Bank of Maharashtra v. Sanjay
Case brief
What is this about?
Debts Recovery Tribunal allowed Bank of Maharashtra's application for recovery of housing loan and cash credit dues from borrowers and guarantors, directing payment with interest at 9% p.a. and mortgage execution.
What did the court decide?
Payment of Rs.20,58,253 for Housing Loan and Rs.16,12,366 for Cash Credit with future interest @9% per annum; execution of mortgage; issue of Recovery Certificate.
What the court decided
Presented on .. 02.09.2021 Registered on .. 21.03.2022 Decided on .. 22.12.2025 Duration .. Y—M—D 04--03--20
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 215/2022.
Bank of Maharashtra,
A Banking Company Incorporated under the Banking Companies (Acquisition and Transfer of Undertakings) Act V of 1970, having its head office at ―Lokmangal‖, 1501, Shivajinagar, Pune – 411 005 and branch amongst other places at Patan Branch, Satara.
… Applicant
Versus
- 1 Sanjay Tukaram Desai, Age Adult, Occ. Business,
- 2 Chhaya Sanjay Desai, Age Adult, Occ. Housewife, 1 and 2 R/at – Post Natoshi, 309-1, Desaiwada, Taluka Patan, District Satara 415 206.
- 3 Khashaba Nivrutti Kadam, Age Adult, Occ. Business, R/at – Post Ambarg, 99, Near Primary School, Taluka Patan, District Satara 415 206.
Sanap ( OA No. 215/2022 ) 1 of 7
Issues for consideration
3 issues framed by the court
Whether the application for recovery of loan dues from borrowers and guarantors should be allowed.
Whether penal interest claimed should be awarded or deducted from the total claim amount.
Whether future interest should be granted at the claimed rate or a reasonable rate.
Parties & counsel
- applicant
Bank of Maharashtra
- respondent
Sanjay Tukaram Desai
- respondent
Chhaya Sanjay Desai
- respondent
Khashaba Nivrutti Kadam
- respondent
Prakash Kisan Shirke
- respondent
Case details
As recorded by the court registry
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