Federal Bank v. Mandakini
Case brief
What is this about?
The Debts Recovery Tribunal allowed the bank's application for recovery of dues on the default of agricultural land loan borrowers. The defendants were ordered to pay the principal sum reduced by certain charges along with reduced future interest.
What did the court decide?
Direction to defendants to pay Rs. 28,27,700/- along with future interest at 9% per annum from 08.07.2022; authorization to sell mortgaged properties.
What the court decided
Presented on .. 08.07.2022 Registered on .. 21.01.2023 Decided on .. 09.07.2026 Duration .. Y—M—D 04--00--01
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 67/2023.
The Federal Bank Limited, A company incorporated and registered under Indian Companies Act, 2013 (18/2013) and within the meaning of Indian Companies Act, 2013, having its registered office at Federal Towers, Bank Junction, Alwaye, Ernakulum District, Kerala and branch at – Shop No.1, Building No. E, Sanghavi Township, Bhigwan Road, Baramati 413 102.
… Applicant
Versus
- 1 Mrs. Mandakini Sarjerav Jadhav, Age 47 years, Occ. Agriculturist, R/o – Jadhav Wadi, Kati, Taluka Indapur, District Pune 413 120.
- 2 Mr. Sarjerav Changadev Jadhav, Age 58 years, Occ. Agriculturist, R/o – Jadhav Wadi, Kati, Taluka Indapur, District Pune 413 120.
- … Defendants
Sanap ( OA No. 67/2023 ) 1 of 5
Appearances :- For Applicant Adv G.H. Bet i/b Adv Nikhil Barsode. For Defendants Ex parte.
Issues for consideration
2 issues framed by the court
Whether the applicant bank was entitled to recovery of the outstanding loan amount in the absence of the defendants.
Whether the quantum of future interest claimed was reasonable.
Parties & counsel
- applicant
Federal Bank Limited
- respondent
Mrs. Mandakini Sarjerav Jadhav
- respondent
Mr. Sarjerav Changadev Jadhav
Coram
Case details
As recorded by the court registry
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