Idbi Bank v. Jitendra
Case brief
What is this about?
The Debt Recovery Tribunal allowed the bank's Original Application. The defendant failed to pay dues on a credit facility classified as NPA. The bank proved its case via documents and witness testimony, leading to a decree for recovery with interest and an injunction on property disposal.
What did the court decide?
Defendant directed to pay Rs. 21,07,526.74 with interest @11.90% p.a. within 60 days; amount recoverable by sale of mortgaged properties; injunction on property disposal; Recovery Certificate directed
What the court decided
OA 309 of 2023
Registered on:22.08.2023 Decided on: 25.01.2024
IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI ORIGINAL APPLICATION NO. 309 of 2023
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 Section 5[C] of Banking Regulation Act, 1949 [10/1949], having its Registered Office at IDBI Tower, WTC Complex, Cuffe parade, Mumbai 400 005 AND
Branch Office at IDBI Bank Ltd. Mahesh Bhavan, Behind Telephone Exchange Tapal Naka, Panvel, Raigad 410 206 AND
A Retail Recovery Department Mittal Court, 2nd Floor, C Wing, Nariman Point, Mumbai- 400 021 Through authorised representative Deepa D. Naik, Assistant General Manager of the Applicant Bank
…. APPLICANT
VERSUS
- Jitendra Damodar Mhatre Proprietor Sai Baba Construction Aged Adult, Indian Inhabitant, having address at
- i. Flat No. 902, 9th Floor, Plot No. 20, Sector 17, Today Imperia, Ulwe, Panvel- 410206.
Issues for consideration
3 issues framed by the court
Whether the bank's claim for recovery of outstanding dues and interest with security is sustainable.
Whether the application deserves to be allowed against the absent defendant.
Whether the quantified amount of Rs. 21,07,526.74 with interest is allowable.
Parties & counsel
- applicant
IDBI Bank Limited
Coram
Dr. Rekha G. Dhakar
Case details
As recorded by the court registry
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