Allowed

Union Bank of India v. M/S Sharma Electrical Works

DRT20 Dec 2024OA/64/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the Original Application filed by Union Bank of India. The court held the respondents jointly and severally liable to pay the outstanding dues with future interest and costs, securing the claim against mortgaged and un-mortgaged properties.

What did the court decide?

Respondents ordered to pay Rs. 1,38,69,995.27 with future interest at 12.50% p.a.; claim secured by mortgaged property; Recovery Certificate issued.

Union Bank of India versus M/S Sharma Electrical Works — Execution and Attachment | DRT (2024)

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IN THE DEBTS RECOV u^" ,^rrrNAL-iI AT HYDERABAD DATED THrs ,na , DAY OF DECEMBER' 2024 PRESENT: sH. RAT4ESHWA;0Ih o^.rr.#ilro.i.rr..."fl^{., L. LB.( Hons.} ), M. A.

¶2

ORIGINAL APPLI CATION No: 64 OF 2024

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UNION BANK OF INDIA D.No.9_4_ 140 to 143, X:g,r.i:nj?] .9azlar,^{Near Gurudwara,} xd way station Road Branch. secunderabad _ 500025. Rep. by its Senior l,lanager.

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... ..Applicant.

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Versus

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M/s.Sharma Electricals Works., Registered Office at H.No.6-3 _54I/24, (27, SRT), Ameerpet, Hyderabad - SC,OOtO. Represented by its proprietor Mr.Gu nturi Badrinath.

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lYr. Gu nturi Badrinath, S/o. Late Sri. c, S. R. M u rthy, H. No.6-3-541/24, (27, SRT), Ameerpet, Hyderabad - 500016. Proprietor of M/s.Sharma Electrical Works.

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lvlrs.Gunturi Rukmini, W/o.Sri G. Bad rinath,

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H. No.6-3-541/24, (27, SRT), Ameerpet' Hyderabad - 500016

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...Defendants

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Counsel for the Applicant : Ms. K.Srilatha Defendants 'eo"P'y('

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oA.NO.64/2024

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:: ORDER^::

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t::i

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t. t"Jr* i::::ffi rh e^{AppI ica nt Ban k f i red} :1" ".":iJt ;: sum^{of Rs.1,38,69,99527ps frotrt} )* 0..^{ar".01.04.2021} ."0^{a default for}

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till the^{date of realizationalor} severallv^{with future} '"**t "tT;':.il sale^{of OA schedulePropertY'}

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Summons^{servedon D1 to 3They were set ex-parteon} ,r,Or.r[roas^{called absent and no representation'}

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The Applicant^{Bank examined N'V S'Ayyappa Sai' Senior} Branch^{Manager, as Aw-1 and marked 74 documents through} him as^{Ex. A.1 to Ex. A'74'}

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Heard the Ld.^{Counselfor the Applicant Bank'Perused the} material Placed^{on record.}

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The^point that^{arises for considerationis:-}

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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 Affldavit^{coupledwith the recitalsin the documents} viz., Exs. A.1 to A.74^{markedon behalf of the Applicant Bank} clinches the claim^{of the Applicant Bank against the Defendants'} Hence, I hold that^{the Defendantsare jointly and severallyliable} to pay the OA claim to the^{ApplicantBank with future interest} /fu4.-'11

and costs. An*t'

oA.NO.54l2024

In the result, the present Original Application No.64/2024 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.1,38,69,995.27ps with future interest @12.500/o^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 mortgage of 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 properties of defendants for realization of its dues;

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iv) the applicant bank is entitled 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, corrected, signed and pronounced by me in the open court on this the 20'h Day of December, 2024).

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7/Ya

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(ryAftsnwaR KorHE) -PRESIDING OFFICER

Union Bank of India v. M/S Sharma Electrical Works

Case brief

What is this about?

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Union Bank of India v. M/S Sharma Electrical Works

Case brief

What is this about?

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