Allowed

Bank of Baroda v. Late M Chandra Kala Reddy

DRT8 Dec 2023OA/244/2023

Case brief

AI extract

What is this about?

The DRT allowed the original application filed by Bank of Baroda. The court held the second defendant liable to pay the claimed sum with future interest and costs, relying on the deceased status of the first defendant and the.Evidence Affidavit. The bank is entitled to proceed against the hypothecated vehicle.

What did the court decide?

The 2nd Defendant is liable to pay Rs.58,16,945.19 with future interest; the applicant bank is entitled to proceed against the hypothecated vehicle and granted costs.

Bank of Baroda versus Late M Chandra Kala Reddy — Contract and Commercial Disputes | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 8th DAY OF DECEMBER, 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: 244 OF 2023

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Bank of Baroda, Jubilee Hills Branch, Plot No. 217, Road No. 17. Jubilee Hi s, Hyderabad-560033 Rep. by its Assistant General i4anager.

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.....Applicant.

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Versus

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Late M. Chandra Kala Reddv. D/o. Late M yella Reddy, Aged: 52^years, Occ: Deceased, Since Deceased and |^y^r_" ?i:::l l"d^by .h^{er Lesa I Rep resentati ve,} raman Jyothi Om Sai, S/o. Late I,t Chandrakata Reddy, Aged: Major, Occ: Business, R/o ,^{Fla.t No. A1208,AspireApartment,} lnorbit Mall Road, Serlingampalty, Madhapur, n yderabad -s6ood r.

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Jaman Jyothi Om Sai, S/o..Late Mundla Chandra kala Reddy, Aged: Major, Occ: Business, l/o.. flal^{No. A1208,AspireApartment,} Inorbit I\4all Road, Serlingampally, Madhapur, Hyderabad-5OOO81

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...Defendants

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Counsel for the Applicant

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Defendants

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: Mr. G. Venkat Sri Maithreya ,rrr.""O%A

oA,NO.24412023

:: Q-LLLB^::

The Applicant^{Bankfiledthe presentOA for the recoverya total} sum of Rs.58,16,945.19ps^{from 2nd defendant with future} interest @^{11.50o/op.a. frcm 2O.!2.2O22 till the date of} realization along^{with costs and default for sale of OA} hypothecatedvehicle.

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Summons served^{throughpaper publication, and set exparte on} 30.08.2023 as^{calledabsentand no representatlon.}

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The Applicant^{Bank examinedKota Phani, Power of Attorney} Holder, as AW-1 and^{marked 12 documentsthrough her as Ex'} A.1 to Ex. A.12.

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Ld. Counsel for the^{ApplicantBank reportedorders may be} passed on merits. Perused the material^{placed on record.}

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The^point that arises for^{consideration is:-}

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Whether the Applicant^{Bankis entitled} for the claim made in^{the OA against} the 2nd Defendant and^oA hypothecated vehicle?

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As stated supra, the^{2nd Defendantremained ex-parte.The} Evidence Affidavit coupled^with the^{recitals in the documents} viz., Exs. A.1 to A.12 marked^{on behalf} of^{the AppllcantBank} clinches the claim of the Applicant^{Bank against the Defendant.} Hence, I hold that the 2nd Defendant to the extent of estate^if deceased lst defendant lying in her hands, is liable to^pay the OA claim to the Applicant Bank with future interest and costs.

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/Yp

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oA.NO.244l2023

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In the result, the present Original Application No.244/2023 is allowed as under: -

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i) The 2nd Defendant is liable to pay to the Applicant Bank a sum of Rs.5g,16,945.19ps to the extent of estate of deceased M. Chandrakala Reddy lying in the hands of 2nd defendant with future interest @ 7.600lo 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 vehicle described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debu

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iii) the applicant bank is entifled for the costs.

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a 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 accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated,to the steno, corrected, signed and pronorn.Ld by me in tne open court on this the 8'" Day of December, 2023.

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PRESIDING OFFICER

Bank of Baroda v. Late M Chandra Kala Reddy

Case brief

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Bank of Baroda v. Late M Chandra Kala Reddy

Case brief

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