Allowed

Bank of India v. Sri Bing Tarak Prabhu Goud

DRT24 Nov 2023OA/442/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by Bank of India against a defendant who remained in absentia. The court held the defendant liable to pay the due amount along with interest and costs, securing the claim via mortgage on schedule property.

What did the court decide?

Defendant ordered to pay Rs. 90,96,287.04 with future interest at 7.10% p.a. until realization; claim secured by mortgage; entitled to proceed against defendant's properties.

Bank of India versus Sri Bing Tarak Prabhu Goud — Banking and Recovery | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 24th DAY OF NOVEMBER, 2023

¶2

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

¶3

Original Application No: 442 OF 2022

¶4

Bank of India, Khairatabad Branch, Gorund Floor, P.T.I. Buildings, AC, Guards, Masab Tank Hyderabad-500004.

¶5

.....Applicant.

¶6

Versus

¶7

Sri. Bing Tarak Prabhu Goud, S/o. Bing Raju Goud, Resident of Plot No. 13, GR Reddy Nagar Colony, Kapra, ECIL Post, Hyderabad, Telangana-500062.

¶8

Also at: r-7-455 & 7-7-456, Near Hanuman Temple, Bakaram, Hyderabad-500080.

¶9

.,. Defendant

¶10

Counsel for the Applicant Defendants

¶11

; Mr. K.V. Nageshwara Rao :txoa.tefipzxrv

¶12

oa-No-44212022

¶13

:: ORDER::

¶14

The Applicant Bank filed the present OA for the recovery a total sum of Rs.90,96,287.O4ps from the defendant with future interest @ 9.10olo with compounded quarterly monthly rests till the date of realization along with costs and in default for sale of OA schedule property.

¶15

Summons served on sole defendant, he was set exparte on 06.04.2023 as called absent and no representation.

¶16

The Applicant Bank examined E. Thilagavathi, Asst. Manager, as AW-l and marked 15 documents through her as Ex. A.1 to Ex. A.15.

¶17

Heard the Ld. Counsel for the Applicant Bank and perused the material placed on record.

¶18

The point that arises for consideration is:_

¶19

Whether the Applicant Bank is entitled for the claim made in the OA against the Defendant and OA schedule property?

¶20

As stated supra, the Defendant remained ex_parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.15 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is liable to pay the OA claim to the Applicant Bank with future interest and costs. rfl$r9,,^*_ CL/ -_-r;n..\ "

¶21

oA.NO.44212022

¶22

¶23

In the resutt, the^{present Original ApplicationNo'44212022is} allowed as under:^-

¶24

i) The Defendant is^liable to^{pay to the} Applicant Bank a^{sum of Rs.90,96,287.04ps} with future interest @^{7.10o/op.a simple} from the date of application^{till the date of} realization;

¶25

ii) the OA claim is secured^{by way of mortgage} of property described in the^schedule annexed to the OA^{and the applicant bankis} entitled to^{proceedagainstthe same to} realise its debu

¶26

iii) the applicant^{bank is also entitledto proceed} against the^person and^propertiesof defendant for realization^{of its dues;}

¶27

iv) the applicant bank^{is entitled for the costs.}

¶28

B. The Applicant Bank is directed^{to file Cost lvlemowithin 2 weeks} from the date of receipt of this Order.

¶29

Issue Recovery Certificate accordingly.

¶30

Communicate a copy of this order^{to the partiesconcerned} (Dictated to the steno, corrected, signed and^pronounced by me in the open court^on thisthe 24s Day of Nov€mber,2023).

¶31

l%"* (RAMESHWAR KOTHE) PRESIDING OFFICER

Bank of India v. Sri Bing Tarak Prabhu Goud

Case brief

What is this about?

What did the court decide?

Bank of India v. Sri Bing Tarak Prabhu Goud

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Imbichikoya P K versus South Indian Bank

Bank of Baroda versus M/s Rongpi Tea Plantation

Hdfc Bank Ltd., versus T.Nagaraju

Ms E Smart Card Solution Pvt. Ltd. versus Punjab National Bank

Union Bank of India versus M/s Panuganti Tejaswi

Union Bank of India versus Mithra Coutures