Allowed

Bank of Baroda (Erstwhile Vijaya Bank) v. Earkal Ravi

DRT12 Jul 2024OA/263/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an Original Application filed by Bank of Baroda for recovery of Rs. 23,13,950.12 from defendants, declaring them jointly and severally liable and authorizing proceedings against mortgaged property.

What did the court decide?

Defendants ordered to pay Rs. 23,13,950.12 with future interest; bank entitled to proceed against mortgaged property and defendants' assets for realization.

Bank of Baroda (Erstwhile Vijaya Bank) versus… — Contract and Commercial Disputes | DRT (2024)

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''ORIGINAL''

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 12th DAY OF )ULY,2024

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PRESENT: SH. RAIVIESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A.

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 263 OF 2023

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BANK OF BARODA (Erstwhile Vijaya Bank), Ameerpet Branch, 6 & 7, D.No.6-3-Bs3/r, Meridian Plaza, Ameerpet, Hyderabad, Telangana-5000 16. Rep. by its Chief Manager.

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.....Applicant.

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Versus

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Mr,Earkal Ravi S/o. E. Pandarinath, Aged about 31 Years, Occ: Business, R/o.n.l,to.t -l-5/6, Satsung Colony, Upparpally, Ra.jendranagar, Hyderabad-500048, Telangana.

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Mrs.E.Swapna W/o.Earkal Ravi, Aged about 30 Years, Occ: Employee, R/o.H.No.1 -t-5/6, Satsung Colony, Upparpally, Rajendranagar, Hyderabad-500048, Tela nga na.

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. . . Defendants

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Counsel for the Applicant : M/s.N.Manohar Reddy Defendants '. Exparler, r/7'*u

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oA.NO.263/2023

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:: ORDER::

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The Applicant Bank filed the^{present OA for the recoverya total} sum of Rs.23,13,950.12ps as on^{21.12.2022 from the} defendants^jointly and severally^{with future [email protected]} p.a. from the date of application till the date of^{realization along} with costs and in default for sale of OA^{scheduleproperty.}

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Summons served on D1 and^{2 throughpaper publication.They} were set ex-parte on 09.10.2023 as called^{absent and no} representation.

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The Applicant Bank examined K.Ajay^{Kumar,Legal Manager,as} AW-1 and marked 08 documents through^{him as Ex. A.1 to Ex.} A.OB.

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Ld. Counsel for the Applicant Bank reported^{ordersmay 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 coupled with the recitals in the^documents viz., Exs. A.1 to A.08 marked on behalf of the^{Applicant Bank} clinches the claim of the Applicant Bank against the^Defendants' Hence, I hold that the Defendants are^{jointlyand severallyliable} to pay the OA claim to the Applicant^Bank with^{futureinterest} and costs. fu.^

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fu.^

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oA.NO.263l2023

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In the result, the present Original Application No.26312023 is a llowed as under: -

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i) The Defendants are joinUy and severally liable to pay to the Appllcant Bank a sum of Rs.23,13,950.12ps with future interest @8.90olo p.a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of mortgaged property described in the schedule annexed to the OA and the applicant bank is entiUed to proceed against the same to realise its .l6l-rt-^.

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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 entiued for the costs.

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B. The Applicant Bank is directed to file Cost Memo within 2 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, signed and pronounced by me in the open court on this the 12'h Day of July, 2024).

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PRESIDING OFFICER

Bank of Baroda (Erstwhile Vijaya Bank) v. Earkal Ravi

Case brief

What is this about?

What did the court decide?

Bank of Baroda (Erstwhile Vijaya Bank) v. Earkal Ravi

Case brief

What is this about?

What did the court decide?

What the court decided

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