Bank of India v. Vanka Venu
Case brief
What is this about?
The Debt Recovery Tribunal allowed the Bank of India's application for recovery of dues against Mr. Vanka Venu and Mrs. Vanka Mattika as borrower and guarantor, granting interest at 7.45% per annum and ordering a Recovery Certificate.
What did the court decide?
Defendants directed to pay Rs. 22,12,179.93 with interest at 7.45% p.a.; Recovery Certificate issued; injunction on disposal of assets.
What the court decided
DEBTS RECOVERY TRIBUNAL : JABALPUR
(for the States of Madhya Pradesh and Chhattisgarh)
cAttP couRT AT RATPUR (C.c.)
(Presiding Officer - Hon'ble Shri Ram Niwas Patet)
Original Applicotion No. - 1108122
Bank of lndia, Durg (C.G.) 490001
Appticant
Versus
- Mr. Vanka Venu, S/o Late V.V. Rao
0Z) Mrs. Vanka Mattika, W/o Mr. Vanka Venu
(Both R/o Qr. No.-8A, Street-17,
Sector-5, Bhitai, Distt.-Durg, C.G.490001 ) Defendants
Counsel for the Applicant : Shri Ashish Shroti, Advocate
Issues for consideration
2 issues framed by the court
Whether the Defendants are liable to pay the outstanding loan amount along with interest and costs.
Whether a Recovery Certificate can be issued against the Defendants under the Act.
Parties & counsel
- applicant
Bank of India
- respondent
Mr. Vanka Venu
- respondent
Mrs. Vanka Mattika
Coram
Case details
As recorded by the court registry
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