Allowed

Canara Bank v. M/s Raaya Leather Exporters

DRT8 Dec 2025OA/166/2022

Case brief

AI extract

What is this about?

The DRT allowed an original application by Canara Bank to recover dues of Rs. 1.03 crore along with interest from Raaya Leather Exporters and proprietor M. Raja. The court confirmed the bank's right to realize the amount through the sale of mortgaged immovable property and hypothecated leather stocks.

What did the court decide?

Recovery of Rs. 1,03,06,191.05 with interest; liberty to recover by sale of Schedule A property and Schedule B hypothecated vehicles.

Canara Bank versus M/s Raaya Leather Exporters — Insolvency and Bankruptcy | DRT (2025)

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O.A. No. 166 of 2022

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08.12.2025

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 08^th day of December, 2025

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Present: SMT. S.V. GOWRAMMA Presiding Officer

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ORIGINAL APPLICATION No. 166 of 2022

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Canara Bank, Kellys Corner Branch, No. 207, Purasawalkam High Road, Chennai – 600 007.

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Rep. by its Chief Manager,

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…. Applicant

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-Vs-

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M/s. Raaya Leather Exporters,

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Rep. by its Proprietor,

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Mr. R. Raja,

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No. 1, First Floor,

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Lala Kutty Street, Periamet,

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Chennai – 600 003.

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Mr. R. Raja,

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S/o. Mr. Ramasamy,

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No. 8/142, Kurinji Nagar,

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Bharathipuram, Nagal Nagar,

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Dindigul. …. Defendants

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Counsels on record / appeared:

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Counsel for Applicant: M/s. S. Kesavan

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Defendants 1 & 2 were set ex-parte on 30.08.2022

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: - FINAL ORDER - :

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This Original Application is filed on 26.04.2022 by the Applicant Bank under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 (formerly Recovery of Debts Due to Banks and Financial Institutions Act,

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against the defendants 1 & 2, jointly and severally for recovery of a

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total sum of Rs. 1,03,06,191.05p (Rupees One Crore Three Lakhs

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Six Thousand One Hundred and Ninety One only) as follows:

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(i) A sum of Rs.83,91,410.97p due in respect of OCC/OD Facility (Account No.0907261010414) repayable together with further interest @ 17.80% p.a. compounded monthly from the date of Application till the date of realization in full;

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(ii) A sum of Rs.16,25,062.91p due in respect of GECL Facility (Account No.0907755000037) repayable together with further interest @ 7.50% p.a. compounded monthly from the date of Application till the date of realization in full;

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(iii) A sum of Rs.2,89,717.17p due in respect of WCTL Facility (Account No.173000088184) repayable together with further interest @ 13.90% p.a. compounded monthly from the date of Application till the date of realization in full;

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for sale of Schedule A mentioned immovable property and Schedule B Hypothecated vehicle and for costs of this Original Application.

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Brief Facts of the case:

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The Applicant submits that the application is filed within the period of limitation as prescribed under Section 24 of the Recovery of Debts and Bankruptcy Act, 1993, and the subject recovery claim falls within the jurisdiction of this Tribunal.

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It is the case of the Applicant Bank that the 2^nd defendant is the proprietor of the 1^st defendant. Out of his good experience in the leather

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business activities he wanted to develop his leather exports business. Accordingly, the 1^st defendant has submitted the SSI registration vide TIN No. 33720525096. Thereafter, he became the constituent of the applicant bank to grant OCC limit to meet the working capital requirements to the extent of Rs. 75 Lakhs in order to improve the leather exports activities. Moreover, the defendant being the proprietor of the 1^st defendant has agreed to submit collateral security, besides prime security such as finished and semi-finished leather items. In this connection, the 1^st defendant has submitted the necessary loan application on 27.09.2013.

