Bank of India v. Official Liquidator for Blue Ridge Hotels Pvt. Ltd.
Case brief
What is this about?
The Debts Recovery Tribunal allowed an application by Bank of India and Central Bank of India to recover approximately ₹90.21 crores from Blue Ridge Hotels Pvt. Ltd. The claim was reduced from the original amount after realizing ₹89.69 crores from the sale of mortgaged assets.
What did the court decide?
Recovery of ₹90,21,78,489.10 along with future interest; issuance of Recovery Certificate; mortgaged property remains liable for redemption or sale.