Allowed

Uco Bank v. Smt. Rama Laxmi Patra

DRT22 May 2024OA/1/2023

Case brief

AI extract

What is this about?

In OA.No.1 of 2023, the Debts Recovery Tribunal adjudicated on the bank's application for recovery of dues against a proprietary concern and its tenants/defaulting borrowers. The Tribunal found the claim established based on documentary evidence and the defendants' default.

What did the court decide?

Defendants 1 and 2 directed to pay Rs. 1,87,31,569.03 inclusive of interest; bank entitled to proceed against hypothecated/mortgaged assets for realization.

Uco Bank versus Smt. Rama Laxmi Patra — Execution and Attachment | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE 22ND DAY OF MAY'2024

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PRESENT: SRI GUMMADI GoPICHAND, PRESIDING oFFICER

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OA.No.1 ol 2023

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Between:

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UCO Bank, Malakpet branch, 16-02-705 I 28, Mu mtaz college Road, Malakpet, Hyderabad - 500 036. Represented by its Chief Manager Cum authorized officer

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Applicant

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VERSUS

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Smt Rama Laxmipatra, Sole Proprietrix of M/s.^pragathi Stone Mart, Office: plot no.16 & 17, Sy.No.67, OppKamineni Hospital,

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L.B. Nagar, Hyderabad, Telangana - 5O0 074.

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Also at:

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Plot no.77 & 78, Sy.No.7t/t & 7t/2 Inner Ring Road, Karmanghat, Saroornagar, Ranga Reddy District - 500 079.

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Also at

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R/o plot No.25, H.No.3-B-15/A(old) - -: -- 3-8-30 (new), High way colony,

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L.B. Nagar, Hyderabad, i

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Telangana - 500 074. , , Also at H.No.B-2-96lA/L3/3,^ptot no.74, ..,.^' i Sy.No.57, Near All India Radio^{: '';'} _-S^.l - .,^{i/ !",..9i-' .,/} l^r.ijgf^{{ {( ;, .. '.--' ji; ,,ii:t\p,,r'

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(oA.No.1 of 2023)

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Colony, Ward no.B, block no.2, Karmanghat village, Saroornagar Mandal, L.B. nagar, Hyderabad - 500 079 , TS.

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Smt Rama LaxmiPatra, w/o Sri Vijay Rama Patra, aged major, occ: business, female, R/o plot No.25, H.No.3-B-15/A(old) 3-8-30 (new), High way colony, L.B. Nagar, Hyderabad, Telangana - 500 074.

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Also at

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H.No.B-2-96l A/ t3/ 3,^ptot no.7 4, Sy.No.57, Near All India Radio Colony, Ward no.B, block no.2, Karmanghat village, Saroornagar Mandal, L.B. nagar, Hyderabad - 500 079 , TS.

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Smt Padma, W/o Sri Venkataiah, Aged major, female, H. No.B-2-96lA/ 73/3, Ptot no.74, Sy.No.57, Near All India Radio Colony, Ward no.8, block no.2, Karmanghat village, Saroornagar Mandal, L.B. nagar, Hyderabad - 500 079 , TS.

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Smt Sandhya, w/o Sri Shashidhar Reddy,

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aged major, female, H. No.8-2-96l A/ t3 / 3,^plot no.7 4,

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Sy.No.57, Near All India Radio
Colony, Ward no.B, block no.2,
Karmanghat village, Sa roornaga r
Mandal, L.B. nagar, ""-:i: .;;"':'--.
Hydera6ad - so-o ozg , rs. ,4"t.;,:it{1 .,-:"i :'tfr
li.:P l'4'" " Fx S '' 1, ir.'' :
5. Smt M. Bhavani, W/o Sri N./Lpenora. 2tr "'.,'i
Agedmajor,femate, | , 7? IllYZ0l{ ",,
-:
H.No.B-2-96lA/t3/3, ptot no.74,
Sy.No.57, NearAll India Rad[o ' :. .-S ','.
'' ir';"'., : :t:-......
') .-.1:: . '.' .

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(oA.No.1 of 2023)

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Colony, Ward no.B, block no.2, Karmanghat village, Saroornagar Mandal, L.B. nagar, Hyderabad - 5OO 079, rS.

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Mr. Sathvik, S/o Sri Venkateswarlu, Aged major, female, H. N-o.B-2-96l A/ 13 / 3, ptot no.7 4, Sy.No.57, Near All India Radio Colony, Ward no.B, block no.2, Karmanghat village, Saroornagar Mandal, L.B. nagar. Hyderabad - 500 079, TS.

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SmtVara Lakshmi, w/o Sri Satyanarayana, aged major, luT?|":! f^{o .B-2-e6/A/r3/3, ptoi no.74,} Sy.No.57, Near All India Radio Colony, Ward no.B, block no.2, K.armanghat village, Saroornagar Mandal, L.B. nagar, Hyderabad - 5OO 079, TS.

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B. SmtUsha, W/o Sri Saidulu, Aged major, female, H. N-o.B-2-96l A/ t3 /3, plot no. 74, Sy.No.57, Near All India Radio Colony, Ward no.B, block no.2, Karmanghat village, Saroornagar Mandal, L.B. nagar, Hyderabad - 500 079 , TS.

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Sri S. Nikhit,

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:/g^{Srj S. Srinivas, aged major,} H N-o.B-2-96lA/t3/3, ptot no.lq, Sy.No.57, Near Ail India Radio Colony, Ward no.B, block no.2, Karmanghat village, Saroornagar Mandal, L.B. nagar, Hyderabad - 500 079, TS.

