Canara Bank v. D Jayakumar
Case brief
What is this about?
The Debt Recovery Tribunal allowed the bank's application for issuance of a Recovery Certificate under Section 19 of the RDB Act, finding the un-rebutted evidence sufficient to prove the claim.
What did the court decide?
Recovery of the principal amount with pendent interest @11.45% from the defendant and by proceeding against hypothecated movables.
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.232 of 2023
(Old OA.No.215/2021-DRT-I, Chennai)
Canara Bank, Vallam Branch, Main Road, Thanjavur. Rep. by its Chief Manager. … Applicant.
Vs.
Mr.D.Jayakumar, S/o.Durairj, Sugar Factory Colony, Kurungulam, Melapathy – 613 303. Thanjavur Taluk. … Defendant. Counsel for Applicant : M/s.Mohamed Shahjahan. Defendant : Exparte.
…… ORDER
- The Application is filed Under Section 19 (1) of the Recovery of Debts
And Bankruptcy Act, 1993 seeking for issuance of a Recovery Certificate for Rs.38,61,057/- due in the credit facility of Micro small Enterprise Loan availed by the defendant.
Issues for consideration
2 issues framed by the court
Whether the applicant had proved the time-limit (TA) claim?
What orders are to be passed?
Parties & counsel
- applicant
Canara Bank
- respondent
Mr.D.Jayakumar
Coram
SHRI T.RAJESH
Case details
As recorded by the court registry
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