Allowed

Canara Bank v. Smt. Bharatha

DRT1 Jul 2024OA/118/2024

Case brief

AI extract

What is this about?

In this Order, the Debts Recovery Tribunal allowed an application filed by Canara Bank for recovery of Rs.27,61,192.77 plus interest. The Defendants were declared jointly and severally liable to pay the amount, and the bank was entitled to proceed against mortgaged property.

What did the court decide?

Defendants to pay Rs.27,61,192.77 with interest; Applicant Bank entitled to proceed against mortgaged property and devolved assets.

Canara Bank versus Smt. Bharatha — Contract and Commercial Disputes | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

¶2

DATED THIS THE lST DAY OF JIJLY'2024

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

¶4

OA.No.11g ot 2024

¶5

Between:

¶6

Canara Bank, Shivajinagar branch, KotagallyMunnuru Kapu Sangam, Beside Hanuman Temple, New MPL No.3-4-198 & 3-7-133, Kotagally, Maisammaveedi, Varni road, Nizamabad, Telangana -503 001. Rep by its authorized officer

¶7

Applicant

¶8

VERSUS

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SmtBharatha, w/o Late BamanNarchand,

¶10

aged major, occ: business, female,

¶11

Sri Suraj, s/o Late Baman Narchand, aged major, occ: business, Male,

¶12

Sri Anesh, S/o Late Baman Narchand, aged major, Occ: business, male,

¶13

Sri Ramdas, S/o Late Baman Narchand, aged major, male Occ: business,

¶14

MsSita, D/o Late Baman Narchand, aged major, Female, occ: business,

¶15

All are R/o H./No.2-54/t, Chedmal village, Gandharimandal

¶16

(oA. No.118/2024)

¶17

Nizamabad - 503 114.

¶18

Legal heirs of BamanNarchand S/o Nyal Singh

¶19

Defendants

¶20

Counsel for the Parties:

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For the Applicant

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For the Defendants

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Smt Tarangini Pisipati

¶24

Ex pa rte

¶25

ORDER

¶26

The Applicant Bank filed the present oA against Defendants for recovery of a total sum of Rs.27,61,1g2.77ps (Rupees Twenty Seven Lakhs Sixty One thousand One Hundred Eighty two and paise Seventy Seven only) with interest @ 14.50o/o p.a with monthry rests from the 01.03.2024 ti, the date of rearization and in defaurt for sare of mortgaged immovabre property as described in the schedule to OA.

¶27

As per the averments in the apprication, the Appricant Bank states that defendant No.1 is the borrower who avaired credit facirities for agricurturar roans dated 19.4.2012. Defendant no.1 is the wife and defendants no.2 to 5 are children of borrower/_.mortgagor and hence the defendants are the legal hei r. The defendant availed OD loan of Rs.6 schedule mentioned property. The defen ex&fte6-lpEpgmerrt nd deed for Kisan OD dated 19.04.20t2. ities, the

¶28

(oA. No.118/2024)

¶29

defendants failed to comply the terms of sanction, hence the applicant bank was constrained to classify the account as NpA on 26.03.2019 and issued recall notice dated 09.03.2024. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

¶30

Defendants No.1 to 5 cailed absent and set exparte on 03.06.2024.

¶31

sri B. JaganNaik, chief Manager of the Appricant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.7.

¶32

Heard the Ld. Counsel for the Applicant Bank.

¶33

The point that arise for consideration is whether the Applicant Bank is entitled for the claim made in the OA against the Defendants as prayed for?

¶34

Defendants called absent and set exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited rerevant documents as Ex.A1 to A.7. In view of the above, I hold that the nt Bank has established their claim made in the OA again e".6rks#Bk hence the Appricant Bank is entitled to rec e ctafff maoe il\ne oA with future interest and costs. f:ⁿⁱ ,itl'l ?.Vl :

¶35

¶36

(oA. No.118/202a)

¶37

B. In the result, the present OA is allowed with costs, as under:

¶38

The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.27,61,Lg2.l7ps (Rupees Twenty Seven Lakhs Sixty One thousand One Hundred Eighty two and paise Seventy Seven only) with interest @ 14.50% p.a from the 01.03.2024ti11 the date of realization;

¶39

The Applicant bank is entitred to proceed against the mortgaged property as described in schedule to oA towards realization of the debt due.

¶40

The Applicant Bank is also entitled to proceed against the person and properties of defendants only to the extent of estate devolved upon them from the deceased borrower shri Late BamanNarchand towards realization of the debt due.

¶41

The Applicant Bank is entifled to the costs of the OA.

¶42

-id}
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.gost';ei+B weeks from the date of
,
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¶43

The Appticant snatt rite,6 .gost';ei+B receipt of order.

¶44

(oA.No.118/2024)

¶45

Issue Recovery certificate accordingly.

¶46

Communicate a copy of the order to the parties concerned.

¶47

(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 1't day of July,2024)

¶48

sdl(c. GoPtcHAND) PRESID!NG OFFICER

¶49

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Canara Bank v. Smt. Bharatha

Case brief

What is this about?

What did the court decide?

Canara Bank v. Smt. Bharatha

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

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