Allowed

Union Bank of India (e-Andhra Bank) v. M/S Sri Balaji Polyvision.

DRT18 Feb 2025OA/132/2024

Case brief

AI extract

What is this about?

Debt Recovery Tribunal allowed the Original Application filed by Union Bank of India for recovery of dues against M/s Sri Balaji Polyvision and Mrs. Bollapu Suneetha. The court held the defendants jointly and severally liable to pay the outstanding sum with interest and costs, confirming the mortgage charge.

What did the court decide?

Directed defendants to pay Rs.10,04,62,11.77 with interest and costs; OA schedule properties secured; Recovery Certificate issued.

Union Bank of India (e-Andhra Bank) versus M/S Sri Balaji… — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS^{RECOVERYTRIBUNAL-]I AT HYDERABAD} DATED THIS^{THE18th DAY OF FEBRUARY,2025}

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PRESENT:^{SH. RAMESHWAR KOTHE,B.COM.,L.LB. (HONS.), M.A.} PRESIDING^OFFiCER

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ORIGINAL^{APPLICATION No: 132 OF 2024}

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Union Bank^{of India.,(e-AndhraBank)} Cherlapally^{Branch,HYderabad.} Rep. by its Chief^Manager.

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.....Applicant.

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Versus

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M/s.sri Balaji^Polyvision., Rep by its^Proprietor Mr.Bollapu Surender^ReddY, S/o.B.Ramaiah,^{Age 52 Years,} Plot No.194/5,^{PhaseII, IDA,} Cherlapally.

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Also at:-

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l4/s.Sri Balaji^Polyvision., Rep by its Proprietor Mr.Bollapu Surender^Reddy, S/o.B.Ramaiah,^{Age 52 Years,} 2812281 L34,^{Nagarjuna Nagar Colony,} Road No.5,^Kushaiguda, Hyderabad - 500062.

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Also at:-

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l4/s.sri Balaji^Polyvision., Rep by its ProPrietor 1.4r. Bollapu Surender^Reddy, Flat No.303,3'd^{Floor,Balaji Heights,} fO-79/12, Phase^{I, SathYanaraYana} Colony, Nagaram,^Hyderabad.

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Mrs. BollaPu Suneetha, W/o.Surender^{ReddY, Major,} Flat No.303,3'd^{Floor,Balaji Heights,} 10-79172, Phase I,^{Sathyanarayana} cotony, Nagaram , HYderabay4tg,/- \9 ,-'-t /( u-'

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... Defendants

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oa.No.132/2024

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Counsel for the Applicant

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Defe nda nts

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: M/s.Srinivasa Rao Chakrala

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; Ex-parte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.100,4 6,211.77ps as on 31.12.2023 i.e., a sum of Rs.50,34,123.84ps under Loan A/c. No.124930100005932, a sum of Rs.49,92,372.93ps under Loan A/c. No. 124913100002102 and expenses Rs.29,715l- from the defendants joinUy and severally with future interest @13.25olo & 72o/o p.a. frcm 07.01.2024 till the date of realization along with costs and in default for sale of OA schedule properties.

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Summons served on D1 and 2. They were set ex_parte on 76.07.2024 as called absent and no representation.

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The Appllcant Bank examined Braj Bihari, Branch Manager, as AW-1 and marked 35 documents through him as Ex. A.1 to Ex. A.35 and examined K.V.V. Satyanarayana, Chief Manager, as AW-2 and marked 02 documents through him as Ex. A.36 to Ex. A.38.

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Heard the Ld. Counsel for the Applicant Bank. perused the material placed on record.

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The polnt that arises for consideration is:_

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Whether the Appticant Bank is entitled for the claim made in the OA against the Defendants and OA schedule properties? mr,

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oA.NO.132/2024

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As stated^{supra, the Defendants remained ex-parte'The} Evidence Affidavit^{coupled with the recitalsin the documents} viz., Exs.A.1 to^{A'38 marked on behalfof the ApplicantBank} clinches the^{claim of the Applicant Bank against the Defendants'} Hence, I^{hold that the Defendants are jointlyand severallyliable} to^pay the^{OA claim to the Applicant Bank with future interest} and costs.

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In the result, the^{present OriginalApplicationNo 132/2024is} allowed as^{under: -}

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i) The Defendants^{are jointly and severally} liable to Pay to^{the ApplicantBank a total} sum of Rs.100,46,211.77Ps^ason I

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31.12.2023 i.e.,^{a sum of Rs.50,34,123'84ps} under Loan^{A/c.N0.124930100005932, a sum} of Rs.49,82,372.93ps^{underLoan A/c. No'} 124913100002102 with^{futurelnterest} @!2.75o/o^{p.a. simple from the date of} application till the date^{of realizationand} expenses of Rs.29,7¹⁵ l^-',

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the OA claim^{is secured by way of mortgage}

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) of^properties described^{in the schedule} annexed to the^{OA and the applicant bankis} entitled to^{proceedagainst the same to} realise its debu

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iii) the appllcant bank^{is also entitled to proceed} against the^person and^{properties of} defendants for realization ot^rrt Ouut'/&

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oA.NO.132l2024

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iv) the applicant bank is entitled for the costs.

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B' The Appricant Bank is directed to fire 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, corrected, signed and pronounced by me in the open court on this the 18th Day of February, 2025).

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¶40

(RAMESHWAR KOTHE) PRESIDING OFFICER

Union Bank of India (e-Andhra Bank) v. M/S Sri Balaji Polyvision.

Case brief

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What did the court decide?

Union Bank of India (e-Andhra Bank) v. M/S Sri Balaji Polyvision.

Case brief

What is this about?

What did the court decide?

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