Indian Bank v. Urvil
Case brief
What is this about?
In OA 215 of 2022, the Tribunal allowed the Indian Bank's application for recovery of Rs. 35.67 crores along with interest against partners of a firm in liquidation who were guarantors and mortgagors. The order was passed ex-parte after defendants did not appear.
What did the court decide?
Payment of Rs. 35,67,40,290.42 plus interest at 13.35% p.a., recovery from mortgaged assets, and issuance of a Recovery Certificate.
What the court decided
OA 215 of 2022
Registered on:- 01.06.2022
Decided on:- 09.08.2023
IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI ORIGINAL APPLICATION NO. 215 of 2022
INDIAN BANK A body corporate constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, having its Corporate Office at 254-260, Avvai Shanmugam Salai, Royalpettah, Chennai-14 and amongst its other branches, a branch office known as Indian Bank MSME-MC Vertical, 11/12, Madhav Nagar, S.V. Road, Andheri (West), Mumbai 400058 and Indian Bank Stressed Asset Management Branch (SAMB), Mumbai at 2nd Floor, Allahabad Bank Building, Mumbai Samachar Marg, Fort, Mumbai -400001 represented through its Asst. General Manager Mr. Sudhanshu Munshi.
... APPLICANT
Versus
1. MR. URVIL AKSHAYA JANI (Partner of M/s. Zephyr Fabric Trading LLP under liquidation in NCLT) 1st Floor, B Wing, Todi Estate, Sunmill Compound, Lower Parel (West), Mumbai 400013 Also at Flat No. 103/210/202& 602, Building No.1 B Wing, H & M Royal, Plot No. 1, 2, 3 S. No. 18, 9, Kondhwa-Saswad Road, Opp. Talab Factory, Kodhwa Bank, Pune.
And also at 92/B, Advent Building, G.J. Bhosle Marg, Sachivalaya, Mumbai 400021.
Issues for consideration
2 issues framed by the court
Whether the Debt Recovery Tribunal has jurisdiction to grant recovery of dues against guarantors and mortgagors in an Original Application.
Whether the evidence of original loan documents, security deeds, and default was sufficient to establish the amount in contention.
Parties & counsel
- applicant
Indian Bank
- respondent
Mr. Urvil Akshaya Jani
- respondent
Mr. Manoj Uttam Khushalani
Coram
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court