Allowed

Bank of India v. M/S. Vijaya Enterprises

DRT19 Jun 2023OA/228/2022

Case brief

AI extract

What is this about?

In OA No. 228 of 2022, the Debts Recovery Tribunal allowed the Bank of India's application to recover specified loan amounts and interest from the proprietors and partners of the defendants, declaring them jointly and severally liable.

What did the court decide?

Defendants jointly and severally liable to pay total sum with interest; applicant entitled to proceed against hypothecated and personal properties. Recovery certificate issued.

Bank of India versus M/S. Vijaya Enterprises — Contract and Commercial Disputes | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE 19TH DAY OF JUNE'2023

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.228 ot 2(J22

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Between:

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Bank of India, Basheerbagh branch, Hyderabad, Telangana State.

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Represented by its constituted attorney

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Applicant

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VERSUS

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M/s. Vijaya Enterprises, Rep by its Proprietor Dake Vijaya Laxmi, Plot no.150, near Ramavath School, Subhash nagar, Jeedimetla, Hyderabad - 500 055.

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Smt Dake Vijaya Laxmi, w/o Dake Alexander, aged major, occ: business, R/o H.No.7-73811, Subhash nagar, Jeedimetla, Hyderabad - 500 055.

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Sri Dake Alexander, s/o Dake David, aged major,

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Defenda nts

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lOA.No.228/20221

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Counsel for the Pa rties:

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For the Applicant For the Defendants

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Sri Momin Mohammed Rafiq Expa rte

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ORDER

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The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.31,4Or415.O1ps (Rupees Thirty One lakhs Forty thousand four hundred Fifteen and paise one only) i.e., a) a sum of Rs.2,59,356,85ps in respect of term loan from defendants No.2 and 3 with interest @ 7.650/o p.a with monthly rests along with penal interest @ 2% p.a from the date of application till realization;

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b) a sum of Rs.15,20,730.15 in respect of term loan from defendants No.1 and 2 with interest @ 10.05o/o p.a with monthly rests along with penal interest @ 2o/o p.a from the date of application till realization;

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c) a sum of Rs.32,567.25ps in respect of FITL2 term loan from defendants No.1 & 2 with interest @ 11.10o/o p.a with monthly rests along with penal interest @ 2olo p.a from the date of application till : rea lization; : . :_ '\ ,r, d) a sum of Rs.2,81,203.12ps in respect of term loan from . . ,,defdfrffifits Ndi1 & 2 with interest @ 8.40olo^p.a with monthly rests

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¶24

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'vo ol alnpaqss

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eLll u! paqtJlsap se Iyadold palecaqlodrtq Jo ales roJ llneJap ut pue

¶27

luoglezr;eal llll uorle:r;dde Jo olep aLll ruorJ e.d o/oZ @ lsa.ralur ;euad qlran 6uole slsar {lq1uour qlrnn e.d o/os8.g @ }sarelul qllM z B I.oN sluepuaJap uoJJ ueol r!Ja1 1o pedsal ut sldgO.lgV,SL.sU Jo urns e (1

¶28

luorlezr;eer llll uorlecr;dde Jo alep aLll LllorJ e.d o/oZ @ 1se.ra1u1 ;euad qlrnn 6uoge slsal {lq1uoul qlran e'd o/oSB'9 O lsaJalu! L,lllM t pue Z.oN sluepuaJap uoJJ ueol ural 1o padsar ut S6.gbt,LB.sU Jo utns e (a

