Canara Bank v. Anand
Case brief
What is this about?
The Debts Recovery Tribunal allowed Canara Bank's Original Application for recovery of Rs.64,69,093 against two agriculturist defendants who failed to appear. The court directed payment of the principal sum with reduced future interest at 9% p.a., enforced via mortgage and recovery certificate.
What did the court decide?
Recovery of Rs.64,69,093 plus future interest at 9% p.a. from the date of application, enforceable by sale of mortgaged property and issuance of Recovery Certificate.
What the court decided
Presented on: 25.04.2022 Registered on: 06.08.2022 Decided on: 24.07.2024 Duration: Y M D 02 02 29
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.699/2022.
CANARA BANK ,
A Body corporate constituted under the Banking Companies Acquisition and Transfer of Undertakings Act, 1970 having its Head Office 112 JC Road, Bangalore, Karnataka-560001 and having one of its branches amongst other places at Chatti Galli Branch, Solapur.
… Applicant
Versus
1. Mr. Anand Venkatrao Patil
Age Adult,, Ocup: Agriculturist,
2. Mr. Mahesh Venkatrao Patil
Age: Adult, Ocup. Agriculturist, Both R/at Post Doddi, Taluka South Solapur, District- Solapur-413 008.
… Defendants
Issues for consideration
1 issue framed by the court
Whether the Term Loan account classified as Non-Performing Asset warrants recovery of principal amount with future interest.
Parties & counsel
- applicant
Canara Bank
- respondent
Mr. Anand Venkatrao Patil
- respondent
Mr. Mahesh Venkatrao Patil
Coram
Case details
As recorded by the court registry
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