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The Applicant submits that taking into consideration of the developments as well as prime and immovable securities, they have issued sanction memorandum on 27.09.2013 with certain terms and conditions and the same has been accepted by the 1^st defendant. As such, the tenability of the said limit was one year. Accordingly, the Applicant agreed to grant OCC limit of Rs. 75 Lakhs. In furtherance of these developments, the 1st defendant submitted necessary request for over draft facilities on 27.09.2013. At the time of availment of the OCC limit of Rs. 75 Lakhs, the following documents have been executed by the defendants to and in favour of the applicant bank on 27.09.2013:

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(i) Cash Credit agreement.

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(ii) Pronote for Rs 75 Lakhs.

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(iii) Particulars of the guarantee

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iv) Guarantee covering letter together with guarantee agreement

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by the 2^nd defendant.

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The Applicant further submits that in view of the maintenance of the running limit, the OCC limit has to be regularized with interest at 12.95% per annum compounded monthly over and above the said rate of interest. As such, the rate of interest charged herein may change from time to time as per the guidelines issued by the RBI and head office circulars. The defendants also specifically undertook to pay the additional interest at the rate of 2% per annum compounded monthly in case of default or nonregularization of the said loan account. Whereas, the finished and semi finished leathers have been treated as prime security in addition to the immovable security offered by the 2^nd defendant. Moreover, the 1^st defendant also submitted letter for waiving the insurance for goods underline to the applicant bank.

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The Applicant further submits that the 2^nd defendant being the absolute and lawful owner of the property bearing Plot No. 19, measuring about 1931 sq. feet, situated in Nagal Nagar, Bharathipuram, Dindigul, which is morefully described in A-Schedule to the OA, had deposited the title deeds with the applicant bank on 26.09 2013 with the an intention to create valid and equitable mortgage and the same has been confirmed under Memorandum of Deposit of Title Deeds dated 07.10.2013 vide document No.4857/2013 in SRO Nagalnaickenpatti, Dindigul. Thus, the aforesaid OCC limit has been secured in favour of the applicant bank.

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The Applicant further submits that in view of the expiry of the aforesaid OCC limit, the 1^st defendant wanted to renew the said limit.

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Based on the request made by the 1^st defendant, the applicant bank issued sanction memorandum on 27.09.2014 with certain terms and conditions and the same has been accepted by the 1^st defendant. Accordingly, the running limit was valid for one year upto 26.09.2015. Moreover, the 1st defendant also agreed to hypothecate the stocks as prime security, besides collateral security. At the time of renewal of the said OCC limit of Rs. 75 Lakhs, the defendants have executed the following documents to and in favour of the applicant bank on 27.09.2014:

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(i) Letter of renewal.

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(ii) Particulars of the guarantee of the 2^nd defendant.

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(iii) Guarantee covering letter together with guarantee agreement

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by the 2^nd defendant

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(iv) Acknowledgement of debt and security.

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Thus, the defendants have specifically agreed to regularize the said limit with interest at 13.20% per annum compounded monthly over and above the said rate of interest. As such, the rate of interest charged herein may change from time to time as per the guidelines issued by the RBI and head office circulars. The defendants also specifically undertook to pay the additional interest at the rate of 2% per annum compounded monthly in case of default or non-regularization of the said loan account. Whereas, the hypothecation of stocks such as finished and semi-finished leathers have been treated as prime security in addition to the immovable

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security offered by the 2^nd defendant. Thus, the loan documents executed by the defendants may be treated as part and parcel of this original application.

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The Applicant further submits that during the course of such business transactions, the OCC limit availed by the 1^st defendant was expired and therefore requested to renew the said limit for further one year period. Taking into consideration of the request as well as based on the existing prime and collateral security, the said limit has been again renewed for 1^st year upto 26.09.2016. As such, necessary sanction memorandum has been issued on 27.09.2015 with certain terms and conditions and the same has been accepted by the 1^st defendant.

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The Applicant further submits that at the time of renewal of the aforesaid limit, the following documents have been executed by the defendants on 27.09.2015:

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(i) Letter of renewal.

