Allowed

Union Bank of India (e-Corporation Bank) v. Jakkannagari Chandrasekhar

DRT20 Feb 2024OA/538/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application filed by Union Bank against Jakkannagari Chandrasekhar for recovery of Rs.32,03,493.16 with interest and costs upon ex-parte hearing.

What did the court decide?

Direction to Defendant to pay Rs.32,03,493.16 with interest, permission to proceed against mortgaged assets and Defendant's properties, and issuance of Recovery Certificate.

Union Bank of India (e-Corporation Bank) versus Jakkannagari… — Bail and Remand | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 2oth DAY OF FEBRUARY, 2024

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

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Original Application No: 538 OF 2023

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Union Bank of India, (erstwhile Corporation Bank) D.No. U39, Main Road, Belguppa, Anantapur-515741. Rep. by its Authorized Officer.

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.....Applicant.

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Versus

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Jakkannagari Chandrasekhar, S/o. Late Sankaraiah, Age: 46^years, Occ: Business. Male, D.No. 1-41, Near Main ioad, Belguppa Village & tvtandal. Anantapur District, Andhra Pradesh-S17541.

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...Defendant

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Counsel for the Applicant

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Defendants

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Ms. Tarangini pisipati

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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.32,03,493.16ps i.e. (Rs.15.39,369/-, Rs.11,21,367.96ps and Rs.5,42,756.20ps) from the defendant with future interest @ 72o/o, @ 12o1o and @ 11.55o/o p.a. with monthly rests ftom 27.O5.2023 till the date of realization along with costs and in defautt for sale of OA schedule assets._ -y\lo

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oA.NO.s38/2023

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Summons served on sole defendant through paper publication. He was set exparte on 28.12.2023 as called absent and no representation.

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The Applicant Bank examined Nagaraju Nellabavi, Branch lvlanager, as AW-1 and marked 24 documents through him as Ex. A.1 to Ex. A-24.

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Heard the Ld. counsel for the Applicant Bank and 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 Defendant and OA schedule assefs2

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As stated supra, the Defendant 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 Defendant. Hence, I hold that the Defendant is 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.538/2023 is allowed as under: -

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i) The Defendant is liable to pay to the Applicant Bank a sum of Rs.32,03,493.16ps i.e. (Rs.15,39,369/-, Rs.11,21,367.96ps and Rs.5,42,756.20ps) with future interest @ 11.650lo p.a. simple from the date of application till the date of realization; , h'...^..

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oA.NO.s38/2023

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ii) the OA claim is secured bY way^of mortgage/hypothecation of assets 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 ls also entitled to^proceed against the person and^propertiesof defendant for realization of^{its dues; and}

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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 Certifi cate accordingly.

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communicate a copy of this order to the^{partiesconcerned.} (Dictated tothe steno, signed and^pronounced bY me in the op€n court on this the 206 Day of February, 2024) .

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MESHWAR KOTHE) PRESIDING OFFICER

Union Bank of India (e-Corporation Bank) v. Jakkannagari Chandrasekhar

Case brief

What is this about?

What did the court decide?

Union Bank of India (e-Corporation Bank) v. Jakkannagari Chandrasekhar

Case brief

What is this about?

What did the court decide?

What the court decided

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