Federal Bank v. Kakaso
Case brief
What is this about?
Debts Recovery Tribunal allowed the bank's application for recovery of outstanding loan dues after an ex-parte hearing. The court adjusted the claim by deducting penal interest and fixed future simple interest at 9% per annum.
What did the court decide?
Ordered payment of Rs.54,70,666/- + 9% simple interest; authorized sale of mortgaged agricultural land and issuance of Recovery Certificate.
What the court decided
Presented on .. 26.08.2023 Registered on .. 18.11.2023 Decided on .. 19.07.2025 Duration .. Y—M—D 01--10--23
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 1572/2023.
The Federal Bank Limited,
A Banking Company within the meaning of Companies Act, 2013 (18/2013), having its registered office at Federal Towers, Bank Junction, Alwaye, Ernakulum District, Kerala and branch office at – S.T. Colony, Kesar Bhavan, 100 Feet Road, Near Ganesh Mandir, Vishrambaugh, Sangli 416 415.
… Applicant
Versus
- 1 Mr. Kakaso Shivling Mali, Age 46 years, Occ. Agri. & Business, R/o : Dandoba Road, Danole Mala, A/P Malgaon, Taluka Miraj, District Sangli 415 407.
- 2 Mr. Babaso Shivling Mali, Age 61 years, Occ. Agri. & Business, R/o : Dandoba Road, Danole Mala, A/P Malgaon, Taluka Miraj, District Sangli 415 407.
Sanap ( OA No. 1572/2023 ) 1 of 5
- 3 Mrs. Vaishali Kakaso Mali, Age 33 years, Occ. Agri. & Business, R/o : Dandoba Road, Danole Mala, A/P Malgaon, Taluka Miraj, District Sangli 415 407.
Issues for consideration
2 issues framed by the court
Whether the Applicant Bank is entitled to recover the outstanding dues from the Defendants.
Whether penal interest can be granted in the present application for recovery.
Parties & counsel
- applicant
Federal Bank Limited
- respondent
Mr. Kakaso Shivling Mali
- respondent
Mr. Babaso Shivling Mali
- respondent
Mrs. Vaishali Kakaso Mali
- respondent
Mrs. Sundarabai Babaso Mali
Case details
As recorded by the court registry
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