Bank of India v. Kalaichelvi
Case brief
What is this about?
DRT allowed the applicant bank's application for recovery of outstanding loan dues along with interest and costs, permitting realization from the defendant's assets and personal liability. Interest rate reduced to 10% simple.
What did the court decide?
Recovery of Rs.34,08,939/- plus future interest at 10% simple; costs; sale of scheduled properties; personal liability if proceeds insufficient.
What the court decided
BEFORE THE DEBTS RECOVERY TRIBUNAL –II AT CHENNAI
Dated this 25th day of March, 2024
PRESENT: SHRI T. RAJESH
PRESIDING OFFICER
TA No.640 of 2023
(Originally filed before DRT-I Chennai as OA No.363 of 2020 and thereafter transferred to this Tribunal and renumbered as TA No.640 of 2023)
Bank of India Rep. by its Constituted Attorney Having Branch Office at 3/5, New Katpadi Road Vellore – 632 004 …Applicant
Versus
Smt. Kalaichelvi W/o Mr. A. Krishnan 4/28, Navlar Street Kadapperi Walajah Taluk Vellore – 632 508 …Defendant
Counsel for the Applicant Bank : Mr. B. Deepak Narayanan Defendant : Ex- parte
FINAL ORDER
- This application is filed by the applicant bank under Section 19(1) of Recovery of Debts and Bankruptcy Act, 1993 against the defendant for recovery of a sum of Rs.34,08,939/- together with interest at the rate of 12.30% per annum with monthly rests from the date of filing of the OA till the date of realization in full along with costs of this application and for sale of schedule mentioned properties.
Issues for consideration
2 issues framed by the court
Whether the applicant had succeeded in proving the OA claim as against the defendant?
What orders are to be passed?
Parties & counsel
- applicant
Bank of India Rep. by its Constituted Attorney
Coram
T. RAJESH
Case details
As recorded by the court registry
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