Allowed

Karnataka Bank Limited v. Mrs.Kethoji Lakshmi

DRT15 Sept 2023OA/108/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application for recovery of a debt. The bank was awarded the principal sum with converted interest rates, secured by mortgaged property, with permission to realize dues against the defendants.

What did the court decide?

Recovery of Rs. 24,13,052.88 plus future interest at 9.15% p.a. secured by mortgaged property; issue of Recovery Certificate.

Karnataka Bank Limited versus Mrs.Kethoji Lakshmi — Banking and Recovery | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 1sth DAY OF SEPTEMBER, 2023

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PRESENT: SH. MMESHWAR KOTHE, B.Com., L.LB. (Hons.). M A PRESIDING OFFICER

¶3

Original Application No: 108 OF 2022

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Karnataka Bank Ltd., # 6-3-1219/24, Opp: Chinmava Vidayalaya, Ummanaqar, Begumpet, Hyderabad-500016. Rep by its Branch Manager.

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.....Applica nt.

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Versus

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Mrs. Kethoji Laksmi

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W/o. K. Vittat, Aged: 66 years, Occ: House Wife, R/o. H. No.13_1112 Saniay Nagar, Malkajgiri, Hyderabad 500047, Telangana State.

¶9

Mr. Kethoji Venkata Chary S/o. Kethoji Vittat, Aged: 51 years, Occ: Employee, R/o. H.No. 13_112; Sanj€y Nagar, Malkajgiri, Hyderabad 500047, Telangana Saate.

¶10

Mr. Kethoji Akash Babu S/o. Kethoji Venkata Charv ased: 27 i"u.s, oii ErpiJv"", R/o. H.No. 13-112, Sanj€y Na9ar, Malkajgiri, Hyderabad 500047, Telangana State.

¶11

Mr. Kethoji Abhitash Babu S/o. Kethoji Venkata Charv. Aged; 25^years, Occ: Empioyee, R/o. H.No. 13-112, Sanjay Nagar, Malkajgiri, Hyderabad 500047, Telangana State.

Ary.-"

oA.NO.108/2022

Mrs. Kethoji Samrita D/o. Kethoji Venkata^Chary Agedi 24 Years, Occ:^Employee, R/o. H.No. 13-112, Sanjay Nagar, lYalkajgiri,^Hyderabad 500047, Telangana^State

¶16

...Defendants

¶17

Counsel for the APPlicant

: Mr. N Rama Rao

Defendants

: Exparte

::^g-&LqB ::

The Applicant Bank^{filedthe present OA for the recoverya total} sum of Rs.24,13,052.88ps^{from the defendantsjointly and} severally with future interest @^{18'20o/o p.a. withmonthly} rests from the date of application^{till the date of realisation} along with costs and^{in defaultfor sale of OA schedule property.}

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They were set exparte^{on 26.09,2022 as called absent and no} representation.

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The Applicant Bank^{examined laksmanKumarL.L.V.,Asst.} Branch Manager, as AW-1^{and marked 15 documents through} him as Ex. A.1 to Ex. A.15.

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Heard the Ld. Counsel^{for the Applicant Bank and perused the} material^placed on^record.

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The^point that arises for consideration^is:-

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Whether the Applicant Bank^{is entitled} for the claim made in the OA^against the Defendants and oA^schedule property? /il^rlr-/// '''\6'^' '-' -,/

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oA.NO.108/2022

¶29

¶30

As stated^{supra,the Defendantsremainedex-pafteThe} griaen.e lfiaavit^{coupled with the recitals ln thedocuments} rO., a*..^{A.1 to A 15 marked on behalf of the ApplicantBank} clinches^{the ctaim of the ApplicantBankagain*the Defendants'} rr"n.",rnorathattheDefendantsarejointlyandSeverallyliable oA claim^{to the Applicant Bank with future interest}

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," O"l "" and costs.

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Intheresult,thepresentOriginalApplicationNo'108/2022is allowed^{as under:-}

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The^{Defendantsare jointly and severally}

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i) liable to^{pay to the Applicant Bank a sum of} Rs 24,13'052'88ps^{with future interest @} 9.15o/o^{simplefrom the dateof applicationtill} the date^{of realization;}

¶35

the OA^{clalm is securedby way of mortgage}

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ii) of^{property described in the schedule} annexed^{to the OA and the applicant bank is} entitled^{to proceed against the sameto} realise^{its debt;}

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iii)^{the applicant bankis also entitledto proceed} against^{the person and Propertiesof} defendants^{for realization of its dues;}

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iv)^{the applicant bank is entitled for the costs'}

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¶40

oA.NO.108/2022

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The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 15h day of September, 2023) .

¶44

PRESIDING OFFICER

Karnataka Bank Limited v. Mrs.Kethoji Lakshmi

Case brief

What is this about?

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Karnataka Bank Limited v. Mrs.Kethoji Lakshmi

Case brief

What is this about?

What did the court decide?

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