Allowed

Karnataka Bank Limited v. Smt.Sandhya Bongu

DRT23 Jul 2024OA/458/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Karnataka Bank Ltd. for recovery of dues. The defendants were ex-parte and held jointly and severally liable to pay the claimed amount with interest.

What did the court decide?

Defendants ordered to pay Rs.22,97,573.67 with interest. Bank entitled to realisation via mortgaged property and defendants' assets. Recovery Certificate issued.

Karnataka Bank Limited versus Smt.Sandhya Bongu — Banking and Recovery | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE 23'd DAY OF JULY, 2024

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A.

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PRESIDING OFFICER

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ORIG]NAL APPL]CATION No: 458 OF 2023

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KARNATAKA BANK Ltd., Plot No.70, Shiva Ganga Colony, Siris Road, L.B Nagar, Hyderabad-500074. Rep. by its General Power of Attorney Holder.

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.....Applicant.

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Versus

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Smt.Sandhya Bong u,

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W/o. Ramesh Bongu,

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Aqed a bout 41 Years,

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Occ: Business, R/o.H.No.3-4,

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Coutuppal lvla ndal,

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Thallasinga ra m, Nalgonda-5082 52, Telanga na State.

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Sri. Ramesh Bongu, S/o.Muthyam Bongu, Aged about 47 Years,

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Occ: Business, R/o. H. No.3-4,

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Coutuppal Mandal, Thallasingaram, Nalgonda-508252, Tela ngana State.

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Sri.Naveen Kumar Erva, S/o.Prabhu Erva, Age about 41 Years, Occ: Business, R/o. H. No.5-3 5, Bank Colony, Near DIGI School, Dammaiguda, Naga ra m - 500083, Ranga Reddy District, Telangana State.

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' \sY l" "^Defendants . 1,,

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oA.NO.4s8l2023

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Counsel for the Applicant

: M/s.N.Rama Rao

Defendants

: Exparte

:: O-LD-LB ::

The Applicant Bank filed the^{present OA for} the^{recovery a total} sum of Rs.22,97 ,573.67ps from the^defendants iointly^and severally with future interest @12.50yo^p.a. from the^{date of} application till the date of realization^along with^{costs and in} default for sale of OA schedule^property.

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Summons served on D1 to 3. They were set^{ex-parte on} 10.07.2023 as called absent and no^{representation.}

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The Applicant Bank examined D.L.Narayana,^{Asst. Manager,as} AW-1 and marked 17 documents through^him as^{Ex. A.1} to^Ex. 4.77 .

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Ld. Counsel for the Applicant Bank reported orders may^be passed through merits. Perused the 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 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.17 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

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,aV-^t^ ../,/^?'jD.$t.-|

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oA.NO.458/2023

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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.458/2023 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.22,97,573.67ps with future interest @10.75olo^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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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 23'd Day of July, 2024).

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MESHWAR KOIHE) PRESIDING OFFICER

Karnataka Bank Limited v. Smt.Sandhya Bongu

Case brief

What is this about?

What did the court decide?

Karnataka Bank Limited v. Smt.Sandhya Bongu

Case brief

What is this about?

What did the court decide?

What the court decided

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