In an ex-parte debt recovery proceeding, the Presiding Officer examined documents filed by the Applicant Bank and held the Defendant liable to pay the claimed amount with future interest and costs, ordering the issuance of a recovery certificate.
Defendant ordered to pay Rs. 51,28,168/- plus future interest and costs; recovery certificate to be 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 DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 19th DAY OF OSTOBER, 2023
PRESENT: SH. MI4ESHWAR KOTHE, B.Com., L.LB.(Hons.), lvt.A. PRESIDING OFFICER
Original Application No: 73 OF 2023
Indian Bank, Srinagar Colony Branch, Hyderabad. Rep. by its Chief Manager.
.....Applicant.
Versus
M/s. Susanka Enterprises, Rep. by its Proprietor, Rajyalaxmi Pagidi, w/o. Damodar, Aged: 36 Years, No.7-5-742/3,Vasavi Enclave, Old Alwal, Medchal, 500010. ...Defendant
Counsel for the Applicant : Mr. B. Damodar Reddy
Defendants
: Exparte
:: ILLLLR ::
(-t/
oA.NO.73l2023
2
9.25o/op.a. respectively monthly rests from 30.11.2022 tillthe date of realisation along with costs and in default for sale of OA hypothecated vehlcle.
Whether the Applicant Bank is entitled for the claim made in the OA against the Defendant and OA hypothecated vehicle?
i) The Defendant isliable topay tothe Applicant Bank a sumof Rs. Rs. 51,28,t681- l.e. a sum of Rs. 38,69,299l-,Rs. 85,653/-, Nv*. / . ,^--/^.\_tq,\r
3
oA.NO.7312023
Rs. 4,63,3021- and Rs. 7,09,9141- under Term Loan, OD Loan, FITL and Ind-GECLSCOVID with future interest @ 1oolo simple from the date of application till the date of realization;
ii) the OA claim is secured by way of hypothecation of vehicle described in the schedule annexed to the OA and the applicant bank is entiued to proceed against the same realise its debu
iv) the applicant bank is entifled for the costs.
K*-"ou (RAIVIESHWAR KOTHE) PRESIDING OFFICER
1 issue framed by the court
Whether the Applicant Bank is entitled to the recovery claim made against the Defendant and the OA hypothecated vehicle?
Indian Bank, Srinagar Colony Branch, Hyderabad. Rep. by its Chief Manager.
Mishreshwar Kothe
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
