Uco Bank v. Madhukar
Case brief
What is this about?
Debts Recovery Tribunal at Pune allowed an original application filed by UCO Bank for recovery of outstanding term loans and KCC dues from three bank account holders. The court adjusted the claimed interest rate to 9% p.a. and directed recovery from mortgaged properties.
What did the court decide?
Defendants ordered to pay aggregate sum of Rs.35,03,697/- with future interest @9% p.a. Recovery to be secured by mortgage on specified properties. Recovery Certificate issued.
What the court decided
Presented on: 11.11.2022 Registered on: 04.11.2023 Decided on: 26.11.2025 Duration: Y M D 03 -- 15
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE. (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.1469/2023.
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. Shri. Madhukar Bhagwanrao Satav Age-Adult, Occ.:- Agriculture
2. Mrs. Alka Madhukar Satav Age-Adult, Occ.:- Agriculture
3 . Shri. Mahesh Madhukar Satav Age-Adult, Occ.:- Agriculture All R/at & Post Shivaji Niwas, Satav Nagar, Tandulwadi Road, … Defendants
Baramati, District Pune-413 102.
Issues for consideration
2 issues framed by the court
Whether the applicant bank is entitled to recover outstanding loan dues from the defendants who failed to appear.
Whether future interest at 9% p.a. is reasonable compared to the claimed 12.70% p.a.
Parties & counsel
- applicant
UCO Bank
- respondent
Shri. Madhukar Bhagwanrao Satav
- respondent
Mrs. Alka Madhukar Satav
- respondent
Shri. Mahesh Madhukar Satav
Coram
Case details
As recorded by the court registry
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