Kotak Mahindra Bank Limited v. Capital Protection Force Pvt. Ltd.
Case brief
What is this about?
Debts Recovery Tribunal allowed the bank's application for recovery of Rs.27,77,157.66 plus interest and costs against defaulted joint borrowers ex-parte.
What did the court decide?
Defendants held jointly liable to pay Rs.27,77,157.66 with future interest @17.46% p.a. and costs; Recovery Certificate issued.