Indian Bank v. Bala N.L.
Case brief
What is this about?
The Debts Recovery Tribunal allowed an original application filed by a bank under the RDB Act for recovery of a home loan defaulting amount of Rs.44.3 lakhs plus interest from the principal borrowers and guarantor.
What did the court decide?
Allowed recovery of principal sum of Rs.44,33,509/ with further interest at 10.20% p.a. and costs jointly and severally from defendants via sale of mortgaged property or personal assets.
What the court decided
O.A. No. 92 of 2022 (E)
05.03.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 05th day of March, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
ORIGINAL APPLICATION No. 92 of 2022
M/s. Indian Bank, Venkatapuram Branch, Ambattur, Chennai, Rep by its Senior Manager ….Applicant
-Vs-
- Mr. N. L. Bala, S/o. Lakshmipathy, No. 10/141, Pallavan Nagar, Thiruverkadu, Chennai – 600 077.
- Mrs. Vaisali, W/o. Mr. N.L. Bala, No. 10/141, Pallavan Nagar, Thiruverkadu, Chennai – 600 077.
- Mr. V. Suresh, S/o. Mr. Venkarachalam, No. 91, Grace Nagar, Puthagaram, Chennai – 600 096. ….Defendants
Issues for consideration
1 issue framed by the court
Whether the applicant bank is entitled to recover the dues of Rs.44,33,509/ with interest from the defendants being jointly and severally liable.
Parties & counsel
- applicant
M/s. Indian Bank, Venkatapuram Branch
- respondent
Mr. N. L. Bala
- respondent
Mrs. Vaisali
- respondent
Mr. V. Suresh
Coram
Case details
As recorded by the court registry
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