Allowed

Canara Bank v. Raja Rajeshwari Traders and Others

DRT26 Jul 2023OA/865/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal-II at Hyderabad allowed an Original Application filed by a bank for recovery of dues. The court held the defendants, including legal heirs and a guarantor, liable to pay the claimed sum with future interest and costs, confirming the bank's right to proceed against secured assets.

What did the court decide?

Granted recovery of Rs. 24,63,892.00 with future interest @ 13.95 p.a., costs, and directed to issue Recovery Certificate.

Canara Bank versus Raja Rajeshwari Traders and Others — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY^{TRIBUNAL-II AT HYDERABAD}

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DATED THIS THE 26th DAY OF^{]ULY, 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: 865 OF 2022

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Cana Kad Rep.	ra apa by	Bank, Main Branch, its Chief manger.
VER	SUS
	1.	M/s.RajaRajeshwariTraders Rep,byProp,GuvvalaRaieswari, Wo.^{G,SiddaReddy(sinceDeceased).}
		Now,Rep.byLegalHeirs.
		1.G. SiddaReddy Slo.Pedda KasiReddy,
		2.G.VijayaLakshmi w/o.RamanaReddY
		3.G.VijayKumarReddY S/o.G.SiddhaReddy
		4.G. Sanjeev KumarReddY, S/o.G.SiddhareddY D.No.102/144,BynaPlalli Village, NagireddyCKDinneMQ, KadaPa.
	2. '	G.SiddaReddy S/o.Pedda KasiReddY, Aged 54^yearsOcc:Agriculture, D.No.102/144,BynaPalli Village,
		NagireddyCKDinneMQ,KadaPa'

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......Applicant

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OA No.86S/2022

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3.G.VijayaLakshmi Wo.RamanaReddv fs.9o^{+9y"u.r,oi.i'rouse}wife, D.No.102/155,BynapailiViltage, NagireddyCKDinneNq,XuJ#.
o.9,rUgV KumarReddy S/o.G.SiddaReddv fS.9a^{S7years, Occi Agricutture,} 3:I?_.^{r9?1y1.aynapa'irivilage,} t\agireddyCKDinneMe,KadJpa.
5.G.Sanjeev KumarReddy S/o.c.SiddaReddv. fO-9a^{SSyears,Occ;'Agricutture,} D..No.LOZ/L44,eynapaitiVifrage, NagireddyCKDinnel,1q,xuOJ#.
6.L.R.SekharReddv. S/o.f.y,KondaieddyMr. TutasiRam, lg:9.:9 y_ears,occ:Asricutture.^, lllslr:g.1y^{pa[iViilase,Nasireddy}cK urnneMe,Kadapa.
.......Defendants
Counselfor theApplicant CounselfortheDefendant Mr.S. Sainathan Ex-Parte ORDER

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The Applicant Bank filed the prcsent OA for the recovery of a total sum of Rs. 24,63,892.00ps from the Defendants joinUy and severally with future interest @ 14.25o/o p.a. with monthly rests from the date OL.Og.ZO22 of this Application till the date fu;*

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OA No.865/2022

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of realization along with costs and for sale of OA schedule assets.

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Summons served on D1 to 6 through paper publication, the defendants were set exparte on 70.04.2023 as called absent and no representation,

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The Applicant Bank examined Deepankar Mishra, Chief

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Manager as AW-l and marked 31 documents through him as

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Ex. A.1 to Ex. A. 31.

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Heard the Ld. Counsel for the Applicant Bank, perused 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 Schedile assets?

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As stated sup.a, the Defendants remained ex_parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.31 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the 6th Defendant and O_2 to D_ 5 to the extent of estate of late Guvvala Rajeswari now lying in their hands are liable to pay the OA claim to the Applicant Bank with future interest and costs. ,ntWru - L/'<'>

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OANo.855/2022

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In the result, the^present Original^{Application No.865/2022is} allowed as under:^-

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i) The 6th Defendant as^guarantor and defendants 2 to 5 being legal heirs of D-1 late Smt. Guvvala Rajeswari to the extent of her estate of now lying in thelr hands; are liable to^pay to the Applicant Bank a sum of Rs. 24,63,892.00ps with future interest @ 13.95o/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 hypothecation/mortgage of properties described in the OA schedules and the applicant bank is entitled to^proceed against the same to realise its debt;

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iii) the applicant bank is also entitled to^proceed against the^person and^properties of 6th defendant for realization of its dues;

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iv) the applicant bank is entitled for the costs.

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t,. ihe Applicant Bank is directed to flle Cost Memo within 2 weeks from the date of receipt of this Order.

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q Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno. corrected, signed and pronounced by me in the open court on this the 26$ dayofluly,2023).

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Ow"*

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(RAMESHWAR KOTHE) PRESIOING OFFICER

Canara Bank v. Raja Rajeshwari Traders and Others

Case brief

What is this about?

What did the court decide?

Canara Bank v. Raja Rajeshwari Traders and Others

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

Parties & counsel

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Case details

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