Allowed

Canara Bank v. New Amma Hospitals

DRT23 Sept 2024OA/66/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application filed by Canara Bank against M/s. New Amma Hospitals and others for recovery of a loan debt. The court held the bank proved its case and directed the payment of principal, interest, and sale rights over hypothecated movables.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 31,19,895 with 13.80% interest; entitlement to sell hypothecated movables; entitlement to proceed against properties of defendants 2 to 4.

Canara Bank versus New Amma Hospitals — Banking and Recovery | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 23RDDAY OF SEPTEMBER' 2024

¶2

PRESENT: SRI GUMMADI GOPICHAND, PRESIDING oFFIcER

¶3

OA.No.66 ol 2(J24

¶4

Between:

¶5

Canara Bank, Saidabad colony branch, H. No.17- 1-39 L/T/233A, Near Saraswathi Nagar colony, Hyderabad - 500 059. Represented by its Officer Sri R. Raju

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Applicant

¶7

VERSUS

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M/s. New Amma Hospitals, Represented by its Managing Partner, plot No.3-15-23, H.No.2/ 12, Bahar Sahara Estates, Hayathnagar, Hyderabad - 500 068. TS.

¶9

#28 & 63, Hayathnagar, Vijayawada Highway, NH-65 Ranga Reddy district - 501 505.

¶10

Sri Mohammad Faiaz Khan, S/o Mohammed Masum Khan, Aged major, occ: business, Plgt no.3-15-23, flat No.2/t2, 1" floor, Bahar Sahara Estate, Mansoorabad, K.V. Ranga Reddy disrrict - 500 068.

¶11

Sri Mohammed Masum Khan, S/o Mohammed Khan, Aged major, occ: business, H.No. 1B-1389, Ashok nagar, Miryalguda, Nalgonda dist - stP 7nt

¶12

(OA.No.66/2024)

¶13

Sri MohdAmjad Khan, S/o Mohammed Masum Khan, Aged major, occ: business, H.No. 18-1389, Ashok nagar, Miryalguda, Nalgonda dist-508 207.

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Defendants

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Counsel for the Parties: For the Appllcant For the Defendants

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Sri Dishit Bhattacharjee Exparte

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ORDER

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The Applicant Bank fired the present oA against Defendants for recovery of a total sum of Rs.31,1g,gg5/- (Rupees Thirty One Lakhs Eighteen Thousand Eight hundred and Eighty five ) with further interest @ 13.80o/o p.a with monthly rests from OB.O2,2OZ4 till the date of realization and in default for sale of hypothecated movables as described in the schedule to OA.

¶19

As per the averments in the apprication, the Appricant Bank states that defendant No.1 is a partnership firm represented by managing partner availed term loan of Rs.37,50,000/_ against the hypothecation of medical equip bed in the ichedule to guarantee agreement OA. Defendants no.2 date(, to 10.2.2072. %Aft# dvailing and executedthe loan raci I ity, the d eren da nts ra i liqto .3#r,iEf,^gft r.n*_|y;ru n.tion, he nce 'r,t.,fu dsf .,,

¶20

(oA.No.66/2024)

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the applicant bank was constrained to classify the account as NpA and issued legal notice dated 15.09.2023. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

¶22

Defendants No.1 to 4 called absent and set exparte on 25.06.2024.

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Sri M.S. Venkatesh, Authorised officer of the Applicant Bank examined himself as AW,1 and exhibited relevant documents, which are marked as Ex.A.1 to A.12.

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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.12. 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

¶27

Applicant Bank is entitled t made in the OA with
,<<br>future interest and costs.
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¶28

(oA.No.66/2024)

¶29

B. In the result, the present OA is allowed with costs, as under: The Defendants are joinUy and severally liable to pay to the Applicant Bank a total sum of Rs.31,1g,8g5/_ (Rupees Thirty One Lakhs Eighteen Thousand Eight hundred and Eighty five ) with further interest @ 13.g0o/o p.a from 09.02.2024 till the date of realization;

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The Applicant bank is entifled to proceed against the hypothecated movables as described in schedule to OA towards realization of the debt due.

¶31

The Applicant Bank is also entiUed to proceed against the person and properties of defendants No.2 to 4 and properties of defendant no.1 firm towards realization of the debt due.

¶32

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

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

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Issue Recovery certificate accordingly.

¶35

Com g- copy of the order to the parties concerned.

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by her, corrected, signed and pronounced by me in the open court on

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sdlTRUE COPY 23SEPzn (G. GOPTCHAND) ; PRES]DING OFFICER A$L negblr.t |Q-.t. il\ueABAO.

Canara Bank v. New Amma Hospitals

Case brief

What is this about?

What did the court decide?

Canara Bank v. New Amma Hospitals

Case brief

What is this about?

What did the court decide?

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