Allowed

City Union Bank Limited v. M/S Sri Brama Ramba Oil Traders

DRT22 Apr 2025OA/35/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by City Union Bank Ltd. for recovery of loans totaling over Rs. 52 lakhs with future interest and costs. The tribunal held the defendants jointly and severally liable and directed the bank to proceed against mortgaged property and defendants' assets.

What did the court decide?

Defendants guilty to pay total sum of Rs.52,17,410.58 with future interest; bank entitled to proceed against mortgaged property and defendants' dues; Recovery Certificate issued.

City Union Bank Limited versus M/S Sri Brama Ramba Oil Traders — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 22ND DAY OF APRIL, 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: 35 OF 2025

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City Union Bank Ltd., Anantapur Branch, Anantapur. Rep. by its Branch Manager.

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.....Applicant.

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Versus

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M/s.Sri Brama Ramba Oil Traders.,

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Rep by its Prop: Mr.D.Giridhara Gupta, D.No.20130, Gandhi Bazar, Old Town, Anantapur Town and District, Andhra Pradesh - 515001,

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Mr.D.Giridhara Gupta,

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S/o.Late D.Krishna Murthy,

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Age 64 Years, Male,

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R/o. D.No.20130, Gandhi Bazar,

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Anantapur District, A.P - 515001.

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Mrs.D.Susheela Devi,

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W/o.Mr. D.Giridhara Gupta, Age Years, Female,

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R/o.D. No.20130, Gandhi Bazar, Anantapur District, A.P - 515001

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..Defendants

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: M/s.Trivikram Chitturu Counsel for the Applicant

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Defendants : Ex-parte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.52,17,410.58ps i.e., a sum of Rs.40,71,648.02ps ,AwruL*.f

:/y' -ry\ "

.,.

oA.NO.35/2025

under OLCC^{Facility withfuture interest@11olo p a and a sum} of Rs.11,45,762.56ps^{under ECLGSFacility with future interest} @9.250lo^{p.a. from the defendantsjointly and severallywith} monthly rests^{from the date of application till the date of} realization along^{with costs and in default for sale of OA} schedule ProPerty.

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Summons^{served on D1} to 3 through^{paper publicationThey} 11.04.2025 as^{called absentand no}

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were set ex-parte^on representation.

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The Applicant Bank examined^{S.Rajesh Yadav, BranchManager'} as AW-1 and marked 18 documents^{through him as Ex A l to} Ex.A.18.

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Ld. Counsel^{for the APP|icant} Bank reported orders^{may be} the material Placed^{on record.}

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passed through merits.^Perused

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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 schedule} propefty?

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As stated supra, the Defendants^{remained ex-parte. The} Evidence Affldavit coupled^{with the recitalsin the documents} viz., Exs.A.1 to A.18^{marked on behalf of the ApplicantBank} clinches the claim of the^{Applicant Bank against the Defendants'} Hence, I hold that the^{Defendantsare jointlyand severallyllable} to^pay the OA claim to the^{Applicant Bank with futureinterest} and costs. //824'Y tJ 1>"

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oA.NO.3sl202s

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In the result, the present Original Application No.35/2025 is allowed as under: -

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.52,17,4L0.58ps i.e., a sum of Rs.40,71,648.02ps under OLCC Facility and a sum of Rs.11,45,762.56ps under ECLGS Facility; with future interest @9.25olo^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 property described in the schedule annexed to the OA and the applicant bank^is entitled to^proceed against the same to realise its 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 entitled^{for the costs.}

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B. The Applicant Bank is directed^{to file CostMemowithin 2 weeks} from the date of receipt of this^Order.

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Issue Recovery Certificate according^ly'

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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} thisthe22"dDayof Aprir,2025).

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///(Iy?.s..Ot" ( ('/^'-t-

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luVesHweR^KorHE) PRESIDING OFFICER

City Union Bank Limited v. M/S Sri Brama Ramba Oil Traders

Case brief

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City Union Bank Limited v. M/S Sri Brama Ramba Oil Traders

Case brief

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