Allowed

Kotak Mahindra Bank Limited v. Chinthapally Gopal Goud

DRT31 Jan 2025OA/292/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by a bank to recover dues. The court held the defendants jointly and severally liable to pay the principal sum with future interest and costs, and entitled the bank to proceed against the hypothecated assets and properties. A Recovery Certificate was issued.

What did the court decide?

Directing the respondent-defendants to pay Rs. 69,14,839.95 with future interest and costs, and directing the issue of a Recovery Certificate.

Kotak Mahindra Bank Limited versus Chinthapally Gopal Goud — Execution and Attachment | DRT (2025)

¶1

oA.NO.292/2024

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76.0t.2025. In view of advocates' resolution, case called and repqsted to 29.01.2025, ' Y /"u-'-o.{

¶3

29.01.2025 M Sai Kiran representing NBS counsel for applicant stated orders may be passed based on records. For orders, call on 31.01.2025.

¶4

P.O.

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31.01.2025 Orders Pronounced,^{vide separate sheets.} In the result OA.No'29212024^is allowed with^costs.Issue Recovery Certificate^{accordin g ly.}

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20.03.2025

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On verification it^{is found that, the namesof D2 and D3} have been omitted^{in cause title of the order dated} 31,01.2025 in OA^{292/2024.The inadvertent mistakeis} corrected as here^under;

¶8

"Add

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Also at:Mrs.C.Narmada^Goud, W/o.Mr.GoPal Goud, 3-1-655, Road^No.7, KakatiYa Nagar,^{Bairamalguda,} LB Nagar, Rangareddi, Telangana - 500074.

¶10

Mr.ChinthaPalli^Krishnaiah, S/o. Mr.ChinthaPalli^Jangaiah, H.No.2-3, Vangoor(M), Charkonda,^{Mahabubnagar,} Telangana - 509324.

¶11

UPload the corrected^order.

¶12

Wi P.O.

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"ORIGIIVAL" IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE 31ST DAY OF JANUARY, 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: 292 OF 2024

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M/s.Kotak Mahindra Bank Ltd., Having its Office at 3'd Floor, Jewel Pawani Towers, Raj Bhavan Road, Somajiguda, Hyderabad - 500082. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Mr.Chinthapally Gopal Goud, S/o. Mr. Krishnaiah Chinthapally, Plot 3, Sama Saraswathi Colony, Gayathri Nagar, Kharmanghat, Hyderabad - 500079.

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Also at:-

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Mr.Chinthapally Gopal Goud, S/o.Mr. Krishnaiah ChinthaPallY, H.No,3-1-665, Road No.7, Kakatiya Colony, Biramalguda, L.B Nagar, Hyderabad - 500074.

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Permanent Address:Mr.Chinthapally Gopal Goud, S/o. Mr. Krishnaiah ChinthaPally, H.No.3-1-665, Road No.7, Kakatiya Colony, Biramalguda, L.B Nagar, Hyderabad - 500074.

¶24

Mrs.C.Narmada Goud,^rt6".f if "'"Hffil1'"' _ W/o,Mr.GopalGoud, :,;:it"f,:'-15Y (Asp."a*'..t...",,-, plot 3, Sama Saraswathi Colony, 'i'j.ilSft.^ri _ , ,, dutta zc^z'uz " Gayathri Nagar, Kharmanghat, lot ;a;1iiffi' Hyderabad - 500079. ,,y1 " ,ur-.Defendants 3 u- .hi.\rFl.0rrrl(.ul-hn.1,^{. iN** t-/' b' '/Y-' '1"^{', t i-il'rtn' - t""'k} '/ )!) tl xt -> '-^{{r\t{6'{(n^)} c krl r'('.t4. '' )'ta L""U"r' ' t"^' 'T",(.*,r0o..". - 5o, b29. -(

!w,,v

oA.NO.29212024

_'t (-' I Counsel for the ApPlicant

:M/s.N.B.Sudarshan

Defendants

: Ex-parte

:: ORDER ::

The Applicant Bank filed the^present OA for the recovery a total sum of Rs.69,14,839.95ps as on t0.04..2024 from^the defendants^jointly and severally with future interest @12olo^p.a. from the date of application till the date of realization along with costs and in default for sale of hypothecated assets.

¶34

Summons served on D1 and 2 through^{paper publication.They} were set ex-parte on 19.11,2024 as called absent and no representation.

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The Applicant Bank examined P.S.Abhishek, Legal Associate, as AW-1 and marked 08 documents through him as Ex. A.1 to Ex. A.OB.

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Ld. Counsel for the Applicant Bank reported orders may be passed through merits. Perused the material placed on record.

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The point that arises for consideration is:-

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated assets?

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.08 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants.

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oA.NO.Z92l2024

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Hence, I^{hold that the Defendants are jointlyand severallyliable} to^pay tlre^{OA claim to the Applicant Bank with futureinterest} and costs.

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In the result,^{the present Original Application No'292/2024is} allowed^{as under: -}

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The Defendants^{are jolntly and severally}

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i) liable to^{pay to the Applicant Bank a sum of} Rs.69,14,839'95ps^{as on 1O'04'2024with} future interest @11olo^{p'a' simple from the} date of application^{till the date of realization;}

¶45

ii) the OA^{claim issecured bY waYof} hypothecation of^{assets describedin the} schedule annexed^{tothe OA and the} applicant bank^{is entitledto proceed against} the same to^{realiseits debt;}

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

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iv) the applicant^{bank is entitledfor the costs'}

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B. The Applicant^{Bank is directed to file Cost Memo within2 weeks} from the date of^{receipt of this Order'}

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q Issue Recovery^{Certificate accordingly'}

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lo.communicateacopyofthisordertothepartiesconcerned. (Dictated to the steno, coriected,^{signedand pronouncedbyme in the open court on} ihisthe31"DayofJanuary,2025)

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/)ry6r**

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(*AM-ESHWAR KorHE) PRESIDING OFFICER

Kotak Mahindra Bank Limited v. Chinthapally Gopal Goud

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. Chinthapally Gopal Goud

Case brief

What is this about?

What did the court decide?

What the court decided

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