Allowed

Bank of India v. M/S Kavitha Air Equipments Systems

DRT6 May 2025OA/390/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the original application filed by Bank of India for recovery of a loan amount. The court held the defendant legal heirs liable for the debt to the extent of the deceased mortgagor's estate and directed issuance of a recovery certificate.

What did the court decide?

Direction to pay Rs. 43,49,213.71 with interest; recovery certificate issued; costs awarded to applicant.

Bank of India versus M/S Kavitha Air Equipments… — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE O6th DAY OF MAY, 2025

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PRESENT: SH. RAIVIESHWAR KOTHE, B.Com,, L.LB. (HonS.), IvI.A. PRESIDING OFFICER

¶4

ORIGINAL APPLICATION No: 390 OF 2024

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Bank of India., Balanagar Bra nch, 7-4-195/5, Grou nd Floor, Shiv Ganesh Complex, Balanagar, Hyderabad - 500011 Rep. by its Constituted Attorney.

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.... .Applicant.

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Versus

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M/s.Kavitha Air Equipments Systems., Proprietor Late Sri. G. Pra bhakar (Died), Plot No.33/3, Phase 2, IDA, Gandhinagar, (Mortgager), Jagadirgutta, Hyderabad - 500037.

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Late Sri.G. Prabhakar(Died), S/o.G.Rama Swamy,

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Plot No.33/3, Phase 2, IDA, Gandhinagar, (Mortgager), Jagadirgutta, Hyderabad - 500037.

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Late Smt.K.Nirmala, Wo.Late Sri.G.Prabhakar, 42-188, Anjaiah Na9ar, lagadirgutta, Hyderabad - 500037.

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G.Satish Kumar, S/o.Late Sri.G.Prabhakar, Plot No.33/3, Phase 2, IDA, Gandhinagar, Jagadirgutta, Hyderabad - 500037.

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Smt.Surabhi Swapna. Wo.Mahesh Goud, D/o.Late G. Prabhakar, R/o. H. No.1-31, Bonthapally village, lvledak Dlstrict - 502312.

,/)'Y*uu (r' ''

oA.NO.390/2024

Smt.Kuthuru Kavitha, W/o.Raju^Goud,

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D/o. Late G. Prabhaka r, R/o.H.No.6-10-1 10/3/A, Opp Govt. Hospita l, Vinaya k Nagar, Balanagar, RR District, Hyderabad - 500042.

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... Defendants

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Counsel for the Applicant

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: M/s. K.V. Nageswara Rao

Defendants

:Ex-parte

::^qLLE& ::

The Applicant Bank filed the^present OA^for the^{recovery a total} sum of Rs.43,48,213.71ps under Cash Credit^Loan A/c. No.864030110000005 from the defendants^jointlyand severally with future interest @11.75olo^{p.a. compoundedwith} monthly rests inclusive 2Vo^penal interest from the date^of application till the date of^{realization along with costs and in} default for sale of OA schedule^properties.

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Summons served on D1,4 to 6. They were^{set ex-parte on} f9.fi.2024 as called absent and no representation.^Applicant counsel filed a memo stating D4,5 & 6 are the^{LRs of} (deceased D2 proprietor of D1) and Deceased D3, who are already on record.

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The Applicant Bank examined Ponna Sudha, Officer^{Bank, as} AW-1 and marked 50 documents through^her as^Ex. A.¹ to^Ex. A.50.

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Heard the Ld. Counsel for the Applicant Bank. Perused the material^placed on record. