Allowed

Union Bank of India v. Jakkanagari Rameshwara Reddy

DRT14 Jul 2025OA/241/2025

Case brief

AI extract

What is this about?

This judgment allows a debt recovery application filed by Union Bank of India. The Court held the developers jointly and severally liable to repay a principal sum of approximately Rs.34.91 lakhs along with future interest and costs.

What did the court decide?

The Defendants are ordered to pay Rs. 34,91,484.23 with future interest; the OA claim is secured by mortgage; recovery certificate issued.

Union Bank of India versus Jakkanagari Rameshwara Reddy — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE 14TH DAY OF JULY, 2025

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

¶4

ORIGINAL APPLICATION No: 241 OF 2025

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Union Bank of India., (Erstwhile Corporation Bank) Branch Office at D.No.1/39 Main Road, Belguppa, Anantapur - SLS74|. Rep. by its Authorized signatory.

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.....Appticant.

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Versus

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Jakkanagari Rameshwara Reddy S/o. l. Parvatha Reddy, Aged about 50 Years, Occ: Farming, Male

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R/o. H.No.2-275, Kalyanadurgam Road Beluguppa Village and Mandal Anantapur District, Andhra pradesh-515741.

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K. Thippeswamy, S/o.Mala Ramanjineyulu Aged about 39 Years, Occ: Farming, Male R/o. H.No.6 - 222, Boya Veedi Beluguppa village and Mandal Anantapur District, Andhra^{pradesh-515741.}

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...Defendants

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Counsel for the Applicant : Mr. N.V.pruthvi Raju

Defendants

: Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.34,91 ,484.23ps as on 28.02.2025 i.e., a sum of Rs.10,82,809/- under Loan A/c. No.560931000418941 with interest @13.05% p.a., a sum of Rs.2-2.39,196.21ps under /Awo,-.9

/ //<sup>/r';o' ./

oA.NO.2411202s

Loan A/c. No.560381002566684^{with interest @1230% p'a} '^a sum of^{Rs.57,815/- under Loan A/c No 009526050000697with} interest @12.50o/o^{p.a. and a sum of Rs'1,11,66402ps under} Loan A/c.^{No.009526060000020 with interest @12500/oP a'} from the defendants^{jointly and severally with monthlyrests} from 01.03.2025 till^{the date of realizatlon along withcosts and} in default for^{sale of oA scheduleproperties'}

¶21

Summons served^{on D1 and 2. Theywere set ex-parteon} 09.06.2025 as^{called absentand no representation'}

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Bank examined^{K.AnandKumar, Senlor Manager,}

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The Applicant as AW-1 and marked 34^{documents through him as Ex A l to} Ex. A.34.

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Heard the Ld.^{Counselfor the ApPlicant Bank Perused the} material 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 Defendants and^{OA schedule} properties?

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As stated supra, the^{Defendants remained ex-parte The} Evidence Affidavit^{coupledwith the recitalsin the documents} viz., Exs.A.l to A.34^{marked on behalf of the ApplicantBank} clinches the claim of the^{Appticant Bank against the Defendants'} Hence, I hold that^{the Defendantsare jointlyand severallyliable} to^pay the OA^claim to^{the Applicant Bank} ' With^{futur-einterest} /m\rr/,-f1 ' and costs. U/ "u'u

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oa.No.241,l2OZ5

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In the result, the present Original Application No.24112025 is allowed as under: -

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i) The Defendants are join y and severally liable to pay to the Applicant Bank a total sum of Rs.34,91,484.23ps as on 28.02.2025 i.e., the 1't defendant is liable to pay a sum of Rs.10,82,809/- under Loan A/c. No. 560931000418941, Rs.57,815/- towards Loa n A/c. No.009526050000697 & Rs.1,11,664.02ps under Loan A/c. No. 009526060000020 and the defendants 1 and 2 are jointly and severally liable to pay a sum of Rs.22,39,196.21ps under Loan A/c. No. 560381002566684; with future interest @11.600/o p.a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of mortgage of properties described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debu

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iir) the applicant bank ls also entitled to proceed against the person and properties of defendants for realization of its dues;

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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. c%:nrr

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oA,NO.241l2025

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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,^{signedand pronounced by me in the open courton} this the 14s^{DaYofJulY,2025).}

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fi$-r'*' (nAPtrsuwen xorne) PRESIDING OFFICER

Union Bank of India v. Jakkanagari Rameshwara Reddy

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Jakkanagari Rameshwara Reddy

Case brief

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What did the court decide?

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