Allowed

Union Bank of India v. Mr, Kalva Annapurna

DRT16 Oct 2024OA/64/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal adjudicated an Original Application filed by Union Bank of India for recovery of a loan principal along with future interest and penalties. Finding the bank's claim substantiated, the court declared the defendants jointly and severally liable for the debt. The bank was granted permission to recover the sum from the mortgaged property or defendant assets and issue a reco

What did the court decide?

Directing defendants to jointly and severally pay Rs. 25,55,804/- with future interest at 13.50% p.a. and permitting the bank to proceed against mortgaged or defendant properties for realization.

Union Bank of India versus Mr, Kalva Annapurna — Execution and Attachment | DRT (2024)

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IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD

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DATED THIS THE 16TH DAY OF OCTOBER'2024

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.64 ot 2O24

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Between :

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Union Bank of India, Mulugghanpur branch, Warangal district, Telangana State. Represented by its Branch Manager Applicant VERSUS

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Mrs. Kalva Annapurna, w/o Ram Reddy, aged about 49 years, occ: housewife, female, H.No. 1-58/2, Gandhinagar, Post: Mylaram, Mulugghanpur, Mulugghanpur Mandal, JS Bhulapally district - 506 345. 2. Mr. Kalva Ram Reddy, s/o Pratap Reddy, aged about 52 years, occ: business, male, H.No. 1-58/2, Gandhinagar, Post: Mylaram, Mulugghanpur, Mulugghanpur Mandal, JS Bhulapally district - 506 345. 3. Mr. SamalaTirupathi Reddy, s/o Raghava Reddy, aged about 60^years, occ: busi male, Post Mylaram, Mulugghanpur, fft*':\ Mulugghanpur Mandal, JS Bhulapally district - 506 Ja 1 r u u!tr' LUiLI 6 ocr 202[ jJ a nts ,i:n_ \t t'Sh',"o:1W a$.rrq}

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loA.64l2O24l

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Counsel for the Parties: For the Applicant For the Defendants

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Sri Momin Mohammed Rafiq

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Exparte

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ORDER

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The Applicant Bank filed the^present OA against^{Defendants for} recovery of a total sum of Rs.25,55,8O4l-^{(Rupees TwentyFive} Lakhs Fifty Five thousand Eight Hundred and^four only)^with future interest @ 13.50%^{p.a with monthly rests along with penal} interest @ 2o/o P.a additional^{interestfrom date of application till the} date of realization and^{in defaultfor sale of mortgagedproperty as} described in the^{schedule to OA.}

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As per the averments^{in the application, the ApplicantBank states} that defendant^{No.1 and 2 are wife and husbandavailedhousingloan} of Rs.11,00,000/-^{vide letter of arrangement dated 0B'03'2010'} Defendantno.3Stoodasguarantortotheloanavailedbydefendants land2.Thedefendantsland2createdequitablemortgageof schedule mentioned^{property in favour of the Applicantbank' The} defendants deposited^{theoriginal Gift} deed bearing Doc.No.71012009dated09.1o.2009.Afteravailingtheloanfacility, sanction, hence^the the defendants^{failed to} account as^{NPA on} applicant bank^was 0.2023.^{InsPite of} 30.4.2018 and^issued ,L$."*^8{EF4prudt.'

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(oA.64l2o24l

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several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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Defendants No.1 to 3 called absent and set exparte on 12.04.2024.

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Sri Mohammed Yakub Pasha, Senior Branch Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.7.

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arise for consideration is whether the Applicant Bank is entitled for the claim made in the OA against the Defendants as prayed for?

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Defendants called absent and set exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank^was examined and he exhibited relevant documents as^Ex.A1 to A.7.^In view of the above, I hold that the Applicant Bank^{has established} their claim made in the OA against the Defendants and^{hence the} Applicant Bank is entitled to recover the claim made in the^{OA with} future interest and costs.

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B. In the result, the

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, as u nder:

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(o^.64/2024)

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The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.25,55,804/- (Rupees Twenty Five Lakhs Fifty Five thousand Eight Hundred and four only) with future interest @ 13.50% p.a from date of application till the date of rea lization;

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The Applicant bank is entitled to proceed against the mortgaged property as described in schedule to OA towards rea lization of the debt due.

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The Applicant Bank is also entitled to proceed against the person and properties of defendants towards realization of the debt due.

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The Applicant Bank is entitled to the costs of the OA.

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t2. The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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Issue Recovery certificate accordingly.

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Communicate a copy of the order to the parties concerned.

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(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 16th day of Oct,2024)

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ffi
; 1E ocT 7r2r ;
W,-sy

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sd/-
(G. GOPTCHAND)
PRESIDING OFFICER

Union Bank of India v. Mr, Kalva Annapurna

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Mr, Kalva Annapurna

Case brief

What is this about?

What did the court decide?

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