The DRT allowed the bank's original application for recovery, finding defendants jointly and severally liable to pay dues, interest, costs, and permitting action against hypothecated assets.
D的方向 jointly and severally liable to pay dues and interest; bank entitled to proceed against hypothecated assets and defendant properties; cost memo directed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 17th DAY OF OCTOBER,2024
PRESENT: SH. RAMESHWAR KOTHE, B,Com., L.LB. (Hons.), M.A. PRESIDING OFFICER
ORIGINAL APPLICATION No: 686 OF 2023
IDBI Bank Ltd., Kukatpally Branch, Hyderabad. Rep. by its Asst General Manager.
.....Applicant.
Versus
.,.Defendants
Counsel for the Applicant Defendants
: M/s.Trivikram Chitturu
t tx-oa*efr{p,s
oA.NO.686/2023
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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated assets?
a
3
oA.NO.586/2023
viz., Exs.A.1 to A.24 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the oA claim io the Appricant Bank with future interest and costs.
i) The Defendants are joinUy and severally liable to pay to the Applicant Bank a sum of Rs.39,99,778/- i.e., a sum of Rs.l7,6l,O07/under Cash Credit Loan, a sum of Rs.16,86,309/- under Term Loan and a sum of Rs.5,52,462/- under WCTL Term Loan with future interest @10.15olo p.a. simple from the date of application till the date of realization;
ii) the OA claim is secured by way of 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;
iii ) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;
iv) the applicant bank is entitled fgghe costs. ///Y,,.,\ (-r/
oA.NO.686/2023
(r,rs
ESHWAR KOTHE) PRESIDING OFFICER
1 issue framed by the court
Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated assets?
IDBI Bank Ltd., Kukatpally Branch, Hyderabad, Rep. by its Asst General Manager
M/s.Smartex Plastic Industries
Mrs.Chavan Malleswari
Mr.Suresh Raju
Rameshwar Kothe
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
