Idbi Bank v. Sangeetha
Case brief
What is this about?
DRT allowed TA filed by bank for recovery of legal dues from defendant who defaulted on demand loan. Court held evidence unrebutted due to lack of contra material, confirmed outstanding amount, and awarded principal with future interest and recovery cost.
What did the court decide?
Recovery of Rs.31,25,657/- with future and pendentelite interest at 12.65% p.a. from date of filing till realization, and issue of Recovery Certificate.
What the court decided
IN THE DEBTS RECOVERY TRIBUNAL-II AT CHENNAI Dated this 20th day of February, 2024
PRESENT: SHRI T.RAJESH PRESIDING OFFICER
TA No.47 of 2023
(Old OA No.719/2019-DRT-I, Chennai)
IDBI Bank Limited, Cuddalore Branch, 14-B, Bethal Towers, Pondy Main Road, Alpet, Cuddalore – 607 001. Represented by its Authorized Officer. … Applicant.
Vs.
Mrs.M.Sangeetha, W/o.Mr.Manigandan, No.143, East Street, Samattikuppam, Kurinjipadi Tk., Cuddalore - 607 103. … Defendant Counsel for Applicant : M/s. E.Vijayaraghavan. Counsel for Defendants : M/s. R.Rajesh Vivekanandhan.
ORDER
- The above Original Application is filed under section 19 of the Recovery
of Debts and Bankruptcy Act seeking recovery of Rs.31,25,657/- with
1
Issues for consideration
3 issues framed by the court
Whether the applicant succeeded in proving the truth of theTA claims?
Whether the claim is within the period of limitation?
Whether the rate of interest and capitalization of penal interest are acceptable?
Parties & counsel
- applicant
IDBI Bank Limited
Coram
T. RAJESH
Case details
As recorded by the court registry
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