Allowed

Canara Bank v. Sri Bassi Godhavari @ Godawari @ Godavari

DRT8 Jul 2024OA/189/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal I allowed the bank's recovery OA against the defendant. Establishing the debt of approx Rs.26.24 lakhs through agricultural loans and NPA classification, the court held the bank entitled to recover the sum with future interest and costs, including authority to proceed against mortgaged assets.

What did the court decide?

OA allowed; Defendant to pay Rs.26,24,960/- with future interest; authority to proceed against mortgaged assets and defendant's properties; Recovery certificate issued.

Canara Bank versus Sri Bassi Godhavari @ Godawari… — Contract and Commercial Disputes | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-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.189 ot 2024

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Between:

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Canara Bank, Shivajinagar branch, KotagallyMunnuruKapu 5angam, Beside Hanuman Temple, New MpL No.3_4_198 & 3-7-733, 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 BassiGodhavari @ Godawari @ Godavari, Y/:.^{t_1.*q:r,ao-ed about36 years,} m a I e, i. rrr o.'s^_ r ilz s, 3 :,:;ip.:,:: I l,^{rs -re} Mudhakapally, Sriramna Nizamabad dist,Tela

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Defendant Counsel for the ffi--e For the Applica t Tarangini pisipati For the Defenda 0 0 ss1 2p1, :t parte ***W 1' The Appricant Bank fired the present oA against Defendant for recovery of a total sum of Rs.26,24,96O/_ (Rupees Twenty six Lakhs Twenty Four thousand Nine Hundred and Sixty onty )

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i.e.,

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(OA.No.189 of 2024)

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a) A sum of Rs.24,82,252/- towards loan account

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no.1657897000228 wtth interest @ 16.25olo p.a with monthly rests from 0L.04.2024 till the date of realization;

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b) A sum of Rs.L,42,7OBl- towards loan account no.1657840003716 with interest @ L2.2Oo/o 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 76.L0.2072. 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 16.t0.2012. The defendant also avaited Rs.1.00 lakh on hypothecation of standing crop on 05.11.2015. 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 requeStsanddemands,Rtdidnotileartheoutstanding,

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HencerhisoA

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ff. <br>3. Defendant called
7.06.2024.
'. .2

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(OA.No.189 of 2024)

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d Shri B. JaganNaik, 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.18.

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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

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prayed for?

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7' Defendant cared 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.1g. In view of the above, I hold that the Applicant Bank has established their craim made in the oA against the Defendant and hence the Appricant Bank is enti.ed to recover the craim made in the oA with future interest and costs.

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B' In the resurt, the present oA is ailowed with costs, as under:

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The Defendant is liable to pay to the Applicant Bank a total sum of

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Rs.26,24,96O/- ( six Lakhs Twenty Four

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thousand Nine ly ) i.e.,

b'q

OSJULMI :

,i,;':-;;;;;$$

(OA.No.189 of 2024)

a) A sum of Rs.24,g2,252/- towards loan account no.1657897000228 with interest @ !6.25o/o p.a from 0t.04.2024 till the date of realization;

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b) A sum of Rs.l,42,7Og/_ towards loan account no.1657840003716 with interest @ 12.2Oo/o p.afrom 0t.04.2024 till the date of realization;

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10' The Appricant bank is entitred to proceed against the mortgaged property and hypothecated assets as described in schedure to oA towards realization of the debt due.

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The Applicant Bank is also entifled to proceed against the person

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and properties of defendant towards realization of the debt due.

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

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The Applicant shall file a cost memo within two weeks from the date

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of receipt of order.

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Issue Recovery certificate accordingly.

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Communicate a copy of the order to the pa rties concerned.

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(Dictated to

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court on P"d^?I L"" corrected, signed and pronounced by me in the open
N , 2024)

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sd/-
(G. GOPTCHAND)
PRESIDING OFFICER
(/ s4.;
ry?::r,
**a{lgi?n
oar-t, avoiiiilao.

Canara Bank v. Sri Bassi Godhavari @ Godawari @ Godavari

Case brief

What is this about?

What did the court decide?

Canara Bank v. Sri Bassi Godhavari @ Godawari @ Godavari

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

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Case details

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