash Incentive Scheme or any other Scheme claims including claims by way of refund of customs/excise duties under the Duty Drawback Credit Scheme or any other Scheme, bills, invoice documents, contracts, insurance policies, guarantees, engagements, securities,

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investments and rights as defined in the Schedule attached to the Deed of hypothecation.

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The Applicant further submits that the Authorised Representatives of the 1^st Defendant executed Balance Confirmation Letters as on 31.03.2014, 31.03.2015, 31.03.2019 and also Revival Letters dated 28.07.2017 and 26.11.2019. The Applicant further submits on the request of the 1^st Defendant, the Applicant sanctioned the modified Sanction Letter (dated 26.02.2018, 02.04.2019, 07.04.2019).

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It is submitted by the applicant bank that the account of the 1^st Defendant became Non-Performing Asset (NPA) on 30.11.2019. The Defendants 2 to 9 are Co-lenders and by exchanging letters that the charge created in favour of the lenders including the Applicant is a paripassu charge over the hypothecated security without any preference of one over the other. Therefore, the Defendants 2 to 9 have been arrayed in this OA as Formal Defendants and this Applicant is not claiming any relief against the Defendants 2 to 9 in this O.A.

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The Applicant further submits that after availment of the loan and also after enjoying revised and enhanced facilities, the 1^st Defendant committed default in repayment of the principal as well as the payment of interest. Therefore, the Applicant was constrained to issue Recall Notice Ref. No. IDBI (129)/MCG/GTECS/64/2019-20 dated 2^nd January 2020, directing the 1^st Defendant to pay a sum of Rs.22,78,65,175.25p (Rupees Twenty Two Crores Seventy Eight Lakhs Sixty Five Thousand One

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Hundred and Seventy Five and Paise Twenty Five only) which amount is inclusive of interest calculated upto 30.11.2019 with further interest due thereon from 01.12.2019 at the contractual rate till payment / realization of the entire outstanding debts.

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The Applicant further submits that the particulars of default in repayment of Principal and payment of interest are detailed in Annexure III to the said recall notice. Though the applicant is entitled to claim penal interest as per the terms of Sanction and further though they have claimed Penal Interest @ 2% per annum on the outstanding debt, they have not capitalized the penal interest and complied with the ratio laid down by the Hon’ble Supreme Court in Central Bank of India Vs. Ravindra & Ors. [AIR 2001 SC 3095] . Despite repeated request and reminders, as 1^st defendant did not come forward to repay the dues, the present Original Application (OA) has been filed by the applicant bank for recovery of its dues from the defendants.

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After the filing of the OA, summons were sent to the Defendants 1 to 9 through Registered Post with Acknowledgment Due, which was served in respect of D-1, D-3 to D-9 while summons to D-2 returned with remarks “Left”. Applicant Bank had caused paper publication of the notice and filed proof thereof. Defendants 1, 4 and 5 entered appearance through their counsel and filed vakalath. When OA was taken up on 25.05.2022 even after giving sufficient time, there was no appearance or representation from the defendants 6 to 9. Hence, Defendants 6 to 9 were

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placed ex-parte on 25.05.2022.

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Despite availing several adjournments, as defendants 1, 3 and 4 did not file any written statement, opportunity to file written statement by defendants 1, 3 and 4 was closed on 02.08.2022.

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Heard the submissions of Applicant Bank and perused the records.

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To prove the case of the Applicant Bank, Mr. M. Mohanasundaram, Authorised officer 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-29.

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During the pendency of OA, 5^th defendant (State Bank of India) filed memo dated 21.09.2022 submitting therein that the account of 1^st defendant with State Bank of India has already been closed. Despite availing substantial adjournments, as defendants 1, 3 and 4 did not file Counter Proof Affidavit, opportunity to file CPA was closed on 15.04.2024.

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It is a matter of record that IA No.877/25 and 878/25 filed by 1^st defendant for condonation of delay of 924 days in filing petition to reopen the chance for filing written statement and to recall the order dated 02.08.2022 closing the chance for filing written statement, were dismissed vide order dated 17.10.2025.

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In the meanwhile, the applicant bank filed IAs 858/25 and 1652/25 praying to order attachment of the IA schedule property and to direct 1^st defendant to furnish equivalent to the claim of the applicant bank, failing

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which to pass an order of attachment of all the properties detailed in the schedule to the IA. Despite show cause notice, as 1^st defendant failed to furnish security to the tune of OA claim, attachment order dated 22.07.2025 is made absolute in respect of properties mentioned in IAs 858/25 and 1652/25.

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A careful examination of the pleadings in the Proof Affidavit and documents Exhibits A-1 to A-29 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 1^st defendant.

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Despite receipt of summons and entered appearance through the counsel on 11.10.2021, 1^st defendant did not choose to file Written Statement on time despite availing six adjournments, to contest the claim of applicant bank. Hence opportunity to file written statement was closed on 02.8.2022. The 1^st defendant had filed IAs praying for condonation of delay and to re-open the chance of filing written statement, without even properly explaining the delay. Consequently, the IAs came to be dismissed on 17.10.2025. Further, a careful scrutiny of records makes it 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 1^st defendant

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are produced or filed to dispute the claim of applicant bank. Hence, it can be concluded that applicant bank has proved its claim against 1^st defendant.

