Canara Bank v. M/S Anmol Hosiery and Another
Case brief
What is this about?
The DRT allowed the bank's application for recovery of Rs.21 Lacs raised against borrowers who failed to repay a cash credit facility. The court determined a uniform simple interest rate of 8% p.a. to be paid until realization of the amount.
What did the court decide?
Recovery Certificate issued. Defendants declared liable to pay Rs.21,93,834.00 with simple interest @ 08% p.a. until realization.
What the court decided
A compact analysis
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.864/2025
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 02.07.2025
DATE OF DECISION: 25.02.2026
Canara Bank, a Banking Company constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (Act No. 5 of 1970) carrying on Banking business and having its Head Office at 112, JC Road, Bengaluru, Karnataka-560002 and amongst others a Branch at B-19, 399, C1/2, Rani Jhansi Road, Ludhiana -141001 through its Manager and General Power of Attorney Sh. Ravi Goyal.
- ……..Applicant Versus
- M/s Anmol Hosiery, through its Proprietor Smt. Anguri Khatun wife of Sh. Muksed Ansari, B-34, Plot No. 52, Haibowal Kalan, St No. 13, Guru Hargobind Nagar, Ludhiana - 141001
- Smt. Anguri Khatun wife of Sh. Muksed Ansari, Proprietor M/s Anmol Hosiery, Resident of House No. 103, Street No. 3, Near Petrol Pump, Guru Hargobind Nagar, Ludhiana - 141001
……….Defendants
Issues for consideration
3 issues framed by the court
Whether the debtor was liable to repay the outstanding loan amount of Rs.21,93,834.00.
What rate of interest should be granted pending realization of the loan.
Whether the recovery certificate should be issued against the respondents.
Parties & counsel
- applicant
Canara Bank
- respondent
M/s Anmol Hosiery
- respondent
Smt. Anguri Khatun
Coram
Case details
As recorded by the court registry
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