Uco Bank v. Suresh Bhise
Case brief
What is this about?
A Debt Recovery Tribunal allowed UCO Bank's original application for recovery of approximately Rs. 27.42 lakhs plus future interest. The court sanctioned 9% p.a. interest instead of the claimed 13.5% and directed the sale of mortgaged properties for realization.
What did the court decide?
Defendants to pay Rs. 27,42,305/- plus future interest at 9% p.a.; sale of mortgaged properties directed; Recovery Certificate issued.
What the court decided
Presented on: 26.12.2019 Registered on: 24.06.2022 Decided on: 17.10.2024 Duration: Y M D 04 09 21
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE. (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.836/2022.
UCO Bank ,
A Corporate Body constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970, having its Head Office at – 10, B.T.M. Sarani, Kolkata and branch amongst other places at Market Yard, Indapur Road, Baramati, Taluka Baramati, District Pune.
… Applicant
Versus
1. Mr. Suresh Eknath Bhise
2. Mr. Malhari Eknath Bhise
- 3 . Mrs. Shobha Suresh Bhise
4. Mr. Satish Baba Shinde
5. Mr. Uttam Kondiba Narute
Issues for consideration
2 issues framed by the court
Whether to allow the original application for recovery of dues from defaulting borrowers.
What interest rate is just and reasonable for future interest in the absence of specific hypothecation details.
Parties & counsel
- applicant
UCO Bank
- respondent
Mr. Suresh Eknath Bhise
- respondent
Mr. Malhari Eknath Bhise
- respondent
Mrs. Shobha Suresh Bhise
- respondent
Mr. Satish Baba Shinde
- respondent
Case details
As recorded by the court registry
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