Allowed

Bank of India v. Smt G Vijayamma

DRT15 Jul 2024OA/455/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal at Hyderabad adjudged the original application filed by Bank of India against two defendants. Examining documents marked Ex.A.1 to A.28, the tribunal held defendants jointly and severally liable. It allowed the application for recovery of loan dues with interest and secured the claim against mortgaged properties.

What did the court decide?

The defendants ordered to pay Rs. 64,04,462/- with future interest @12% p.a., claim secured against mortgaged properties, and Recovery Certificate issued.

Bank of India versus Smt G Vijayamma — Banking and Recovery | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

¶2

DATED THIS THE 15th DAY OF JULY, 2024

¶3

PRESENT: SH, RAMESHWAR KOTHE, B.com., L.LB. (Hons.), M,A. PRESIDING OFFICER

¶4

ORIGINAL APPLICATION No: 455 OF 2023

¶5

BANK OF INDIA, New Balaji Colony Branch, Tirupath i, Andhra Pradesh.

¶6

Rep. by its Constituted Attorney.

¶7

.....Applicant.

¶8

Versus

¶9

Smt.G.Vijayamma

¶10

W/o.G.Mohan, [4ajor,

¶11

H. NO.1-61, Olluru(Village & post),

¶12

K.V.B. Puram(M), Tirupath i, Tirupathi District, Andhra Pradesh-517501.

¶13

Sri.G.Mohan

¶14

S/o. G. Ba bu Na id u, Major,

¶15

H. NO.1-61, Olluru(Village & post),

¶16

K.V.B. Puram( lvl ), Tirupathi, Tirupathi District, Andhra Pradesh-517501.

¶17

... Defendants

¶18

Counsel for the Applicant : M/s. K.V. Nageswara Rao

Defendants

: Exparte

:: ORDER::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.64,04,462/- as on 27.02.2023 i.e., a sum of Rs.52,25,7 5l / - towards Term Loan A/c. No. 57 13762 10000006 4w,"

¶23

oA.NO.455/2023

¶24

and a sum of Rs.77,78,7711-^{towards KCCLoan} A/c. No.571332110000008 from the defendants^jointlvand severally with future interest @14.200lo^{p.a. and penal interest} @ 2olo^p.a. with^{monthly rest from the date of applicationtill} the date of realization along^{withcosts and in defaultfor sale of} OA schedule^properties.

¶25

Summons served on D1 and 2.^{Theywere set ex-parte0n} 13.10.2023 as called absent and^{no representation.}

¶26

The Applicant Bank examined M.Naga^{Raju, SenlorManager,as} AW-1 and marked 28 documents^{through him as Ex. A.1 to Ex} A.28.

¶27

Ld. Counsel for the Applicant Bank reported orders^{may be} passed through merits. Perused the material placed on record.

¶28

The point that arises for consideration is:-

¶29

Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA schedule properties?

¶30

As stated supra, the Defendants remained ex-parte.^The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 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^jointly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

¶31

In the result, the^present Orlginal Application ,No.455/2023 is allowed as under: - furr,

¶32

oA.NO.4s5l2023

¶33

¶34

i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.64,04,462l- as on 21..02.2023 i.e., a sum of Rs.52,25,751/- towards Term Loan A/c.No.571376210000006 and a sum of Rs.ll,78,7lL/- towards KCC Loan A/c.No.571332110000008 with future interest @12.20o/o p,a. simple from the date of application till the date of realization;

¶35

ii) the OA claim is secured by 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;

¶36

iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

¶37

iv) the applicant bank is entifled for the costs.

¶38

B. The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order,

¶39

Issue Recovery Certificate accordingly.

¶40

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 15th Day of July, 2024).

¶41

ffr.rla
ESHWAR KOTHE)
PRESIDING OFFICER

Bank of India v. Smt G Vijayamma

Case brief

What is this about?

What did the court decide?

Bank of India v. Smt G Vijayamma

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Punjab National Bank versus M/s Aman Mall and others

Union Bank of India versus M/s India Enterprises

Bank of Baroda versus Smt. Renu Devi and Others

Hdfc Bank Limited versus Mr.Poreddy Malla Reddy

Bank of India versus Mude Mahadeva Naik

Bank of India versus Gurupal Reddy Devireddy