Allowed

Bank of India v. Mrs.Shailaja Penta

DRT26 Mar 2024OA/550/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by Bank of India for recovery of a loan amount of Rs. 28,95,912.73 along with future interest and costs from the defendants, confirming their liability based on the evidence marked. The applicant was granted a recovery certificate.

What did the court decide?

Defendants liable to pay Rs. 28,95,912.73 with future interest; bank entitled to proceed against scheduled property and respondents' properties; recovery certificate issued.

Bank of India versus Mrs.Shailaja Penta — Contract and Commercial Disputes | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 26th DAY OF MARCH, 2024 PRESENT: SH. RAMESHWaR KOTHE, B.Com, L.L.B. (Hons.), M.A. PRESIDING OFFICER

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RIGINAL APPLICATION NO.

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Bank of India, Rama Krishna Pura m Branch, Secunderabad, Hyderabad, Tela nga na Rep by its Constituted Attorney

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

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Versus

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N1rs. Shailaja^penta S/o. Sri.^penta Chandramouli, Resident of 72-tt-997, Flat No.404, Sai Shraddha Residency, Boudhanaga r, Warasig uda, Secunderabad, Hyderabad, Telangana-500061. 2. Mr. Gopal Krishna Bontalakoti S/o. Bantalakoti Simhachalam Resident of l2-tt-997, Flat No.4O4. Sai Shraddha Residency, Boudhanagar, Warasiguda, Secunderabad ttyderbJd, Telanagana.500061 Defenda nts. Counsel for the Applicant : Sri. K. V. Nageswara Rao Defendants :Exparte.

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ORDER

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The Applicant Bank filed the present OA u/s.19 of the Recovery of Debts and Bankruptcy Act, 1993 for the recovery of a sum of Rs.28,95,972.73/- under the loan A/c. No.860475110000326 $'"

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oA.5s0/2023

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from^{the defendants together with interest@7'40oloP a'} compounded^{with monthly rests and also2olo penal interest on} the suit^{claim from the date of applicationtill the date of} realisation^{alongwith costs and saleof OA scheduleproperty'}

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Summons^{sent to D1 and 2 returnedwith endorsement} unclaimedhence,deemedtobeserved'Theyweresetex-parte on 03.10.2023^{as called absentand no representatlon'}

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The Appllcant^{Bank examined VasamipalliKiran Kumar'Senior} Manager^{as AW-1 and marked16 documentsthrough himas} Ex. A.1^{to Ex.A.16'}

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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:-}

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whether the^{ApplicantBank is entitled} for the^{claimmade in the OA against} the^{Defendantsand OA Schedule} property?

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As stated^{supra, defendantsremained ex-parte The Evidence} Affidavit coupled^{with the recitals in the documents viz} '^{Exs' A1} to A.16^{markedon behalfof the Applicant Bank clinches the} claim of^{the ApplicantBankagainst the DefendantsHence' I} hold that^{the Defendants are liable to pay the OA daimto the} Applicant^{Bankwith future interest and costs'Uf} 4''-'

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oa.55ol2023

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In the result, the present Original Application No.550/2023 is allowed as under: -

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i) the defendants are liable to pay to the Applicant Bank a sum of Rs.28,95,912.73ps with future interest @8.759op.a. simple from the date of application i.e.,02.05.2023 till the date of realization;

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ii) the OA claim is secured by way of mortgage of property described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same for recovery of lts d ues;

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iii) the applicant bank is also entitled 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 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 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 26'h day of March, 2024).

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PRESIDING OFFICER

Bank of India v. Mrs.Shailaja Penta

Case brief

What is this about?

What did the court decide?

Bank of India v. Mrs.Shailaja Penta

Case brief

What is this about?

What did the court decide?

What the court decided

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