Union Bank of India v. Poonam
Case brief
What is this about?
The Debt Recovery Tribunal allowed the applicant bank's application for recovery of a housing loan default of approximately Rs. 1.03 crore from the respondents held as ex-parte.
What did the court decide?
Recovery of Rs.1,02,95,765/- plus interest at 10.80% p.a., costs, and liberty to sell mortgaged property upon default.
What the court decided
T.A. No. 106 of 2023
06.05.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 06th day of May, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
TRANSFERRED APPLICATION No. 106 of 2023
(Originally filed before DRT- II, Chennai as OA 821/2019 and thereafter transferred to this Tribunal and renumbered as TA No 106 of 2023)
*Union Bank of India, (Erstwhile Corporation Bank)
Shastri Nagar Branch, Rep. by it Chief Manager, New No.5, Old No.11, First Avenue, Shastri Nagar, Adyar, Chennai 600 020.
….Applicant
*Amended vide order dated 02.12.2021 in view of merger
Issues for consideration
2 issues framed by the court
Whether the original application for recovery of dues under Section 19 of the Recovery of Debts and Bankruptcy Act should be allowed.
Whether the claim is barred by limitation under Section 24 of the Recovery of Debts and Bankruptcy Act.
Parties & counsel
- applicant
Union Bank of India, (Erstwhile Corporation Bank), Shastri Nagar Branch, Rep. by it Chief Manager
- respondent
MRS. POONAM J. SHETH PAN
- respondent
MR. JESMIN K. SHETH
- respondent
MR. RAHUL J. SHETH
Coram
Case details
As recorded by the court registry
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