Axis Bank v. Pappu Kumar Jha
Case brief
What is this about?
Allowed the original application for recovery of dues. Directed the defendant to pay the principal amount along with interest at 12% p.a. and costs, dismissing the suit against the absence of respondent.
What did the court decide?
Recovery certificate issued directing respondent to pay Rs. 27,00,436/- with 12% p.a. interest and costs.
What the court decided
T.A. No. 840 of 2022
Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
T.A. No.840 of 2022
Axis Bank Limited
Axis House, Tower T2, 2nd Floor, 1-14, Sector-128, Jaypee Greens Wishtown Noida, UP-201301
Also at:
E-5, 1st floor
Jhandewalan, New Delhi-110055
Applicant
Versus
Pappu Kumar Jha s/o Sone Lal Jha Plot no.299, Ground floor & 1st floor Garhi Chaukhani, Sector-121 Gautam Buddha Nagar, Noida Uttar Pradesh-201301
Issues for consideration
2 issues framed by the court
Whether the applicant bank is entitled to recover the dues from the defendant after suitable declaration.
Whether interest at 12% per annum is appropriate considering global and domestic rate reduction.
Parties & counsel
- applicant
Axis Bank Limited
- respondent
Pappu Kumar Jha
Coram
Govind Ballabh Sharma
Case details
As recorded by the court registry
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