Canara Bank v. Raja K
Case brief
What is this about?
The Tribunal allowed a transfer application filed by Canara Bank to recover an outstanding debt of Rs.15,04,837/– along with future interest from two defendants who availed a tractor loan facility but defaulted on payments.
What did the court decide?
Recovery of Rs.15,04,837/- with future and pendentelite interest at 9% p.a. is permitted, along with issuance of a Recovery Certificate and allowance of process costs.
What the court decided
IN THE DEBT RECOVERY TRIBUNAL –II CHENNAI Dated this 30th day of November, 2023
PRESENT: SHRI T.RAJESH PRESIDING OFFICER
TA.No.567 OF 2022
(Old TA.No.239/2019–DRT-I, Chennai) (Old OA.No.208/2018-DRT-III, Chennai)
CANARA BANK Registered Office at No.112, JC Road, Bangalore-560002 Having one of the branch Office at, Tirupatur Town, Vellore District. Rep.by its authorized signatory Mr.K.Saikumar.
… APPLICANT.
V/s
- K.Raja, S/o. C.Krishnan, A.K.Mottur Village, Jammanpudur Post, Tirupattur Taluk, Vellore District.
- K.Velu, S/o. C.Krishnan, A.K.Mottur Village, Jammanpudur Post, Tirupattur Taluk, Vellore District.
...DEFENDANTS.
Counsel for Applicant : M/s.Orbit Law Services. Counsel for Defendants : M/s.S.Murugavel.
Issues for consideration
2 issues framed by the court
Whether the applicant succeeded in proving the outstanding debt owed by the defendants?
What orders are to be passed regarding the recovery of the debt?
Parties & counsel
- applicant
CANARA BANK
- respondent
K.Raja
- respondent
K.Velu
Coram
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court