¶29

l uorlezr;ea_r

¶30

llrl^uorlef,ldde Jo^{alep aql} uorJ e'd^o/oZ O lseralur ;euad qlrnn 6uo;e

¶31

kzoz/szz'oN'vol

¶32

, L.lllM VO aqt u! apeu Lutel3 aq] ra^orar ol palttlua .!.1 *tyeg tueltiddv aLll aluaq pue sluepuaJac alll lsute6e vo ot.lt ul ep'e&,iur"tell JtaL,ll :.. . pal{stlqelsa seL,l Iueg lueltlddv alll lpr.ll plor.l I ,enoqe aql Jo Mat^ uI 'Bt'v o] rv'xf se sluaunsop lue^alal palrqrqxa eq pue peururexa seM rueg luelrlddv aqt Jo ler3uJo'r'/1 V'rueg luelrlddv aql Jo aspf, aLll ,L alprluelsqns 01 'auedxa las pue luasqe pallel araM sluepuaJap aql

¶33

aroJ^{pa^erd}

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se sluepuaJac aL{l lsureoe vo aLll ul apeur urelf, or.ll roJ pal}rlua s! rueg lueltlddv allt Jar.,llaqM sl uotlereptsuof, JoJ astre leLll lutod aLll- .g

¶35

'Iueg luel!lddv aLll JoJ lasuno3 .pl aLll preoH 's

¶36

'Bt'v o1 I'v'xf

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se palrerx aJe ql!r.,lM^,slueuln:op lue^elal paltqtllxa pue I.MV Se ,v Jlasutr.,l^pautulexe )ueg lue3tlddv aql Jo ra6eueN^{,qluelseupN.v} uqs

¶38

'tzoz't0'80 uo aupdxa los pue luasqe pallef oraM sluepuaJac .E

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'vo slr.ll of,uaH^.6urpuelslno aLll reals lou plp sluepuaJap aql 'spueulap pup slsanbal ;elanas Jo altdsul^{.zzoz.go.€z} palep af,rlou panssr pue zzoz't0'IE uo vdN se Junof,le aql fursselc ol peuteJlsuof seM rueq lue3tldde eql efuaq^,uorlcues Jo srtJal aqt Aldrrof, oJ pollpJ sluepuaJep aLll 'ser1r;r:e1 ueol aql 6ur;rene ralJv

¶40

ftzoz/azz'oN'vol

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lo^{A.No.228/2022)}

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In the result, the present OA is allowed with costs, as under:

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v. The Defendants are jointly and severally liable to pay to the Applicant Bank a total Rs.31,40,415.O1ps (Rupees Thirty One lakhs Forty thousand four hundred Fifteen and paise one only) i.e., a) a sum of Rs.2,59,356.85ps in respect of term loan from defendants No.2 and 3 with interest @ 7,650/o p.a from the date of application till rea lization;

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b) a sum of Rs.15,20,730.15 in respect of term loan from defendants No.1 and 2 with interest @ 10.05o/o p.a from the date of application till rea lization;

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c) a sum of Rs.32,567.25ps in respect of FITL2 term loan from defendants No.1 & 2 with interest @ 11.10olo p.a from the date of application till rea lization;

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d) a sum of Rs.2,81,203.12ps in respect of term loan from defendants No.1 & 2 with interest @ 8.40olo p.a with monthly rests along with penal interest @ 2% p.a from the date of application till realization;

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,346.95 in^respect of term loan from defendants 6.85% p.a from the date of application till

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(oA.No.22812022)

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f) a sum of Rs,75,434.08pIs in respect of term loan from defendants No,1 & 2 with interest @ 6.850/o p,a from the date of application till realization;

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10 The Applicant Bank is entitled to proceed against the hypothecated property as described in Schedule to the OA towards realization of the debt due.

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the Applicant Bank is also entitled to proceed against the person and properties of defendants No.2 & 3 and properties of defendant no.1 firm towards realization of the debt due.

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t2, The Applicant Bank is entitled to the costs of the OA.

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The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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Issue Recovery certificate accordingly.

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communicate a copy of the order to the parties concerned,

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(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open

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sdl --

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sdl -- TRuFa^cciY2 (G. GOPTCHAND) PRESIDING OFFICER ,*:,.WH'

Bank of India v. M/S. Vijaya Enterprises

Case brief

What is this about?

What did the court decide?

Bank of India v. M/S. Vijaya Enterprises

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

All orders in this case

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