Federal Bank v. Paul
Case brief
What is this about?
This is an order regarding a Miscellaneous Application for confirmation of a Lok Adalath Award. The Tribunal held the bank entitled to a Recovery Certificate due to default in payment and restrained capitalization of penal interest, directing sale of schedule properties for non-payment.
What did the court decide?
Recovery Certificate issued; Defendants directed to pay loan dues with interest; SBPs directed for sale on default.
What the court decided
Fair order
IN THE DEBTS RECOVERY TRIBUNAL-1 AT ERNAKULAM
DATED THIS 09TH DAY OF MAY, 2025
PRESENT: Su. WILLYAHM, B.Sc., M.L. [DISTRICT JUDGE - Retd] PRESIDING OFFICER
OA No.69/2024
Between
The Federal Bank Ltd. Puthencruz Branch Little Flower Church Building Puthencruz Ernakulam District – 682 308.
---Applicant Bank
And
- Paul George S/o. George Chummar Edappalakkattu House North Piramadom P.O. Muvattupuzha Ernakulam District – 686 667 also Proprietor, Johann Fuels HPC Dealer, Vilangupara Junction Piramadom, Muvattupuzha Ernakulam District – 6 86 667.
- Jisha Elizabeth Jaison W/o. Paul George Edappalakkattu House North Piramadom P.O., Muvattupuzha Ernakulam District – 686 667
Issues for consideration
2 issues framed by the court
Whether the applicant bank is entitled to a Recovery Certificate upon the defendants' default in payment of the compromise amount.
Whether penal interest can be capitalised and interest charged thereon.
Parties & counsel
- applicant
The Federal Bank Ltd.
- respondent
Paul George
- respondent
Jisha Elizabeth Jaison
- respondent
George Chummar
- respondent
Annamma George
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court