Allowed

Bank of India v. Sri.B.Sai Baba Goud

DRT17 Sept 2024OA/239/2024

Case brief

AI extract

What is this about?

The Tribunal allowed the Bank of India's Original Application for debt recovery, holding the defendants jointly and severally liable to pay a substantive sum with interest, restoring the secured mortgage property as collateral, issuing a Recovery Certificate, and directing payment of costs.

What did the court decide?

Defendants ordered to pay Rs.1,18,91,782.70 with 8.30% simple interest; mortgage property and other assets made available for realization; Recovery Certificate issued.

Bank of India versus Sri.B.Sai Baba Goud — Execution and Attachment | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 17th DAY OF SEPTEMBER,2024

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 239 OF 2024

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Bank of India Banjara Hills Branch, H.No.8-2-40314, Ground Floor, Road No.4, Banjara Hills, Hyderabad - 500034.

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Rep. by its Constituted Attorney.

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.....Applicant.

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Versus

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Sri B.Saibaba Goud, R/o. H. No.5-230/5, Chandra Nagar, HMT Road, Chintal, Quthbullapur, Hyderabad, Telangana State-500037.

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Smt.B.Swathi, R/o. H. No.5-230/5, Chandra Nagar, HMT Road, Chintal, Quthbullapur,

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Hyderabad, Telangana State-500037.

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... Defendants

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Counsel for the Applicant : Ms. K.Indira Defendants :Ex-parte

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:Ex-parte

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:: ORDER::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,18,91,782.7Aps from the defendalts^jointly and /frnt*

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oA.NO.239l2024

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severally with future^{interest @ 12o/o p.a. with monthly plus} 2o/o eenal interest from^{the date of applicationtill the date of} realization along with^{costs and in default for sale of OA} schedule^proPerty.

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Summons sent to^{D1 and 2 returnedwith endorsement} unclaimed^{hence, deemedto be served.They were set ex-parte} on !4.O8.2024^{as called absentand no representation'}

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The Applica nt Bank^examined Anil Kumar Pradhan,^Credit 14 documents through^{him as}

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N4anager, as AW-1 and^marked Ex. A.1 to Ex.^A.14.

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Ld. Counsel for the^APPlicant Bank reported orders^{may be} passed through merits. Perused the material Placed^{on record.}

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The^point that arises^{for consideration is:-}

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Whether the Applicant^{Bank is entitled} for the claim made in the^{OA against} the Defendants and OA^schedule property?

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As stated supra, the Defendants^{remained ex-parte. The} Evidence Affidavit^{coupledwith the recitalsin the documents} viz,, Exs. A.1 to A.14^{markedon behalfof the Applicant Bank} clinches the claim of the^{Applicant Bank against the Defendants.} Hence, I hold that the^{Defendants are jointly and severally liable} to^pay the OA claim to the^{Applicant Bank} ryith^{futureinterest} and costs' ffitttw t,/ ''

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oA.NO.239l2024

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In the result,^{the present Original Application No'239/2024is} allowed as^{under: -}

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i) The Defendants^{are jointly and severally} liable to^{pay to the Applicant Bank a sum of} Rs.1,18,91,782.70ps^{with future interest @} 8.30o/o^{p'a. simple from the date of} application^{till the date of realization;}

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ii) the OA claim^{is securedby way of mortgaged} property described^{in the scheduleannexed} to the OA and^{the applicant bank is entitled} to^proceed against^{the same to realise its} debt;

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iii ) the applicant bank^{is also entitled to proceed} against the^{person and properties of} defendants^{for realization of its dues;}

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iv) the applicant bank^{is entitledfor the costs'}

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B. The Applicant Bank is directed to^{file CostMemowithin2 weeks} from the date of receipt of^{this Order.}

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Issue Recovery Certificate^accordingly'

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Communicate^{a copy of this order to the parties concerned'} (Dictated to the steno, corrected,^{signedand pronouncedbyme in the open court on} this the 17th^{Dayof September, 2024).}

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ffi1-tr\ ESHWAR KOTHE) PRESIDING OFFICER

Bank of India v. Sri.B.Sai Baba Goud

Case brief

What is this about?

What did the court decide?

Bank of India v. Sri.B.Sai Baba Goud

Case brief

What is this about?

What did the court decide?

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