Allowed

Bank of India v. Gurupal Reddy Devireddy

DRT15 Jul 2024OA/425/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Bank of India for recovery of Rs. 22.26 Lakhs with interest. The court held respondents jointly and severally liable and directed issuance of a recovery certificate after noting their absence.

What did the court decide?

Defendants ordered to pay Rs. 22,26,469.15 with future interest; recovery certificate issued; costs awarded.

Bank of India versus Gurupal Reddy Devireddy — Execution and Attachment | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 1sth DAY OF )ULY,2024

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SH. RAMESHWAR KOTHE, B.Com., L,LB, (HonS.), PRESIDING OFFICER

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ORIGINAL APPLICATION 425 0F 2023

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BANK OF INDIA, Gachibowli Branch, H.No. 1-585/A, Gachibowli, Serlingampally Mandal & Muncipality, Ranga Reddy District, Telangana State. Rep. by its Constituted Attorney,

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.....Applicant.

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Versus

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Sri.Gurupal Reddy Devireddy, S/o.Sri Devireddy Shankar Reddy, Aged about 55 Years, Rl o.lll/ L/B/168, Kondapur, Near Raghavendra Colony, Serilingampally, Hyderabad-500082.

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Sri.Sanjeeva Reddy Goli, S/o Sri Ranga Reddy Goli, Aged about 42Years, R/o.1-40, Seriappareddy Pally, Mahaboobnagar - 509360, Telangana.

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... Defendants

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Counsel for the Applicant : P,Suseela Defenda nts : Exparte ffi6r.'

oA.NO.42sl2023

:: ORDER::

The Applicant Bank filed^{the present OA for the recoverya total} sum of Rs.22,26,469.15ps^{from the defendantsjointly and} severally with future^interest @7.55o/o^{p.a. and penal interest} @^{2olo p.a. with monthlyrestsfrom the date of applicationtill} the date of realization^{alongwith costs and in defaultfor sale of} OA schedule ProPertY.

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Summons served on^{D1 through paper publication,whereas} summons served on^{D2. They were set ex-parte on 04'03'2024} as called absent and^{no representation.}

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? The Applicant Bank^{examined Soumya Mandali,Officer (credit),} as AW-1 and^{marked 28 documentsthrough her as Ex. A.1 to} Ex. A.28.

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Ld. Counsel for the^{ApplicantBank reported ordersmay be} passed through merits. Perused the^{materialplaced 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.l to A.28^{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} ffor':N

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oA.NO.425l2023

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to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.425l2023 is 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.22,26,469.t5ps with future interest @8.7o/o^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 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 entitled 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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q 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 15ih Day of .luly, 2024).

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ffisru

¶32

ESHWAR KOTHE) PRESIDING OFFICER

Bank of India v. Gurupal Reddy Devireddy

Case brief

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Bank of India v. Gurupal Reddy Devireddy

Case brief

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