Idbi Bank v. Surekha
Case brief
What is this about?
The DT allowed an original application filed by IDBI Bank for recovery of a housing loan of Rs. 64,71,418/- along with future interest at 9% p.a. from three defendants who failed to appear. The court directed sale of the mortgaged property and issuance of a recovery certificate.
What did the court decide?
Direct recovery of Rs. 64,71,418/- with future interest @ 9% p.a., sale of mortgaged property, and issuance of recovery certificate.
What the court decided
Presented on: 29.01.2022 Registered on: 04.06.2022 Decided on: 29.07.2024 Duration: Y M D 02 06 00
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.506/2022.
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 (18 of 2013) and a Banking Company under Section 5(c) of Banking Regulation Act of 1949 (10 of 1949) having its registered office at IDBI Tower, WTC Complex, Cuff Parade, Colaba, Mumbai-400 005 and having one of its branches amongst other places at Lonand Branch, Ghadge Building, Pune Satara Road, Shastri Chowk, Lonand-415 521 Maharashtra.
… Applicant
Versus
1. Mrs. Surekha Jagannath Shendge
Age 42 years, Occ.- Housewife,
2. Mr. Jagannath Khandu Shendge
Age 51 years, Occ.- Service, Both R/at A-5, Dhone Nahar heights, Near Ambamata Mandir, Sukhsagar Nagar, Katraj, Pune-411 064.
Issues for consideration
2 issues framed by the court
Whether the applicant bank is entitled to recover the outstanding loan amount, future interest, and costs from the defendants who failed to appear.
Whether the reduction of penal interest and the quantum of future interest (9% per annum) are just and reasonable.
Parties & counsel
- applicant
IDBI BANK LIMITED
- respondent
Mrs. Surekha Jagannath Shendge
- respondent
Mr. Jagannath Khandu Shendge
- respondent
Mr. Rajendra Nathyaba Shelke
Coram
Case details
As recorded by the court registry
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