The Tribunal allowed the Original Application filed by the Bank for recovery of a decretal amount and interest from legal heirs of deceased borrower and guarantor upon established evidence of default.
Defendants jointly and severally liable to pay Rs.33,80,176/- with interest at 13.80% p.a.; Bank entitled to proceed against mortgaged/hypothecated properties.
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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD
DATED THrS THE 26rH DAy OF ApRil-, 2023
PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER
OA.No.231 ot 2022
Between:
State Bank of India, Kosgi branch, main road, Kosgi, Mahabubnagar district, Telangana state.
Represented by its Chief Manager
Applicant
VERSUS
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:ig 26APRm rri
i\a ,j
W,-s'y
Defendants
(oA.No.231/2022)
Counsel for the Parties:
For the Applicant
Sri G. PrabhakarSarma
For the Defendants
Exparte
ORDER
(oA.No.231l2022)
memorandum of deposit of title deeds over immovable property more fully described in schedule A property. The said memorandum of deposit of title deeds was registered as document no.3256/2007 with office of Sub-Registrar, Kodangal, Mahabubnagar district. The defendants hypothecated all the citrus crop, sheds, equipments, submersible pumps, drip irrigation system, water house and other supporting equipments more fully described in Schedule B to OA. After availing the loan facilities, the defendants failed to comply the terms of sanction, hence the applicant bank was constrained to classify the account as NPA and issued legal notices dated 02.06.2020 and 01.07.2021.Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this oA.
!t
(oA.N0.231/2022)
- In the result, the present OA is allowed with costs, as under:
i) The Applicant Bank is 9;lifled to- ^, proceed trgainst the mortga ged property unq.Aiprriequt"jl'oihbtes as descri bed in the schedute "A & B' .o dn towardui"ariruiit\f the debt due. ii ii ,tk n..^^-\i ^i['-i: r ii,*., 2 6 APR 2m ;#
(oA.No.231/2022)
(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 26th day of April., 2023)
sd/-
(G. GOPTCHAND) PRESIDING OFF!CER
2 $ APn 70n
TRI..IE COPY I n h*-,e--r-a onu, Asst. xyaBpaaeD: Registrer >A/-' -'tt o <,/ -,t? L3
1 issue framed by the court
Whether the Annullable Bank is entitled to recover the claimed sum against the Defendants as prayed for?
State Bank of India, Kosgi branch
Sri Kothuru Venkat Reddy
Smt Kothuru Laxmamma
Sri Kothuru Sravan Kumar Reddy
Sri Kothuru Praveen Kumar Reddy
GUMMADI GOPICHAND
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
