Allowed

Union Bank of India v. Pathakamuri Sujatha

DRT22 Dec 2023OA/613/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Union Bank of India for recovery of Rs. 55.52 lakhs from two defendants, holding them jointly and severally liable based on unchallenged documentary evidence since the defendants remained ex parte.

What did the court decide?

Defendants ordered to pay Rs. 55.52 lakhs with interest; OA claim secured by mortgage; bank entitled to realize against assets and properties; costs awarded.

Union Bank of India versus Pathakamuri Sujatha — Banking and Recovery | DRT (2023)

¶1

IN THE DEBTS RECOVERY^{TRIBUNAL-II AT HYDERABAD} DATED THIS THE 22"d^{DAY OF DECEMBER,2023}

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

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Original Application^{No: 613 OF 2023}

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Union Bank of India, (formerly Corporation Bank) Branch office at 4/659, Chintalarayungudi^Veedhi, Tadipatri, AnanthaPur, Andhra Pradesh-515411. Rep. by its Authorized Officer.

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.....Applicant'

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Versus

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Pathakamuri Sujatha, w/o. P. Nagaraju, Aged: 54 Years, Female, Occ: Business, R/o. 11-512, Aravind Nagar, Narpala Village, Near ShePherd^School, Anantapur, Andhra Pradesh-515001.

¶8

Nutanapati Deepa, Wo.^{N. Chithambar,} Aged: 43 Years, Female, Occ: Business, R/o. 11-512, Aravind Nagar, Narpala Village, Near Shepherd School, AnantaPur, Andhra Pradesh-515001.

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Also at:

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Door No. 6-5-486, Sri Nilayam, Justice lv'l Ranga Reddy^House, 1't Floor, Near Ram Nagar Bridge, Ana ntapur- 515004

.. DeFendants

firy:"""

oa.No.613/2023

Counsel for the Applicant

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Defendants

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Ms. Tarangini pisipati

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Exparte

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;: ORDER::

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The Applicant Bank filed the present OA for the recovery a sum of Rs.55,52,302- as on 04.07.2023 from the defendants joinUy and severally with future interest @ !4.O5o/o p.a. with monthly rests from 05.07.2023 till the date of realization along with costs and in default for sale of OA schedule assets.

¶20

Summons served on D1 and 2. They were set exparte on 03.11.2023 as called absent and no representation.

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The Applicant Bank examined L. Lohith, Branch Manager, as AW-1 and marked 13 documents through him as Ex. A.1 to Ex. 4.13.

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4, 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 assetsT

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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.13 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinuy and severally liable AX*

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oa.No.513/2023

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to^pay the oA claim^{to the Applicant Bank with future interest} and costs,

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In the result, the^{presentoriginalApplication No.613/2023is} allowed as under:^-

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i) The Defendants are^{jointly and severally} liable to^pay to the^{Applicant Banka sum of} Rs-55,52,3O71- with^{future interest @} 77.75o/o p.a- simple from^{the date of} application till the^{date of realization;}

¶30

ii) the OA claim is^{secured bY way of} mortgage/hypothecation of^{assetsdescribed} in the schedules^{annexed to the OA and the} applicant bank is^{entltled to proceed against} the same realise^{its debt;}

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

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

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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 Certifi cate^accordingly.

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Communicate a copy of^{this order to the partiesconcerned.} (Dictated to the steno, corrected, si8ned^{and pronounced by me in theopen courton} this the 22"d^{Dayof December,2023).}

¶36

W"
ESHWAR KOTHE)
PRESIDING OFFICER

Union Bank of India v. Pathakamuri Sujatha

Case brief

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Union Bank of India v. Pathakamuri Sujatha

Case brief

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