Allowed

Union Bank of India v. M/S Star Pvc Doors Manufacturing

DRT16 Apr 2024OA/780/2022

Case brief

AI extract

What is this about?

In an ex-parte order under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993, the Tribunal held the defendants liable to pay the applicant bank the claimed amount with future interest and secured the claim via mortgage on schedule properties.

What did the court decide?

Defendants ordered to pay Rs. 37,57,353 with future interest; OA claim secured by mortgage of schedule property; Recovery Certificate issued.

Union Bank of India versus M/S Star Pvc Doors Manufacturing — Banking and Recovery | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 16th DAY OF APRiL, 2024 PRESENT: SH. RAMESHWAR KOTHE, B.Com, L.L.B. (Hons.). M.A. PRESIDING OFFICER

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Union Bank of India Netajingar Branch at Plot No. l4,Vijayapuri Colonv. Kapra, Secunderabad-500042. Telangana State Rep by its Branch Manager

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...........Appticant.

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Versus

¶5

1
y/s. Star pVC Doors Manufacturing,
H.No.5-5-86/234,ptot No.LIG_23a;
Block No.5, ApHB Cotony,
Meerpet(Viltage), Kapra GHMC,
Uppat Mandal, Medcha l_ Ma lkajg iri
District, Telangana State,
Rep by its Sole proprietrix

¶6

Mrs. Sushil Devi Sharma, w/o. Mt. Dadich Rinva Kailash Sharma, Ag-ed about:41 years, Occ: Business, H_ No.5-5-86/234, Ptot No. LIG_234, Btok No.5, ApHB Cotonv. Meerpet(Vi age), rapra'GriVC, Uppal l*1andal, Ivledhcat-Malkajgiri Distt, Telangana State.

¶7

3.
lYr. Dadhich Rinva Kailash Sharma
S/o. Sri Dadhich Rinva Ram Sharma,
Ag.ed about:41 years, Occ: Business,
H. No.5-5-86/234, ptot No. LrG_234,
Block No.5, APHB Colony,
M eerpet(Villag e), Kapra cHMC,
Uppal Mandat, Med hca l- Ma tkajg iri
District, Telangana State. Defenda nts.

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Nn"^

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oA.NO.780/2022

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counsel^{for the APPlicant} Defendants

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Mr.^{M. V. S. Prasad}

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Ex-Parte.

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ORDER

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The Applicant^{Bank filed the present OA u/s'19 of the Recovery} ofDebtsandBankruptcyAct,lgg3fortherecoveryofasumof Rs.37,57,3531'^{from the defendants1' 2 & 3 togetherwith}

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interest^{@12.50/0 p'a from the date of this o A'' till the date of} r."1 o^{alongwith costs and sale of oA scheduleproperty'}

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z. Summons^{served on D1 to 3They were set ex-parte on} 2a.O3.2o23,^{as called absent and no representation'}

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The anO^{Applicant Bank examined marf.eO12 documentsthrough him M sambaiah' as Ex Manager as A l to Ex'A'12'AW-1}

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Heard^{learned counselappearing for the applicant'Perusedthe} material Placed^{on record'}

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The^{point that arises for considerationis:-} Whether^{the Appticant Bank is entitled} for the^{claim madein the OA against} the^{Defendants and OA Schedule}

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ProPertY?

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As Affidavit stated^{coupled supra, with the defendants recitals remained in the ex-parte' The documents viz Evidence' Exs Al} to A.12^{markedon behalfof the APplicantBank clinchesthe} claim of^{the ApplicantBankagainst the Defendants' Hence' I} hold that^{the Defendants are liableto pay the OA claimto the} Bank with^{futureinterest ano cosrs'fi$*</sup>}

^;;.";;

oA.NO.78O/2022

In the result, the present Original Application No.7gO/2022 allowed as under: _

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i) tfre defendants are liable to pay to the Applicant Bank a sum of Rs.37,57,353/_ with future interest @11.45o70 p.a, simple from the date of application i.e.,19.09.2022 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 entiued to proceed against the same for recovery of its dues;

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iii) the appricant bank is arso entitred 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 entifled 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 pronorn."a Ly .;lrl;; ;; court on this the 16th day of Apfit, ZOZ4.

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//ry,n (Rr[55s*oR KOTHE) PRESIDING OFFICER

Union Bank of India v. M/S Star Pvc Doors Manufacturing

Case brief

What is this about?

What did the court decide?

Union Bank of India v. M/S Star Pvc Doors Manufacturing

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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Case details

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