Allowed

Canara Bank v. Dwaraka Purified Drinking Water

DRT9 May 2023OA/415/2022

Case brief

AI extract

What is this about?

In an Original Application filed by Canara Bank for recovery of dues, the Tribunal allowed the application against defendants who remained ex-parte. The court held the defendants liable to pay the claimed sum with interest based on the evidence affidavit and marked documents.

What did the court decide?

Defendants liable to pay Rs. 27.92,737/- with interest; claim secured by hypothecation/mortgage; bank entitled to proceed against person and properties; costs awarded.

Canara Bank versus Dwaraka Purified Drinking Water — Contract and Commercial Disputes | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE^grH 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. 475 0F 2022

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Canara Bank Kadapa Main Branch Shankarapuram Kadapa, Kadapa Dist. Andhra Pradesh - 516 002. Rep. by its Chief Manager.

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...Applicant.

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Versu s

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M/s. Dwaraka Purified Drinking Water Rep. by its Prop: Vasam Venkateswarlu S/o Venkata Ramana, Aged: 43^years Occ: Business, D. No.8/38C Sivalayam Street, Chennur Kadapa - 516 162.

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Vasam Venkateswarlu S/o Venkata Ramana Aged: 43 years, Occ: Business D. No. B/38C, Sivalayam Street Chennur, Kadapa - 516 162.

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Yamarapu Subba Rayudu S/o Subbaiah Aged about: 43 years Occ: Business, D. No. t2/100 Vanam Veedhi, Chennur Kadapa - 516 162.

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......Defendants.

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Counsel for the Applicant : Mr. S. Sainathan. Defendant : Ex-oarte. d%*

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oA. 4L512O22

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:: ORDER::

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The Applicant Bank filed the present OA for the recovery of a sum of Rs.21,82,737/- from the defendants with future interest @9.550/o^p.a. with monthly rests from 01.06.2022 till the date of realisation with costs and sale of OA schedule properties.

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The defendants served with summons. The defendants were set ex-parte on 25.Lt.2022 as called absent and no representation.

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The Applicant Bank examined P. V. Krishna Prasad, Chief Manager, as AW-1 and marked 20 documents through him as Ex. A.1 to Ex.A.20.

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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 the Defendants and OA schedule properties?

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6, As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Ex. A.1 to Ex.A.20 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are liable to pay to the Applicant Bank the claim made in OA with costs.

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In the result, the present Original Application No.4lS/2022 is allowed as under: /Wn

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oA. 4L512022

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i) the Defendants are liable to pay to the Applicant Bank a sum of Rs.27,g2,737/_ along with interest @9.55o/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 assets described in the schedule of the OA and the applicant bank is entiued to proceed against the same for recovery of its dues;

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iii) the Applicant Bank is also entiUed to proceed against the person and properties of the defendants for realization of its balance dues; and

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iv) the Applicant Bank is entitled for the costs.

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B, 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 pronounced by me in the open court on this the 9th day of May, 2023) /7w*,/ (./

¶30

(RAMESHWAR KOTHE) PRESIDING OFFICER

Canara Bank v. Dwaraka Purified Drinking Water

Case brief

What is this about?

What did the court decide?

Canara Bank v. Dwaraka Purified Drinking Water

Case brief

What is this about?

What did the court decide?

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