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ii) Guarantee covering letter together with guarantee agreement by the 2^nd defendant.

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(iii) Acknowledgement of debt and security.

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Thus, the defendants have specifically agreed to regularize the said limit with interest at 12.65% per annum compounded monthly over and above the said rate of interest. As such, the rate of interest charged herein may change from time to time as per the guidelines issued by the

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RBI and Head Office circulars. The defendants also specifically undertook to pay the additional interest at the rate of 2% per annum compounded monthly in case of default or non-regularization of the said loan account. Whereas, the finished and semi-finished leathers have been treated as prime security in addition to the immovable security offered by the 2^nd defendant.

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The Applicant further submits that based on the availment of the aforesaid OCC limit, the defendants have developed their trading activities in leather goods and thereby they required the limit to be renewed for further period. In this connection, the 1^st defendant submitted necessary loan application on 23.12.2016. Taking into consideration of the existing prime and collateral security, the same has been renewed on execution of the following documents to and in favour of the applicant bank on 23.12.2016:

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(i) Letter of renewal.

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(ii) Offer letter to stand as guarantor by the 2nd defendant (iii) Acknowledgement of debt and security.

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Thus, the defendants have specifically agreed to regularize the said

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limit with interest at 12.60% per annum compounded monthly over and above the said rate of interest. As such, the rate of interest charged herein may change from time to time as per the guidelines issued by the RBI and head office circulars. The defendants also specifically undertook

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to pay the additional interest at the rate of 2% per annum compounded monthly in case of default or non-regularization of the said loan account. Whereas, the finished and semi finished leathers have been treated as prime security in addition to the immovable security offered by the 2^nd defendant.

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The Applicant further submits that in the course of such business activities, the said limit has been expired and thereby the defendants again wanted to renew the same for further period. In this connection, the 1^st defendant submitted necessary loan application on 22.01.2018. Taking into consideration of the existing prime and collateral security, the same has been renewed on execution of the following documents to and in favour of the applicant bank on 22.01.2018:

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(i) Letter of renewal.

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(ii) Offer letter to stand as guarantor by the 2^nd defendant.

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(iii) Acknowledgement of debt and security.

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Thus, the defendants have specifically agreed to regularize the said limit with interest at 10.85% per annum compounded monthly over and above the said rate of interest. As such, the rate of interest charged herein may change from time to time as per the guidelines issued by the RBI and head office circulars. The defendants also specifically undertook to pay the additional interest at the rate of 2% per annum compounded monthly in case of default or non-regularization of the said loan account. Whereas, the finished and semi-finished leathers have been treated as

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prime security in addition to the immovable security offered by them.

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The Applicant further submits that in the course of such business transactions, the OCC limit availed under ODSME scheme (against the hypothecation of stocks and book debts) has been expired and thereby the 1^st defendant required OCC limit to meet the working capital requirements. Thus, based on the request, the applicant bank by their sanction memorandum dated 30.03 2019 agreed to renew the said limit for a sum of Rs.75 Lakhs with certain terms and conditions. Accordingly, the tenability of the said was upto 29.03.2020. At the time of renewal of the aforesaid limit on 30.03.2019, the 1^st defendant executed the letter of renewal and thereby specifically agreed for the terms and conditions referred in the same In view of the maintenance of the running account, the same has to be regularized with interest at 11.45% per annum compounded monthly over and above the said rate of interest. As such, the rate of interest charged herein may change from time to time as per the guidelines issued by the RBI and Head Office circulars. The defendants also specifically undertook to pay the additional interest at the rate of 2% per annum compounded monthly in case of default or nonregularization of the said loan account. Whereas, the finished and semifinished leathers have been treated as prime security in addition to the immovable security offered by them.

