Uco Bank v. Sh. Barun Kumar
Case brief
What is this about?
The Debts Recovery Tribunal allowed the bank application for recovery. Relying on the Tripartite Agreement, the court directed the builder-guarantor to pay the outstanding amount as the flat was not delivered to the borrower.
What did the court decide?
Builder to pay Rs. 22,55,946 with interest and costs to be realized from sale of mortgaged property or defendant's assets.
What the court decided
Before SUSHIL KUMARRASTOGI,Presiding Officer Debts RecoverY Tribunal-Il,Delhi
TA 1{o.1109 ot 2024 UCO BANK Vs SH.BARUN KUMAR& ORS
Reserved on : O1.O8.2O25
Pronounced on : 22.O8.2O25
UCO Bank bank Vs. 1 Sh. Barun Kumar
-Applicant
2 SH. Tarun Kumar 3 M/s Value InfraconIndia tut. Ltd' - Defendants
Present: Shri ShikharKumar, Counsel appearsfor apPlicant bank. Defendants areexparte since 08.04.2025.
FINAL ORDER
This original applicationhas been filed {Vthe I applicant ban(on 17'03.2016 through Ms. Kumari Neha, Manager oftheapplicant bank, under Section19 of the RDB Act,1993 against the defendants for recovery of a sum ofRs.22,55,946/-together with cost, charges andpendentelliteand future interest @10.20olop.a. from date of flling of this O'A. till the realization infull.
Issues for consideration
2 issues framed by the court
Whether the guarantor (builder) is liable to pay the default amount when the loan was used to construct a flat and the borrower has no possession.
Whether the builder must refund amounts to the bank in case of borrower default under the Tripartite Agreement.
Parties & counsel
- applicant
UCO Bank
Coram
SUSHIL KUMAR RASTOGI
Case details
As recorded by the court registry
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