Allowed

Idbi Bank Limited v. Mr.Choppa Srinivasulu Reddy

DRT29 Aug 2024OA/700/2023

Case brief

AI extract

What is this about?

The Tribunal allowed the Debt Recovery Application filed by IDBI Bank Limited against four respondents for recovery of Rs. 20,41,029.18 with interest and costs, holding them jointly and severally liable.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 20,41,029.18 with interest and costs. Recovery Certificate to be issued. Bank entitled to proceed against mortgaged properties and defendants' assets

Idbi Bank Limited versus Mr.Choppa Srinivasulu Reddy — Cheque Dishonour | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I] AT HYDERABAD DATED THIS THE 29th DAY OF AUGUST, 2024

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PRESENT: SH. RAMESHWAR KoTHE, B.com., L.LB. (Hons.), M.A. PRESIDING OFFICER

¶3

ORIGINAL APPLICATION No: 700 OF 2023

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IDBI BANK LIN4ITED Rajampet Bra nch, Rajampet, Annamayya District. Rep. by its Branch t4anager.

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.....Applica nt.

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Versus

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Mr. Choppa Srinivasulu Reddy, S/o.Late Choppa Ch innappa Reddy, Male, Aged 50 Years, H.No.L/44, H Kothapalli Village, Cherlopalli, Rajampet Manda l, YSR Kadapa District - 516126.

¶8

Mr.Choppa Venkat Reddy, S/o. Late Choppa Chinnappa Reddy, lvla le, Aged 44 Years, H.No.1/44, H Kothapalli Village, Cherlopalli, Rajampet Nla ndal, YSR Kadapa District - 516126.

¶9

Mr.Choppa Lakshm ika r Reddy, S/o.Late Choppa Ch innappa Reddy, Male, Aged 48 Years, H.No.7/44, H Kotha palli Village, Cherlopalli, Rajampet Ma ndal, YSR Kadapa District - 516126.

¶10

lY r. Choppa Nagarjun Reddy, S/o. Late Choppa Ch innappa Reddy, Male, Aged 49 Years,

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rt'o

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oA.NO.70o/2023

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H.No.1/44,^{H Kotha} Palli^Village, Cherlopalli,^{RajamPetMandal,} YSR Kadapa^District -^516126'

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Mr.choppa^{Ya lla redd} Y, S/o.Late^{ChoPPaChin naPa reddY,} Male, Aged^{54 Years,}

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H. No.1/44,^{H KothaPalli Village,} CherloPalli,^{RajamPetlvlandal,} YSR Kadapa^District -^516126.

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...Defendants

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Counsel for^{the APP|icant}

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: M/s.Trivikram^Chitturu

¶19

Defendants

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: Exparte

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::^{qLLEB ::}

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The Applicant^{Bankflled the present OA for the recovery a total} sum of Rs.20,41,029.18ps^{from the defendantsjointly and} severally with future^{interest@ 9.30o/o p.a. from the dateof} application till the date^{of realization along with costs and in} default for sale^{of OA schedule properties.}

¶23

Summons served on^{D1 to 5. They were set ex-parte on} 25.07.2024 as called absent^{and no representation.}

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The Applicant Bank examined^{G.V.Subba Rao, Asst General} Manager, as AW-1 and^{marked 11 documentsthrough him as} Ex.A.1 to Ex.A.11.

¶25

Ld. Counsel for the Applicant Bank reported orders^{may be} passed through merits. Perused the material placed on record.

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The^point that arises for consideration is:-

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owrot

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oA.NO.70ol2023

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Whether the Appticant Bank is enti ed for the claim made in the OA against the Defendants and OA schedule properties?

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As stated supra, the Defendants remained ex-parte. The Evldence Affidavit coupled with the recitals in the documents viz., Exs.A.l to A.11 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinuy and severally liabte to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Apptication No.7OOl2023 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.20,41,029.18ps with future interest @9.30olo 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 mortgaged properties described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debU

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iii) the applicant bank is also entiued to proceed against the person and properties of defendants for realization of its dues;

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oA.NO.700/2023

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iv)^{the applicant bank is entitledfor the costs'}

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B. The Applicant^{Bank is directed to file Cost Memo within2 weeks} from^{the date of receipt of this Order'}

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¶41

Issue Recovery^{Certificate accordingly'}

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10,^{communicatea copvor this order to^-t|!"I3fi"",t":^"ll!"Jlit;,.} (Dictated to the steno'^{corrected' signedand pronoun(} ii,,ii"ir"DayorAusust,2024).

¶43

¶44

/flry**" fndrrr*oR^KorHE) PRESIDING^OFFICER

Idbi Bank Limited v. Mr.Choppa Srinivasulu Reddy

Case brief

What is this about?

What did the court decide?

Idbi Bank Limited v. Mr.Choppa Srinivasulu Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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