Federal Bank v. Rajamram
Case brief
What is this about?
The Debts Recovery Tribunal allowed the bank's application for recovery of dues amounting to Rs.22,79,874 after deducting penal interest, granting future interest at 9% per annum, and directing the issue of a recovery certificate secured by mortgaged land.
What did the court decide?
Defendants to pay Rs.22,79,874 with future interest @9% per annum; Recovery Certificate issued; title to sell mortgaged property granted.
What the court decided
| Presented on | : 05.11.2021 |
|---|---|
| Registered on | : 24.02.2022 |
| Decided on | : 22.12.2023 |
| Duration | : Y M D |
| 02 01 17 |
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 132/2022.
The Federal Bank Limited,
A Banking Company within the meaning of Companies Act, 2013 (18/2013) having its registered office at Federal Towers, Alwaye, Kerala and branch at – Karnal (Sangli), Ward No. 5, Main Road, Ekata Chowk, Behind Maruti Mandir and near Karnal Grampanchayat, Karnal 416146, Taluka Miraj, Distrit Sangli.
.. Applicant
Versus
- 1 Mr. Rajaram Vithoba Shendage, Age 51 years, Occ. : Agriculturist,
- 2 Mrs. Balika Rajaram Shendage, Age 47 years, Occ. : Agriculturist, Both R/o : Near Marathi Shala, Borjainagar, Amanapur, Taluka Palus, Distrit Sangli 416308.
Shala,
.. Defendants
Issues for consideration
3 issues framed by the court
Whether the debts recovery tribunal can adjudicate the principal debt based on loan documents despite defendants' absence.
Whether the claim for penal interest should be adjusted before determining the recoverable amount.
Whether the applicants are entitled to relief regarding hypothecated assets without proper description.
Parties & counsel
- applicant
Federal Bank Limited
- respondent
Mr. Rajaram Vithoba Shendage
- respondent
Mrs. Balika Rajaram Shendage
Coram
Case details
As recorded by the court registry
All orders in this case
2 orders share this CNR
- Order 1 · Dilip G Murumkar
- Order 2 — this page · Dilip G Murumkar
Similar cases
Judgements on the same questions, provisions and authorities, from every court