Allowed

Union Bank of India v. M/S Osr Infra Private Limited

DRT15 May 2024OA/12/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an original application filed by Union Bank of India against four defendants. The debt was recovered ex-parte as the defendants failed to appear. The court held them jointly and severally liable to pay the claim amount with future interest and costs, based on marked documents and an evidence affidavit.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 15,14,17,056.77 with interest; OA secured by mortgage; recovery certificate issued.

Union Bank of India versus M/S Osr Infra Private… — Contract and Commercial Disputes | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD

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DATED THIS THE 15th DAY OF MAY, 2024

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PRESENT: SH. RAMESHWAR KoTHE, B,com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 12 OF 2023

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Union Bank of India Hi Tech City Bra nch,

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Madhapur, R. R. District.

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Rep by its Chief t4anager.

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-....Applica nt.

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Versus

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M/s.OSR Infra Private Limited.,

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Rep by I\4 r. t4 a d d ipat la Vamsidhar,

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Managing Director,

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Plot No.40, 41, 3'd Floor,

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Ventureast Plaza, Road No.2,

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Financial District, Nanakramguda, Hyderabad, Tela nga na- 50003 2.

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M r.l*4addipatla Vamsidhar, S/o.MVR Prasad, Major,

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Villa No.62 and 63, NSL Orian Villas, Besides Raidurgam Police Station,

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Seriling a m pa lly. Hyderabad -500032.

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Maddipatla V R Prasad

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S/ of Sri.M.V.Ramanaiah, Major,

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R/o H. No.8-2-309/ 12,

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D1 Trendsetville Road No.3,

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Police Station, Banjara Hills, Hyderabad - 500034.

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Also at:-

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Villa No.62 and 63, NSL orian Villas, Besides Raidurgam^potice station, /1,{f

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oA.NO.12l2023

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Serilinga^{mpa lly, Hyderabad-500032.}

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Mrs.MaddiPatla^{KalPana Prasad,} Partner: M/s.KPM^Warehousing Enterprises, Wife^{of MVR Prasad,} Major, Occ:^Business, PJo H. No.8-2-309/12, D1 Trendsetville^{Road No'3,} Police Station,^{Banjara Hills,} Hyderabad - 500034.

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Also at:-

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Villa No.62 and 63,^{NSL Orian Villas,} Besides Raidurgam^{Police Station,} Serilingampally,^{Hyderabad -500032.}

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...Defendants

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: M/s.P.Balaji Counsel for the Applicant Defendants : Exparte

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:: (LLLLB ::

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The Applicant Bank filed^{the present OA for the recovery a total} sum of Rs.15,14 ,L7 ,056.77ps^{with futureinterest @ 16.300/0} p.a. from the defendants^jointly and severally with^monthly rests from the date of Rling till the date of^{realization along with} costs and in default for sale of OA schedule^properties.

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Summons served on D3 through^{paper publication,whereas} summons served on D1,2 and 4. They were set exparte^on 29,08,2023 as called absent and no representation.

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The Applicant Bank examined Janmanchi Shashi^Kumar, Manager, as AW-1 and marked 13 documents through him as Ex. A.1ro Ex. A.13. ,ffir+\

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oA.NO.l2l2O23

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Ld. Counsel for the Applicant Bank reported orders may be

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passed through merits. perused the material placed on record.

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The point that arises for consideration is:_

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Whether the Appticant Bank is enti ed for the claim made in the OA against the Defendants and OA schedule properties ?

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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.13 marked on behalf of the Appticant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinuy and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result/ the present Original Apptication No.1212023 is allowed as under: -

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i) The Defendants are joinuy and severally liable to pay to the Applicant Bank a total sum of Rs.15/14,L7,056.7tps with future interest @14.30o/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 mortgage of properties described in the schedule annexed to the OA and the applicant bank is ,tui.,v

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(.,'^- ''r'

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oA.NO.12l2023

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entitled to^{proceedagainst 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} defendants for^{realization of its dues;}

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iv) the applicant^{bank is entitledfor the costs'}

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The Applicant Bank^{is directed to file Cost Memo within2 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,^{signedand pronouncedbyme in the open court on} this the 15th DaY of^MaY,2024).

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Ow'*' HnuesnwnR^KorHE) PRESIDING OFFICER

Union Bank of India v. M/S Osr Infra Private Limited

Case brief

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Union Bank of India v. M/S Osr Infra Private Limited

Case brief

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