S.Manikumar, J. - (1.) The petitioner has availed loan and there was a default. Bank of Baroda, Namakkal has filed O.A.No.315 of 2011, for recovery of Rs.88,05,951/-. Defendants have entered appearance. Chance for filing reply statement has been closed. Subsequently, Bank filed proof affidavit and documents. Chance for filing proof affidavit on behalf of the defendants has been closed. Thereafter, on 24/2/2015, defendants were set ex parte. After hearing the arguments of the bank and the material on record, Debts Recovery Tribunal, Madurai, in S.A.No.315 of 2011, granted a decree holding that, a. the defendants are personally/jointly/severally liable to pay the total claim of (a) Rs.5,11,189/- under Term loan - I (b) Rs.6,04,938/- inder Term Loan - II (c). Rs.37,35,858/- under Term loan III and (d) Rs.39,53,966/- under OCC, subject to the reduction of capitalised Penal Interest amount from all the four loans and with subsequent interest from 17/11/2011 at 11.5% p.a., till the date of realization along with costs. b. In case of the default of payment by the above mentioned amount by the defendants under the above said four loans, the applicant bank is at liberty to sell the movable hypothecated properties described in the Schedule 'A' and to sell the immovable mortgaged properties described in the Schedule 'B' and for appropriation of sale proceeds in and towards the satisfaction of amount due, to the applicant Bank. c. If the sale proceeds were not sufficient after defraying the expenses of such sale for the payment of all such amounts, the defendants are personally/jointly/severally liable to pay the amount of such deficiency to the applicant Bank with interest mentioned above until realisation. d. Recovery certificate may be prepared as per the directions given above of this judgment and be issued accordingly. f. It is further ordered that 30 days time from the date of receipt of this order, is granted to the applicant Bank to file cost memo, along with fresh statement of Account for cash Credit Account after reversing Capital Interest amount debited, so as to prepare the recovery certificate for correct amount with costs and future interest and also to direct the recovery officer to proceed with the matter in accordance with law. In case, cost memo has not been filed before the above mentioned time, Recovery certificate will be prepared with available records of the case and direction will be given to the Recovery Officer to proceed with the order. The Registry is directed to communicate the copy of this order to all the concerned as provided in Rule 16 of the DRT (Procedure) Rules, 1993.
(2.) Petitioners have filed I.A.No.922 of 2015 in O.A.No.315 of 2011, to condone the delay in filing rely statement and to set aside the ex parte order, dated 24/3/2015, in O.A.No.315 of 2011, on the file of the Debts Recovery Tribunal, Madurai.
(3.) Bank has filed counter affidavit. After hearing the learned counsel for the parties, vide order, dated 28th September 2016, Debts Recovery Tribunal, Madurai, dismissed the I.A., and observed as hereunder:- "Therefore having taken into consideration of the attitude of the petitioners narratedand the submissions made by the learned counsel for the respondent Bank and the ruling rendered by the Hon'ble Supreme Court, this Tribunal is of the view that the reasons stated by the petitioners/defendants are not sufficient and are not instilling any confidence as to the bonafides of the petitioners. Therefore, this Tribunal is not inclined to consider the prayer of the petitioners. Hence I.A.No.922 of 2015 is dismissed. No costs.";