Federal Bank v. Atul Patil
Case brief
What is this about?
Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 27,20,842 along with future interest at 9% p.a., reducing the claimed amount by excluding penal interest and adjusting future interest rates.
What did the court decide?
Defendants to pay Rs. 27,20,842 with future interest at 9% p.a.; recovery secured by sale of mortgaged property; Recovery Certificate issued.
What the court decided
Presented on .. 19.08.2022 Registered on .. 18.02.2023 Decided on .. 01.05.2025 Duration .. Y—M—D 02--08--12
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 237/2023.
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 at – Kesar Bhavan, Shambharfooti Road, Vishrambaugh, S.T. Colony, Sangli 416 415.
… Applicant
Versus
- 1 Mr. Atul Annaso Patil, Age 38 years, Occ. Agri. & Business, R/o – 831, Khanderajuri Road, A/P Erandoli, Tal.Miraj, Dist.Sangli-416410.
- 2 Mr. Avinash Annaso Patil,
Age 32 years, Occ. Agri. & Business, R/o – 831, Khanderajuri Road, A/P Erandoli, Tal.Miraj, Dist.Sangli-416410.
- 3 Mr. Amit Annaso Patil,
Age 31 years, Occ. Agri. & Business, R/o – 831, Khanderajuri Road, A/P Erandoli, Tal.Miraj, Dist.Sangli-416410.
Issues for consideration
1 issue framed by the court
Whether the Debt Recovery Tribunal is empowered to grant recovery of loan dues with adjusted interest rates in a default proceeding.
Parties & counsel
- applicant
Federal Bank Limited
- respondent
Mr. Atul Annaso Patil
- respondent
Mr. Avinash Annaso Patil
- respondent
Mr. Amit Annaso Patil
- respondent
Mr. Kusum Annaso Patil
Case details
As recorded by the court registry
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