Canara Bank v. K Madhu
Case brief
What is this about?
Debt Recovery Tribunal allowed the bank's recovery certificate application. The court found the claim of Rs. 63.29 lakh irrefutable due to the defendants' default and absence. The order grants recovery at a reduced 6% simple interest rate against secured and unsecured assets.
What did the court decide?
Recovery Certificate for Rs. 63,29,090 plus 6% simple interest allowed against schedule property and joint and several liability of defendants.
What the court decided
IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA AT BENGALURU
Dated this 25th Day of July, 2025
Present: Sri. T. RAJESH Presiding Officer
OA. No.1272/2022
BETWEEN:
Canara Bank Nanjangudu Branch, Priya Complex, M.G. Road, Nanjangudu, Mysore District-571301 Rep. by its Sr. Manager & PA Holder Smt. Ashish Shukla
… APPLICANT
AND:
- Sri. Madhu K Aged about 45 years S/o. Sri. Krishnamurthy P
- Smt. T. Shanthalakshmi Aged about 66 years W/o. Sri. Krishnamurthy P
Both are residing at #840, Maheshwari Nilaya, ‘A’ Block, 2nd Main, 3rd Stage, Dattahalli District - 570023 ...DEFENDANTS
Issues for consideration
2 issues framed by the court
Whether the applicant had succeeded in proving the OA claim as against the defendants?
What order are to be passed?
Parties & counsel
- applicant
Canara Bank Nanjangudu Branch
- respondent
Sri. Madhu K
- respondent
Smt. T. Shanthalakshmi
Coram
Case details
As recorded by the court registry
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