The Tribunal allowed the Applicant Bank's application for recovery of dues totaling Rs. 34.39 lakhs from the Defendant borrower, who failed to clear agricultural loans.
The Defendant is ordered to pay Rs. 34,39,030/- with interest and costs; the Applicant Bank is authorized to proceed against mortgaged and other properties for realization.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERYTRIBUNAL-T AT HYDERABAD DATED THrs THE 8rH DAy oF JULy, 2024
PRESENT: sRI GUMMADI GOPICHAND, PRESIDING OFFICER
OA.No.1g6 ot 2O24
Between:
Canara Bank, Shivajinagar branch. KotagallyMunnuruKapu sangam, Beside Hanuman I"lqlu,New MpL No.3_4_198 & 3-7-133, Kotagally, 11,1_sam.ma.v9edi,Varni road, r\rzamabad, Telangana _503 001. Kep by its authorized oFficer
Applicant
VERSUS
Sri Lambadi Gulabsinoh @ Gulab Sinqn eamai.' l{o^.u-uo?,Sinsh,aged about 49 years, u.cc: agriculture, male, R/o H.No:;;; :!":frgt,DurgamSriram [tagar tha;a. candharimandal, NizamabaO-Olst,'-""", lelangana - 503 114.
Defendant
Counsel for the parties:
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For the Applicant 4\d
ru,un{i.#,eati E -q
For the Defendant : Exparte :r, li '*
;: OOJULMI
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oRDER li,.?.',t,
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1. The Applicant Bank fited the present "^ "r.,rcfuffidW,r,o"?ifli
recovery of a total sum of Rs.34,39,O3O/_ (Rupees Tharty Four
Lakhs Thirty Nine thousand and thirty only ) i.e.,
(OA.No.186 of 2024)
a) A sum of Rs.33,30,316/_ towards loan account no.1657897000166 with interest @ 2olo penal interest in addition to agreed interest @ 11% p.a, effective applicable rate of interest @ 13% with monthly rests from 0t.04.2024 till the date oF realization;
b) A sum of Rs.1,08,714l_ towards loan account no.1657g40003353 with interest@ 2o/o penal interest in addition to agreed interest @ Ilo/o p.a, effective applicable rate of interest @ 13olo p.a with monthly rests from 0t.04.2024 till the date of realization; and in default for sale of mortgaged properties and hypothecated assets as described in the schedule to OA.
2' As per the averments in the application, the Applicant Bank states that defendant is the borrower who avaired credit facirities for agricultural loans dated 27.O4.2Olt. The defendant availed OD loan of Rs.8.00 lakhs by mortgage of schedule mentioned properties. The defendant executed agreement and deed for Kisan OD dated 27.O4.2OlL The defendant also availecl Rs.1.00 lakh on hypothecation of standing crop on 30.]Z.2OI4. After availing the loan facirities' the defendant faired to compry the terms of sanction, hence the applicant bank was coDrtffi+t^ ^r^^:... -, dassify the account as NPA on 01.01.2015 and ated 02.07.2022. Inspite of several req uests,a nd.'ou.u n Jo,,luo:m:nds,the def6rrSntdid not ctear the outstanding. Hence this on. 0 I lut an *
t'11."i:, , '',' i' *O .9\ \Q;#nqW
(OA.No.186 of 2024)
himself as AW.1 and exhibited relevant documents, which are
marked as Ex.A.1 to A.20.
entitled for the claim made in the OA against the Defendant as
prayed for?
costs, as under:
<br>1nt *
(OA.No.186 of 2024)
and properties of defendant towards realization of the debt due.
of receipt of order.
2 issues framed by the court
Whether the Debt Recovery Tribunal is entitled to grant a recovery order against the defendant borrower for the outstanding loan amount?
Whether the bank is entitled to proceed against mortgaged and hypothecated assets for realization of the debt?
1 provisions across 1 enactments
Canara Bank
Gulabd Singh
Gummadigopichand
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
