DR Tribunal allowed the Origin Application filed by Union Bank of India for recovery of outstanding term loan and cash credit amounts along with future interest and proceeds against mortgaged properties.
Defendants jointly and severally liable to pay Rs.44,53,304.28 with future interest; bank entitled to proceed against mortgaged and personal properties.
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 RECOVERYTRIBUNAL-I AT HYDERABAD DATED THIS THE 2OTH DAY OF FEBRUARY' 2024
PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER
OA.No.79 ol 2023
Between :
Union Bank of India, Kudakuda, S.No.2B3, Kudakuda road, Suryapet, Telangana Represented by its Chief Manager
Applicant
VERSUS
Suryapet - 508 213.
Prop: M/s. Lahari Industries, y{9 SIi Prabhakar, aged 40 years, H.No.3-1-6, pSR Centre,
Suryapet - 508 213.
Aged 45 years, H.No.3-1-6, PSR Centre, Suryapet - 5Og 213.
Defendants
Counsel for thepa rties:
For the Applicant P. Balaji For the Defendants 20rEBml
(oA.No.79 of 2023)
ORDER
a) a sum of Rs.6,74,572.50ps underTerm roan account with future interest @ 12.75olo p.a with monthly rests from date of application till the date of realization
b) a sum of Rs.37,7g,73t.7gps undercash credit accountwith future interest @ 12.75olo p.a with monthly rests from date of application till the date of realization;
and in default for sale of mortgaged property as described in the schedule to OA.
(oA.No.79 of 2023)
comply the terms of sanction, hence the applicant bank was constrained to classify the account as NpA and issued demand notice dated 13.06.2022. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.
(OA.No.79 of 2023)
costs of the OA.
The Applicant shall weeks from the date
of receipt of order
2! Iri ryt
?\ *i
4
(OA.No.79 of 2023 )
(Dictated to the P.A., transcribed by-her, corrected, signed and pronounced by me in the open court on this the 2oth day ot Feb, 2OZ4)
sd/-
(G. GOPTCHAND) PRESIDING OFFICER
,l z,trr;2m:
2 issues framed by the court
Whether the applicant bank is entitled to the claim made in the OA against the defendants as prayed?
To determine the liability of the defendants to pay the outstanding dues with future interest.
Union Bank of India
M/s. Lahari Industries
Smt. Maragonesimalatha
Sri Maragoniprabhakar
Gummadigopichand
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