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Sri Srinivasan, S/o Sri Ramachandran, Aged major, H.No.B-2-96l A/ 1,3/3, ptoi Sy.No.57, Near Ail India Radio

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/,/ i
,'6a
/
, 7? frN 2Al
no.74,
.-t'''

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(OA.No.1 of 2023)

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Colony, Ward no.B, block no.2, Karmanghat village, Saroornagar Mandal, L.B. nagar, Hyderabad - 500 079 , TS.

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Defendants

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Counsel for the parties:

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For the Applicant

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For the Defendants 1 & 2

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Defendant no.3 to 10

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Smt K. Nandini alias Smt A.

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Nandini Reddy Sri V.V. Ramana Exparte

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ORDER

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1' The Appricant Bank fired the present oA against Defendants 1& 2 for recovery of a total sum of Rs.1,g7,31,569.O3ps (Rupees One Crore Eighty Seven Lakhs Thirty one thousand Five hundred Sixty Nine and paise three only) i.e.,

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a) A sum of Rs.2,68,896.70ps under UCECL rimit with interest @10.1Solop.a from 23.t2.2022 till the date of realization;

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b) A sum of Rs.23,16,561.70ps under GECL rimit with interest @ 9.75o/op.a from date of OA till the date of realization;

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c) A sum of Rs.161,46,110.63ps under wcrL rimit with interest @ 8.95% p.a with monthry rests from 23.12.2022 tiil the date of realization and a penal interest @ 20lo p.aand in default for sale of roperty as described in the

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*. ''1 ?? ny

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(OA.No.1 of 2023)

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As per the averments in the application, the Applicant Bank states that defendant No.1 is a proprietary concern represented by its Proprietrix / defendant no.2 and defendants 3 to 10 are tenants in schedule B property. Defendants 1 & 2 availed cash credit of Rs.1,50,00,000/- was collaterally secured by mortgage of schedule B property' To secure the cash credit the defendant no.2 deposited the title deed of schedure B property. on request of defendant no.1, the Appricant bank sanctioned adhoc rimit oF Rs.15.00 rakhs which was also secured by extension of charge on existing primary security more fuily described in schedure B to oA. The defendants further avaired additionar working capitar term roan of Rs.30.00 rakhs under GECL vide sanction letter dated 26.06.2020 by way of hypothecation of schedure mentioned A property. The defendants executed demand promissory note for Rs.30.00 rakhs, retter of waiver for Rs.30.00 lakhs, agreement, composite deed of hypothecation dated 02.007 .2020, letter of extension of mortgage on immovable property, letter of guarantee etc.After availing the loan facilities, the defendants faired to compry the terms of sanction, hence the applicant bank was constrained to classify the account as NpA on 29.08.2022 and issued recallnotice dated 01.09.2022. Inspite of several requests ary{;ileapgd.q, the.defendants . 't " -l ''- '' did not clear the "f'/ "t' outstandins. Hepf,ffis oa;r[ ,, il,. It .. !r i'I:it ,., ?^{7 li{y} Z0id ' lr _.':i. , ': --.' .1 ,, . .5,r.;-;.;., . .;4'

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(OA.No.1 of 2023)

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Shri V.V. Ramana filed vakalath for defendants No.1 and 2 but failed to file Written statement. Defendants 3 to 10 were set exparte on

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73.t7.2023.

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Smt K.R.R. RajyaLakshmi, Chief Manager of the Applicant Bank examined herself as AW.1 and exhibited relevant documents, which

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are marked as Ex.A.1 to A.45.

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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 Defendants as prayed for?

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counsel for defendants 1 & 2 fired vakarath but faired to fire written statement. Defendants 3 to 10 set exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and she exhibited rerevant documents as Ex.A1 to A.45. In view of the above, I hord that the Appricant Bank has estabrished their craim made in the oA against the Defendants and hence the Applicant Bank is entitred to recover the craim made in the oA with

costs, as under:

(OA.No.1 of 2023)

9' The Defendants 1 and 2 are joinily and severaily riabre to pay to the Applicant Bank a total sum of Rs.1,g7,31,569.O3ps (Rupees One crore Eighty seven Lakhs Thirty one thousand Five hundred Sixty Nine and paise three only) i.e.,

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a) A sum of Rs.2,68,896.70ps under UCECL rimit with interest @10.15olo p.a from 23.L2.2022 till the date of realization;

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b) A sum of Rs.23,16,561.70ps under GECL rimit with interest @ 9.75o/o p.a from 23.t2.2022 till the date of realizaUon;

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c) A sum of Rs.161,46,110.63ps under WCTL limit with interest @ 8.95% p.a from 23.12.2022 till the date of realization.

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The Appricant bank is entitred to proceed against the hypothecated assets and mortgaged property as described in schedule to OA towards realization of the debt due.

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d) The Applicant Bank is also entiUed to proceed against the person

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and properties of defendant No.2 and properties of defendant no.1 firm towards realization of the debt due.

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e) The Applicant Bank is entitled to the costs of the-OA.

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The Applicant shail fit o weeks from the date

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of receipt of order. 22nnl m{

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(OA.No.1 of 2023)

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S)^{Issue Recovery} certificate accordingly.

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h) 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 22"d day of May' 2024)

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sdl(G. GOPICHAND) PRESIDING OFFICER

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r,f(uecoRY "t?fi# AssL fleglrstrar

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DRT.I,^HYDERABAD,

Uco Bank v. Smt. Rama Laxmi Patra

Case brief

What is this about?

What did the court decide?

Uco Bank v. Smt. Rama Laxmi Patra

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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