DRT Allows Loan Recovery Because Borrower Failed to Repay Car Loan Dues After Account Became NPA

State Bank of India Vs Nityanand Pawaskar (DRT Mumbai) The matter concerns an application filed under Section 19(1) of the Recovery of Debts due to Banks and Financial Institutions Act, 1993, later renamed the Recovery of Debt and Bankruptcy Act, 1993. The application sought recovery of ₹10,74,796 as on 04.03.2014 along with future interest and enforcement of the hypothecated security. The claim arose from a car loan facility availed by the defendant from the State Bank of Bikaner and Jaipur. The defendant applied for financial assistance through a loan application dated 22.12.2011. The bank...