Allowed

Bank of India v. Veeksha Health Care

DRT16 Aug 2023OA/77/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Bank of India for recovery of loan dues from the defendants. Being no-show, the tribunal found the defendants jointly and severally liable and directed the issuance of a recovery certificate.

What did the court decide?

Defendants directed to jointly and severally pay Rs.30,65,051.69 with future interest and costs; Recovery Certificate issued.

Bank of India versus Veeksha Health Care — Consumer Protection | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD DATED THIS THE 16S DAY OF AUGUST, 2023

¶2

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

¶3

Original Application NO: 77 OF 2023

¶4

Bank of India L.B. Nagar Branch - H.No. 3-8-110, Ground Floor, Opp: Vijayalaxmi Theatre, Chandrapuri Colony, L.B. Na9ar. Saroor Nagar Mandal, Ranga Reddy District -500074, Represented by its Constituted Attorney.

¶5

.....Applicant

¶6

VERSUS

¶7

M/s. Veeksha Health Care Represented by its Proprietor Sri. Bula Madhu Kumar, D. No.4-7-L7/3/2/7, Beside Vyjayanthi Theatre. Nacharam, Hyderabad-76,

¶8

And also at:

¶9

Plot No. A22, ACC Shed No.8, IDA, Nacharam, Hyderabad -76.

¶10

Sri. Bula Madhu Kumar, S/o Bula Chinna Veerriyya, Aged 41 years, Occ: Business, R/o H. No.4, Road No. 4, HMT Nagar, Nacharam, Hyderabad-76 .

¶11

And Also at:

¶12

D.No. 40-50-188, Jaya Prakash Nagar, Kancharapalem,Vishakapatnam-530008, Andhra Pradesh. ,t* ....... Defendants

¶13

OA No.77 12023

¶14

Counsel for the Applicant : Mr. D. Brahma Reddy Counsel for the Defendant : Ex-Parte

¶15

ORDER

¶16

The Applicant Bank filed the present OA for the recovery of a sum of Rs.30,65,051.69ps i.e. Rs.25,29,783.13ps and Rs. 4,89,341.56ps under Cash Credit Loan and Term Loan(GECL Loan) from the Defendants joinuy and severally with future interest @ 11.35olo and @ 7.85o/o p.a. compounded monthly plus 2olo penal interest from the date of application till the date of realization along with costs.

¶17

Summons served on D1 and 2 through paper publication. The

¶18

defendants were set exparte on 08.05.2023 as called absent and no representation.

¶19

The Applicant Bank examined Sri Ganesh Boddu, Credit manager as AW-1 and marked 23 documents through him as Ex. A.1 to Ex. A.23

¶20

Ld. Counsel for the Applicant Bank reported orders may be passed on merits. perused the material placed on record,

¶21

5, The point that arises for consideration is:

¶22

Whether the Applicant Bank is entitled for the claim made in the OA aqainst the Defendants? /n a" (,r |-r*tn

¶23

¶24

OA No-77 12023

¶25

As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.23 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.

¶26

In the result, the present Original Application No.77 /2023 is allowed as under: -

¶27

i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.30,65,051.69ps i.e. Rs.25,29,783.13ps and Rs. 4,89,341.56ps under Cash Credit Loan and Term Loan(cECL Loan) with future interest @ 7.85o/o p.a. simple from the date of application till the date of realization;

¶28

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

¶29

iii) the applicant bank is entitled for the costs.

¶30

The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

¶31

Issue Recovery Certifi cate accordingly.

¶32

Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed end pronounced by me in the open court on this the 16rh day ofAugust,2023).

¶33

Ow'* (MMESHWAR KOTHE) PRESIDING OFFICER

Bank of India v. Veeksha Health Care

Case brief

What is this about?

What did the court decide?

Bank of India v. Veeksha Health Care

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Bank of Baroda versus M/S Langei International

Uco Bank versus Smt Anju Rani Ghosh

Jagranath Chaudhary and Another versus Punjab National Bank

Paramjeet Singh versus Idbi Bank

Hdfc Bank versus Sh. Satish Kumar

Punjab National Bank versus Dilip Kumar Singh & Anr.