Allowed

Union Bank of India v. Reddappa Syamakuru

DRT15 Apr 2024OA/747/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's application for recovery of Rs. 29.96 lakh plus interest and costs from the defendants, holding them jointly and severally liable based on documentary evidence.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 29,96,091/- with interest; claim secured by mortgage; order sale of property; costs awarded.

Union Bank of India versus Reddappa Syamakuru — Banking and Recovery | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE 1sth DAY OF APRIL, 2024

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PRESENT: SH. RAI4ESHWAR KOTHE, B.COM, L.L.B. (HONS.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No. 747 OF 2023

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Unlon Bank of India (formerly Andhra Bank) Madana palli Branch, CTM Road, Annamayya District, A. P. -517325 Rep by its Chief Manager.

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...........Applicant.

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Versus

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Mr. Reddappa Syamakuru, S/o. Kotappa Syamakuru Aged Major, Occ: Business, D.No.15-5-15, Reddeppa NaiduColony Extn, Madanapalli, Annamayya District-517325.

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l4s. Umadevi Syamakuru, Wo.^{ReddappaSyamakuru} Aged Major, Occ: Household, D.No.15-5-15, Reddeppa NaiduColony Extn, Madanapalli, Annamayya District-517325.

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Mr. Giridharanath Reddy, S/o. Sanjeeva Reddy, Aged lvlajor, Occ:Business, D.No.3-80-2, Jagavaripalli, Kurabalakota Mandal, Annamayya District-517325.

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Ms. Puli Saraswathi,

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Wo.^{Puli Vijay Kumar Reddy} Aged 52 years R/o D.No.3-169-13-t58-42, Rama Rao Colony, Madanaplli Town, Annamayya District, AP. ,AW^" (9'\r*''

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oA.NO.747 12021

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5.	Mr.PuliMaheshKumarReddy, S/o.P.VijayKumarReddy, Aged 24years,Occ:Business, R/oD.No.3- 169-13-158-42, RamaRaoColony,MadanaplliTown, Annamayya District,AP.
6.	Guttha VenkataSwamyNaidu, S/o.Guttha VenkataRamanaAppaNaidu Aged:71 years,Occ:Business, D.No.3-145-B-6,Annamayya, District, AndhraPradesh.
7.	RachapalliVenkatRamanaReddy, S/o.Krishna Reddy,Aged:major, P.O.andvillage: Obulampalle MandalValmikipuram, MadanapaileDistrict517325 AndhraPradesh. Defendants.
	CounselfortheApplicant:l.4/s.V.Raghu
	Defendants :Ex-parte.

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ORDER

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The Applicant Bank filed the present OA for the recovery of a total sum of Rs.29,96,091/- i.e., (Rs.18,19,068/- under HLGEN Account No.037030100104376 along with subsequent interest @11.050/o^p.a. and Rs.17,77 ,023.48ps under ABPTL Loan 037030100138018 along with subsequent interest @11.85o/o p.a.) jointly and severally from the defendants with monthly rests from 37.07.2023 till the date of realisation along wtth costs and sale of oA schedule property. CW-n

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oa,No."t47 12023

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Summons sent to D1 and 2 returned with endorsement refused hence, deemed to be served whereas summons served on D3 to 7. They were set ex-parte on 19.10.2023, as called absent and no representation.

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The Applicant Bank examined D. Govardhan, Chief Manager as AW-1 and marked 24 documents through him as Ex. A.1 to Ex.A.24.

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Learned Counsel for the applicant bank reported orders may be passed on merits. Perused the material placed on record.

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The point that arises for consideration ls:-

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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, defendants remained ex-parte. The Evidence AfFidavit coupled with the recitals in the documents viz., Exs. 41 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 to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.747/2023 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.29,96,091/- with future interest @11.9solop.a. simple from the date^of %io'"t\

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0A.NO.747 12023

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application i.e.,18.08.2023 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 for recovery of its dues;

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

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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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q Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the^parties concerned. (Dictated to the steno, signed and pronounced by me in the open court on this the 15th day of April, 2024).

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7/ry''" Q6rrrroR^KorHE) PRESIDING OFFICER

Union Bank of India v. Reddappa Syamakuru

Case brief

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Union Bank of India v. Reddappa Syamakuru

Case brief

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