Allowed

Union Bank of India v. M/S. Ganapathi Building Constructions

DRT21 Mar 2024OA/153/2023

Case brief

AI extract

What is this about?

The Applicant Bank filed an original application for recovery of dues totaling Rs. 2,79,86,917.23 along with future interest against the Defendants who stood as guarantors and mortgagors. The Presiding Officer allowed the application after finding the bank's claim established.

What did the court decide?

Defendants directed to jointly and severally pay Rs. 2,79,86,917.23 with future interest at 15.60% p.a.; issue recovery certificate.

Union Bank of India versus M/S. Ganapathi Building Constructions — Banking and Recovery | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 21ST DAY OF MARCH'2024

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PRESENT; SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.153 ot 2023

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Between:

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Union Bank of India, Nayeemnagar branch, Warangal, Telangana State Represented by its Chief Manager

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Applicant

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VERSUS

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M/s. Ganapathi Building Constructions, Prop: Dumpala Ramesh, S/o ilaiah, aged 45 years, 5-Lt-341 / L,^{pochammakunta,} Nayeemnagar, Hanamkonda, Warangal Urban district.

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Also at

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Resident of H. No.4- 1-298, QOO^{St Joseph Church, Reddy} Colony, Hanumankonda, Hanamkonda Mandal, Warangal - 506 009.

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Sri Dumpala Ramesh, Prop: M/s. Ganapathi Building Constructions, S/o Ilaiah, Aged 45 years, R/o H.No.4-1-298, QPg^{St Joseph Church, Reddy} Colony, Hanumankonda Hanamkonda Mandal, Warangal - 506 OO9.

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SmtDumpala Sreelatha, w/o Dumpala Ramesh, aged 40 years,

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i zlulnryr *
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¶14

(OA.153 of 2023)

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R/o H.No.4-1-298, Opp St Joseph Church, Reddy Colony, Hanumankonda, Hanamkonda Mandal, Warangal - 506 009.

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Sri Anishettyparameshwar, Major, R/o H.No.4-6-123l3, Near AGR Gardens, Srinivas Hospitals, Kothur, Reddy puram, Hanamkonda.

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Defendants

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Counsel for the^parties: For the Applicant For the Defendants

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Sri P. Balaji Exparte

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ORDER

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1' The Applicant Bank fired the present oA against Defendants for recovery of a total sum of Rs.2,79,g6,917.23ps (Rupees Two crores seventy Nine Lakhs Eighty six thousand Nine Hundred seventeen and paise Twenty three onry) with future interest @ 15'600/o p.awith monthry rests from date of the apprication tiil the date of realization and in default for sale of mortgaged properties as described in the schedule to OA.

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As per the averments in e Applicant Bank states that defendant No.1 represented by defendant no.2 as i 3 and 4 stood as guarantors to the ant no.1 concern.

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(oA.1s3 of 2023)

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Defendants 1 and 2 availed Rs.200 lakhs and UGECL facility of Rs.40.00 lakhs vide sanction letter dated 20.12.202L. The defendants executed demand promissory note, letter of continuity form, letter in form 2A, interest agreement and guarantee deed dated 20.L2.2021. The defendants mortgaged the schedule mentioned property as a security for the due repayments of loans and defendants 3 & 4 personally guaranteed the repayment of said loan. The defendants 2 and 4 also executed memorandum of deposit of title deeds in respect of schedule properties (item no.s 1 to 4) as a security for repayment of amount due. After availing the loan facilities, the defendants failed to comply the terms of sanction, hence the applicant bank was constrained to classify the account as NPA and issued demand notice dated 10.10.2022. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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Defendants called absent and set exparte on 13.11.2023.

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Sri Vikas Kumar, of the Applicant Bank exa m ined himself as AW.1 relevant documents, which are

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marked as Ex.A. 1

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.1, r'r r.rl{.1-

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Heard the Ld. Cou

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(OA.153 of 2023)

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The point that arise for consideration is whether the Applicant Bank is

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entitled for the claim made in the OA against the Defendants as prayed for?

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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 relevant documents as Ex.A1 to A.14. In view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants and hence the Applicant Bank is entiued to recover the claim made in the OA with future interest and costs.

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

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The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.2,79,86,9L7.23ps (Rupees Two Crores Seventy Nine Lakhs Eighty Six thousand Nine Hundred Seventeen and paise Twenty three only) with future interest @ 15.60% p.a from date of the applicationtill the date of realization;

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The Applicant bank rd against the mortgaged immovable prope schedule to OA towards tu realization of the le.bt due. r-' i',

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(0A.1s3 of 2023)

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the Applicant Bank is arso entiiled to proceed against the person and properties of defendant No.2 to 4 and properties of defendant no.lfirm towards realization of the debt due.

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The Appricant Bank is entifled to the costs of the oA.

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13' The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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Issue Recovery certificate accordingly.

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communicate a copy of the order to the parties concerned.

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(Dictated to the P'A', transcribed by her, corrected, signed and pronounced by me in the open court on this the 21't day of March, 2024)

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sd/(G. GOPTCHAND) PRESIDING OFFICER

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u t '''.'-

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TRUE COP)r 0g,?^*JA Asst. Ragisfrar DPI-I,^{fi YDEfir:; ii,4O.}

Union Bank of India v. M/S. Ganapathi Building Constructions

Case brief

What is this about?

What did the court decide?

Union Bank of India v. M/S. Ganapathi Building Constructions

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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Case details

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