Uco Bank v. Amyn
Case brief
What is this about?
The Debt Recovery Tribunal allowed an application filed by UCO Bank to recover dues of Rs. 21,92,772.34 with interest from two co-defendants who defaulted on a home loan. The court directed recovery from mortgage properties and denied the claimed 2% p.a. penal interest.
What did the court decide?
Debt recovery ordered against defendants jointly and severally within 60 days; penal interest declined.
What the court decided
O. A. No. 391 of 2022
Registered on : 18.08.2022 Decided on : 27.02.2024
IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI ORIGINAL APPLICATION NO. 391 of 2022
UCO BANK, a body corporate Constituted under the Banking Companies (Acquisition & Transfer of Undertaking) Act, 1970 having its Head Office at 10, B.T.M. Sarani, Kolkata – 700001, West Bengal and one of its Branch Office amongst others known as Santacruz West Branch having address at RNA Classic Building, S. V. Road, Mumbai – 400054 in the State of Maharashtra, represented by Mr. Vivek Jain Singh Manager.
...APPLICANT
VERSUS
1. MR. AMYN ANWARALI DAMANI, House No. 001, Damani House, At Post Uttan, Near Royal engineering School, Bhayandar West, District Thane – 401 106. Also at
Tulip D-401, Garden Housing Behind Cine Planet Kompally Hyderabad, Andhra Pradesh – 500014.
2. MRS. ANISHA AMYN DAMANI, House No. 001, Damani House, At Post Uttan, Near Royal engineering School, Bhayandar West, District Thane – 401 106. Also at
Tulip D-401, Garden Housing Behind Cine Planet Kompally Hyderabad, Andhra Pradesh – 500014.
Issues for consideration
2 issues framed by the court
Whether the debt recovery tribunal allowed the original application for recovery of term loan dues.
Whether the penalty interest claimed by the bank should be granted.
Parties & counsel
- applicant
UCO Bank
Coram
Dr. Rekha G. Dhakar
Case details
As recorded by the court registry
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