Canara Bank v. Ragini
Case brief
What is this about?
The Tribunal allowed an application for issuance of a Recovery Certificate for a KCC loan default. Evidence of debt was held sufficient. Future interest fixed at 9% p.a. for agriculture purpose. Liability of heirs limited to estate.
What did the court decide?
Issuance of Recovery Certificate for Rs. 1,71,78,039.43 plus future and pendentelite interest at 9% p.a. (simple) until realization.
What the court decided
IN THE DEBT RECOVERY TRIBUNAL –II CHENNAI Dated this 2nd day of February, 2024
PRESENT: SHRI T.RAJESH PRESIDING OFFICER
T.A.No.209 of 2023
(Old OA.No.16/2021–DRT-I, Chennai)
Canara Bank, IFSC – CNRB0001231, Vallam Branch, Represented by its Senior Manager, No.176/1A, Tanjore – Trichy Main Road, Vallam – 613 403. Tanjavur District.
… Applicant.
Vs.
- Mrs.S.Ragini, W/o.Mr.Shri M.Sivasamy, No.356, Mettupatti Kallar Street, Kurungluam West, Thanjavur – 613 303. Thanjavur District.
- Mrs.S.Kavitha, D/o.Shri M.Sivasamy, No.356, Mettupatti Kallar Street, Kurungluam West, Thanjavur – 613 303. Thanjavur District.
- Mr.S.Honest Raj, S/o.Shri M.Sivasamy, No.356, Mettupatti Kallar Street, Kurungluam West, Thanjavur – 613 303. Thanjavur District.
1
Issues for consideration
2 issues framed by the court
Whether the applicant had proved the traffic in assets claim or tail claim?
What orders are to be passed regarding the recovery of the amount due?
Parties & counsel
- applicant
Canara Bank
- respondent
Mrs. S. Ragini
- respondent
Mrs. S. Kavitha
- respondent
Mr. S. Honest Raj
- respondent
Ms. Ilavarasi
- respondent
Case details
As recorded by the court registry
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