Canara Bank v. Mr J Arul
Case brief
What is this about?
Debtor Recovery Tribunal allowed an application filed under the RDB Act for issuance of a recovery certificate. The court found the applicant's evidence un-rebutted and the claim valid, directing recovery of the principal and interest.
What did the court decide?
Issuance of Recovery Certificate. Recovery of Rs.44,54,524.92 with interest @11% p.a. from defendant personally and assets.
What the court decided
IN THE DEBT RECOVERY TRIBUNAL –II CHENNAI
Dated this 22nd day of March, 2024
PRESENT: SHRI T.RAJESH PRESIDING OFFICER
TA.No.907 of 2023
(Old OA.No.99/2019 - DRT-I, Chennai)
Canara Bank, Arakkonam Branch, Represented by its Chief Manager, No.14, Tirumalai Achari Street, Arakkonam, Vellore District – 631 001. … Applicant.
Vs.
Mr.J.Arul, S/o.Mr.James, No.33/B, Bajani Koil Street, Arumbakkam Village, Nagavedu Post, Arakkonam Taluk, Vellore District. … Defendant. Counsel for Applicant : M/s.M.Muthukumaran. Counsel for Defendant : M/s.G.Jeremiah.
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.44,54,524.92 due in various loans availed by the defendant.
- The Applicant contends that the defendant availed Minor Irrigation Loan of Rs.3,00,000/-, Two Kisan Credit Card Scheme (KCCS) limits
Issues for consideration
1 issue framed by the court
Whether the applicant had proved the tale ary claim?
Parties & counsel
- applicant
Canara Bank, Arakkonam Branch
Coram
T. RAJESH
Case details
As recorded by the court registry
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