Canara Bank v. Raja
Case brief
What is this about?
The Tribunal allowed an Original Application filed by a bank to recover outstanding Kisan OD, Farm Development, and KCCS loans. While accepting the principal claim supported by documentary evidence, the Tribunal ordered deduction of capitalized penal interest violating RBI guidelines and granted interest at 6% p.a.
What did the court decide?
Direction to respondents to jointly/severally pay outstanding principal less capitalized penal interest, simple interest at 6% p.a., costs, and liability to sell properties if ransom is insufficient.
What the court decided
OA No. 767/2023
Fair Order
IN THE DEBTS RECOVERY TRIBUNAL AT MADURAI DATED THIS 06th DAY OF AUGUST, 2026 PRESENT: SEEMA SINHA, [PR. DISTRICT & SESSIONS JUDGE – Retd] PRESIDING OFFICER
OA No.767/2023
Between
Canara Bank, Bodinayakanur Branch, No.16, Kamarajar Bazaar, Bodinayakanur, Theni District - 625 513, Rep. by its Chief Manager.
---Applicant Bank
And
- Mr.P.Raja, S/o.Periyakaruppan, No.30, East Raja Street, Bodinayakanur,
Theni District – 625 513
Also at
Puthur Colony, Subburaj Nagar, Bodinayakanur Town and Taluk, Theni District- 625 513
Issues for consideration
2 issues framed by the court
Whether the Applicant Bank has proved its claim for recovery of advanced loans and interest by the Defendants.
Whether the Tribunal has the power to award pendente lite interest on the admitted claim.
Parties & counsel
- applicant
Canara Bank, Bodinayakanur Branch
- respondent
Mr.P.Raja
- respondent
Mrs.R.Lakshmi
Coram
Case details
As recorded by the court registry
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