Debts Recovery Tribunal allowed Canara Bank's application for recovery of Rs.69.60 lakhs with interest against defendant-borrower and guarantor, directing sale of mortgaged land and issuance of recovery certificate.
Recovery of Rs.69,60,950.50 with interest allowed; recovery certificate issued; direction to Recovery Officer for distribution of sale proceeds.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 1027/2022 Date of Institution: 24.05.2022 Date of Decision: 04.02.2026
Canara Bank having its branches all over India and a branch at Nurmahal, Tehsil Phillaur, District Jalandhar, Punjab.
……..Applicant
Vs.
……….Defendants
Advocates
Sh. Atul Mahajan, Counsel for the applicant bank. Defendants - ex parte vide order dated 18.06.2022 .
OA for the Recovery of Rs.69,60,950.50p with interest @9.50% per annum with half-yearly rests from 24.05.2022.
ORDER
2
24.05.2022, a sum of Rs.69,60,950.50p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3
2 issues framed by the court
Whether the application for recovery of loan dues with interest is maintainable and proved.
Whether the recovery certificate should be issued and recovery proceedings directed.
2 provisions across 1 enactments
Canara Bank
Mohinder Singh
Jaswinder Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
