M/S. Yes Bank Ltd. v. Mr. Mohammad Baba Moinuddin
Case brief
What is this about?
In an ex-parte original application for recovery of dues, the Debt Recovery Tribunal held the defendant liable to pay the applicant bank the claimed amount with future interest and costs, allowing the application and directing issuance of a recovery certificate.
What did the court decide?
Defendant to pay Rs.29,34,601.82 with future interest @11.25% p.a. plus costs; Recovery Certificate issued.