Allowed

Union Bank of India v. M/S Unique Packaging Enterprises

DRT18 Feb 2025OA/295/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by the applicant bank. The court, acting ex-parte due to respondent absence, held respondents jointly and severally liable to pay the claimed loan amount plus future interest and costs. It also directed the bank to proceed against hypothecated assets and other properties for realization.

What did the court decide?

Direct order to pay principal sum, future interest, and costs; entitlement to proceed against hypothecated assets and defendant properties; issue of recovery certificate.

Union Bank of India versus M/S Unique Packaging… — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 18th DAY OF FEBRUARY, 2025

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

¶3

ORIGINAL APPLICATION No: 295 OF 2024

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Union Bank of India., Bach upa lly Branch, Survey No.3&6, 14LR Complex, Bachu pally X Road, Hyderabad, Telangana - 500091. Rep, by its Authorized Officer.

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.....Applicant.

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Versus

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M/s. Uniq ue Packaging Enterprises., Represented by its Proprietor Mrs.Yasmeen Begum, office at H. No.8-7- 1431 1, Ghori Nagar, Old Bowenpally, Secunderabad - 500011.

¶8

Mrs.Yasmeen Begum, D/o. Shaik Bablu,

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Aged about 36 Years, Occ: Business, H.No.8-7-14311, Ghori Nagar, Old Bowenpally, Secundera bad - 500011.

¶10

... Defenda nts

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Counsel for the Applicant : M/s.V.Sethu Madhava Rao

¶12

Defendants

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: Ex-parte

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:: ORDER ::

¶15

The Applicant Bank filed the present OA for the recovery a total sum of Rs.26,19,616.43ps under Term Loan A/c. No. .,Zhwa,9

!/'"x'

oA.NO.29sl2024

162016180000031^{from the defendantsjointly and severally} with future^{[email protected]/op.a' with monthly rests from the} date of application^{till the date of reatizationalong with costs} and in default^{for saleof hypothecated assets'}

¶20

Summons^{served on D1} and 2 through^{paper publication.They} 14.10.2024 as^{called absentand no}

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were set ex-parte^on representatlon.

¶22

The Applicant^{Bank examined K.V.Sai Pavan,} Branch Manager, as AW-1 and^{marked 12 documents through} him as Ex. A.1^to Ex. A.12.

¶23

Ld. counsel for^{the ApplicantBank 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?

¶26

As stated supra,^{the Defendants remained ex-parte'The} Evidence Affidavit^{coupledwith the recitalsin the documents} viz., Exs. A.1 to^{A.12 marked on behalfof the Applicant Bank} clinches the^{claim of the Applicant Bank against the Defendants'} Hence, I hold that^{the Defendantsare jointlyand severallyliable} to^pay the oA^{claim to the Applicant Bank with futureinterest} and costs.

¶27

In the result,^{the present orlginalApplication No.295/2024is} aflowed as under: - m*

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oA.NO.29s12024

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.26,19,616.43ps under Term Loan A/c. No. 162016180000031 with future interest @11.05o/o^p.a. simple from the date of application till the date of realization;

¶30

ii) the OA claim is secured by way of hypothecation of assets 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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iii) the applicant bank is 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.

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Issue Recovery Ce rtificate 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 18rh Day of February,2O25).

¶36

t - '.r' ' (RAMESHWAR KOTHE) PRESIDING OFFICER

Union Bank of India v. M/S Unique Packaging Enterprises

Case brief

What is this about?

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Union Bank of India v. M/S Unique Packaging Enterprises

Case brief

What is this about?

What did the court decide?

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