Allowed

City Union Bank Limited v. M/S Anantapur Tempo House

DRT31 Jan 2025OA/373/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by City Union Bank Limited for recovery of dues. The defendants were ex-parte. The tribunal held defendants jointly and severally liable and directed issuance of recovery certificate.

What did the court decide?

Defendants 1 to 4 directed to pay Rs.84,99,408.09 with future interest; recovery certificate to be issued; bank entitled to proceed against mortgaged property and persons.

City Union Bank Limited versus M/S Anantapur Tempo House — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 31ST DAY OF ]ANUARY, 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: 373 OF 2024

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City Union Bank Limited., Anantapur Branch, 15/703, Kamala Nagar, Sreekandam Circle, Opp.Junna Iron Mart, Anantapur-515001, Andhra Pradesh.

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Rep. by its Power of Attorney

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....Applicant.

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Versus

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M/s.Anantapur Tempo House, Rep by its Proprietor

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Sri. K. Raghavend ra, Having its Office at 4/7/900/5, Jeiante Complex Celles, Bellary Road, Anantapur - 515001.

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Sri. K. Raghavendra, S/o.Sivasankar, Aged about 37 Years, Occ: Business, Resident of 6-291/H, 3'o Floor, Bellary Road, Anantapur, Andhra Pradesh.

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Sri.K.Siva Sankar, S/o. K.Saranappa, Aged about 60 Years, Occ: Business, Resident of 1-502, Chakali Street, Raja li, Mahboobnagar - 509126.

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Sri. S.Venkatappaiah Chowdary, S/o. S.Jawa ha rlal, Aged about 54 Years, Occ: Business, Resident of Door No.3-214, Tapovan Nagar, Anantapur - 515004.

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Smt.S.Ushadevi, W/o. S.Ve n kata^ppa ia h Chowdary, Aged about 45 Years, Occ: Business, Resident of Door No.3-214^Tapovan-Nagar, Anantapur - s1s0o4. /)Y."' (-)/

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...Defendants

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oA.NO.373l2024

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Counsel for the Applicant

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: lY/s.R.Rajendra Prasad

Defendants

:Ex-parte

:: g-LLLL ::

The Applicant Bank filed the present OA for the recovery a sum of Rs.84,99,408.09ps and a sum of Rs.3,90,651.46ps from the defendants^jointly and severally with future interest @24olo p.a. with 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 D7, 2,4 and 5 through paper publication, whereas summons sent to D3 returned with endorsement refused hence, deemed to be served. They were set ex-parte on 22.08.2023 as called absent and no representation.

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The Applicant Bank examined S.Rajesh Yadav, Branch Manager, as AW-1 and marked 30 documents through him as Ex. A.1 to Ex. A.30. It is submitted that applicant is not pressing the claim against the defendant 4 and 5 with respect to the Loan A/c. No.501312030005721 and not pressing the relief (b) for recovery of the amount of Rs.3,90,651.46ps.

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Heard the Ld. Counsel for the Applicant Bank. 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 rAu L/K'*

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oA.NO.373/2024

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the Defendants and OA schedule property?

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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.30 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.37312024 is allowed as under: -

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i) The Defendants 1to 4 are jointly and severally liable to pay to the Applicant Bank a sum of Rs.84,99,408.09ps with future interest @150/0 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 ls 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 1 to 4 for realization of its dues;

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iv) the a pplica nt bank is entitled for the costs.

frry*"

oA.NO.373/2024

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 Certificate 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 31't Day ofJanuary, 2025).

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frw**

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lfiffiesnwnR^KorHE) PRESIDING OFFICER

City Union Bank Limited v. M/S Anantapur Tempo House

Case brief

What is this about?

What did the court decide?

City Union Bank Limited v. M/S Anantapur Tempo House

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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