Allowed

Union Bank of India v. Sona Collections

DRT25 May 2023OA/352/2022

Case brief

AI extract

What is this about?

In this Debts Recovery Tribunal order, the court examined the evidence filed by Union Bank of India in an Original Application seeking recovery of dues from three defendants. The defendants remained ex parte. The court held the defendants jointly and severally liable for the claimed amount along with interest and costs, allowing the application.

What did the court decide?

Defendants ordered to pay Rs.1,03,15,405.20ps with future interest; claim secured by OA schedule properties; applicant entitled to costs.

Union Bank of India versus Sona Collections — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 25TH DAY OF MAY, 2023

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

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oA, NO. 352 0F 2022

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Union Bank of India (e-Andhra Bank) Assets Recovery Branch (ARB)Hyderabad, 249BRf . 1't Floor S.R. Nagar, Hyderabad-500038 Rep. by its Authorised Signatory. ....Applicant. (Amended as per order dated 07.02.2023 in IA.264/2023).

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Versus

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M/s. Sona Collections - Rep. by its Proprietor Mrs. S. Neeraja Shakalli W/o Mr. S. Sudhir Kumar

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Aged about 54 years, Occ: Business Shop No. H. No. 4-5-44, Sultan Bazar Hyderabad - 500 095, Telangana State.

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Mrs. S. Neeraja Shakalli W/o Mr. S. Sudhir Kumar Aged about 54 years Occ: Business, H. No. 4-1-1056 Boggulkunta, Tilak Road Hyderabad - 500 001. Telangana State

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Mr. S. Sudhir Kumar S/o S. Krishna Rao Aged: 59 years Occ: Business R/o H. No. 4-1-1056 Boggulkunta, Tilak Road Hyderabad - 500 001, Telangana State. ,. . Defendants. u/A ry{*

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oA. !5217022

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Counsel^{for the APP|icant} Defendants

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Ms. Tarangini^PisiPati. Ex-parte.

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:: ORDER^::

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The Applicant^{Bank filed the present OA for the recovery of} sums of^{Rs.87,55,748.57Psunder loan account No'0840-} 311OOOOO8O3,^{Rs.11,81,878'73Psunder loan accountNo'} OB4O3O1OOO34545^{and Rs'3,77,777'90Psunder loanaccount} 10o/o ind

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No.O84O3O10^{0034457 with future interest@11'600/o} ' 11.50%^{p.a. respectively with monthly rests' totallingto} Rs.1,03,15,405.20Ps^{from the Defendants 1 to 3 jointly and} severally from^{01'06.2022till realisation along with costs and} sale of OA^{scheduleassets.}

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The defendants^{were servedwith summons'The defendants} were set exparte^{on 12.09'2022as called absent and no} representation '

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The Applicant^{Bank examinedPramodSingodia, ChiefManager} as AW-1 and^{marked 48, documents through him as Ex' A'1to} Ex. A.48.

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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}

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oA. 3s2/2O22

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the Defendants and the OA schedule properties?

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As stated supra, the Defendants remained ex_parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.48 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.

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In the result, the present Original Application No.352/2022 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.1,03,15,405.20ps i.e., Rs.87,55,748.57Ps under loan account No. 084031100000803, Rs.11,81,878.73ps under loan account No.084030100034545 and Rs.3,77 ,777 .90Ps under loan account No.

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084030100034457 with future interest @7.50o/o^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/mortgage of properties described in the schedules annexed to the OA and the applicant bank is entitled to proceed against the same to rea tise its dues.offi*

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oA. !s212022

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i) the applicant^{bank is also entitled to proceed} against the^{person and properties ofthe} defendants for^{realization of its dues; and}

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ii) the applicant^{bank is entitledfor the costs'}

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B. The Applicant Bank is directed^{to file Cost Memo within2 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,signedand pronounced by me in the open court on} this the 25th^{daY of MaY,2023).}

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ry{,e MESHWAR KOTHE) PRESIDING OFFICER

Union Bank of India v. Sona Collections

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Sona Collections

Case brief

What is this about?

What did the court decide?

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