Bank of India v. v. Kavitha
Case brief
What is this about?
The Tribunal allowed the Recovery Certificate application against two farmers and their guarantor. It held the sugar factory liable based on assurances regarding cane proceeds, ruling it liable for the claim. Interest was reduced to 10% p.a. simple for agricultural loans.
What did the court decide?
Recovery Certificate for Rs. 13,08,388 along with interest at 10% p.a. simple, costs, and personal liability of defendants 1 and 2 if sale proceeds are insufficient.
What the court decided
BEFORE THE DEBTS RECOVERY TRIBUNAL –II AT CHENNAI
Dated this 30th day of November, 2023
PRESENT: SHRI T. RAJESH
PRESIDING OFFICER
TA No.792 of 2023
(Originally filed before DRT-III Chennai as OA No.167 of 2013 and transferred to DRT-I, Chennai and renumbered as TA No.34 of 2018 and thereafter transferred to
this Tribunal and renumbered as TA No.792 of 2023)
Bank of India Rep. by its Chief Manager Madurai Main Branch, T.S. No.9954 Alangudi Road. Pudukottai District – 622 001 …Applicant
Versus
- V. Kavitha W/o Vellaisamy Sondampatti, Killianur Post Kulathur Taluk, Pudukottai District – 622 203
- N. Vellaisamy S/o Natarajan Sondampatti, Killianur Post Kulathur Taluk, Pudukottai District – 622 203
Issues for consideration
2 issues framed by the court
Whether the applicant bank succeeded in proving the liability of the defendants including the third defendant sugar factory?
What order shall be passed regarding pendent lite and future interest and costs of the proceedings?
Parties & counsel
- applicant
Bank of India Rep. by its Chief Manager Madurai Main Branch
- respondent
V. Kavitha W/o Vellaisamy Sondampatti
- respondent
N. Vellaisamy S/o Natarajan Sondampatti
- respondent
E.I.D. Parry (India) Limited Sugar Factory
Coram
Case details
As recorded by the court registry
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