Idbi Bank v. Arif
Case brief
What is this about?
Debts Recovery Tribunal allowed an original application filed by IDBI Bank Limited against Arif Rahiman Shaikh for recovery of loan dues. The court adjusted penal interest and modified future interest rate before ordering payment secured by mortgage.
What did the court decide?
Defendant to pay Rs.29,95,282/- with future interest @9% per annum; property security declared; Recovery Certificate issued.
What the court decided
Presented on .. 28.03.2022 Registered on .. 04.06.2022 Decided on .. 22.04.2025 Duration .. Y—M—D 03--00--25
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 496/2022.
IDBI Bank Limited,
A Company incorporated and registered under the Companies Act, 1956 (1/1956) and a company within the meaning of Section 2 (20) of the Companies Act, 2013 (18 of 2013) and a Banking Company under Section 5(c) of the Banking Regulation Act, 1949 (10 of 1949), having its registered office at IDBI Tower, WTC Complex, Cuffe Parade, Colaba, Mumbai 400005 and branch at – Karanje, Swati Heights, 319-2A-3, Plot No.3, Karanje Tarf, Babar Chowk, Satara 415 002.
… Applicant
Versus
Mr. Arif Rahiman Shaikh,
Age 51 years, Occ. : Business, R/at – Address 1 :- 7, Rajaspura Peth, Opp. Molani Darga Urdu School, Satara 415 002.
Address 2 :- Flat No.S-4, 2nd Floor, Aarush Residency, Sr.No. 334/2B/2,
Sanap ( OA No. 496/2022 ) 1 of 5
Issues for consideration
2 issues framed by the court
Whether the applicant bank is entitled to recovery of outstanding dues and future interest.
Whether the claimed penal interest should be adjusted from the total claim amount.
Parties & counsel
- applicant
IDBI Bank Limited
- respondent
Mr. Arif Rahiman Shaikh
Coram
Dilip G. Murumkar
Case details
As recorded by the court registry
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