Idbi Bank v. Vickaash
Case brief
What is this about?
The Debt Recovery Tribunal allowed an original application filed by IDBI Bank Limited for recovery of dues amounting to Rs. 4.53 crore from two defendants who had defaulted on home loans secured by mortgages on two villas in Tamil Nadu.
What did the court decide?
Respondents directed to pay Rs. 4,53,44,428 and charges within 60 days; decree recoverable from sale of mortgaged and other assets; respondents restrained from dealing with properties; Recovery Certif
What the court decided
O. A. No. 258 of 2023
Decided on : 12.12.2023
Registered on : 28.07.2023
IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI ORIGINAL APPLICATION NO. 258 of 2023
IDBI BANK LIMITED, a company incorporated and registered under the Companies Act, 1956 (1 of 1956) and a Company within the meaning of Section 2 (20) of the Companies Act, 2013 (Act 18 of 2013) and also A Banking company within the meaning of Section 5(C) of the Banking Regulation Act, 1949 (10 of 1949) having its registered office at IDBI Tower, WTC Complex, Cuffe Parade, Mumbai – 400 005. And
Retail Asset center, 1st Floor, Marigold House, Plot No. A-34, Cross Road No.2 Marol, MIDC, Andheri (East), Mumbai 400 093. And
Retail Asset Center, 1st Floor, Bhoomi Saraswati Complex, Ganjawala Lane, Opp. S. V. Road, Borivali (West), Mumbai 400 092. And
A Retail Recovery Department IDBI Zonal Office, Mittal Court, C-wing, 2nd Floor, Nariman Point Mumbai 400 021 through its authorized representative Sheela Menon, Manger of the Applicant
...APPLICANT
VERSUS
Issues for consideration
3 issues framed by the court
Whether the debtor defendants are liable to pay the outstanding mortgage dues to the bank.
Whether the bank is entitled to recover the amount from the sale of mortgaged and other secured assets.
Whether the defendants are restrained from dealing with their properties pending realization of dues.
Parties & counsel
- applicant
IDBI Bank Limited
- respondent
Vickas Ishwar Dass Agarwal
- respondent
Jyoti Agarwal
Coram
Case details
As recorded by the court registry
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