Canara Bank v. S Ruban
Case brief
What is this about?
This original application filed by Canara Bank for recovery of a housing loan under PMAY scheme was allowed ex-parte against the two defendants for a total sum of Rs.23,83,141.17 along with future interest, acknowledging a partial satisfaction of Rs.7,36,666 via asset sale.
What did the court decide?
Recovery of Rs.23,83,141.17 plus interest at 7.45% p.a. with monthly rests from the date of filing till realization.
What the court decided
O.A. No. 296 of 2022
19.09.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 19th day of September, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
ORIGINAL APPLICATION No. 296 of 2022
Canara Bank,
Specialized Digital Banking Branch (CANDI), No.67, Velachery Main Road, Velachery, Chennai-600 042, Rep. by its Manager. ….Applicant
-Vs-
- Mr. S. Ruban, S/o. Mr. Sanjone, No.132, Ground floor, Vinayagar Koil Street, Kathirvedu, Chennai -600 066.
- Mr. M.S. Shekhar Babu, S/o. Mr. Srinivasan, No.38, New Vinayagapuram, Saligrammam, Chennai -600 093. …..Defendants
Issues for consideration
3 issues framed by the court
Whether the applicant bank is entitled to recover the outstanding housing loan amount along with interest from the respondents.
Whether the claim falls within the jurisdiction and period of limitation of the Debt Recovery Tribunal.
Whether the defendants are liable for recovery after the loan account turned NPA and subsequent notice under Section 13(2) of SARFAESI Act.
Parties & counsel
- applicant
Canara Bank
- respondent
Mr. S. Ruban
- respondent
Mr. M.S. Shekhar Babu
Coram
Case details
As recorded by the court registry
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