Single judge order allowing an Original Application filed by Bank of India for recovery of a loan of Rs.1.18 crore along with interest and future interest from directors and guarantors.
Defendants jointly and severally liable to pay Rs.1,18,36,469/- with future interest; entitlement to proceed against hypothecated and mortgaged properties.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD DATED THIS THE 1OTH DAY OF JANUARY' 2024
PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER
OA.No.398 ot 2022
Between:
Bank of India, Hyderabad Main Branch, Post box No.134, #5-8-659, Abids, Nampally station road, Hyderabad - 500 001. TS.
Represented by its constituted attorney
Applicant
VERSUS
Admnoffice : 8-3-1021, plot no.24, Krishna vihar, HDFC Bank Lane, Srinagar colony, Hyderabad - 5OO 073.
Apartments, Beside lane of cou Over bakery, Sri Nagar Colony, J+Ameerpet, Hyderabad - 500 073 +
(OA.No.398 of 2022)
Defendants
Counsel for the Parties:
For the Applicant
For the Defendants
Smt P. Suseela
Ex pa rte
ORDER
Nine only) with future interest @ 11.25olo p.aplus 2o/o Denal interest with monthly rests from 78.t2.2022 till the date of realization and in default for sale of hypothecated and mortgaged immovable properties as mentioned in the schedules "A & B', to OA.
credit facilities were fl: ffu.i'"1"^o 1sJANlmr ii:':f tn?\uitabre mortsase of t\3 .F \P..i. ' ,,",:t1
(OA.No.398 of 2022)
immovable properties mentioned in schedule B and on hypothecation of stocks and book debts on 2t.OB.2Ol7. The defendants no.2 to 4 executed deed of guarantee and defendants 1 to 3 executed promissory note, bearer letter, hypothecation cum loan agreement, letter of declaration etc. After availing the loan facilities, the defendants failed to comply the terms of sanction, hence the applicant bank was constrained to classify the account as NPA on 31.01.2022 and issued demand notice dated 09.02.2022. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.
) Defendants 1 & 4 called absent and set exparte on 07.07.2023, Defendant no.2 was set exparte on 28,08.2023 and Defendant no.3 was set exparte on 11.09.2023.
(OA.No.398 of 2022)
defendant no.1 tion of the debt due.
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(OA.No.398 of 2022)
(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the lothday ot )an,ZO24)
sdl(G. GOPTCHAND) PRESIDING OFFICER
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1 issue framed by the court
Whether the Applicant Bank is entitled to the claim made in the OA against the Defendants?
1 provisions across 1 enactments
Bank of India, Hyderabad Main Branch
M/s. Prius Enterprises private Limited
Sri P. Eswar Reddy
Sri S. Venkatachalam
Sri K. Praveen Kumar
Sri Gummadu Gopichand
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
