Canara Bank v. Man Soil
Case brief
What is this about?
The Tribunal allowed the bank's application for recovery of Rs. 3.58 crores against defaulting borrowers under a cash credit facility, permitting the sale of mortgaged properties and personal assets.
What did the court decide?
Recovery of Rs. 3.58 crores with interest; sale of schedule properties and personal assets for debt realization.
What the court decided
T.A. No. 899 of 2023
30.07.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 30th day of July, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
TRANSFERRED APPLICATION No. 899 of 2023
(Originally filed before DRT- II, Chennai as OA 453/2019 and thereafter transferred to this Tribunal and renumbered as TA No 899 of 2023)
Canara Bank, Rep. by its Chief Manager, Habibullah Road Branch, No.22, Habibullah Road, T.Nagar, Chennai – 600 017. ….Applicant
-Vs-
- M/s. Man and Soil,
Rep. by its Partners, No.24/1, Sri Krishna Apartment,
Issues for consideration
2 issues framed by the court
Whether the original application filed under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 is maintainable for recovery of dues.
Whether the defendants were liable to repay the alleged loan amount along with interest and costs.
Parties & counsel
- appellant
Canara Bank
- respondent
M/s. Man and Soil
- respondent
M/s Nithya Prasanth
- respondent
M/s Ajay Devasahayam Illango
Coram
Case details
As recorded by the court registry
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