Idbi Bank v. Ranjit
Case brief
What is this about?
The Debt Recovery Tribunal allowed an original application filed by IDBI Bank Limited for recovery of a sum of Rs. 77,71,600.24 along with interest and charges from two borrowers who defaulted on home loan, insurance premium loan, and top-up loan obligations secured by mortgaged property.
What did the court decide?
Defendants directed to pay Rs. 77,71,600.24 plus interest and charges within 60 days; recovery from sale of mortgaged properties directed.
What the court decided
OA 387 of 2022
Decided on : 24/07/2023
Registered on : 17/08/2022
IN THE DEBT RECOVERY TRIBUNAL-I MUMBAI ORIGINAL APPLICATION NO. 387 of 2022
| 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 Sectio | n) |
| 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 Retail Asset Centre | ) |
| Plot No.44, Ground Floor, Sitai Sadan, Suryodaya | ) |
| CHS, Ambernath Station Road, Ambernath (E) | ) |
| And | |
| A Retail Recovery Department | ) |
| IDBI Zonal Office, Mittal Court, | ) |
| C-Wing, 2ndFloor, Nariman Point | ) |
| Mumbai 400 021 | ) |
| Through authorized representative | ) |
| Sanjay Valechha, Deputy General | ) |
Page 1 of 6
OA 387 of 2022
Issues for consideration
1 issue framed by the court
Whether the liability of the borrowers to repay the outstanding loan dues exists.
Parties & counsel
- applicant
IDBI Bank Limited
- respondent
Ranjit Rajendra Acharya
- respondent
Ajitha Rajendra Acharya
Coram
Case details
As recorded by the court registry
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