Canara Bank v. Narayan
Case brief
What is this about?
The Debts Recovery Tribunal at Pune allowed the applicant bank's application for recovery of dues from defendants. The court reduced the claimed future interest rate to 9% per annum and secured the award against mortgaged agricultural land.
What did the court decide?
Defendants to pay principal sums with future interest at 9% p.a.; mortgaged land is affirmed as security; applicant entitled to sell property to recover dues; Recovery Certificate issued.
What the court decided
Presented on .. 14.10.2022 Registered on .. 04.11.2023 Decided on .. 06.10.2025 Duration .. Y—M—D 02--11--22
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 1472/2023.
Canara Bank,
A Body Corporate constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act 1970 having its head office at 112 JC Road, Bangalore and branch office at Bhigwan Road, Baramati, Taluka Baramati, District Pune 413 102.
… Applicant
Versus
- 1 Shri Narayan Pandharinath Jadhav, Age Adult, Occ. Agriculture, R/at – Gojubavi, Taluka Baramati, District Pune 413 102.
- 2 Shri Deepak Narayan Jadhav, Age Adult, Occ. Agriculture, R/at – Gojubavi, Taluka Baramati, District Pune 413 102.
- 3 Shri Bapu Eknath Atole, Age Adult, Occ. Agriculture, R/at – Gojubavi, Taluka Baramati, District Pune 413 102. … Defendants
Sanap ( OA No. 1472/2023 ) 1 of 7
Issues for consideration
3 issues framed by the court
Whether to grant recovery for outstanding banking dues under the mechanism of a recovery application.
What is the appropriate rate for future interest to be awarded on the claim amount.
Whether the mortgaged land serves as security for the adjudicated amount.
Parties & counsel
- applicant
Canara Bank
Coram
Dilip G. Murumkar
Case details
As recorded by the court registry
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