Union Bank of India v. Balu
Case brief
What is this about?
The Tribunal allowed the debt recovery application filed by Union Bank of India against borrowers and a guarantor for an outstanding agricultural loan of Rs. 22.60 lakh with interest and direction to realize dues through mortgaged properties.
What did the court decide?
Defendants to pay Rs. 22,60,686/- with future interest @ 6% p.a.; applicant to realize dues from mortgaged properties and defendant properties; recovery certificate issued.
What the court decided
Presented on: 20/10/2021 Registered on: 15/03/2022 Decided on: 14/12/2023 Duration: Y M Ds 2 - 1 - 24
IN THE DEBTS RECOVERY TRIBUNAL at Aurangabad.
Original Application No. 42 of 2022
Union Bank of India, (Erstwhile Corporation Ban, having been amalgamated in Union Bank of India, vide a Notification No./Gazette ID-CG-DLE04032020-216535 issued by the Central Government and published in the Gazette of India on 04/03/2020) a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, having its Central office at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai – 400 021 and inter alia a branch at Union Bank of India, Jalgaon Branch, 201, Aditya Chambers, Navipeth, opp. Mahanagar Palika, Navi Peth, Jalgaon Tal. & Dist. Jalgaon – 425001, through its Power of Attorney Holder/authorized officer Mr Dhaneshwar Prasad Singh s/o Ram Narayan Singh, age 48 years occup. service as a Chief Manager, off/o. same as that of Branch.
….Applicant
VERSUS
(Madkar) (OA No. 42/2022) Page 1 of 6
- Mr Balu Ramdas Patil,
age 42 years occup. agriculture R/o Lonwadi (Khurd) at post Varad (Budruk) Tal. Jalgaon Dist. Jalgaon – 425115 PAN CVHPP9242H. Mob. No. 9673530870, 7875262409 election : MRN1280940
Issues for consideration
1 issue framed by the court
Whether the applicant bank is entitled to the recovery claim against the borrowers and guarantor.
Parties & counsel
- applicant
Union Bank of India
- respondent
Mr Balu Ramdas Patil
- respondent
Mr Kiran Atmaram Patil
Coram
Case details
As recorded by the court registry
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