Canara Bank v. Saravanan v
Case brief
What is this about?
Debt Recovery Tribunal allowed an application for issuance of a Recovery Certificate against borrowers and builders for a housing loan default. The court held the evidence uncontroverted and awarded recovery of the principal amount with future interest.
What did the court decide?
Recovery Certificate awarded for Rs. 52,78,172/- with future interest at 8.95% p.a. from Defendants jointly and severally.
What the court decided
IN THE DEBTS RECOVERY TRIBUNAL II, BENGALURU
Dated this 19th Day of June, 2025
Present: Sri. T. RAJESH Presiding Officer OA.No.326/2022
BETWEEN:
Canara Bank, Retails & MSME Loan Centre-II, Basavanagudi, Bengaluru -560004 Rep. by its Branch Manager
…APPLICANT
AND:
- Sri. Saravanan V, S/o. Venkateshan P, No. 19/A, Old No. 210/364, 2nd Main, 6th Cross, Prakashnagar, Bengaluru -560021.
- Sri. Jyothi S, W/o. Venkateshan P, No. 19/A, Old No. 210/364, 2nd Main, 6th Cross, Prakashnagar, Bengaluru -560021.
- M/s. Suvastu Housing Pvt. Ltd, Director: Arjun Kumar, Regd. Office: No. 49, AMR Plaza, 18th Main, HSR Layout, Sector -3, Bengaluru -560102.
- M/s. N. D. Developers Pvt. Ltd, Authorized Signatory: Manoj Kumar,
Issues for consideration
2 issues framed by the court
Whether the applicant succeeded in proving the OA claim as against the Defendants?
If so, to what extent?
Parties & counsel
- applicant
Canara Bank, Retails & MSME Loan Centre-II
Coram
T. RAJESH
Case details
As recorded by the court registry
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