Indian Bank v. S. v Associates
Case brief
What is this about?
The Tribunal allowed the bank's申请 for a recovery certificate under the RDB Act. Exploiting unchallenged evidence, it awarded Rs.26,22,770.33 plus 10% annual interest retrospectively from the application date, dismissing the defense for non-appearance.
What did the court decide?
Recovery certificate drawn for Rs.26,22,770.33 plus 10% simple interest from filing date; defendants jointly and severally liable.
What the court decided
BEFORE THE DEBTS RECOVERY TRIBUNAL –II AT CHENNAI
Dated this 26th day of May, 2023
PRESENT: SHRI T. RAJESH
PRESIDING OFFICER
TA No.172 of 2023
(Originally filed before DRT-I Chennai as OA No.173 of 2019 and thereafter transferred to this Tribunal and renumbered as TA No.172 of 2023)
Indian Bank
Rep. by its Chief Manager K.P. Sasi Rekha, D/o C. Dharmaraj Nungambakkam Branch No.9, 7th Cross Street, Lake Area Nungambakkam, Chennai – 600 034
…Applicant
Versus
- S.V. Associates 2A, Flat No.1, Ground Floor Sri Krishna Apartments Warren Road, Mylapore Chennai – 600 004
- S. Sridhar S/o Subramanian 2A, Flat No.1, Ground Floor Sri Krishna Apartments Warren Road, Mylapore Chennai – 600 004
Issues for consideration
2 issues framed by the court
Whether the applicant bank has established its claim against the defendants and for what amount?
Whether the applicant bank is entitled for pendent lite and future interest, and at what rate?
Parties & counsel
- applicant
Indian Bank
- respondent
S.V. Associates
- respondent
S. Sridhar
- respondent
Maya Mahalakshmi
Coram
Case details
As recorded by the court registry
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