Allowed

Canara Bank v. Krishnareddy

DRT13 Sept 2023OA/1131/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Karnataka, passed an ex parte ad interim order restraining respondents from alienating, selling, or creating third-party interests in specific mortgaged immovable properties during the pendency of the arbitration application filed by Canara Bank for debt recovery.

What did the court decide?

Orders restressing defendants from disposing, selling, transferring or alienating the immovable properties listed in the schedule or creating third-party rights therein.

Canara Bank versus Krishnareddy — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-I, KARNATAKA AT BENGALURU

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Dated this the 13th day of September 2023

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Present: Sri IMTIAZ ALI

Presiding Officer

tANo.467l2O23

O.A. No.t13t l2OZ3

BETWEEN:

Canara Bank,

Iragampally Branch, Chintamani Taluk, Chikkaballapura District Karnataka-563 125

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AND:

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.. PETITIONER/ APPLICANT

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Mr Krishnareddy, S/o Chikka Subbanna B, Bathalahalli Village, Mindigal Hobli, Chintamani Taluk, Chikkaballapura District, Karnataka-563 125

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Mr Srikanta K.N., S/o Narayanaswamy, Kyasageri, Shidlagahatta Taluk, Chikkaballapura District, Karnataka-563 125

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Smt. Nagamani 8.K., Wo^Srikanta K.N., Kyasageri, Shidlagahatta Taluk, Chikkaballapura District, Karnataka-563 725

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.. RESPONDENTS/ DEFENDANTS

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1.A.No.467l2023 in O.A.No.1131,/2023

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EX PARTE AD INTERIM ORDER ON IA No.467l2O23

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The present OA is filed by the Applicant Bank against the Defendants for issuance of recovery certificate and other reliefs for recovery of a sum of Rs.21,91,289/- together with further agreed rates of interest, costs, charges, etc.

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The above Interlocutory Application is filed by tire Applicant Bank with affidavit of its Branch Manager, Sri Ravikumar T.N., seeking to pass an order of temporary injunction, restraining the Defendants No.1 to 3 or any one claiming under them from alienating or in any way creating third-party interest over the immovable properties of the Defendants mentioned in the schedule. In the affidavit, inter alia, it is contended that though the immovable properties listed the schedule have been mortgaged, the Applicant Bank apprehends that the Defendants are making efforts to alienate the schedule properties and create third-party interests therein with intent to obstruct, delay or frustrate the execution of any order for the recovery of debt that may be passed against them. It is further contended that the interests of the Applicant Bank should be adequately protected at this stage in an expedient manner to secure the ends ofjustice. Hence, the Applicant Bank has sought to allow the above I.A. as prayed for.

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1.A.No.46712023 in O.A.No.1131/2023

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It appears that the^{petitioner/Applicant} Bank has filed the above I.A. on the premise that Defendants may alienate or dispose of in any way creating third-party interest on the immovable properties morefully described in the schedule, Considering the huge amount of O.A. involved in this case, ancl balance of convenience, the present IA is to be allowed by keeping open the merits of the case and without prejudice to the rights of both the parties. By doing so, no prejudice, no harm and no loss will be caused to the Defendants. As the Applicanl Bank has prima facie established the essential ingredients for granting ex parte ad interim order of injunction, I proceed to pass following:

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ORDER

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Defendants No.1 to 3, their agents,

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representatives, assigns, etc., or any other person/s claiming under them are hereby restrained from dealing with, disposing of, selling, transferring, alienating, encumbering, parting with possession, creating third-party right(s), title, interest and claim of any nature whatsoever in any manner in respect of the immovable schedule properties, during the pendency of the OA.

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1.A.No.46712023 in O.A.No.1131/2023

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Issue summons on OA and notices on^{I.A. to}

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Defendants/Respondents by^{RPAD. Liberty is granted}

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to Defendants to apply before this^Tribunalfor

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modification, variation or cancellation^{of this order.}

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MORTGAGED PROPERTY- SCH^EDULE

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Description of the Schedule^{property with buildings}

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sl. No.	Survey No.	Extent	Village	Boundaries
1	34	1acre 7.04 guntas	Bathalahally village, Murugamalla hobli Chintamani	N-Vanke S-Road E-LandofBS NagarajaRao W-Land ofVenkata Reddy"d"Schedule Hissedar
2	3s/s	11.08 guntas	Bathalahally village, Murugamalla hobli Chintamani	N-LandofVenkata reddy "d"Schedule Hissedar S-Landof Yandapally Venkatarayappaanci Nelavanki Munishami E-LandofAnnoji ' Rao W-Land ofVenkata Reddy "d"Schedule Hissedar
3	22/p- 33	30 guntas	Bathalahally village, Murugamalla hobli Chintamani	N-Land ofThoti Vennkatraravanappa S-Land ofVenkata Reddy "d"Schedule Hissedar E-Landof GundlapalliEerappa W-Landof Gundlapalli Narsasimhappa

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1.A.No.46712023 in O.A.No.1131/2023

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sl. No.	Survey No.	Extent	Village	Boundaries
4	107/L	10 guntas	Bathalahally village, Murugamalla hobli Chintamani	N-Vanke S-Vanke E-Landof Acchhanna W-LandofVenkata Reddy"d"Schedule Hissedar
5	32	1acres 6.08 guntas	Bathalahally village, Murugamalla hobli Chintamani	N-LandofChavan Yallappa S-Land ofVenkata Reddy"d"Schedu!e Hissedar E-LandofBovi Venkataswami W-LandofBS NagarajaRao
6	22/p- 35	23 guntas	Bathalahally village, Murugamalla hobli Chintamani	N-Bande S-Road (P.W.D. Road) E-Landof Junjanahalli Narayanaswarny W-Landof Na

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For compliance / steps / further proceedings before Registrar

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call on L9.L2.2O23.

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{rashI}

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\ 'rr'r'vq (IMTIAL ALI) PRESIDING OFFICER DRT.I, BENGALURU

Canara Bank v. Krishnareddy

Case brief

What is this about?

What did the court decide?

Canara Bank v. Krishnareddy

Case brief

What is this about?

What did the court decide?

What the court decided

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