Bank Of India vs Yadav Consultancy Services (P) Ltd.

The Supreme Court upheld the decision of the Bombay High Court affirming the award of Rs.1,62,82,079/- with interest at 24% to the respondent under the Recovery of Debts due to Banks and Financial Institutions (RDDBFI) Act, 1993, specifically citing Section 31-A. The Court established that the Recovery Officer's authority to appoint a Court Commissioner and direct payment of service charges was valid, and the appellant Bank's challenge to the Recovery Officer's orders was dismissed. The appeal was therefore rejected, affirming the lower court's ruling.