Allowed

Bank of India v. Dwarakamai Packagig Represented

DRT27 Jul 2023OA/923/2022

Case brief

AI extract

What is this about?

In Original Application No. 923 of 2022, the court allowed the bank's claim against defendants jointly and severally liable for dues exceeding Rs. 80 lakhs. The recovery certificate was issued based on ex-parte evidence.

What did the court decide?

Declaration of joint and several liability for approx Rs. 80 L with interest; direction to issue recovery certificate; entitlement to costs.

Bank of India versus Dwarakamai Packagig Represented — Insolvency and Bankruptcy | DRT (2023)

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

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DATED THIS^{THE27TH DAY OF JULY, 2023}

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PRESENT:^{RAMESHWHARKOTHE, B.COM',LL.B'(HONS' ), M.A.} PRESIDING^OFFICER

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Original^{ApplicationNO: 923 of 2022}

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Between:

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Bank of^India Kukatpally^{Branch, I't floor,} ADR Estate,^{BhagYanagarColonY,} Kukatpally,^{Medchal Malkajgiri District,} Hvderabad-50005^5. Represented^{by its Constituted Attorney'}

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......Applicant

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And

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1.	M/s.Dwarakamai^Packaging Represented^bYitsProPrietrix Smt.Durga^{Rani Koduri} AtPlot No.4A,^{Phase-I, IDA,} Pashamylaram,^IsnaPur, Sanga ReddY-502307.
2.	Smt.Durga^Koduri W/oSri.Srinivasa^RaoKoduri, Aged 50^{years, Occ:Business,} Rfo.FlatNo.103,^{H'No.22-158/3/103,} Sundaram^Residency, Jayanagar Colony,^{Opp:LadderSchool,} Kukatpally,HYderabad-500072.

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.......Defendants

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Counsel for the^APPlicant

M/s.D.Brahma ReddY

Defendants Ex pa rte

o4.923/2022

:: O R D E R ::

The Appticant Bank fited the totar sum of -,.rr,.r,:;::::t,"^ l"j.:'" j".";; "; Rs.76,63,691.60ps under Cash Credit Loan, a sum of Rs.3,93.403.88ps under FITL Loan and a sum of Rs.5,199.07ps under Current Account frc severa r ry with interest ., ;: Jn. ":":"#:::1.::'[,,T; rests plus 2o/o penal interest from date of application till the date of realisation along with costs.

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Summons served on D1 through paper publication, whereas summons served on D2. They were set exparte on 10.03.2023 as called absent and no representation.

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The Applicant Bank examined p.Rama Krishna Sai Nithin, Officer, as AW-1 and marked 17 documents through him as Ex.A.1 to Ex.A.17.

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Heard the learned Counsel for the Applicant Bank and perused the material placed on record.

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The point that arise for consideration is:

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Whether the Appticant Bank is entitled to proceed against the detendants as prayed for?

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As stated supra, the defendants remained ex-parte. The Evidence Affidavit of AWl coupted with the recitals in the documents viz., Exs. A.1 to A.17 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 dw.*

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oA.92312022

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and severally^{liable to pay to the Applicant Bank the claim} made in OA^{with future interest and costs'}

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In the result,^{the present OriginalApplication No:'92312022is} allowed declaring^that;

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i) the Defendants^{are jointly and severally} liable to^{pay to the Applicant Bank a total} sum of Rs.80,62,294'55ps^{i'e', a sum of} Rs.76,63,691.60ps^{underCash CreditLoan'} a sum of^{Rs.3,93,403'88psunder FITL Loan} and a sum of^{Rs,5,199'07psunderCurrent} Account with^{further interest @ 10'15% p'a'} simple from^{the date of application till} realization;

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ii) the Applicant^{Bank is entitled to proceed} against the^{person and properties of the} Defendants towards^{realization of its dues;}

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iii) the Applicant^{Bank is entitled to the costs of} the OA, including^{the Advocatefee'}

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B. The Applicant Bank^{is directedto 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'} (Dictated to the Steno, corrected, signed^{andpronounced by me in the open courton} this the 2lh day of luly,²⁰²³⁾

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K{$e

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MESHWAR KOTHE) PRESIDING OFFICER

Bank of India v. Dwarakamai Packagig Represented

Case brief

What is this about?

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Bank of India v. Dwarakamai Packagig Represented

Case brief

What is this about?

What did the court decide?

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