Allowed

Union Bank of India ( Erstwhile Andhra Bank) v. Moses Prabhakar

DRT22 Apr 2024OA/754/2023

Case brief

AI extract

What is this about?

DT-II at Hyderabad allowed an Original Application under Section 19 of the RDDB Act, 1993. The bank recovered Rs. 28,71,895/- plus future interest and costs, securing the claim via hypothecation assets and a recovery certificate.

What did the court decide?

Defendant liable to pay Rs.28,71,895/- with future interest; claim secured by hypothecated assets; Recovery Certificate issued; Costs awarded to Applicant.

Union Bank of India ( Erstwhile Andhra Bank) versus Moses… — Banking and Recovery | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE 22"d DAY OF APRiL, 2024

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PRESENT: SH. RAMESHWAR KOTHE, B.Com, L.L.B. (HonS.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION NO. 754 OF 2023

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U nion Bank of India (formerly And h ra Bank) District Court Branch, Ananta pur Town & District, A.P. -515001, rep by its Sr. Branch Manager.

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

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Versus

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lvlr. lvloses Prabhaka r, S/o. Mr. Gadanna Moses Aged major Occ- Private Employee D. No. 6/1283-4, Bhagyanaqar, Gu ntakal, Anantapur - 515801 Defenda nt.

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Counsel for the Applica nt : Mr. V. Raghu Defendant :Exparte.

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ORDER

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The Applicant Bank filed the present OA u/s.19 of the Recovery of Debts and Bankruptcy Act, 1993 for the recovery of a total sum of Rs.28,71,895/- i.e., (Rs.2,58,7491- under A/c no. 142816530000187 with interest @9.40olo p.a., Rs.5,31,503/under A/c no. 142816530000195 with interest @9.40olo p.a., Rs.3,96,824/- under A/c no. 14281653000058 with interest @8.650lo p.a., Rs.2,05,652l- under A/c no. 142816530000205 with interest @9.85% p.a., Rs.3,07,933/- under A/c no. ,4Y.* (-t P

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oA.7s4l2023

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142816530000206^{with [email protected]/oP'a', Rs 3,04,668/-} under A/c no.^{142816530000207with interest@9 85o/o p a} ' Rs.3,04,059/- under^{A/c no. 142816530000214 with interest} @9.85o/o 0.a.,^{Rs.2,g6,457/- under A/c no. 142816530000215} with interest @9.85o/o^{p.a., Rs.2,66,0491-under A/c no'} 142816530000216^{with interest @9.85% p a )from the} defendant with^{monthlyrestsfrom 28 02'2023till the dateof} realisation along^{with costs and saleof OA schedule Assets'}

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Summons served^{on sole defendantthrough paper publication'} He was set ex-parte^{on 08.01.2024,as called absent and no} representation.

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Bank examined D. P Sunil^{ManoharKumar,} The Applica^nt Senior Branch Manager as AW-1 and^{marked49 documents} through him as Ex. A.1 to Ex.A.49.

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Heard learned^{counselappearing for the applicant Perusedthe} materlal 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 Defendant and^{OA Schedule} Assets?

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6, As stated supra,^{defendant remalnedex-parteThe Evidence} Affidavit coupled^{with the recitals in the documents viz , Exs' 41} to A.49^{markedon behalf of the Applicant Bank clinches the} claim of the^{Applicant Bank againstthe Defendant Hence, I} hold that the^{Defendant is liable to pay the OA claim to the} Applicant Bank^{with future interestand coss$Tn} n

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oA.754/2023

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In the result, the present Original Application No.754/2023 is allowed as under: -

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i) the defendant is liable to pay to the Applicant Bank a sum of Rs.28,71,895/- with future interest @8.25olop.a. simple from the date of application i.e.,23.06.2023 till the date of realization;

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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 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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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 22^d day of April,2O24l. ^^A

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PRESIDING OFFICER

Union Bank of India ( Erstwhile Andhra Bank) v. Moses Prabhakar

Case brief

What is this about?

What did the court decide?

Union Bank of India ( Erstwhile Andhra Bank) v. Moses Prabhakar

Case brief

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What did the court decide?

What the court decided

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