Idbi Bank v. Gamalibai
Case brief
What is this about?
The Debts Recovery Tribunal, Pune, allowed the applicant bank's original application for recovery of loan dues. The court reduced the claim by penal interest and awarded future interest at 9% simple interest, securing the amount against a mortgaged property.
What did the court decide?
Recovery of Rs.25,31,968 along with future interest @9% per annum and sale of mortgaged property.
What the court decided
Presented on .. 20.05.2022 Registered on .. 21.06.2022 Decided on .. 23.04.2025 Duration .. Y—M—D 02--11--03
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 647/2022.
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 400 005 and branch at – Powai Naka, 172/4, Ravivar Peth, Shivaji Circle, Satara 415 001.
… Applicant
Versus
- 1 Mrs. Gamalibai Fulchand Rathod, Age 40 years, Occ. Business, R/o : (1) Flat No. 12, 3rd floor, Shubhangan Building, Pinaki Colony, Charoli Phata, Behind Shama Estate Chouvisawadi Charoli Bk., Alandi Rural Pune 412 105.
Sanap ( OA No. 647/2022 ) 1 of 6
(2) Kakhad, Kalakhadak, Vinode Vasti, Bhumkar Vasti, Vakad, Pune 411027 (3) Flat No. 206, 2nd Floor, Building No. 24, Star City Township, Shirwal 412801. 2 Mr. Fulchand Narayan Rathod, Age 42 years, Occ. Business, R/o : (1) Flat No. 12, 3rd floor, Shubhangan Building, Pinaki Colony, Charoli Phata, Behind Shama Estate Chouvisawadi Charoli Bk., Alandi Rural Pune 412 105.
Issues for consideration
2 issues framed by the court
Whether the applicant Bank is entitled to recover the outstanding loan dues including future interest.
Whether penal interest claimed can be granted and future interest rate can be modified.
Parties & counsel
- applicant
IDBI Bank Limited
- respondent
Mrs. Gamalibai Fulchand Rathod
- respondent
Mr. Fulchand Narayan Rathod
Coram
Case details
As recorded by the court registry
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