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Defendants 2 to 9 being financial institutions are arrayed as formal parties and no relief is claimed against them by the applicant bank.

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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:

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: O R D E R :

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The OA is allowed with costs,

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(a) The applicant bank is allowed to recover from the 1^st Defendant, total sum of Rs.20,41,40,608.11p (Rupees Twenty Crores Forty One Lakhs Forty Thousand Six Hundred and Eight and Eleven Paise only) as follows:

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(ii) A sum of Rs.4,80,68,162 /- due in respect of Term Loan - II (A/c No. 0129673200001762) repayable together with further interest @ 12.45% p.a. with monthly

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rests plus penal interest @ 2% from the date of Application till the date of realization in full;

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(iii) A sum of Rs.15,55,30,260.11p due in respect of Term Loan - IV (A/c No. 0380673200000383) repayable together with further interest @ 12.40% % p.a. with monthly rests plus penal interest @ 2% from the date of Application till the date of realization in full along with costs of this OA.

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(b) Attachment order passed in IAs 858/25 and 1652/25 dated 22.07.2025 is made absolute.

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(c) 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 OA schedule mentioned hypotheca and immovable properties morefully detailed in the IAs 858/25 and 1652/25 schedule.

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(d) OA and IAs Schedule mentioned immovable properties shall be appended to this final order.

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(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 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.

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(f) The applicant bank shall file memo of costs within ten days

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from the date of this final order.

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(g) Recovery Certificate shall be drawn up and issued to the

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Recovery Officer in terms of the final order.

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

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

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(Dictated to PS, transcribed by her, corrected, signed and pronounced by me on this

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the 29^th day of May, 2026)

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ANNEXURES

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WITNESSES EXAMINED FOR THE APPLICANT BANK :

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AW-1: Mr.Mohanasundaram, Authorised officer of the Applicant Bank

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Exhibits on the part of the Applicant:

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S. No.	Date	Description of Documents	Exhibit No.
1.		Certificate of Registration under Multi State Cooperative Society Act	A-1
2.	07.04.2012	Letter of Sanction Ref. No.38/MCG/ GTEC for Term Loan of Rs.25.00 Crores	A-2
3.	09.04.2012	Board Resolution passed by the 1^st Defendant, accepting the terms and conditions of the Sanction dated 07.04.2012	A-3
4.	09.04.2012	Loan Agreement entered into between the 1^stDefendant and the Applicant Bank	A-4
5.	09.04.2012	Deed of Hypothecation executed by the 1^st	A-5

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		Defendant through its Authorised Representative in favour of the Applicant Bank
6.	02.03.2013	Letter of Sanction Ref.No.3443/CBG/TGTECSL sanctioning the II Term Loan of Rs.25.00 Crores	A-6
7.	18.03.2013	Board Resolution passed by the 1^st Defendant, accepting the terms and conditions of the Sanction dated 02.03.2013	A-7
8.	21.03.2013	Loan Agreement entered into between the 1^stDefendant and the Applicant Bank	A-8
9.	21.03.2013	Deed of Hypothecation executed by the 1^st Defendant in favour of the Applicant Bank	A-9
10.	25.08.2014	Letter of Sanction Ref. No. IDBI/380/CBG/21/TGTECSL/111/14-15 sanctioning the III Term Loan of Rs.9.00 Crores	A-10
11.	01.09.2014	Board Resolution passed by the 1^st Defendant, accepting the terms and conditions of the Sanction dated 25.08.2014	A-11
12.	02.09.2014	Loan Agreement entered into between the 1^stDefendant and the Applicant Bank	A-12
13.	02.09.2014	Deed of Hypothecation executed by the 1^st Defendant in favour of the Applicant Bank	A-13
14.	27.06.2015	Letter of Sanction Ref. No. IDBI/ CBGII/380/TGTECSL/757/15-16	A-14
15.	30.06.2015	Board Resolution passed by the 1^st Defendant, accepting the terms and conditions of the Sanction dated 27.06.2016	A-15
16.	30.06.2015	Loan Agreement entered into between the 1^stDefendant and the Applicant Bank	A-16
17.	30.06.2015	Deed of Hypothecation executed by the 1^st Defendant in favour of the Applicant Bank	A-17
18.	08.04.2014	Balance confirmation letter as on 31.03.2014 executed by the 1^stDefendant	A-18
19.	07.04.2015	Balance confirmation letter as on 31.03.2015 executed by the 1^stDefendant	A-19
20.	15.04.2016	Balance confirmation letter as on 31.03.2016 executed by the 1^stDefendant	A-20
21.	03.04.2017	Balance confirmation letter as on 31.03.2017 executed by the 1^stDefendant	A-21
22.	03.04.2018	Balance confirmation letter as on 31.03.2018 executed by the 1^stDefendant	A-22
23.	03.04.2019	Balance confirmation letter as on 31.03.2019 executed by the 1^stDefendant	A-23
24.		Copies of letters exchanged between Co- lenders with respect to Pari-Passu Charge	A-24

