Bank of India v. Iranna
Case brief
What is this about?
DRT allowed Bank of India's application for recovery of loan dues against guarantors and mortgagors. Court disallowed hypothecated assets relief due to lack of details but granted mortgage of immovable properties and directed recovery certificate issuance.
What did the court decide?
Payment of Rs.47,51,713/- with future interest @9% p.a.; mortgage of two plots in Favou; recovery certificate issued.
What the court decided
Presented on: 22.11.2022 Registered on: 10.04.2023 Decided on: 07.05.2025 Duration: Y M D 02 05 15
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.408/2023.
BANK OF INDIA ,
A Body corporate constituted under the provisions of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 having its Head Office at Star House C-5, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai-400 051, having branch at N.G. Abdulpurkar Complex, Neela Nagar, Samrat Chowk, Solapur.
… Applicant
Versus
1. Mr. Iranna Sidram Nimbargikar Age 77 years, Occ.-Business ,
2. Mr. Mahesh Iranna Nimbargikar Age 37 year, Occ.:- Business,
3. Mrs. Aarti Mahesh Nimbargikar Age 33 years, Occ.:- Business, All R/at 789, North Kasba, Balives, Near Mallikarjun Temple, Kumbhar Wada, Gavandi Galli, Solapur-413 002.
… Defendants
Issues for consideration
3 issues framed by the court
Whether the debts recovery tribunal should allow recovery application against guarantors and mortgagors with acknowledgment letter filed after limitation.
Whether the court can grant hypothecated assets reliefs in the absence of detailed description.
Whether future interest of 14.20% or 9% per annum is appropriate in loan recovery cases.
Parties & counsel
- applicant
Bank of India
- respondent
Mr. Iranna Sidram Nimbargikar
- respondent
Mr. Mahesh Iranna Nimbargikar
- respondent
Mrs. Aarti Mahesh Nimbargikar
Coram
Case details
As recorded by the court registry
All orders in this case
2 orders share this CNR
- Order 1 · Dilip G Murumkar
- Order 2 — this page · Dilip G Murumkar
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