South Indian Bank Ltd. v. Smt. Kalla Rajeshwari
Case brief
What is this about?
Debts Recovery Tribunal allowed the bank's Original Application for recovery. It declared the defendants jointly liable to pay the principal amount with future interest and costs, and confirmed the bank's right to proceed against both the mortgaged property and the defendants' assets. At the defendants were absent, the court relied on the bank's evidence affidavit and marked documents.
What did the court decide?
The defendants are liable to pay Rs.32,51,840.74 with future interest; the claim secured by mortgage; bank entitled to proceed against properties; costs allowed; Recovery Certificate directed.