Allowed

Union Bank of India v. Nutanapati Ramulamma

DRT22 Dec 2023OA/627/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by Union Bank of India for recovery of a sum of Rs. 57,83,284/- from the defendants jointly and severally, holding the evidence affidavit and documents sufficient to clinch the claim after the defendants remained absent.

What did the court decide?

Defendants to pay Rs. 57,83,284/- with future interest; applicant bank to proceed against mortgaged assets and defendant properties; recovery certificate issued.

Union Bank of India versus Nutanapati Ramulamma — Banking and Recovery | DRT (2023)

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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: 627 OF 2023

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U nion 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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Nutanapati Ramulamma, Wo.^Venkata Ramana, Aged: 32^years, Female, Occ: Business, R/o. # 1-1, IllurVillage, Anantapur, Andhra Pradesh-51561 1.

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Also at:

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R/o. 11-512, Aravind Nagar, Narpala Village, Near Shepherd School, Anantapur, Andhra Pradesh-515001.

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Nutanapati Deepa, Wo.^N. Chitham ba r, Aged: 43 Years, Female, Occ: Buslness, R/o. 11-512, Aravind Nagar, Narpala Village, Near Shepherd School, Anantapu r, Andhra Pradesh-515001. llry,'-

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oA,NO.627l2O23

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Also at: Door No.^{6-5-486,Sri Nilayam,} lustice^{M RangaReddy House'} 1st Floor, Near^{Ram Nagar Bridge'} '^{.. Defenda nts} Ananta Pur-^515004'

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Counsel^{for the APPIicant}

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Defendants

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: Ms.^{TaranginiPisiPati}

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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 total} sum of^{Rs.57,83 ,2A41-i'e' Rs 55'66'847/- and Rs'2'1-6'4371-} as on^{04.07.2023 From the defendantsjointly and severally} with future^{interest @ !4 'O5o/o p'a' and @ 10'90%p'a'} respectively^{with monthlyrests from 05 07 '2023 till the date of} realization^{along with costs and in default for sale of OA} schedule^assets.

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Summons^{served on D1 and 2They were set exparteon} 26.og.2023^{as called absent and no representation'}

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The Applicant^{Bank examlned L Lohith' Branch Manager' as} AW-1 and^{marked 20 documentsthroughhim as Ex A l to Ex'} A.20.

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Heard the Ld^{Counselfor the Applicant Bank and perused the} material Placed^{on record'}

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The^{point that arises for considerationis:-}

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Whether^{the Applicant Bank is entitled} for the claim^{made in the OA against} the Defendants^{and oA schedule} assets? //v#* (/'

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oa.No.627l2023

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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.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 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.62712023 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.57,83,2841- i.e. Rs.55,66,847land Rs.z,16,437l- with future interest @ ll.75o/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 mortgage/hypothecation of assets described in the schedules annexed to the OA and the applicant bank is entitled to proceed against the same realise its debt;

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iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues; and

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iv) the applicant bank is entitied for the costs.

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OY@

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oA.NO.62712023

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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, signed and pronounced by me in the open court on this the 22nd Day of December, 2023) .

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PRESIDING OFFICER

Union Bank of India v. Nutanapati Ramulamma

Case brief

What is this about?

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Union Bank of India v. Nutanapati Ramulamma

Case brief

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