Canara Bank v. Radhika
Case brief
What is this about?
This judgment concerns an unpaid loan facility facility of Rs. 34,52,239.14 secured by hypothecation of stock-in-trade. The respondent failed to appear, and the Tribunal allowed the applicant bank's recovery claim with costs and liberty to sell secured/schedule assets.
What did the court decide?
Recovery of Rs. 34,52,239.14 with interest; liberty to sell scheduled hypothecated assets and personal assets; issue of Recovery Certificate.
What the court decided
T.A. No. 1332 of 2023
19.05.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 19th day of May, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
TRANSFERRED APPLICATION No. 1332 of 2023
(Originally filed before DRT- II, Chennai as OA 207/2020 and thereafter transferred to this Tribunal and renumbered as TA No 1332 of 2023)
*Canara Bank (Erstwhile Syndicate Bank) K. K. Nagar Branch, No.793, Dr. Ramasamy Salai, K.K. Nagar, Chennai – 600 078 Rep. by its Branch Manager
….Applicant
- Amended vide proceedings order dated 26.04.2022 in view of merger
-Vs-
Issues for consideration
1 issue framed by the court
Whether the Debt Recovery Tribunal is satisfied that the claim for recovery of dues is valid and unchallenged due to ex parte proceedings.
Parties & counsel
- applicant
Canara Bank (Erstwhile Syndicate Bank) K. K. Nagar Branch
- respondent
S. Radhika
Coram
S.V. Gowramma
Case details
As recorded by the court registry
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