Allowed

Union Bank of India v. Sri Ramanna Lukka

DRT18 Sept 2023OA/811/2022

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 a loan sum of Rs. 24,65,832.32 plus future interest and costs from the defendants, holding them jointly and severally liable.

What did the court decide?

Defendants directed to pay Rs. 24,65,832.32 with future interest and costs; bank entitled to proceed against mortgaged property and defendants' assets.

Union Bank of India versus Sri Ramanna Lukka — Contract and Commercial Disputes | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE l8th DAY OF SEPTEIVIBER, 2023

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

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Original Application No: 811 OF 2022

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Union Bank of India Balanagar Branch, Rep. by its Chief lv'lanager. .....Applicant. Versus 1. Sri Ramanna Lukka S/o. L. Srinivasa Rao Aged: 50 Years, Occ: Self Employed, 5-5-35/29O/ A, Mytri Na9ar, Behind Metro Shopping Malla, Kuktpally, Hyderabad-500072. Also at: Flat No.4O2,4th Floor, Swapna Sree Residency, H. No. 5-35-322, Plot No. 90, Sai Baba Colony^phase I, Mytri Nagar,Kuktpa y-500072. 2. Smt. Nagalakshmi Wo.^Sri Ramanna Lukka Aged: Major, 5-5-35/29O/ A, Mytri Nagar, Behind Metro Shopping Malla, Kuktpally, Hyderabad-500072. Also at: Flat No. 4O2,4th Floor, Swapna Sree Residency, H. No. 5-35-322, Plot No.90, Sai Baba Colony^phase I, Mytri Nagar,Kuktpalty-500072. ...Defendants 5""

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oA.NO.811/2022

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Counsel for the Applicant

Ms. Sangeeta Jaiswal

Defendants

Exparte

:; qLLEB ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.24,65,832.32ps from the defendants joinuy and severally with future interest @ 9.650/o p.a. with monthly rests from 77.O9.2022 till the date of realisation along with costs and in default for sale of OA schedule property.

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Summons served on D1 and 2 through paper publication. They were set exparte on 05.06.2023 as called absent and no representation.

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The Applicant Bank examined Mohammad Ashraf, Asst. Manager, as AW-1 and marked 14 documents through him as Ex. A.1 to Ex. A.14.

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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 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.14 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are join y and severally liable ,fui.^u

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oa.No.811/2022

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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 present Originat Application No.811/2022 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. 24,65,832.32ps with future interest @9.65010 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 of property described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

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iir) the applicant bank is also entitled to proceed against the person and properties of 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 Certificate accordingly.

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Communicate a copy of this order to the parties concerned. {Didated^to the stenq^{corrected,signed} and^pronounced by me in the open court on this the 18n day of September, 2023) .

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d'w**o ffir.resnwrn xorxe; PRESIDING OFFICER

Union Bank of India v. Sri Ramanna Lukka

Case brief

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Union Bank of India v. Sri Ramanna Lukka

Case brief

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