Allowed

Union Bank of India v. M/S S S Cotton House

DRT22 Mar 2024OA/949/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by Union Bank of India for recovery of dues against the Defendants. The Court held that Defendants are jointly and severally liable to pay the claimed amount along with future interest and costs based on unchallenged affidavit evidence.

What did the court decide?

Defendants ordered to pay sum of Rs. 20,10,194.95 with future interest at 11.650% p.a., costs, and issued Recovery Certificate.

Union Bank of India versus M/S S S Cotton House — Banking and Recovery | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD

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DATED THIS THE 22Nd DAY OF MARCH, 2024

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PRESENT: SH. MMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

¶4

Original Application No: 949 OF 2022

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Union Bank of India, Bowenpally Branch, Secunderabad, Rep. by its Manager Principal Officer.

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.....Applicant.

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Versus

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M/s. S S Cotton House, Prop; Ms. Praveen Begum, Age: Major, Occ: Business, Plot No.6, Block'C', Albraki Residency, Ganesh Nagar Colony, New Bowenpally, Secunderabad-500011.

¶9

Ms, Praveen Begum, Prop:SSCottonHouse, D/o. Shri Mahaboob Ali, Plot No.6, Block'C', Albraki Residency, Ganesh Nagar Colony, New Bowenpally, Secunderabad-500011.

¶10

..,..Defendants

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: Mr.^p.Balaji Counsel for the Applicant

Defendants : Exparte

@"-"

oA.NO.949/2022

::^qLqEB::

The Applicant^{Bankfiledthe presentOA for the recoverya total} sum of Rs.20,10,194.95ps^{from the defendantsjointly and} severally future^{interest @ 13 650lop a with monthlyrests} from 01.09.2022^{till the date of realization along with costs'}

¶18

Summons served^{to D1 & D2 through} paper publicatlon.^TheY called absent^{and no}

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were set exparte^{on 73.07.2023as} representation.

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The Applicant^{Bank examinedAjay Kumar, Senior Manager'as} AW-1 and marked^{4 documentsthrough her as Ex' A 1 to Ex'} A.4.

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4 Ld. counsel^{for the Appllcant Bank reportedorders maybe} passed on merits. Perused^{the material placed on record}

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The^point that^{arisesfor conslderation is:-}

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Whether the^{AppticantBankis entitled} for the claim^{made in the OA against} the Defendants?

¶24

As stated. supra,^{the Defendantsremainedex-parte'The} Evidence^{Affidavitcoupled withthe recitals in the documents} viz., Exs.^{A.1 to A.4 markedon behalf of the ApplicantBank} clinches the^{claim of the ApplicantBankagainst the Defendants'} Hence, I hold^{that the Defendants are iointly and severallyliable} to^pay the OA^{claim to the Applicant Bankwith future interest} and costs.

¶25

'Sftl

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oA.No.949/2022

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T.Intheresult,thepresentoriginalApplicationNo.g49l2022is allowed^{as under:-}

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The Defendants^{are iointly and severally}

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i) liable to^{pay the Applicant Bank a sum of} Rs'20,10'194'9sps^{with future interest @} 11.65010^{p.a. simplefrom the date of} application^{till the date of realization;}

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

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iii)^{the applicant bank is entitled for the costs'}

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The Applicant^{Bank is directedto file Cost Memo within 2 weeks} from the^{date of receiptof this order'}

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Issue Recovery^{Certificate accordingly'}

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lo.communicate.'*I:l!Ti:":":*Jrtfrl:i"lffi i"",L'"",1ittil;" lDi.tated tothe^{steno, signed and I} i2d^{oay ofMarch,2024)'}

¶35

Ah}t<r''ll' .rrflo*"*orntl PRESIDlNG^OFFICER

Union Bank of India v. M/S S S Cotton House

Case brief

What is this about?

What did the court decide?

Union Bank of India v. M/S S S Cotton House

Case brief

What is this about?

What did the court decide?

What the court decided

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