Karur Vysya Bank v. Aruldoss
Case brief
What is this about?
The Tribunal allowed the application for a Recovery Certificate. The claim was proved as un-rebutted. However, due to high interest rates, recovery was permitted at a lower simple interest rate of 8% pending litigation.
What did the court decide?
Recovery Certificate issued for Rs.14,75,947.27 with future and pending interest @ 8% jointly, severally and personally.
What the court decided
BEFORE THE DEBTS RECOVERY TRIBUNAL –II AT CHENNAI
Dated this 27th day of March, 2024
PRESENT: SHRI T. RAJESH
PRESIDING OFFICER
TA No.511 of 2023
(Originally filed before DRT-I Chennai as OA No.411 of 2019 and thereafter transferred to this Tribunal and renumbered as TA No.511 of 2023)
M/s The Karur Vysya Bank Ltd Shree Bhavan, T S No. 5504/05 Marthandapuram, 1st street Pudukottai-622001 Rep. by its Senior Manager ….Applicant
Versus
- Mr. R .Aruldoss S/o. Mr. Rayappan No.11/18, Adidravirdar Street Virachilai, Thirumayam Pudukottai-622412
- Mr. K. Senthilkumar S/o Karuppaiah N/o. 8/19, Teradi Street, Virachilai, Thirumayam Pudukottai-622412
- Mr. S. Pandian S/o.Mr. Sambanathan No.7/72A, Madhakoil Street Virachilai, Thirumayam Pudukottai-622412
Issues for consideration
2 issues framed by the court
Whether the Applicant had proved the TA claim?
What orders are to be passed regarding recovery of the claimed amount?
Parties & counsel
- applicant
M/s The Karur Vysya Bank Ltd
- respondent
Mr. R .Aruldoss
- respondent
Mr. K. Senthilkumar
Coram
Case details
As recorded by the court registry
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