Hdfc Bank v. M/S Ria Fabrics
Case brief
What is this about?
The DRT allowed the bank's application for recovery of Rs. 1.58 crore. The court decreed repayment with interest at 12% p.a., authorizing recovery from hypothecated/mortgaged assets and ordering a recovery certificate be issued.
What did the court decide?
Defendants directed to pay Rs. 1,58,44,188 with future interest @ 12% p.a. from 01.09.2021; recovery certificate issued from sale of mortgaged/movable properties.
What the court decided
T.A. No.686 of 2023
Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
T.A. No.686 of 2023
HDFC Bank Ltd.
Department for Special Operations 5th Floor, Ansal Classique Tower Rajouri Garden, New Delhi-110027 Applicant
Versus
- M/s Ria Fabrics
Through its proprietor Ms Rubi 586, Mezzanine Floor, Ward No.II Gali Ghanteshwar, Katra Neel Chandni Chowk, Delhi-110006.
Also at:
A-24, Gali No.11, Chauhan Bangar Seelampur, New Delhi-110053
Also at:
Issues for consideration
2 issues framed by the court
Whether the original application for recovery of dues warrants allowance and directions for payment.
At what rate of interest should pendentelite and future interest be awarded given global interest rate trends.
Parties & counsel
- applicant
HDFC Bank Ltd.
- respondent
M/s Ria Fabrics through Ms Rubi
- respondent
Ms Rubi
- respondent
Mr. Mohd Islam
Coram
Case details
As recorded by the court registry
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