Indian Bank v. Rajapandi
Case brief
What is this about?
The Debts Recovery Tribunal allowed the bank's original application for recovery of dues. The court validated the claim for home and term loans, adjusted the proceeds from a prior property sale, and directed the recovery of the balance amount with interest and costs.
What did the court decide?
Recovery of Rs. 46,37,708/- with interest, costs, and direction to file memo for recovery certificate.
What the court decided
O.A. No. 212 of 2022
23.07.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 23rd day of July, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
ORIGINAL APPLICATION No. 212 of 2022
Indian Bank,
Anakaputhur Branch, No.72, Kamarajar Salai, Anakaputhur, Chennai -600 070. ….Applicant
-Vs-
- Mr. P. Rajapandi, S/o. Mr. Paramasivam,
- No.50, Rajiv Gandhi Nagar, Ambedkar Street, Old Pallavaram, Chennai -600 117.
Issues for consideration
2 issues framed by the court
Whether the Tribunal is entitled to grant a final order for recovery of dues despite the non-appearance of the defendants.
How to adjust the amount realized from the sale of immovable property under the SARFAESI Act against the outstanding debt.
Parties & counsel
- applicant
Indian Bank, Anakaputhur Branch
- respondent
P. Rajapandi
- respondent
P. Nageswari
Coram
Case details
As recorded by the court registry
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