Allowed

Union Bank of India (Formerly Andhra Bank) v. Mr.G.Jaggareddygari Narayana Reddy

DRT19 Aug 2024OA/45/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application by Union Bank of India for recovery of dues totaling Rs. 33,08,330/ including interest from four defendants and sanctioned sale of properties.

What did the court decide?

Debts Recovery Tribunal allowed OA No. 45 of 2024; directed defendants to pay principal sums and interest; issued recovery certificate; ordered cost memo.

Union Bank of India (Formerly Andhra Bank) versus… — Banking and Recovery | DRT (2024)

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IN THE^{DEBTSRECOVERY TR1BUNAL-IIAT HYDEMBAD} DATED^{THIS THE 19ThDAY OF AUGUST'2024}

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L LB'^{(Hons )' M'A'} PRESENT:-SH^{RAMESHWAR KorH&Fatilt '}

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ORIGINAL^{APPLICATION No: 45 OF 2024}

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UNION^{BANK OF INDIA} ( Formerly Andhra^Bank) Ravadurq^Branch, nuiiar.q,^{AnanthaPUram District'} anrihra iradesh -⁵¹⁵⁸⁶⁵ ' Rep by^{lts Branch Manager'}

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.....Applicant.

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Versus

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M r. G.lagga redyga^{ri NarayanaReddy,} S/o. Late l.Venkat^Reddy, Aged Major, Occ:^{Agricultu re,} H. No.1- 14, OC Colony, Gramadatla,^Rayadurg -^515865, Ananthapuram District,^A.P.

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Mr.linkala Lakshma^ReddY, S/o.Mr.l.Thippa ReddY, Aged Major, Occ:^Agriculture, H.No.1-10, OC Colony, Gramadatla, Rayadurg -^515865, Ananthapura m District,^A.P.

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Mr.G. H. Mallikarjuna, S/o. Mr. Ha nne VirupakshaPPa, Aged Major, Occ: Ag^riculture, D.No.2-453, Bus Stop, T Veerapuram, Rayadurg-^565865, Anantha^puram, A.P.

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I\4 r. C.Ga ngadhara,

6XW.utv

oa,NO,45/2024

S/o.C.Pedda GangaaDDa. ae rituiture, QZT#il:'f,i:: il:llfl',Afiiadurs^{- s1 s86s,}

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... Defendants

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Counsel for the Applicant Defendants

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M/s. V. Raghu Exparte

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:: oRDER::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.33,08,330/- i.e., a sum of Rs.6,85,475.59ps under ATL-1 A/c. No.560931000407133 with subsequent interest @ 77.95o/o p.a., a sum of Rs.2O,63,g5O.33ps under ATL_2 A/c. No.56038100 2578949 with subsequent interest @ 7oo/o p.a. and a sum of Rs.5,59,004/- under ATL_1 A/c. No.560931000395909 wtth subsequent interest @ 11.95o/o p.a. from the defendants joinfly and severally frcm O!.12.2023 till the date of realization along with costs and in default for sale of OA schedule properties.

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Summons served on D1 to 4. They were set ex-pa rte 20.03.2024 as called absent and no representation.

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The Applicant Bank examined M.pullaiah, Legal Manager, as AW-1 and marked 47 documents through him as Ex. A.1 to Ex. 4.47 .

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Ld. Counsel for the Applicant Bank reported orders may be passed through merits.^perused the material placed on record. ,ffi"

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oA.NO.45/2024

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The point that arises for consideration is:_

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Whether the Applicant Bank is entitted for the claim made in the OA against the Defendants and oA sciedule properties?

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As stated supra, the j:,0"::: ::r dav t *,, ":1::;';':,:"ff i:: ;:' iH,"I: on beharf of the Appricant Bank :,;:r". il.",J"11n1".n"0 Bank against the Defendants. Hence, I hold ,n",,n" ouo'o"tant are jointly and severally tiabre to pav the oA craim ,o ,lun1u"t and costs. he Applicant Bank with future ,nterest

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In the result, the preser a,owed as under: _ rt original Appiication No.4s/2024 is

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,) The Defendanl iiabre to pay ,ottr"ltl^{io'nn' and} severalry Rs.33,og,33olrne.Applicant gu'k a sum or sum of Rs.6,8s,4 75.59ps^{1€r a} A/c.No.56o93ffi oorr -r_undur ATL_I Rs.20,63.850.33p,^--": sum oF a/c.rvo.soo:e;;,un""ri1"j ArL_2 Rs.5,59,00al- orru a sum of arr i A/c. No.56o931oo(^under interest 6Di 1.65o7o)395909^with ,r,ro from the date of apprication u, ,ni,"-..,-r^ e date of realization;

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ii) the OA claim is secr properties **.""i:;.Jl ]iy-i.l,i",ts"s"o _,, i!u urc annexprl

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. \r\t,,, . , 'll 1 '

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oa-No.45/2024

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to the OA and^{the applicant bank is entltled} 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 realizationof its dues;}

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lv) the applicant^{bank is entitled for the costs'}

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The^{Applicant Bankis directed to file Cost Memo wlthin2 weeks} " from^{the date of receipt of this order'}

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Issue^{Recovery Certificate accordinqly'}

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::""'l'""':3'rJ"ffi**'" 10. fS':tf^l".,;,.'**"3l0"fl '

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' , ,U ^or'"'ffitlsa:Pl+'l

Union Bank of India (Formerly Andhra Bank) v. Mr.G.Jaggareddygari Narayana Reddy

Case brief

What is this about?

What did the court decide?

Union Bank of India (Formerly Andhra Bank) v. Mr.G.Jaggareddygari Narayana Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

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