Allowed

Karnataka Bank Limited v. Smt Deepa Agarwal

DRT28 Aug 2023OA/924/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal II at Hyderabad allowed an application filed by Karnataka Bank Ltd for recovery from two defendants. The court, noting an ex-parte proceeding, held defendants jointly and severally liable to pay the claimed sum plus future interest and costs, secured by mortgage property.

What did the court decide?

Defendants directed to pay Rs.1,91,87,321.06 with future interest; bank entitled to proceed against scheduled mortgaged property and personal assets; Recovery Certificate issued.

Karnataka Bank Limited versus Smt Deepa Agarwal — Execution and Attachment | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 28TH DAY OF AUGUST, 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: 924 OF 2022

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tvlls. Karnataka Bank Ltd, Plot No.12, Kruthika Layout, Near Image Garden Function Hall, Serilingampa lly, I\4ad hapur Branch - 500081. Represented by its Manaqer.

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.....Applica nt.

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Versus

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Smt.Deepa Agarwal D/o. Sri. Pu rushotta m Agarwal, Aged a bout 49 years, Occ: Not Known, R/o.Flat No.502, NCL Ga nga Apartments, Nea r Shivalayam,^pet Basheerbad, Hydera bad- 500055.

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Sri. G. Dheeraj Kumar S/o.Sri.c.Surya Kumar, Aged about 52 years, Occ: Not Known, R/o. H.No.720, Sa rdar Bazar, Bolarum, Hyderabad-500010, Telangana.

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..... Defendants

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Counsel for the Applicant : Mr.G.Ramesh Babu

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Defendants

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i Expa rte tu". ' 'i'L-'

oA.92412022

:: ORDER::

The Applicant Bank filed the^present OA for the^{recovery of a} sum of Rs.1,91,87,321.06ps from the defendants^jointlyand severally together with future interest @ 13.85%^{p.a. including} 5olo^pendl interest with compounded monthly^rests from^{date of} applicatlon till the date of realisation along with costs, and^ln 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 04.05.2023 as called absent and^no representation.

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The Applicant Bank examined T.Bharath Kumar^Reddy, Assistant Branch Manaqer as AW-l and marked 10 documents through him as Ex. A.1 to Ex. A.10.

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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.10 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 0ry3o

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oA.924l2O2Z

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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 Original Application No.924/2022 is allowed as under: -

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i) The Defendants are joinfly and severally liable to pay to the Applicant Bank a sum of

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. Rs.1,91,87,321.06ps with future interest @ 9.95o/o p.a. simple from the date of application till the date of realization;

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ii) the OA clairn 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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iii) the applicant bank is also entiUed 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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B. 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 oider to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on thls the 28th day of August, 2023).

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7flry'* ffiesnweR^KorHE) PRESIDING OFFICER

Karnataka Bank Limited v. Smt Deepa Agarwal

Case brief

What is this about?

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Karnataka Bank Limited v. Smt Deepa Agarwal

Case brief

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