Back
TARLADA RAJASEKHAR RAO
Dasari Venkata Srinivasa Rao – Appellant
Versus
State Of Andhra Pradesh – Respondent
ORDER :
This Writ Petition is filed under Article 226 of the Constitution of India for the following relief:-
2. The unnecessary details are shorn off:
At the outset, it is the case of the petitioner that he has availed a long term housing loan of Rs.25,00,000/- from the 4th respondent-The Krishna District Co-operative Central Bank Limited (hereinafter called, ‘the bank’) on 19.02.2019 by mortgaging the ground floor of his house, which is repayable in 20 years and due date is 19.02.2039 in 240 monthly equal instalment
The main legal point established in the judgment is the interpretation of the jurisdiction of co-operative banks under the APCS Act 1964 and the applicability of the RDB Act 1993.
The court established that under the MCS Act, the issuance of recovery certificates involves a summary inquiry focused on the quantification of arrears, and that disputes requiring evidence must be a....
Cooperative banks are categorized under the Banking Regulations Act, 1949, thereby requiring debt recovery through federal legislation and not state mechanisms.
High Court cannot in exercise of its power under Article 226 of the Constitution of India can direct the bank to positively consider the benefit of one time settlement to writ petitioner.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
