Allowed

Union Bank of India (e-Corporation Bank) v. M.Ramakanth

DRT30 Apr 2025OA/387/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by Union Bank of India against two respondents. Holding that the documentary evidence clinched the claim, the tribunal declared the defendants jointly and severally liable to repay the outstanding dues with future interest and costs.

What did the court decide?

Defendants directed to pay specified sums with future interest and costs; recovery certificate to be issued.

Union Bank of India (e-Corporation Bank) versus M.Ramakanth — DRT (2025) — LawSathi Research

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE 3oth 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: 387 OF 2024

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Union Bank of India., (e-Corporation Bank) Bathala palli Branch Ananthapur District. Rep. by its Authorized Signatory.

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. ....Applica nt.

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Versus

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Mr.M.Ramakanth,

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S/o.Pedda Hanumanthu, Male,

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Major, Sanjeevapuram Village, Bathalapalli, Ananthapur District - 515661, A.p.

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Mr. Mullaguri Chakrapani, Male, Major, # 5/L43,

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Sanjeevapuram, Bathalapalli, Ananthapur District - 515661, A.p. ...Defendants

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Counsel for the Applicant : M/s. Srinivasa Rao Chakrala

Defendants

: Ex-parte

:: qLD.q& ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.38,32 ,694.94ps i.e., a sum of Rs.1,73,232.44ps under A/c. No.0299250300000015 with Future interest @10.40%^p.a. and a sum of Rs.36,59,462.50ps under A/c. No.560931000298253 with future interest @11.90o/o p.a. from the defendants jointly and severally from the date of application till the date of realization along with costs and in default For sale of OA schedule OroO.rti"t. fiffng

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oa,No.387/2024

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Summons served on D1 and^{2. Theywere set ex-parteon} 24.09.2024 as called absent^{and no representation.}

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The Applicant Bank^{examined N.Sreenivasulu,Asst. Manager,} as AW-1 and^{marked 15 documentsthrough him as Ex.A.1 to} Ex.A.15 and examined^{l.ChinnaLinganna,Sr' lYanager, as AW-} 2 and marked 02 documents^{through him as Ex.A.16&} Ex.A.17.

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Ld. Counsel for the Applicant Bank^{repoded orders may be} passed through merits. Perused the written arguments^and 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^schedule properties?

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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.l to A.17 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.387/2024 is allowed as under:^-

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a total Oo**"

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oA.NO.387 /2024

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sum of Rs.38,32,694.94ps i.e., the 1't defendant is liable to pay a sum of Rs.L,73,232.44ps under A/c. No. 0299250300000015 and the defendants 1 and 2 are^jointly and severally liable to pay a sum of Rs.36,59,462.50ps under A/c. No. 560931000298253; with future interest @10.40olo^{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 properties described in the^schedule annexed to the OA and the^{applicant bank is} entitled to^proceed against the^{same to} realise its debq

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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 entitledfor the costs.}

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The Applicant Bank is directed^{to file CostMemowithin2 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} this the 3oth Day of April,^2025).

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ffi""fr

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Union Bank of India (e-Corporation Bank) v. M.Ramakanth

Case brief

What is this about?

What did the court decide?

Union Bank of India (e-Corporation Bank) v. M.Ramakanth

Case brief

What is this about?

What did the court decide?

What the court decided

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