Allowed

Union Bank of India v. Gadaputi Saraswathi

DRT7 Aug 2024OA/31/2024

Case brief

AI extract

What is this about?

In Debts Recovery Tribunal no. 31/2024, the Presiding Officer allowed the Applicant Bank's ex-parte original application for recovery of loans granted to the joint and several respondents. The court directed respondents to pay the claimed amount with future interest and costs, and authorized sale of mortgaged properties.

What did the court decide?

The respondents are liable to pay Rs. 28,44,171.98 with future interest and costs; the claim is secured by mortgaged properties; Recovery Certificate issued.

Union Bank of India versus Gadaputi Saraswathi — Contract and Commercial Disputes | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE OTth DAY OF AUGUST, 2024

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

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ORIGINAL APPLICATION No: 31 OF 2024

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UNION BANK OF INDIA., Branch Office at D. No.1/39, Maln Road, Belguppa, Ananta pur - 575747. Rep by its Authorized Officer.

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.....Applica nt.

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Versus

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Gadaputi Sa raswathi, W/o. c.lvla llikarju na, Aged about 40 Years, Occ: Business, Female,

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R/o. #2-60, OC Colony, N Hanumapuram, Kanekal lvlandal, Anantapur, Andhra Pradesh - 515822.

¶9

Gadaputi Syamala @ Gaduputi Syamala, W/o.G.Venkatesulu, Aged about 46 Years, Occ: Business, Female, R/o. #2-56, OC Colony, N Hanumapuram, Kanekal l4andal, Anantapur, Andhra Pradesh - 515822.

¶10

. .. Defendants

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Counsel for the Applicant : Nlrs.Taranginl Pisipati Defendants . Exeaneofrw\

oA.NO.31/2024

::^g-LLL]E::

The Applicant^{Bank filed the present OA for the recovery a total} sum of Rs.28,44,171.98ps^{as on 31.12.2023 i'e , a sum of} Rs.20.59,844.98ps^{towards Loan A/c.No.560931000364213} with future interest @^{13.650/op.a. and a sum ol Rs'7,84,327/-} towards Loan^{A/c. No.OO9525O3OOO0619with futureinterest@} l2,O5o/o^p.a. from^{the defendants jointly and severally with} monthly rests from^{01.01.2024till the date of realizationalong} with costs and in default^{for saleof OA scheduleproperties'}

¶16

Summons served on^{D1 and 2 through paper publicationThey} were set ex-parte on^{1'6.07.2024as called absentand no} representation.

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The Applicant Bank^{examined Nagaraju Nellabavi, Branch} Manager, as AW-1^{and marked 24 documentsthrough him as} Ex.A.1 to Ex.A.24.

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Heard the arguments of^{applicant. Perusedthe 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} properties?

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As stated supra,^{the Defendants remained ex-parte'The} Evidence Amdavit^{coupledwith the recitalsin the documents} viz., Exs.A.1 to A.24^{marked on behalf of the ApplicantBank} cllnches the claim of the^{Applicant Bank against the Defendants'} O%"*

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oA.NO.31/2024

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Hence, I hold^{that the Defendants are jointlyand severallyliable} to pay the OA claim^{to the Applicant Bank with future interest} and costs,

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In the result, the^{present Original ApplicationNo'31/2024is} 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.28,44,L7L98ps^{as on 31'12'2023 with} future interest @11'75olo^{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} properties described in the^{schedule annexed} 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 propertiesof} defendants for^{realization of its dues;}

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iv) the applicant^{bankis entitledfor the costs'}

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B. The Applicant^{Bank is directed to file Cost Memo within2 weeks} from the date^{of receipt of this Order'}

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Issue Recovery^{Certificateaccordingly'}

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Communicate^{a copy of this order to the parties concerned'} (Dictated to the steno,^{corrected,signedand pronounced by me in the open court on} this the 07rh^{Day of August, 2024).} D%*'t (sAfiesHWnR KorHE) PRESIDING OFFICER

Union Bank of India v. Gadaputi Saraswathi

Case brief

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Union Bank of India v. Gadaputi Saraswathi

Case brief

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