The Tribunal allowed the application for issuance of a Recovery Certificate. The applicant proved its claim for Rs. 59 lakhs via un-rebutted evidence. The certificate is issued for jointly and severally recoverable amount with future interest.
Recovery Certificate issued for Rs. 59,86,791.62 with future interest @8% simple P.A.; costs allowed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
BEFORE THE DEBTS RECOVERY TRIBUNAL –II AT CHENNAI
Dated this 26th day of March, 2024
PRESENT: SHRI T. RAJESH
PRESIDING OFFICER
TA No.605 of 2023
(Originally filed before DRT-I Chennai as OA No.274 of 2021 and thereafter transferred
to this Tribunal and renumbered as TA No.605 of 2023)
Canara Bank Rep. by its Senior Manager Karaikadu Branch, Virudhachalam Road, Kannarapettai Cuddalore District … Applicant
Versus
Counsel for the Applicant Bank : M/s K. Anbarasan Counsel for Defendants : Ex-parte
FINAL ORDER
1
Ninety One and Sixty Two paisa only) due in Credit Facility availed by the defendants.
2
(ii) What orders are to be passed?
Both these issues are decided together.
(a) TA No.605 of 2023 stands allowed.
(b) Applicant is permitted to recover an amount of Rs.59,86,791.62p (Rupees Fifty Nine Lakhs Eighty Six Thousand Seven Hundred Ninety One and Sixty Two paisa only) with future and pendente lite interest @ 8% simple P.A from the date of filing of the OA/TA till realization, after giving credit to all the amount recovered and received during the pendency of the OA/TA, from the defendants jointly and severally and also personally against defendants 2 and 3 and also by proceedings against their assets.
I A Recovery Certificate is to be drawn and issued to the recovery Officer to enable recovery of the as per the above terms.
3
(d) Applicant is allowed to realize cost of the proceeding for which cost memo is to be filed in 7 days’ time from the date of receipt of the copy of the order.
19(21)(i) of the RDB Act, read with Rule 6 of DRT (Procedure) Rules, 1993.
(Dictated to PS, transcribed by him, corrected, signed and pronounced by me in the Open court, this the 26th day of March, 2024)
Sd/- (T.RAJESH) PRESIDING OFFICER DRT-II, CHENNAI
4
2 issues framed by the court
Whether the Applicant had proved the TA claim?
What orders are to be passed for realization of the recovered amount and interest?
2 provisions across 1 enactments
Canara Bank Rep. by its Senior Manager Karaikadu Branch
M/s. Ayyappan Traders Rep. by its Proprietor Ayyappan
Ayyappan S/o. Ramalingam
J Senthil Murugan S/o. Jeyaraman
T. RAJESH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
