Canara Bank v. B Ayyachamy
Case brief
What is this about?
The Debt Recovery Tribunal Allowed an Original Application filed by Canara Bank to recover Rs.26,57,121.68 along with interest from three respondents who failed to service their education loan, directing the bank to file a cost memo.
What did the court decide?
Respondents directed to pay Rs.26,57,121.68 with interest at 13.5% p.a. and costs within one month; Recovery Certificate to be issued.
What the court decided
OA No. 216/2022
Fair Order
IN THE DEBTS RECOVERY TRIBUNAL AT MADURAI DATED THIS 16TH DAY OF SEPTEMBER, 2025 PRESENT: SEEMA SINHA,
[PR. DISTRICT & SESSIONS JUDGE – Retd] PRESIDING OFFICER
OA No.216/2022
Between
Canara Bank, Kalingapatti Branch, Sangarappa Naidu Bhavanam, Kalingapatti Village, Tenkasi – 627 719 Rep. By its Branch Manager. ---Applicant Bank
And
- Mr. B. Ayyachamy,
- S/o S. Balamurugan,
- No.30, Kaliamman Kovil Street,
- Thiruvengadam,
Issues for consideration
2 issues framed by the court
Whether the Applicant Bank proved its claim for loan recovery in the absence of any representation from the Defendants.
Whether the outstanding education loan amount, interest, and costs be directed to be recovered from the respondents.
Parties & counsel
- applicant
Canara Bank, Kalingapatti Branch
- respondent
B. Ayyachamy
- respondent
S. Balamurugan
- respondent
J. Balamurugan
Coram
Case details
As recorded by the court registry
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