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The Applicant further submits that in the course of such business transactions, again the said OCC limit has been expired and thereby the

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1st defendant wanted to renew the same for further period. In this connection, the 1 defendant submitted necessary loan application to the applicant bank on 11.06.2020. Thus, the OCC limit of Rs.75 Lakhs has been sanctioned to meet the working capital requirements with certain terms and conditions. Accordingly the tenability of the said limit was upto 10.06.2021. Thus, the existing prime and collateral security has been extended for such renewal.

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The applicant further submits that at the time of renewal of the OCC limit of Rs.75 Lakhs, the defendants have executed the following documents to and in favour of the applicant bank on 11.06.2020:

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(i) Letter of renewal.

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(ii) Offer letter to stand as guarantor by the 2nd defendant.

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(iii) Acknowledgement of debt and security.

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Thus, the defendants have specifically agreed to regularize the said limit with interest at 11.45% per annum compounded monthly over and above the said rate of interest. As such, the rate of interest charged herein may change from time to time as per the guidelines issued by the RBI and head office circulars. The defendants also specifically undertook to pay the additional interest at the rate of 2% per annum compounded monthly in case of default or non-regularization of the said loan account. Whereas, the stocks and book debts such as finished and semi-finished leathers have been treated as prime security in addition to the immovable security offered by them.

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The Applicant submits that during in the course of such transactions, the defendants were unable to regularize the said OCC limit, due to the lock down announced by the respective Governments in connection with the Covid-19 pandemic. Therefore, the RBI has issued necessary guidelines to meet the emergency situations of the borrowers under Guaranteed Emergency Credit Line (GECL) and directed the entrepreneurs to submit offer letter and undertaking letter to avail the loan of Rs. 15 Lakhs under GECL to meet working capital requirements / improving capital / to meet operating expenses. In this connection, based on the request made by the 1^st defendant, the applicant bank issued necessary sanction on 30.09.2020 with certain terms and conditions. Accordingly, based on the receipt of the offer letter for Guaranteed Emergency Credit Line (GECL) and connected records, the applicant bank granted a loan of Rs.15 Lakhs under the said system in addition to the existing OCC limit. Thus, the applicant bank while at the time of granting a loan of Rs.15 Lakhs under GECL requested, the 2^nd defendant has executed the Supplemental Memorandum of deposit of title deeds relating to the A-Schedule property on 07.10.2020, vide document No. 5275/2020 in SRO, Nagalnaickenpatti.

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It is submitted that at the time of availment of the loan of Rs. 15 Lakhs under GECL, the defendants have executed the pronote and take delivery letter to DPN and agreement cum deed of hypothecation on 13.10.2020 and thereby specifically agreed for the terms and conditions

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referred in the same. Accordingly, the loan amount of Rs 15 Lakhs availed under GECL has to be repaid with interest at 7.50% per annum compounded monthly with 48 months including 12 months holiday period. Thus, the interest to be paid as and when due during moratorium period.

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The Applicant further submits that subsequent to the availment of the OCC limit of Rs. 75 Lakhs as well as availment of the loan amount of Rs. 15 Lakhs under GECL, the defendants could not regularize the said limits as per the terms and conditions of the loan documents due to the intervention of the Covid-19 situation. Therefore, as per the guidelines issued by the RBI, the 1 defendant again submitted necessary application for restructuring on the limits on 17.07 2021. Pursuant to the situations, the further loan amount of Rs. 3,90,000/-was granted under working capital term loan (WCTL) to the 1^st defendant to enable him to raise from the pandemic situation. At the time of availment of the loan of Rs. 3,90,000/- under WCTL, the following documents have been executed by the 1^st defendant on 29.07.2021:

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(i) Undertaking letter.

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(ii) Debt restructuring agreement.

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(iii) Debtor creditor agreement.

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As such, the 1^st defendant had specifically agreed for the terms and conditions referred in the same. As per the term and conditions of the loan documents, the said loan amount has to be repaid with interest at 13.90% per annum compounded monthly in 24 monthly instalments with

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Nil holiday period.

