Idbi Bank v. Firjo Patel
Case brief
What is this about?
Debts Recovery Tribunal allowed an ex-parte application by IDBI Bank Ltd. for recovery of housing loan dues. The court reduced the claim by deducting penal interest and awarded future interest at 9% p.a., securing the debt via a mortgage on the mortgaged flat.
What did the court decide?
Allowed with costs. Directed defendant to pay Rs.27,88,168/- with future interest @9% p.a. and to release mortgaged flat for sale.
What the court decided
Presented on: 28.02.2022 Registered on: 04.06.2022 Decided on: 05.06.2025 Duration: Y M D 03 03 08
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.497/2022.
IDBI BANK LIMITED,
A Company incorporated and registered under the Companies Act, 1956 ( 1 of 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 Banking Regulation Act of 1949 (10 of 1949) having its registered office at IDBI Tower, WTC Complex, Cuff Parade, Colaba, Mumbai-400 005 and having one of its branches amongst other places at Godoli Branch, CFC Building, Old MIDC, Godoli, Satara – 415 004.
… Applicant
Versus
Mr. Firoj Barkat Patel
Age 30 years, Occ.- Business, R/at Post Kameri, Tal/Dist. Satara-415 019 AND
Flat No.ST-3, Stilt Floor, Aarush Residency, Plot No.6+7, S.No.334/2B/2, Near Amar Laxmi Sadan, Sambhaji Nagar, Kodoli, Satara-415 004.
…Defendant
Issues for consideration
2 issues framed by the court
Whether the debts recovery tribunal is entitled to allow the applicant bank's claim for recovery of housing loan dues in default.
Whether penal interest and the rate of future interest are admissible in the recovery order.
Parties & counsel
- applicant
IDBI Bank Limited
Coram
Dilip G. Murumkar
Case details
As recorded by the court registry
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