Allowed

Bank of India v. Smt. Battula Aruna

DRT14 Feb 2024OA/270/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal, Hyderabad allowed the Applicant Bank's Original Application for recovery of Rs. 41,14,366. The Defendants were tried ex-parte and held jointly and severally liable to pay the claim with future interest and costs.

What did the court decide?

Defendants held jointly and severally liable to pay Rs. 41,14,366.00 with future interest @ 7.75% p.a.; claim secured by mortgage; entitlement to proceed against defendants' properties for costs and r

Bank of India versus Smt. Battula Aruna — Contract and Commercial Disputes | DRT (2024)

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IN THE DEBTS RECOVERY^{TRIBUNAL-II AT HYDEMBAD} DATED THIS THE 14th DAY OF^{FEBRUARY,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:^{27O oF 2023}

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Bank of India, \ Kukatpally Branch, 1* Floor, ADR Estate, Bhagyanagar colony, Kukatpally, Medchal Malkajgiri District, Hyderbad-500055. Rep. by its Constituted Attorney. ....'Applicant.

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Versus

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Smt. Battula Aruna, Wo.^{B. Edukondala Srinivas,} Age: 47 Years, Occ: Business, H.No. 1-59115/3, Maseed^Banda. Kondapur, serilingampally^Mandal, Ranga Reddy District-500084.

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Sri. Battula Edukondala Srinivas, S/o. B. Venkateswarllu,^{Age:52 Years,} Occ: Business, H. No. 1-59/15/3, Maseed Banda, KondaPur, Serilingampally Mandal, Ranga Reddy District-500084. .. 'Defendants

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: Mr' D.Brahma Reddy Counsel for the Applicant Defendants :Exparte

:Exparte

oA.NO.27Ol202a

:: qLLEB::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.41,14,366.00ps from the defendants with future interest @ 7.75o/o, p.a. with compounded monthly rests plus 2olo penal interest from the date of application till the date of realization along with costs and in default for sale of OA schedule^property.

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Summons served on D1 & 2 through paper publication. They were set exparte on 27,08.2023 as called absent and no representation.

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The Applicant Bank examined p. Ramakrishna Sai Nithin, lv'lanager, as AW-1 and marked 23 documents through him as Ex. A.1 to Ex. A.23.

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Ld. counsel for the Applicant Bank reported orders may be passed on 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 enti ed for the claim made in the OA against the Defendants and OA schedute 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.23 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinHy and severally liable to pay the OA claim to the Applicant Bank with future interest and costs. 4\V ,z lzrq.} "ot-Y-

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oA.NO.27012023

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In the result, the present Original Application No.Z7Ol2023 is allowed as under: -

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i) The Defendants are joinuy and severally liable to pay to the Applicant Bank a sum of Rs.41,14,366.00ps wtth future interest @ 7.75o/o ?.a. from the date of application till the date of realization;

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ii) the OA claim is secured by way of mortgage of property described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debiu

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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; and

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iv) the applicant bank is entitled for the costs.

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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 Certifi cate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno, signed and pronounced by me in the open court on thisthe 146 Day of February 2024) .

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PRESIDING OFFICER

Bank of India v. Smt. Battula Aruna

Case brief

What is this about?

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Bank of India v. Smt. Battula Aruna

Case brief

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