Allowed

Union Bank of India v. Boppana Venkateswara Rao

DRT23 Aug 2023OA/723/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's application to recover Rs. 33.45 lakhs from defendants held jointly and severally liable, directing enforcement against mortgaged property and personal assets with future interest and costs.

What did the court decide?

Defendants ordered to pay Rs. 33,45,424.49 with future interest; bank entitled to proceed against mortgaged property and defendant's personal assets; Recovery Certificate issued.

Union Bank of India versus Boppana Venkateswara Rao — Execution and Attachment | DRT (2023)

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IN THE DEBTS^{RECOVERYTRIBUNAL'IIAT HYDERABAD} DATED THIS THE^{23,d DAY OF AUGUST,2023}

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PRESENT: SH.^{RAMESHWARKOTHE, B.COM.,L.LB.(HONS.), M.A.} PRESIDING OFFICER

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Original Application^{No: 723 OF 2022}

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Union Bank of^India, (e-Andhra Bank) IDA CherlaPallY, Hyderabad. .....Applicant. Versus Mr. Boppana^{VenkateswaraRao} S/o. Krishna^{Murthy,Aged: 51 Years,} Flat No. 501,^{Sri SrinivasaNilayam,} Vasavi colony,^{RoadNo. 1/a,} Saroornagar,^{HYderabad-500035} ...Defendant : Mr. Srinivasa^{Rao Chakrala} Counsel for^{the Applicant} Defendants : Exparte

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::^qLLEB::

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The Applicant^{Bankflled the presentOA for the recovery a sum} of Rs. 33,45,424.49ps^{as on 3L'07 '2022 from thedefendant} with future^{interest @ 9'650/0p'a' with monthly rests from} 31.07.2022^{till the date of realisation along wlthcosts and in} default^{for sale of oA scheduleprcpeftyt'fu<.Lt} L-/ -t>.1'-.

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oA.NO,723l2022

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The sole defendant was set ex-parte on^{11.04.2023after} forfeiting his right of fling written statement^{inspite of} adjournments.

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The Applicant Bank examined Gunkanti^{VUay Kumar, Asslstant} Manager, as AW-1 and marked^{19 documents through heras} Ex. A.1 to Ex. A.19.

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Heard the Ld. counsel for the Applicant^{Bankand 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 property?

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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.19 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. 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.72312O22 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs. 33,45,424.49ps with future interest @ 7ry,*

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oA.NO .723/ 2022

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9.650/o p.a. slmple from the date of application till the date of realization;

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ii) the OA ctaim^. rs secured by way of mortgage of property described in the schedule annexed to the OA and the applicant bank is entifled to proceed against the same to realise its debt;

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iiD the applicant bank is also entiued to proceed against the person and properties of defendant for realization of its dues;

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iv) the applicant bank is entiued 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. ino (Dictated to the steno, cor;ected tlleu, sio and pronounced by me in the open court on .rgned

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""^rr;1., "?orrr.i'

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ff*

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PRESIDING OFFICER

Union Bank of India v. Boppana Venkateswara Rao

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Boppana Venkateswara Rao

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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