Idbi Bank v. Ishwarlal
Case brief
What is this about?
In an original application, IDBI Bank Limited sought recovery of approximately Rs. 37.26 Lakhs along with charges from two defendants who defaulted on home loan installments. The presiding officer allowed the application ex-parte due to the defendants' absence.
What did the court decide?
Direction to Defendants to pay Rs. 37,26,432.99 and other charges within 60 days jointly and severally; direction to issue Recovery Certificate.
What the court decided
O. A. NO. 310 of 2023
Registered on: 22.08.2023 Decided on: 30.11.2023
IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI ORIGINAL APPLICATION NO. 310 of 2023
IDBI BANK LIMITED, A Company incorporated and registered under the Companies Act, 1956 (1 to 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 Branch office at IDBI Bank Ltd Retail Asset Centre, 101, Parikh Commercial Complex, Agashi Road, Virar (West) 401303 And
A Retail Recovery Department IDBI Zonal Office, Mittal Court, C-Wing, 2nd Floor, Nariman Point, Mumbai 400 021
…. APPLICANT
VERSUS
- ISHWARLAL SHANKARLAL SHARMA Aged 56 years, having address at
i. Flat No. 402, C Wing, Building No. 4, Yashwant Shrusti, Palghar Road, Boisar401 501
ii. M/s. Om Sai Sales and Services Dr. Mascarenhas Wadi, Laxman Mhatre Road, Navagaon, Dahisar (West) 400 068
Issues for consideration
2 issues framed by the court
Whether the original application for recovery of home loan dues filed by the bank should be allowed against the defaulting borrowers.
Whether the defendants, who were absent, are liable to pay the outstanding loan amount, interest, and charges.
Parties & counsel
- applicant
IDBI BANK LIMITED
Coram
Dr. Rekha G. Dhakar
Case details
As recorded by the court registry
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