Federal Bank v. Vitthal
Case brief
What is this about?
Debts Recovery Tribunal allowed an application by Federal Bank Limited for recovery of loan dues. The court reduced the claim amount by deducting penal interest and adjusted future interest to 9% simple interest, directing recovery from mortgaged agricultural lands.
What did the court decide?
Defendants to pay Rs.32,97,064/- with future interest @9% p.a. from 19.10.2023; mortgaged properties secured for sale; Recovery Certificate issued.
What the court decided
Presented on .. 19.10.2023 Registered on .. 15.10.2024 Decided on .. 03.07.2026 Duration .. Y—M—D 02--08--14
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 455/2024.
The Federal Bank Limited,
A Banking Company within the meaning of Companies Act, 2013 (18/2013), having its registered office at Federal Towers, Alwaye, Kerala and branch at – ST Colony, Ground floor, Sangam Building, 100 Ft Road, Near Ganesh Mandir, Vishrambaugh, Sangli 416 415.
… Applicant
Versus
- 1 Mr. Vitthal Bharamu Hakke, Age 74 years, Occ. Agriculturist, R/o : 843, Ward No. 4, Khanderajuri Road, A/P Erandoli, Taluka Miraj, District Sangli 416 410.
- 2 Mr. Suresh Vitthal Hakke, Age 34 years, Occ. Agriculturist, R/o : 843, Ward No. 4, Khanderajuri Road, A/P Erandoli, Taluka Miraj, District Sangli 416 410.
- 3 Mr. Sharad Vithoba Hakke, Age 29 years, Occ. Agriculturist,
Sanap ( OA No. 455/2024 ) 1 of 6
Issues for consideration
2 issues framed by the court
Whether the applicant Bank is entitled to recovery of dues including penal interest and future interest.
Whether the mortgaged properties are validly secured for the adjudicated amount.
Parties & counsel
- applicant
Federal Bank Limited
- respondent
Mr. Vitthal Bharamu Hakke
- respondent
Mr. Suresh Vitthal Hakke
- respondent
Mr. Sharad Vithoba Hakke
Coram
Case details
As recorded by the court registry
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