Original Application filed by Union Bank of India for recovery of dues from defendants via Open Cash Credit and Term Loan facilities.
Defendants jointly and severally liable to pay Rs.94,19,494.27 with future interest and costs; Recovery Certificate issued.
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.
IN THE DEBTSRECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 22^dDAY OF JUNE, 2023
PRESENT: SH. RAMESHWARKOTHE,B.COM.,L.LB. (HONS.), M.A. PRESIDING OFFICER
Origlnal ApplicationNo: 531 OF 2022
Union Bank ofIndia Gajularamara m Branch Represented bY its14anager Plot No.10-11,Block No.32, Hal Colony Gagularamaram X Roads, Shapurnagar, Hyderabad, Telangana.
.....Applicant.
Versus
Age about 44 Yearc, Occ:Business, Flat No.5 and 6Part, 3'o Floor, Lake View APartments,Above Tirumala Furniture, PragathiNagar, Kukatpally, MedchalMalkajglri-500072.
Also at:Plot No.40, Prasanthi GoldenHills, Pragathi Nagar, KukatpallY, Hyderabad-500072.
... Defendants Mo
2
oa-stt/2022
Cou nsel for the Applicant Defenda nts
I\4s. D. Sangeeta Ja iswal Expa rte
:: ORDER::
1, The Applicant Bank filed the present OA for the recovery from the defendants joinfly and severaliy a total sum of Rs.94,19,49A.27ps i.e., a sum of Rs.86,7 0,82g.27ps undet Open Cash Credit Facility Account No.1126013100000274 and a sum of Rs.7,49,669/_ under Term Loan Account No.126030100096086 with future interest @ 1O.O5o/o p.a. with penal interest @ 2olo as on 16.05.2022 with monthly rests as per terms of sanction frcm 77.05.2022 till the date of realisation along with costs, and in default, for sale of OA schedule property.
Officer, as AW- 1 and marked 20 documents through him as Ex.
A.1 to Ex. A.20.
Whether the Applicant Bank is enti ed for the claim hade in the OA against /fu,> U//a
oA.s!tl2022
3
the Defendantsand OA schedule property?
oA.s31/2022
iii) the applicant bank is also entiUed to proceed against the person and properties of defendants for realization of its dues;
iv) the applicant bank is entitled for the costs.
3,o.T,[',: i:1i:.:"::;1".",i,t I i -'- g rd u I to r h e p a rti es co n ce r n ed . ttris,re zz" Jav oil;;.;;;;:signed and pronounced by me in the open court on
fi*;*o (RAMESHWAR KOTHE) PRESIDING OFFICER
2 issues framed by the court
Whether the applicant bank is entitled to the claimed amount against the defendants holding the OA schedule property?
Whether the defendants are jointly and severally liable to pay the bank's claim?
Union Bank of India Gajularamaram Branch
M/s. RS Fitness Planet
Sri Ravi Kiran Vangala
Sri. V. Haneesh Babu
Rameshwar Kothे
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
