Allowed

Kotak Mahindra Bank Limited v. Aliya Educational and Walfare Society

DRT7 Jun 2023OA/8/2022

Case brief

AI extract

What is this about?

In this ex-parte proceedings, the Debts Recovery Tribunal adjudged a claim of Rs. 33.63 lakhs against a society and its treasurer. The court relied on the evidence affidavit to hold the respondents jointly and severally liable, allowing the application and directing the issuance of a recovery certificate.

What did the court decide?

Defendants jointly and severally liable to pay Rs.33,63,632.75 plus future interest and costs; Recovery Certificate issued.

Kotak Mahindra Bank Limited versus Aliya Educational and… — Execution and Attachment | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE OTth DAY OF JUNE, 2023

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

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Original Application No: 08 OF 2022

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Kotak Ma h indra Bank Ltd., Having its Branch Office at # 6-3-1709/ t/P/3O2, 3'o floor, Jewel Pavani Towers, Rajbhavan Road, Somajiguda, H^ydera bad - 5 00 082. Represented by its Authorised Sig natory Legal Manager.

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.....Applicant.

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Versus

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Aliya Educational and Welfare Society Office at # 18-301/1, Srinivasa Colony, Hajipally, Shadnagar, Mahabubnagar-5092016. Represented by its Treasurer Mrs.Aliya Begum

¶8

Mrs.Aliya Begum Wo^Mohammed Abdul tabbar, Aged about 58 years, Occ: Business, R/o. H.No.18-289, Venkataramana Colony, Farooq Na9ar, Shadnaga r, Mahabu bnaga r-509216. .... Defendants

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Counsel for the Applicant : M.Srinivas Reddy Defenda nts ,Exeafte(fw

oa.8l2022

::^qB-p_L8 ::

The Applicant Bank filed the^present OA for the recovery from the defendants a sum of Rs.33,63,632.75ps together^with future interest @ 18o/o p.a. from the date of filing of the^present appllcation to till the date of reallsation along with costs, and^ln default, for sale of OA schedule Assets.

¶14

The Summons served on D1 and 2, they are set exparte on 18.08.2022 as called absent and no representation.

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The Applicant Bank examined Mr.Kakarla Balaji Rao,^Legal lvlanager, as AW-1 and marked 12 documents through him as Ex. A.1 to Ex. A.12.

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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 Assefs2

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled wlth the recitals in the documents viz., Exs. A.1 to A.12 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to^pay the OA claim to the Applicant Bank with future interest and costs. dw*

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oA.el2022

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In the result, the present Original Application No.8/2022 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.33,63,632.75ps with future interest @ 9.5olo^p.a simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of hypothecation of vehicles described in the schedules annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

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iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entitled for the costs.

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B. 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 according ly.

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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 7th day ofJune, 2023) .

¶30

O%* (RAMESHWAR KOTHE) PRESIDING OFFICER

Kotak Mahindra Bank Limited v. Aliya Educational and Walfare Society

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. Aliya Educational and Walfare Society

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Parties & counsel

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