Allowed

Union Bank of India v. Mrs. Medi Suvarna

DRT15 Sept 2025OA/339/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Union Bank of India against Mrs. Medi Suvarna for recovery of a home and personal loan default, granting a sum of Rs. 58.16 lakhs with interest and permitting procedural steps for debt realization.

What did the court decide?

Defendants liable to pay Rs. 58.16 lakhs with interest; recovery certificate issued; affidavit required.

Union Bank of India versus Mrs. Medi Suvarna — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD

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DATED THIS THE 15TH DAY OF SEPTEMBE& 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESTDING oFFICER

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OA.No.339 ot 2024

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Between:

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Union Bank of India, Narayanaguda branch, Hyderabad, TS. Represented by its Manager

...

Applicant

VERSUS

Mrs. Medi Suvarna,

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D/o M. Krishna Rao,

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H.No.6-3-233l7, New Bhoiguda,

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Near Gandamma temple,

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Hyderabad - 500 003.

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Mrs. Medi Suvarna,

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d/o M. Krishna Rao,

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H. No.4-7-3 1/ L (Old 4-9-2L7) LIC colony, Bagh Hayathnaga, Hyderabad - 500 070.

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Defendants

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Counsel for the Parties:

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For the Applicant For the Defendants

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: Sri K. Murali Babu

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: Sri Ch. Srinivas

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ORDER

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The Applicant

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recovery of a

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nt OA against Defendants for ,341/-^(Rupees Fifty Eight red and Forty one only) thly rests from 23.04.2024

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(oA.33e/20241

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till the date of realization and in default for sale of mortgaged property as mentioned in the schedule to OA.

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As per the averments in the application, the Applicant Bank states that defendants no.1 & 2 availed home loan of Rs,5g.00 lakhs for purchase of schedule property and also availed personal loan of Rs.7.00 lakhs on 29.03.2023 and executed all necessary documents. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NpA on 15.04.2024 and legal notice was issued on 22.04.2024, Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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Counsel for defendants filed vakalath but failed to file written statement.

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Sri Shobhan Babu Ganta, Branch Head ofthe Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.16.

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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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Counsel for defendants filed vakalath but failed to file WS. To -f):^{-''.: --''} substantiAf€:'1g{!liase.g-f. the Applicant Bank, AW.1, official of the /,/ -,{. i'i SL r:, ApplicflibDank waqtxaminEi+d he exhibited relevant documents as ex.er{[$n.re. 5 rggpigppr tn8[oor", I hotd that ihe Appricant Bank l\E 1 i":i * ,.. !',u \i'j,l}..,,^{.,.,,-,;,1"',,'-;t'''z} '; ,1^: ;'-t '' ; -,1 tiitlr'7' ' .: -- '--_ i'.::a. '

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(oA.339120241

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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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In the result, the present OA is allowed with costs, as under: The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.58,16,34t1- (Rupees Fifty Eight Lakhs Sixteen Thousand Three Hundred and Forty one only) with future interest @ 9.40o/o p.a from 23.04.2024 till the date of realization.

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The Applicant Bank is entitled to proceed against the mortgaged property as mentioned in the schedule to OA towards realization of the 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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t2. 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$er, corrected, signed and pronounced by me in the open court on of Sept, 2025)

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Union Bank of India v. Mrs. Medi Suvarna

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Mrs. Medi Suvarna

Case brief

What is this about?

What did the court decide?

What the court decided

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