The Applicant further submits that subsequent to the availment of the aforesaid limits as stated above, the defendants unable to regularize the said limits, in accordance with the terms and conditions of the loan documents despite the helping hand extended by the applicant bank on various occasion. Thus, from June 2021 onwards, the operation and conduct of the said financial assistance became irregular and the defendants failed to keep up their commitments in terms and conditions of the loan documents. As such, the defendants failed and neglected to regularize the said limits and thereby the said loan accounts became NonPerforming Asset (NPA) as on 30.10.2021 in accordance with RBI guidelines.

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Having noticed the attitude of the defendants in prolonging the

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issues, the applicant bank has no other option except to proceed on the secured property in order to realize the entire liability under the said limits. In this connection, the applicant bank issued notice under Sec 13(2) of the SARFAESI Act on 03.11.2021 and thereby invited the attention of the defendants to settle the entire liability under the said limits within 60 days from the date of receipt of this notice. Although the defendants received the same did not come forward to settle the same within the stipulated time. Therefore, the applicant bank had proceeded further and issued Possession Notice to the defendants on 11.01.2022 and took symbolic possession of the A-Schedule property. Thus, the

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entire attempt made by the defendants to recover the entire liability from the defendants ended in vain. Hence, the present Original Application (OA) has been filed by the applicant bank for recovery of its dues from the defendants.

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After the filing of the OA, summons were sent to the Defendants 1 & 2 through Registered Post with Acknowledgment Due, which returned unserved with postal endorsement as ‘door locked, left’ in respect of D-1, while summons to D-2 is duly served. When OA was taken up on 30.08.2022 even after giving sufficient time, there was no appearance or representation from the defendants. Hence, the defendants 1 & 2 were placed ex-parte on 30.08.2022.

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Heard the submissions of Applicant Bank and perused the records.

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To prove the case of the Applicant Bank, Sh. S. Dineshkumar, Manager of the Applicant Bank, has filed his Affidavit by way of evidence and same was considered as evidence of AW-1 and list of documents came to be marked as Ex. A-1 to A-50 . As the Defendants remained ex-parte, the OA claim remains unchallenged. There is no contra evidence available on record to repudiate the claim of the Applicant Bank.

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With regard to the amount advanced, the interest applied, the conduct and operations in the account and the default committed, this Tribunal comes to the conclusion that the applicant bank is entitled for a final order on the following terms:

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: O R D E R :

The OA is allowed with costs,

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(a) The applicant bank is allowed to recover from the defendants

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for recovery of a total sum of Rs. 1,03,06,191.05p (Rupees One

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Crore Three Lakhs Six Thousand One Hundred and Ninety One only) as follows:

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(i) A sum of Rs.83,91,410.97p due in respect of OCC/OD Facility (Account No.0907261010414) repayable together with further interest @ 17.80% p.a. compounded monthly from the date of Application till the date of realization in full;

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(iii) A sum of Rs.2,89,717.17p due in respect of WCTL

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Facility (Account No.173000088184) repayable together with further interest @ 13.90% p.a. compounded monthly from the date of Application till the date of realization in full; along with costs of this application.

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(b) In the event of failure of the Defendants to pay the aforesaid

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amount, the bank is at liberty to recover the amount by sale of the Schedule A mentioned immovable property and Schedule B mentioned hypotheca morefully detailed in the OA schedule.

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hypotheca shall be appended to this final order.

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(d) The applicant bank shall file the latest memo of calculation of

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OA amount together with interest, costs etc., to be paid by the Defendants duly considering the amounts, if any, paid by the Defendant and/or amount realized by sale of assets etc., during the intervening period after the filing of the OA, enabling the Registry to prepare Recovery Certificate for the amount to be paid by Defendants to the applicant bank.

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(f) The applicant bank shall file memo of costs within ten days

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from the date of receipt of this final order.

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(g) Recovery Certificate shall be drawn up and issued to the Recovery Officer in terms of the final order.

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A copy of this order be communicated to the parties concerned.

