Canara Bank v. Somnath Shirke
Case brief
What is this about?
The Debts Recovery Tribunal allowed the bank's application for recovery of dues from two farmers who defaulted on an agricultural term loan secured by way of mortgage on land and hypothecation of livestock and machinery.
What did the court decide?
Direct payment of Rs.32,36,612/- with 9% p.a. interest; issuance of Recovery Certificate; sale of mortgaged properties to recover dues.
What the court decided
Presented on: 13.10.2022 Registered on: 05.01.2023 Decided on: 25.03.2026 Duration: Y M D 03 05 12
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.06/2023.
CANARA BANK ,
(Erstwhile Syndicate Bank)
A Banking Company constituted under the Banking Companies Acquisition and Transfer of Undertakings Act, 1970 (Acquisition and Transfer of Undertakings) Act, 1970 having its Head Office at 112, J.C. Road, Bangalore-2 and one of its Branch Office at – 3rd Floor, Red Cross Building, M.G. Road, Camp, Pune-411 001, known as “Hi Tech Agriculture Finance Branch”.
… Applicant
Versus
1. Mr. Somnath Damodar Shirke
Age 32 years, Occ.:-Agriculture,
2. Mr. Dadasaheb Damo dar Shirke
Age 30 years, Occ.:-Agriculture, Both R/at – Gat No.145, Rakshewadi (Ranjangaon Sandas), Tal. Shirur, District Pune-412 211.
Parties & counsel
- applicant
Canara Bank
- respondent
Mr. Somnath Damodar Shirke
- respondent
Mr. Dadasaheb Damodar Shirke
Coram
Case details
As recorded by the court registry
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