Canara Bank v. Anbalagan
Case brief
What is this about?
The Tribunal allowed a Transfer Application filed by Canara Bank to recover an outstanding agricultural loan of approximately Rs. 50.88 lakhs from the defendant via interest and sale of secured assets.
What did the court decide?
Recovery of Rs.50,88,829/- with 10% p.a. interest; authorization to sell schedule 'F' property and proceed against hypothecated assets; issuance of Recovery Certificate.
What the court decided
IN THE DEBT RECOVERY TRIBUNAL –II CHENNAI Dated this 29th day of December, 2023
PRESENT: SHRI T.RAJESH PRESIDING OFFICER
T.A.No.34 of 2022
(Old OA.No.512/2019–DRT-I, Chennai)
Canara Bank,
IFSC Code CNRB0000948. Rep. by its Senior Manager, Vridhalacham Branch, 122, Bazar street, Cuddalore Dist. – 606 001. … Applicant.
Vs.
Mr.R.Anbalagan, S/o.Rajangam, Sandikarai Street, Agaralampadi, Chidambaram Taluk. … Defendant. Counsel for Applicant : Mr.S.Pandurangan. Defendant : Exparte. …… ORDER
- The above Transfer Application is filed under section 19 of the Recovery
- of Debt and Bankruptcy Act seeking recovery of Rs.50,88,829/- with
further interest from the date of filing of the TA and by allowing the
Issues for consideration
2 issues framed by the court
Whether the applicant succeeded in proving the Transfer Application claim?
What orders should be passed regarding the recovery of the outstanding amount?
Parties & counsel
- applicant
Canara Bank
Coram
T. RAJESH
Case details
As recorded by the court registry
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