Idbi Bank v. Mahesh
Case brief
What is this about?
DT allowed the original application filed by IDBI Bank Ltd. for recovery of outstanding dues of Rs. 1.77 crores plus interest and costs from the nominal borrowers, directing payment within 60 days and issue of recovery certificate.
What did the court decide?
Payment of Rs. 1,77,54,078.20 plus penal interest and costs to be made within 60 days; Recovery Certificate issued; Sale of mortgaged property authorized for recovery.
What the court decided
OA 732 of 2022
Registered on: 20.12.2022 Decided on: 27.12.2023
IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI ORIGINAL APPLICATION NO. 732 of 2022
IDBI BANK LIMITED, A company incorporated and registered under the Companies Act, 1956 (1 of 1956) and a banking company within the meaning of Section 5 (C) of the Banking Regulations Act, 1949, (10 of 1949) and having its Registered Office at IDBI Tower, IDBI Bank W.T.C. Complex, Cuffe Parade, Mumbai 400005 and amongst others at Retail Asset Centre Nariman Point, and at Retail Recovery Department, Mittal Court, C-Wing, 2nd Floor, Nariman Point, Mumbai400 021 through its Power of Attorney Holder and authorised officer Shri. Sanjay Valechha.
…. APPLICANT
VERSUS
- MR. MAHESH DADHIA Flat No. 319/001, Godavari Bhavan, Playground Road, Off. Nehru Road, Near Adarsh Petrol Pump, Vile Parle (East), Mumbai- 400 067. And at Office No. 403, 4th Floor, Jay Antariksh, Andheri Kurla Road, Andheri East, Mumbai- 400059
- And at C Block, Flat 3006, Oberoi Exquisite, Maharishi Gokhale Road, Goregaon (E), Mumbai- 400063 And also at 23 Vaibhav Industrial Estate, Opp. Onida House, Mahakali Cave Road, Andheri East, Mumbai- 400093
- MRS. SHEELA DADHIA Flat No. 319/001, Godavari Bhavan, Playground Road, Off. Nehru Road, Near Adarsh Petrol Pump, Vile Parle (East), Mumbai- 400 067. And at Office No. 403, 4th Floor, Jay
Issues for consideration
2 issues framed by the court
Whether the original application for recovery of banking dues is maintainable and deservs to be allowed on merits?
Did the applicants prove the loan documents and establish the joint and several liability of borrowers?
Parties & counsel
- applicant
IDBI BANK LIMITED
- respondent
MR. MAHESH DADHIA
- respondent
MRS. SHEELA DADHIA
Coram
Case details
As recorded by the court registry
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