Idbi Bank v. Kavitha
Case brief
What is this about?
This Original Application allowed the IDBI Bank to recover a principal amount of Rs.46,05,972.28 plus interest from the defendant. The court directed the payment but capped the interest rates at the original sanctioned rates while disallowing capitalization of penal interest.
What did the court decide?
Directed the defendant to pay Rs.46,05,972.28 plus interest at 10.05% p.a. and 7.5% p.a. within one month; allowed sale of properties in case of default.
What the court decided
OA No. 38/2024
Fair Order
IN THE DEBTS RECOVERY TRIBUNAL AT MADURAI DATED THIS 11th DAY OF AUGUST, 2026 PRESENT: SEEMA SINHA, [PR. DISTRICT & SESSIONS JUDGE – Retd] PRESIDING OFFICER
OA No.38/2024
Between
IDBI Bank Ltd, Sivakasi Branch, 12/2, Ground Floor, Velayutham Road, Sivakasi- 626 123 Rep. by its Assistant General Manager.
---Applicant Bank
And
- Mrs.V.P.Kavitha, W/o.Mr.Vetrivel, No.2/366, North Bye Pass Road, Koodankulam, Tirunelveli- 627 106.
---- Defendant
Counsel for the Applicant Bank : M/s J.Prabakaran & V.Kasirajan
This Original Application was heard and fixed for passing final order before me in the presence of the above said Advocate for Applicant Bank and the Defendant having been set ex-parte and upon hearing the arguments of Counsel for Applicant Bank and upon perusing the material available on the records and having stood over for consideration till this day, this Tribunal delivered the following:
Issues for consideration
2 issues framed by the court
Whether the applicant bank proved its claim establishing the existence of loans and failure to pay.
Whether penal interest can be capitalised on the principal amount awarded pendente lite interest.
Parties & counsel
- applicant
IDBI Bank Ltd, Sivakasi Branch
Coram
Seema Sinha
Case details
As recorded by the court registry
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