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Sd/(S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI

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(Dictated to PS, transcribed by her, corrected, signed and pronounced by me on this the 08^th

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day of December, 2025)

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ANNEXURES

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WITNESSES EXAMINED FOR THE APPLICANT BANK :

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AW-1: Sh. S. Dineshkumar, Manager representing the Applicant Bank

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Exhibits on the part of the Applicant:

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Sl. No.	Date	Description of Documents	Exhibit No.
1.	27.09.2013	Application form for loans by the 1^st	A-1

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		defendant.
2.	27.09.2013	^{Sanction memorandum issued by the} applicant bank.	A-2
3.	27.09.2013	^{Request for over draft facilities by the 1st} defendant.	A-3
4.	27.09.2013	^Cash credit agreement by the 1^st defendant.	A-4
5.	27.09.2013	Pronote for Rs.75 Lakhs.	A-5
6.	27.09.2013	^Particulars of the guarantor (2^nd defendant)	A-6
		Guarantee covering letter together with
7.	27.09.2013	guarantee agreement by the 2^nd defendant.	A-7
8.	27.09.2013	^{Letter of request for waiving insurance by} the 1^stdefendant.	A-8
		Memorandum of deposit of title deeds, executed by the 2^nddefendant to and in
9.	07.10.2013	favour of the applicant bank, vide document No.4857/2013 in SRO Nagalnaickenpatti, Dindigul.	A-9
10.	21.09.1994	Sale deed executed in favour of the 2^nd defendant, vide document No.1962/1994 in SRO Nagalnaickenpatti, Dindigul, together with English translation.	A-10
11.	27.09.2014	^{Sanction memorandum issued by the} applicant bank.	A-11
12.	27.09.2014	Letter of renewal by the 1^stdefendant.	A-12
13.	27.09.2014	^Particulars of the guarantor (2^nd defendant).	A-13
14.	27.09.2014	Guarantee covering letter together with guarantee agreement by the 2^nd defendant.	A-14
15.	27.09.2014	^{Acknowledgement of debt and security by} the 1^stdefendant.	A-15
16.	27.09.2015	^{Sanction memorandum issued by the} applicant bank.	A-16
17.	27.09.2015	Letter of renewal by the 1^stdefendant.	A-17
18.	27.09.2015	^{Guarantee covering letter together with} guarantee agreement by the 2^nd	A-18

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		defendant.
19.	27.09.2015	^{Acknowledgement of debt and security by} the 1^stdefendant.	A-19
20.	23.12.2016	Application form by the 1^stdefendant.	A-20
21.	23.12.2016	Letter of renewal by the 1^stdefendant.	A-21
22.	23.12.2016	^Particulars of the guarantee (2^nd defendant)	A-22
23.	23.12.2016	^{Acknowledgement of debt and security by} the 1^stdefendant.	A-23
24.	22.01.2018	Loan application by the 1^stdefendant.	A-24
25.	22.01.2018	Letter of renewal by the 1^stdefendant.	A-25
26.	22.01.2018	^Particulars of the guarantee (2^nd defendant)	A-26
27.	22.01.2018	^{Acknowledgement of debt and security by} the 1^stdefendant.	A-27
28.	30.03.2019	^{Sanction letter issued by the applicant} bank.	A-28
29.	30.03.2019	Letter of renewal by the 1^stdefendant.	A-29
30.	11.06.2020	Application form by the 1^stdefendant.	A-30
31.	11.06.2020	^{Sanction letter issued by the applicant} bank.	A-31
32.	11.06.2020	Letter of renewal by the 1^stdefendant.	A-32
33.	11.06.2020	^Particulars of the guarantee (2^nd defendant)	A-33
34.	11.06.2020	Acknowledgement of debt and security by the 1^stdefendant.	A-34
35.	30.09.2020	Offer letter for GECL by the 1^stdefendant.	A-35
36.	30.09.2020	Pre-approval loan facility form under Appendix-I by the 1^stdefendant.	A-36
37.	---	Undertaking letter by the 1^stdefendant.	A-37
38.	30.09.2020	Sanction letter under WCTL issued by the applicant bank.	A-38
39.	07.10.2020	Supplemental memorandum relating to deposit of title deeds executed by the 1^st defendant to and in favour of the applicant bank, vide document No.5275/2020 in SRO Nagalnaickenpatti, Dindigul.	A-39

