Disposed

Bank of Baroda (Vijaya Bank) v. Chethan Kumar M

DRT29 Aug 2023OA/1268/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal-I, Bengaluru, allowed an ex parte interlocutory application by Bank of Baroda seeking attachment of respondents' properties. The court directed defendants to furnish security equivalent to the claim; failure to do so would result in the attachment order being finalized.

What did the court decide?

Defendants directed to furnish security equivalent to the claim amount or show cause; failure to comply will result in the ex parte attachment order being allowed. Service notice sent by RPAD.

Bank of Baroda (Vijaya Bank) versus Chethan Kumar M — Contract and Commercial Disputes | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-I, KARNATAKA AT BE GALURU

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Dated this the 29th day of August 2022

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PTesent: STi IMTIAZ ALI

Presiding Officer

t.A.No,t572l2023

o.A. No.125al2023

BETWEEN:

Bank of Baroda,

Head office: lYondvi, Baroda, Gujarat State

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Branch:

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Vidyanagar Branch, International Airport Road, Vidyanagar Cross, Bengaluru North, Bengaluru 562 157 Represented by its Manager P. Venkata Reddy

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AND:

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,. PETITIONER/ APPLICANT BANK

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Mr Chethan Kumar M S/o Muniyappa Aged about 39 years,

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Smt. Bhavya S.N W/o Chethan Kumar M Aged about 36 years,

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Both are residinq at No. 24. Shettygeri Village, Doddajala Post, Jala Hobli, Eengaluru 562 157

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Mr Rumi M. Gyara, Slo Late Minoo A. Gyara, Aged about 76 years, Residing at No.33,

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1.A.No.157212023 in O.A.No.1268/2023

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Benson Cross Road, Benson Town, Bengaluru 560 046

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Legacy Global Projects^(P) Ltd., Registered Office at No.333, Thimmaiah Road, Bengaluru 560 052, Represented by its Directors, Mr B.H. Krishnamufthy and Mr Sanjay Shetty

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RESPONDENTS DEFENDANTS

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EX PARTE AD INTERIM ORDER^{ON IA NO.157212023}

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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 total sum^{of Rs.30,58,663.69together} with agreed rate of interest, costs,^chargesetc.

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The above Interlocutory Application^{is filed by the} Applicant Bank with affidavit^{of its Manager, Mr P' Venkata} Reddy, seeking to^grant an^{order of attachmentbefore} judgment of the properties mentioned in the I Schedule B and C and II Schedule Property^{belonging to the Defendants,in} the interest of^justice and^{equity.In the affidavit, inter alia, it} is contended that the Defendants^{No'3 and 4,under a} Tripartite Agreement, have^{promised to executea saledeed in} respect of the^property described^{in the I Scheduleof the IA} in favour of Defendants No.1^{and 2 and to depositthe original} sale deed with Applicant^Bank to^{create equitablemortgage.}

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1.A.No.157212023 in o.A.No.1268/2023

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It is contended that on their assurance, the Applicant Bar,k sanctioned Housing Loan to Defendants No.1 and 2 on the security of the II Schedule B and C property. The Applicant Bank disbursed substantial loan amount in favour ol' Defendants No.3 and 4 on request and authorization of Defendants No.1 and 2. As the Defendants No.3 and 4 have not executed the sale deed in favour of the Defendants No.1 and 2 and not delivered the original sale deed to create equitable mortgage as security and fufther, they are making hectic attempt to dispose of the property described in the II Schedule B and C, the Applicant Bank has sought to allow the present I.A. as prayed for. Applicant Bank apprehended if the present I.A. is not allowed as prayed for, it will be put to irreparable hardship and injury.

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It appears that the Applicant Bank has filed the IA on the premises that the Defendants No.3 and 4 may dispose <.rf the property described in the II Schedule B and C, in favour of any other agency or third party. It cannot be disputed that the amount in question is increasing by adding interest and admittedly the amount involved is a huge sum. Considering the huge amount of OA involved in this case, and balance of convenience, the present IA is to be allowed, if the

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1.A.No.157212023ⁱⁿ O.A.No.1258/2023

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Defendants fail^{to furnishsecurity equivalentto claim amount,} by keeping open^{the merits of the case and withoutprejudice} to the rights of^{both the parties. By doing so, no prejudice'} nor harm nor^{loss will be caused to the Defendants'As the} Applicant Bank^{has prima facie establishedthe essential} ingredients for^{granting an ex parte ad interimorder, I} proceed to Pass following:

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ORDER

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Defendants are^{hereby directedto furnish security} equivalent to^{OA claim amount on or before the} next date of^{hearing or to appearand show cause} why the Defendants^{should not furnish security,} failing which^{interim relief sought inIA} No.157212}23^{will stand allowed'}

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Serve notice to^{the DefendantsNo} '^{1 to 4 on IA by} RPAD.

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I SCHEDULE^PROPERTY

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(BELONGS TO DEFENDANTS^{2 & 3)} SCHEDULE 'A'^{PROPERTY_ (LARGERPROPERTY)}

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All that^{piece and parcelof converted land bearing portion of} Sy.No.262^{(Old Sy.No.46lP7), measuring1 acre situatedat} Doddajala Village,^{lalaHobli, Bengaluru NorthTaluk'} Bengaluru and bounded^on:

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1.A.No.157212023 in O.A.No.1268/2023

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East by Land bearing Survey No.266, West by Land bearing Survey No.263, North by Land bearing to the Developer, South by Remaining portion of land bearing Survey No.262

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SCHEDULE 'B' PROPERTY

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All that proportionate undivided share/interest of about 377 Sq.ft. comprised in Schedule 'A' Property above.

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SCHEDULE 'C' PROPERTY

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Residential unit/Apartment (partly constructed) bearing No.A205, measuring 850 sq.ft. Super Built-up areas comprising living, Dining, 2-Bedrooms, 1-Toilet, 1-Balcony, Kitchen, situated on Second Floor together with the right to use one (1) Car Parking Space in the Basement along with proportionate share in common areas such as passages, lobbies, lift, staircase and other common amenities provided in multistoried residential building viz. LEGACH VIVIENDA; (Approximate value of the property is Rs.10,00,000/-).

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II SCHEDULE PROPERTY

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(Belongs to Defendants 1 & 2)

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All that piece and parcel of the property bearing No.24, Shettigere, Doddajala Post, lala Hobli, Bengaluru-562157,

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1.A.No.1572l2023 in O.A.No.1268/2023^'t.

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measuring East to West:^34O ft,^{North to South:40 ft, and} bounded as follows:

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East by : Road,

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West by : Empty Land,

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North by : House belonging to^{Mr Channakeshava (brothet'} of Chetan Kumar),

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South by : Commercial shop -^{Lakshmi Channakeshava} Engineering Works^{(Approximate value of the} Property is Rs.25,00,000/-).

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For compliance/hearing/further^{proceedings beforeRegistrar}

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call on 15.1L.2O22.

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PRESIDING OFFICER DRT.I, BENGALURU

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{lsriaSh*

Bank of Baroda (Vijaya Bank) v. Chethan Kumar M

Case brief

What is this about?

What did the court decide?

Bank of Baroda (Vijaya Bank) v. Chethan Kumar M

Case brief

What is this about?

What did the court decide?

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