Allowed

Icici Bank Limited v. Mrs.Padma Bhukya

DRT29 Apr 2024OA/515/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by ICICI Bank for recovery of dues from three defendants jointly and severally, securing the claim via hypothecated vehicles.

What did the court decide?

Order allowed OA; defendants jointly and severally liable to pay Rs.28,32,963/- with interest; secure via hypothecated vehicles; issue recovery certificate.

Icici Bank Limited versus Mrs.Padma Bhukya — Banking and Recovery | DRT (2024)

¶1

]N THE DEBTS RECOVERY TR]BUNAL-]I AT HYDERABAD DATED THIS THE 29th DAY OF APRIL, 2024

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

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ORIGINAL APPLICATION No. S15 OF 2023

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ICiCI Bank Limited Gachibowli, ICICI Towers, Serilingampalty Mandat, Ranga Reddy District, Rep. by its Authorized Signatory and^power of Attorney holder

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...........Applicant.

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Versus

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Mrs. Padma Bhukya, Wo^{Bhukya polibai,}

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Age: 43 years, Occ:

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Self Employee, H.No. 10-2-795, Near Deccan Grameena Bank, Vidyanagar, Karimnagar - 5055001

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Mt. Ma ndalal Bhukya, S/o. Kirthiklata Bukya, Age: 48 years, Occ:^pvt Employee H.No.10-2-795, Near Deccan - Grameena Ban k, Vidyanagar, Ka rimnagar - 5055001, Telangana State.

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Mr. Bollaveni Rajaiah, S/o. Narasa iah Bollaveni, Age: 55 years, Occ: Self Employee, H.No.3-60, Near Bejjanki X Road - Bustand, Bejanki, Dacharam, Karimnaga r - 505528, Telangana State. Defendants.

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Counsel for the Applicant : M.V. KINI

Defe n da nts

:Exparte.

oA.51sl2023

ORDER

The Applicant^{Bank filed the present OA u/s' 19 of the Recovery} of Debts^{and BankruptcyAct, 1993 for the recoveryof asum} of Rs.28,32,963/-^{jointly and severally from the defendants} with interest^{@24o/o9'a' with monthly rests from 74'03 '2023} till the date^{of realisationalong with costs and sale of OA} schedule^{HYPothecatedvehicle'}

¶19

Summons^{served on D1 to 3 through paper publicationThey} were set ex-parte^{on 23} 'fl'2023 '^{as called absent and no} rePresentation.

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examlned^{N. Chandrasekar, Regional}

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1. The APPlicant^Bank as AW-1^{and marked 9 documents}

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RelatlonshiP^{Ma nager,} through^{hlmas Ex. A.1} to Ex.A.9.

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Learned Counsel^{for the applicant bank reported orders may be} passed on merits.^{Perused the materialplaced on record'}

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The^point that^{arises for considerationis:-} Whether^{the Applicant Bank is entitled} for the ctaim^{madein the OA against} the Defendants^{and OA Schedule} HYPothecated^vehicle?

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As stated supra,^{defendantsremained ex-parte The Evidence} Affldavit coupled^{with the recitals in the documents viz'' Exs' A1} to A.9 marked^{on behalf of the ApplicantBank clinches the} claim of the^{ApplicantBankagainst the DefendantsHence' I} hold that the^{Defendants are jointly and sgYtrallyliable to pay} OY"\

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oA.s7s/2023

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the oA claim to the Appricant Bank with future interest and costs.

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In the result, the present Original Application No.515/2023 is allowed as under: -

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i) the defendants are joinfly and severally liable to pay to the Applicant Bank a sum of Rs.28,32,963/- with future interest @12%p.a. simple from the date of application i,e.,09.05.2023 till the date of realization;

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ii) the OA claim is secured by way of hypothecation of vehicles described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same for recovery of its dues;

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

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iv) the applicant bank is entifled 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, signed and pronounced by me in the open court on this the 29rh day of April, 2024).

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#(s"r

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ESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. Mrs.Padma Bhukya

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Mrs.Padma Bhukya

Case brief

What is this about?

What did the court decide?

What the court decided

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