Canara Bank v. U. Rajesh
Case brief
What is this about?
This tribunal allowed an applicant bank's application under the RDB Act for a recovery certificate against borrowers who defaulted on agricultural term loans and an overdraft, permitting realization of dues plus 11% interest.
What did the court decide?
Recovery certificate issued permitting realization of Rs.25,57,510/ and interest at 11% p.a. from defendants jointly and severally via sale of properties.
What the court decided
BEFORE THE DEBTS RECOVERY TRIBUNAL –II AT CHENNAI
Dated this 22nd day of September, 2023
PRESENT: SHRI T. RAJESH
PRESIDING OFFICER
TA No.434 of 2022
(Originally filed before DRT-III Chennai as OA No.164 of 2019 and
thereafter transferred to this Tribunal and renumbered as TA No.434 of 2022)
Canara Bank (Erstwhile Syndicate Bank) Chidambaram Branch Represented by its Deputy Regional Manager Regional Office II, Chennai No.2/13, 2nd Floor, Gurumisri Complex Kamarajar Street, Tambaram West Chennai – 600 045
…Applicant
Versus
- U. Rajesh S/o Mr. Uthirapathi 1/7A, Main Road, Madhanam P.O Sirkzhi Taluk – 609 104 Nagapattinam District
Issues for consideration
2 issues framed by the court
Whether the applicant had succeeded in proving the liability of the defendants?
What order as to cost of the proceedings need be passed?
Parties & counsel
- applicant
Canara Bank (Erstwhile Syndicate Bank)
- respondent
U. Rajesh
- respondent
Mr. S. Ravi
Coram
Case details
As recorded by the court registry
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