Allowed

Bank of Baroda v. Mrs. Ragula Kavitha

DRT10 Jan 2025OA/319/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the application filed by Bank of Baroda for recovery of an outstanding home loan sum along with future interest and costs against two defendants who failed to comply with loan terms.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 57,02,812.60 with future interest; bank entitled to proceed against mortgaged and personal properties; Recovery Certificate issued.

Bank of Baroda versus Mrs. Ragula Kavitha — Consumer Protection | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THrS THE lOrH DAy OF JANUARY,2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.319 ot 2024

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Between:

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Bank of Baroda, ROSAR Branch, Basheerbagh branch, Hyderabad. Telangana State Repby its Chief Manager

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Applicant

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VERSUS

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Mrs. RagulaKavitha, w/o Mr. RagulaVenkatesh, aged 48 years, flat no.50B, 5th floor, BNR Apartments, Pillar No.123, Attapur road, Behind Westside Showroom, Hyderabad - 500 048.

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*$ 2. SriRagulaVen katesh, s/o Sri R. Yadaiah, male,,' a.g-ed major, flat no.50B,' * 10 5th Floor, BNR Apartmenfs, Pillar No.123, Attapur road.'-, Behind Westside Sh Hyderabad - 500 048. Defendants

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Counsel for the Parties: For the Applicant For the Defendants

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Sri Srinivas Chitturu Exparte

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(OA.No.319/2024)

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ORDER

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The Applicant Bank filed the^present OA against^{Defendants for} recovery of a total sum of Rs.57,O2,812.6Ops^{(Rupees Fifty} Seven Lakhs Two Thousand Eight^{Hundred Twelve and paise} Sixty only) with current and future^interest @^{10.80o/o p'a with} monthly rests from date of application till^{the date of realization and} in default for sale of mortgaged^property as^{described in the} schedule to OA.

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As per the averments in the application,^{the Applicant Bankstates} that defendants availed home loan of^{Rs.41.00 lakhs and the loan is} secured by the equitable mortgage of^{application schedule property.} The defendant no.1 executed^{Dena Niwas loan agreement,letter of} general lien and set off for borrowing arrangements on 21.05.2016. The memorandum of deposit of title^{deeds dated 20.05.2016} evidencing the mortgage is registered^{as document No.3068/2016in} the office of Sub-Registrar, Charminar.^{After availing the loan} facility, the defendants failed to comply^{the terms of sanction,hence} the applicant bank was constrained to^{classifythe account as NPAon} 30{A^u'o^{r:'i ''''L',} ed demand notice dated 06.05.2021.^Inspite gtr$6veral reguests'$0 - demands, the defendants did not clear^the ,!,:^:.' .r,* outstanding. Herce this -tOA.

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(oA. No.319/202a)

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Defendants called absent and set exparte on 23.L2.2024.

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Sri K. Ajay Kumar, Chief Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.9.

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arise for consideration is whether the Applicant Bank is entitled for the claim made in the OA against the Defendants as prayed for?

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Defendants remained exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited relevant documents as Ex.Al to A.9. In view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants and hence the Applicant Bank is entitled to recover the claim made in the OA with future interest and costs.

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B. In the result, the present OA is allowed with costs, as under:

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The Defendants are jointly and severally liable to pay to the I sum of Rs.57,02,812.60ps (Rupees Fifty

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f,-;m,; sand Eight Hundred Twelve and paise

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SYxty 1 pnl*il ffi$ .u and future interest @ 10.80o/o p.a from date of realization;

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(oA.No,31912024)

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The Applicant bank is entitled to proceed against the mortgaged

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property as described in schedule to OA towards realization of the

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debt due.

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The Applicant Bank is also entitled to proceed against the person and properties of defendants towards realization of the debt due.

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The Applicant Bank is entitled to the costs of the OA.

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The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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Issue Recovery certificate accordingly.

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communicate a copy of the order to the parties concerned.

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(Dictated to the P'A., transcribed by her, corrected, signed and pronounced by me in the open court on this the l0thday of Jan, 2025)

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sd/ - (G. GOPTCHAND) PRESIDING OFFICER

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,##llixa',,

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Bank of Baroda v. Mrs. Ragula Kavitha

Case brief

What is this about?

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Bank of Baroda v. Mrs. Ragula Kavitha

Case brief

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