Constitutional Bench of the Debts Recovery Tribunal-I at Hyderabad allowed the original application filed by Union Bank of India for recovery of a loan amount with interest by the respondents jointly and severally.
Respondents to pay Rs. 23,61,223.82 with interest from 01.09.2022. Bank entitled to proceed against mortgaged and respondent properties.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 24TH DAY OF JULY 2023
PRESENT: SRI GUMMADI GOPICHAND, PRESIDING oFFIcER
OA.No.291 oJ 2022
Between:
Union Bank of India, Branch at Maripeda, Maripeda mandal, Mahabubabad district Represented by its Manager and Principal Officer
Applicant
VERSUS
Defendants
(OA.No.29L/20221
Counsel for thepa rties: For the Applicant : Sri P. Balaji For the Defendants : Expa rte
ORDER
2' As per the averments in the apprication, the Appricant Bank states that the defendant No.2 as proprietrix of defendant no.1 company availed agricultural term loan for purchase of Harvestor of Rs.18.39 lakhs, The defendants executed composite agreement, guarantee agreement dated 30'11.2017. Defendant no.3 stood as guarantor and the said faci'ties were primariry secured by hypothecation of said harvestor ..and persona{. guarantee of D.3.The said facirities were coilateraily -''."..:'. -':-i.t. 7'.33eitured'oymortgqgeof schedure property by deposit of titre deeds ;':' ,i.,''r' t.:, .:( with Applicant barilt'on ii 29.rr.2or7. After availing the loan facilities, ri , 11,r - I ' ,:,, che' deibrid;;ts r:iirgo to compry the terms oF sanction, hence the . --r ..*. ...i
loA.No.29r/2022)
applicant bank was constrained to crassify the account as NpA and issued legal notice dated 02.ll.2O2l. Inspite of several requests and demands, the defendants did not crear the outstanding. Hence this oA.
..,::e]tablishedtheir claimmade in the OA againstthe Defendantsand
;y,'jl'ence tne ei'fnip\ Bank is entitled to recover the ctaim made in the
t, i,f 'll .i and costs.
is allowed with costs, as under: 3
loA.No.297/2022)
corrected, signed and pronounced by me in the open
sd/-
(G. GOPTCHAND) PRESIDING OFFICER
€fi,:,':r/ o#li,',,rttu"ooo' '
1 issue framed by the court
Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants as prayed for?
Union Bank of India
M/s. Sri Vigneswara Transport
Smt G. Nagachandra
Balakishan
GummaDi GopiChand
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