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25.	28.07.2017	Revival Letter by Applicant Bank – Acknowledgement of Debts by 1^stDefendant as on 31.03.2017	A-25
26.	26.11.2019	Revival Letter by 1^st Defendant acknowledging the Debts as on 31.03.2019	A-26
27.	02.01.2020	Recall Notice issued by the Applicant Bank to the 1^stDefendant	A-27
28.	23.12.2020	Receivable Statement for the quarter ending March, 2020	A-28
29.		Statement of Accounts along with Certificate as per the Banker’s Book Evidence Act, 1891	A-29

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Witness Examined for the Defendants: -Nil-

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List of Documents Exhibited for the Defendants: -Nil –

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:-SCHEDULE (OA)-:

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(As per Deed of Hypothecation dated 30^th June 2015)

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The Borrower’s entire book-debts, bills whether documentary or clean, outstanding monies receivables, both present and future, bookdebts and all other movable assets of the Borrower including but not limited to documents of title to the goods, outstanding moneys, receivables including receivables by way of cash assistance and/or cash incentives under the Cash Incentive Scheme or any other Scheme claims including claims by way of refund of customs/excise duties under the Duty Drawback Credit Scheme or any other Scheme, bills, invoice documents, contracts, insurance policies, guarantees, engagements, securities, investments and rights.

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IA No.1652/2025

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A – SCHEDULE

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Trichirapalli District, Trichirapalli Taluk, Trichy Registration District, Tiruchirapalli Joint I & II Sub-Registration District, Tiruchirapalli Corporation, Royal Road within Old Ward-I, Block-25, Old T.S. No.142 part & 144 part, New Ward K, New Block-17, New T.S. No.24, within an extent of 15,650 sq.ft. and subsequently subdivided as New T.S. No.24/1, bounded on the

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TA. No. 1726 of 2023

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East by : Old T.S. No.143 & 142 Part

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South by : Old T.S. No.144 Part

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West by : Old T.S. No.145 (Road)

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North by : Old T.S. No.141/2

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Within this an extent of 3914.5 sq.ft. on the southern side was allotted to one Mrs. Prema already and the balance area of 11735 sq.ft. bounded on the

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East by : Property in Old T.S. No.143 & 142 Part belonging to third parties

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South by : Property belonging to Mrs. Prema & Compound Wall Lying east to west belonging to Mrs. Prema

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West by : South to North Road

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North by : Property belonging to VISHAGAM APARTMENTS

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East to West 181’6’ on the North 174.6’ on the South, North to South 67’4’ on the East, 63’4’ on the West (excluding the compound). Measuring in all 11,735 sq.ft. of vacant site and also together with all pathway and easement rights.

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B – SCHEDULE

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An undivided 4425 sq.ft. of vacant land mentioned in ‘A’ Schedule of total extent of 11,735 sq.ft. comprised in T.S. No.24/1 New Ward-K, New Block-17 of Trichy Taluk and the constructed commercial complex in First Floor of Plinth Area 2547 sq.ft., Second Floor of Plinth Area 2410 sq.ft., Third Floor of Plinth Area 2410 sq.ft., Fourth Floor of Plinth Area 1660 sq.ft. Totally 9027 sq.ft. Door No.9/3, 9/4, 9/5, 9/6, 9/7, 9/8, 9/9, Royal Road (M.K.T. Road) in Schedule ‘A’ Property and all other easementry rights pertaining thereto is conveyed by this deed. Tax

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TA. No. 1726 of 2023

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Assessment No. 11552, 11553, 11554, 11555, 11556, 11557, 11558, EB Service No: 43, 374, 376, 377, 379, 380, 382.

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This Property lies within Tiruchirapalli Corporation.

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IA No.858/2025

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SCHEDULE

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Vacant site being part of House, Ground and Premises present No. 3 former No. 5 in Mclean Street (which comprises of former Door No. 4/166, Broadway, Madras) with R.S.No.11524 extent 8 grounds 1205 sq.ft. and former No.6, Goomes Street, with R.S.No.11525 of extent 2301 sq.ft. totalling 9 grounds and 1706 sq.ft. and now being part of R.S.No.11524, and bounded on the:

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North by : Land and Building owned by the Vendor Bank

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South by : Goomes Street

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East by : Sembudoss Street

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West by : Land and Buildings of the Vendor Bank

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Admeasurement 2400 sq.ft. comprised in part of R.S.No.11524 and situate within the Registration District of Madras and Sub Registration District of North Madras.

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Sd/-

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

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Uploaded on 29.05.2026 at 17:00 hours

Idbi Bank v. The Goverment Telecommunication Emp Co. Op Socity Ltd.

Case brief

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Idbi Bank v. The Goverment Telecommunication Emp Co. Op Socity Ltd.

Case brief

What is this about?

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What the court decided

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