Allowed

Canara Bank v. Sri Bassi Bicha @ Bassy Bitchya @ Bassi Bitchya

DRT8 Jul 2024OA/188/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant banking company's originating application against the defendant borrower. The court upheld the bank's claim for principal, interest, and future interest along with the Right to enforce recovery via mortgaged and hypothecated assets.

What did the court decide?

Awarded recovery of principal and interest on two loan accounts and authorized the bank to proceed against mortgaged and hypothecated assets.

Canara Bank versus Sri Bassi Bicha @ Bassy Bitchya @ Bassi… — Banking and Recovery | DRT (2024)

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IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD DATED THIS THE 8TH DAY OF JULY' 2024

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PRESENT: sRI GUMMADI GoPICHAND, PRESIDING OFFICER

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OA.No.188 of 2024

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Between :

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Canara Bank, Shivajinagar branch, KotagallyMunnuruKapu Sangam, Beside Hanuman Temple, New MpL No.3-4_199 & 3-7-133, Kotagally, Maisammaveedi, Varni road, Nizamabad, Telangana -503 001. Rep by its authorized officer

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Applicant

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VERSUS

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Sri BassiBicha @ BassyBitchya @.BassiBitchya, S/o Mangalya, 9I?!9,t"^{@ Manstu, ae6o ioout 44 yrs,} ucc; agricu.lture, male, R/o H.No.3_46, Lnadmal village, Gandharimandal, Nizamabad dist, Telangana _ 503 114.

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Defendant

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Counsel for the parties:

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For the Applicant

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For the Defendant

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Smt Tarangini pisipati

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Exparte

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ORDER

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The Applicant Bank filed the present OA against Defendant for

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recovery of a total sum of .-^{(RupeesTwenty five} Lakhs Thirty Four th and Twenty only ) r.€., -:.o8ilyrltl* ,. .\

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r.€.,

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(OA.No.1s8 of 2024)

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a) A sum of Rs.B7,864l- towards loan account no.1657840003015 with interest @ !2o/o p.a with monthry rests from 0r.04.2024 til the date of realization;

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b) A sum of Rs.24,46456/- towards loan account no.1657897000169 with interest @ 13olo p.a with monthly rests from 0L.04.2024 till the date of realization;

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and in default for sale of mortgaged property and hypothecated assets as described in the schedule to OA.

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As per the averments in the application, the Applicant Bank states that defendant is the borrower who avaired credit facirities for agricurturar roans dated 27.04.20i. The defendant avaired oD roan of Rs.5.00 lakhs by mortgage of schedule mentioned property. The defendant executed agreement and deed for Kisan OD dated 27.04.20tL. The defendant also availed Rs.6O,O0O/_ on hypothecation of standing crop on 07.O4.2ltl. After availing the roan facirities' the defendant faired to compry the terms of sanction, hence the appricant bank was constrained to crassify the account as NPA and issued recall notice dated 02.07.2022. Inspite of several requests and demands, the defendant did not clear,the outstanding. Hence this OA.

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Defendant called a

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6"%
il"ont ?i't'mr"'T 6.2024.
.', '1i^-
-"o-"vJ
$mqf;E/

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(oA.No.188 of 2024)

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Shri B. laganNaik, Chief Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are

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marked as Ex.A.1 to A.25.

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Heard the Ld. Counsel for the Applicant Bank.

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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 Defendant as prayed for?

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Defendant cailed 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.25. In view of the above, I hold that the Appllcant Bank has established their claim made in the OA against the Defendant and hence the Appricant Bank is entiued to recover the craim 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 Defendant is liable to pay to the Applicant Bank a total sum of Rs.25,34,32O/( ve Lakhs Thirty Four thousand Three hu )^i.e.,

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J oBJrzril :
Qr,,,,** )

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(OA.No.188 of 2024)

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a) A sum of Rs.B7,g64l- towards loan account no.1657g40003015 with interest @ !2o/o p.a from 0L.04.2024 till the date of realization;

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b) A sum of Rs.24,46456/- towards loan account no.1657897000169 with interest @ 13olo p.a from 01.04.2024 till the date of realization;

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The Applicant bank is entifled to proceed against the mortgaged

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property and hypothecated assets as described in schedule to OA

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towards realization oF the debt due.

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11' The Appricant Bank is arso entired to proceect against the person and properties of defendant towards rearization of the debt due.

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L2. The Applicant Bank is entifled to the costs of the OA.

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13' The Appricant sha, fire 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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Communi Spy^{of the order to the parties concerned.}

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her, corrected, signed and Dron

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1. ounced bY me in the open

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;08JIJLmt I (G. GOPICHAND)sd/-
r
PRESIDING OFFICER
/t."t?s17
f-o *'>u
^Asst. Rc'glstrar
oRr-t, HyoEqaaao.

Canara Bank v. Sri Bassi Bicha @ Bassy Bitchya @ Bassi Bitchya

Case brief

What is this about?

What did the court decide?

Canara Bank v. Sri Bassi Bicha @ Bassy Bitchya @ Bassi Bitchya

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

All orders in this case

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