Allowed

Bank of India v. Annavaram Waddera Labour Contract Co. Operative Society Ltd.

DRT22 Sept 2023OA/970/2022

Case brief

AI extract

What is this about?

In ex-parte proceedings, the Tribunal held the Defendants jointly and severally liable to pay the Applicant Bank the principal sum with future interest and costs allowed the Original Application and directed issue of Recovery Certificate.

What did the court decide?

Defendants held jointly and severally liable to pay Rs. 29,09,911.00 with interest; Recovery Certificate issued.

Bank of India versus Annavaram Waddera Labour Contract Co… — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS TI{E 22"d DAY OF SEPTEMBER, 2023

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PRESENT: SH. MN4ESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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Original Application No: 970 OF 2022

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Bank of India, Khairatabad Branch, Ground Floor, PTI Building, A.C. Guards, Khairatabad, Hyderabad-500004.

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Rep. by its Constituted Attorney.

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.....Applicant.

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Versus

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M/s. Annavaram Waddera Labour Contract Co-operative Society Limited

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Rep. by its President Sri. S. Sai Mallu,

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D. No. 13-6-2515/66/8, Tulaija Bhavani Na9ar, Karwan, Hyderabad-500008.

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Sri. Shivaratri Sai Mallu, S/o. Uppalaiah, Occ: Business, R/o. H. No. 73-6-25L15/8O, Tulija Bhavani Nagar, Karwan, ...Defendants Hyderabad-500008.

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Counsel for the Applicant : Mr. D. Brahma Reddy

Defendants : Exparte

own

oA.NO.970/2022

:: ORDER::

The Applicant^{Bank filedthe presentOA for the recoverya total} sum of^{Rs.29,09,911OOpsfrom the defendantsjointly and} severally^{with futureinterest @ 11 25olo p'a compounded} monthly^{rests plus 2olo Penal interestfrom the date of} application^{tlll the date of realisation along with costs'}

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Summons served^{on D1 & 2 through} paper PUblication.^TheY called^{absent and no}

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were set^{exParteon 08 05 2023as} representation.

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The Applicant^{Bank examined E Thilagavathi' Senior Manager'} as AW-1^{and marked 24 documents throughhen as Ex A l to} Ex. A.24.

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Heard^{the Ld. counsel for the Applicant Bankand perused the} material Placed^{on record'}

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The^{pointthat arlsesfor consideration is:-}

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Whether^{the Applicant Bank is entitled} for the^{claimmadein the OA against} the Defendants?

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As^{stated supra,the Defendantsremainedex-parteThe} Evidence^{Affidavitcoupled with the recltals in the documents} viz., Exs.^{A.1 to A'24 marked on behalf of the ApplicantBank} clinches^{the claim of the Applicant Bank against the Defendants} Hence, I^{hold that the Defendants are jointly and severallyliable} to^{pay the OA claim to the Applicant Bankwith future interest} and costs. ?W'*

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oA.NO.97Ol2022

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In the result, the present Original Application No.97O/2O22 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 Rs,29,09,911.00ps with future interest @ LL,2So/o p.a. simple from the date of application till the date of realization;

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

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iii) 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 order to the parties concerned. l3]1?,"1^,:^{,|r" stenqcorrected,signed andpronorn.Ld byme in tt e open courton} this the 22"" day of September, 2023) .

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/w** (RAMESHWAR KOTHE) PRESIDING OFFICER

Bank of India v. Annavaram Waddera Labour Contract Co. Operative Society Ltd.

Case brief

What is this about?

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Bank of India v. Annavaram Waddera Labour Contract Co. Operative Society Ltd.

Case brief

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