Allowed

City Union Bank Limited v. M/S Sathish Granites

DRT29 Jul 2024OA/48/2024

Case brief

AI extract

What is this about?

This order in a DRT miscellaneous application allows the bank's claim for loan recovery against defaulting borrowers. The court, on ex-parte hearing, accepted the evidence and held the defendants jointly and severally liable for the dues with interest and costs.

What did the court decide?

Reply ordered to pay Rs. 27,96,098.10 with future interest and costs; mortgaged property charged; recovery certificate issued.

City Union Bank Limited versus M/S Sathish Granites — Execution and Attachment | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE 29th DAY OF JULY, 2024

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

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ORIGINAL APPL]CATION NO: 48 OF 2024

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CITY UNION BANK LIMITED., Having its Regd Office Jail Kanna Street, Naidu Building Chitoor - 517001, Andhra Pradesh.

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Rep. by its Power of Attorney.

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.....Applicant.

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Versus

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M/s.Sathish Granites A Proprietary Concern Office at 2-894/4, Kongareddy Palli,

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Chittoor - 517001.

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Rep by its Proprietor

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Sri. P. Sathish.

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Sri. P.Sathish

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S/o. Late Palani Mudallar, Aged about 47 Yearc, Occ: Business, R/o.2-A94, Chenna Reddy Colony, Kongareddy Palli, Chittoor,

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Andhra Pradesh - 517001.

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Miss.S.Hamsini D/o. P. Sathish, Rep by her Natural Guardian, Father, Sri.P.Sathish, Aged about 12 Years, Occ: Student, R/o.2-494, Chenna Reddy Colony, Kongareddy Palli, Chittoor, Andhra Pradesh - 517001. q%$" ,./

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oA.NO.48/2024

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Miss. S. Bhavishini D/o. P. Sathish, Rep by her Natural Guardian, Father, Sri. P.Sathish, Aged about 09 Years, Occ: Student, Rl 0.2-894, chenna Reddy Colony, Kongareddy Palli, Chittoor, Andhra Pradesh - 517001.

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... Defendants

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Counsel for the Applicant : M/s.R.Rajendra Prasad Defe nda nts :Expade

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:Expade

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:: ORDER::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.27,96,098.10ps as on 20.11.2023 i.e., a sum of Rs.74,07 ,734.21ps under Loan A/c. No.5120200110023483 and a sum of Rs.13,88,363.89ps under Loan A/c. No.5120200110023566 from the defendants jointly and severally with future interest @ 77o/o p.a. with monthly rests 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 sent to D1 to 4 returned with endorsement unclaimed hence, deemed to be served. They were set ex-parte on L0.04.2024 as called absent and no representation.

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The Applicant Bank examined K.Hariharan, Branch Manager, as AW-1 and marked 24 documents through him _as Ex. A.1 to Ex. A24 OW-q

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oA.NO.48/2024

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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.1 to A.24 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.

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In the result, the present Original Application No.48/2024 is allowed as under: -

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i) The Defendants (Defendants 3 and 4 being minors represented by father and natural Guardian i.e., 2nd Defendant), are jointly and severally liable to pay to the Appllcant Bank a sum of Rs.27,96,098.1ops as on 20.11.2023 i.e., a sum of Rs.14,07,734.21ps under Loan A/c. No.5120200110023483 and a sum of Rs.13,88,363.89ps under Loan A/c.No.5120200110023566 with future M't

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oA.NO.48/2024

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interest @14.75olo 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^propertiesof defendants( Defenda nts 3 and 4^beingminors represented by father and natural Guardian i.e., 2nd Defendant), for realization of^its dues;

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iv) the applicant bank is entitled for the costs.

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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 accordlngly.

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Communicate a copy of thls order to the^parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 29th Day ofJuly, 2024).

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Jn\ ESHWAR KOTHE) PRESIDING OFFICER

City Union Bank Limited v. M/S Sathish Granites

Case brief

What is this about?

What did the court decide?

City Union Bank Limited v. M/S Sathish Granites

Case brief

What is this about?

What did the court decide?

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