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40.	13.10.2020	Pronote and take delivery letter to DPN for Rs.15,00,000/- by the 1^stdefendant.	A-40
41.	13.10.2020	Agreement cum deed of hypothecation by the 1^stdefendant.	A-41
42.	17.07.2021	Application for restructuring under RBI guidelines by the 1^stdefendant.	A-42
43.	29.07.2021	Draft letter of undertaking by the 1^st defendant.	A-43
44.	29.07.2021	^{Debt restructuring agreement by the 1st} defendant.	A-44
45.	29.07.2021	^{Debtor creditor agreement by the 1st} defendant.	A-45
46.	03.11.2021	Demand notice under Sec.13(2) of the SARFAESI Act issued by the applicant to the defendants.	A-46
47.	11.01.2022	^{Possession notice issued by the applicant} to the defendants.	A-47
48.	26.04.2022	Statement of Account in respect of OCC LIMIT together with enclosures.	A-48
49.	26.04.2022	Statement of Account in respect of GECL together with enclosures.	A-49
50.	26.04.2022	Statement of Account in respect of WCTL together with enclosures.	A-50

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Witness Examined for the Defendants

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: -Nil-

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List of Documents Exhibited for the Defendants : -Nil –

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SCHEDULE-A

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(Belongs to Mr. R. Raja – 2^nd defendant)

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(EMT as per the Memorandum of Deposit of Title Deeds dated 07.10.2013, vide document No. 4857/2013 and Supplemental Memorandum of Deposit of Title Deed dated 07.10.2020, vide document No. 5275/2020 respectively in SRO, Nagalnaickenpatti, Dindigul

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(As per the Sale deed dated 21.09.1994 vide Doc. No. 1962/1994 in SRO, Nagalnaickenpatti, Dindigul):

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O.A. No. 166 of 2022

¶192

¶193

08.12.2025

¶194

All that piece and parcel of the property bearing Plot No. 19, measuring about 1931¼ Sq.feet situated at Nagal Nagar, Bharathipuram, Ward No. 6, Dindigul Town, Dindigul District, Dindigul, comprised in T.S. No. 6B/1, 2, 3 situated within the Registration District of Dindigul and Sub-Registrar Office at Nagalnaickenpatti and bound on the

¶195

North by : Plot belongs to Krishnan in T.S. No. 6B/1, 2, 3 South by : East-West Road in T.S. No. 6B/1, 2, 3 East by : Plot belongs to Thangamani in T.S. No. 6B/1, 2, 3 West by : Plot belongs to Neelakandan in T.S. No. 6B/1, 2, 3

¶196

Extent of land:

¶197

East-West on the Northern side : 30 Feet East-West on the Southern side : 30 Feet South-North on the Eastern side : 63¾ Feet South-North on the Western side : 65 Feet

¶198

Totally measuring 1931¼ Sq. feet

¶199

SCHEDULE-B

¶200

(Belongs to the 1^st defendant)

¶201

Hypothecation of finished and semi-finished stocks of leather items, lying at No.1, First Floor, Lala Kutty Street, Periamet, Chennai – 600 003 and also at No. 2/5, First Floor, M.V. Badran Street, Periamet, Chennai – 600 003.

¶202

Sd/- (S.V. GOWRAMMA) PRESIDING OFFICER, DRT-III, CHENNAI

Canara Bank v. M/s Raaya Leather Exporters

Case brief

What is this about?

What did the court decide?

Canara Bank v. M/s Raaya Leather Exporters

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

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Coram

Case details

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