Bank of India v. Dhanaji
Case brief
What is this about?
In an ex-parte recovery application, the Tribunal allowed the Bank of India's claim for Rs.72.11 lakhs. The Court granted future interest at 9% p.a. instead of the claimed 11.40%, secured by existing mortgages on agricultural lands, and issued a recovery certificate.
What did the court decide?
Defendants to pay Rs.72,11,808 with future interest @9% p.a. Part of property released. Recovery certificate issued to recover the dues.
What the court decided
Presented on .. 05.01.2024 Registered on .. 07.06.2024 Decided on .. 17.11.2025 Duration .. Y—M—D 01--10--12
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 190/2024.
Bank of India,
A Body Corporate constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 and having its head office at Star House, C-5, G Block, BandraKurla Complex, Bandra (East), Mumbai – 400051 and branch at – Yernalkar Building, City Survey No. 4075/1/A, Plot No. 46, Tilak Smarak Road, Pandharpur 413 304.
… Applicant
Versus
- 1 Mr. Dhanaji Jayappa Kadam, Age 45 years, Occ. Agriculturist, R/at – Village Shingorni, Taluka Malshiras, District Solapur 413 306.
- 2 Mr. Rohan Dhanaji Kadam, (Minor acting through his natural guardian father Mr. Dhanaji Jayappa Kadam – defendant No.1) Age 16 years, Occ. Student, R/at – Village Shingorni, Taluka Malshiras, District Solapur 413 306.
Sanap ( OA No. 190/2024 ) 1 of 7
- 3 Mr. Pruthviraj Dhanaji Kadam, Age 18 years, Occ. Student, R/at – Village Shingorni, Taluka Malshiras, District Solapur 413 306.
Issues for consideration
3 issues framed by the court
Whether the debt recovery tribunal should allow the application for recovery of dues and future interest given the ex-parte default of defendants.
Whether the rate of future interest claimed by the bank or a reduced rate should be permissible.
Whether the mortgaged properties are sufficient security for the adjudicated amount.
Parties & counsel
- applicant
Bank of India
- respondent
Mr. Dhanaji Jayappa Kadam
- respondent
Mr. Rohan Dhanaji Kadam
- respondent
Mr. Pruthviraj Dhanaji Kadam
- respondent
Mrs. Rekha Dhanaji Kadam
- respondent
Case details
As recorded by the court registry
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