Idbi Bank v. Rupesh
Case brief
What is this about?
The Debt Recovery Tribunal allowed the bank's application for recovery of outstanding dues and accrued interest on housing loans and insurance premiums. The court directed the defendants to pay the claim amount within 60 days and barred them from dealing with properties until realization.
What did the court decide?
Direct the defendants to pay Rs. 36,29,925.23 with pendent lite interest and penal interest within 60 days; restrain defendants from dealing with properties; issue Recovery Certificate.
What the court decided
T. A. No. 147 of 2023
Registered on : 09.04.2021 Decided on : 10.05.2024
IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI TRANSFER ORIGINAL APPLICATION NO.147 of 2023
IDBI Bank Limited, a company incorporated and registered under the Companies Act, 1956 (1 of 1956) and a banking company within the meaning of Section 5 (c) of the Banking Regulations Act, 1949 (10 of 1949) and having its Registered Office at IDBI Tower, IDBI Bank W.T.C. Complex, Cuffe Parade, Mumbai 400005 and amongst others at Retail Asset Center Thane, Anmol House, 1st Floor, Opposite Ghantali Mandir, Naupada, Thane 400602 and at Retail Asset Collection & Recovery Department , IDBI Zonal Office, Mittal Court, B-wing, 2nd Floor, Nariman Point, Mumbai – 400 021 through its Authorised Officer Shri. Sanjay Valechha.
...APPLICANT
VERSUS
- Rupesh A. Bandal, an adult Indian inhabitant having address at 204, Maitri Tower, 2nd Floor, Louis Wadi, Near Municipal High
1
T. A. No. 147 of 2023
School, Thane (West) 400 604 and Flat No.302, 3rd Floor, Building No.02, Chitra, Akash Ganga Complex, Kavesar, G. B. Road, Thane (West) 400 607
Issues for consideration
2 issues framed by the court
Whether the debt recovery claim against the defendants for housing loans and insurance premiums is maintainable in the present Transfer Original Application.
Whether the interest rates claimed by the bank on different portions of the loan are tenable in light of the banking regulations in force at the time.
Parties & counsel
- applicant
IDBI Bank Limited
- respondent
Rupesh A. Bandal
- respondent
Padmashree R. Bandal
Coram
Case details
As recorded by the court registry
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