Bank of India v. Ramanathan
Case brief
What is this about?
The Debt Recovery Tribunal allowed the original application filed by Bank of India for recovery of dues totaling Rs. 30,23,310.26 alongside interest and costs, as the defendant did not appear and there was no contra evidence on record.
What did the court decide?
Recovery of Rs. 30,23,310.26 plus interest at 9.65% per annum and costs; liberty to sell defendant's assets and issue Recovery Certificate.
What the court decided
TA No.407/2023
02.06.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 02nd day of June, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
TRANSFERRED APPLICATION No. 407 of 2023
(Originally filed before DRT- II, Chennai as OA 116/2022 and thereafter transferred to this Tribunal and renumbered as TA No.407 of 2023)
Bank of India, Kodambakkam Branch No.25, Second Cross Street, Trustpuram,Kodambakkam, Chennai-600 024
...Applicant
-Vs-
Mr. Ramanathan S/o.Mr.Kullaikan No.5/13, Veerapandii Nagar, IV Street,Choolaimedu, Chennai-600 094
Issues for consideration
2 issues framed by the court
Whether the Debt Recovery Tribunal allowed the application filed by the bank for recovery of dues from the defaulting borrower.
Whether the amount claimed by the bank, along with interest and costs under Section 19(1) RDB Act 1993, was granted given the unchallenged nature of the evidence.
Parties & counsel
- applicant
Bank of India, Kodambakkam Branch
Coram
S.V. Gowramma
Case details
As recorded by the court registry
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