Uco Bank v. Mejar Singh
Case brief
What is this about?
Debts Recovery Tribunal allowed the applicant's original application for recovery of an NPA loan of Rs.2241263.60p against the defendant. The court granted an interest rate of 8% p.a. and ordered issuance of a recovery certificate.
What did the court decide?
Recovery Certificate issued; Defendant liable to pay Rs.2241263.60p with simple interest @8% p.a. from filing date.
What the court decided
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.255/2024
PRESIDED OVER BYMRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 08.02.2024
DATE OF DECISION: 25.09.2024
UCO BANK, a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 having its Head Office at 10-B.T.M., Sarani, Kolkatta (a Government of India Undertaking) and having one of its Branch Situated at VPO Ghurani Kalan, Tehsil Payal, District Ludhiana, through Sh. Aditya Sharma, who is presently working as Manager, Branch Constituted Power of Attorney Holder/Memorandum of the Bank and Principal Officer.
……..Applicant Versus Sh. Mejar Singh S/o Sh. Mal Singh, R/o Village Rabon Niwin, Tehsil Babur Pur, Tehsil Payal, Distt. Ludhiana.
….……Defendant
Advocates:
Argued by Sh. Ankit Kamboj, Advocate proxy for Sh. Munish Mittal, Advocate for the applicant Defendant is ex-parte
Issues for consideration
2 issues framed by the court
Whether the applicant is entitled to recover the NPA amount from the defendant?
What rate of interest shall be applicable on the outstanding amount?
Parties & counsel
- applicant
UCO BANK
Coram
MRIDULESH KUMAR SINGH
Case details
As recorded by the court registry
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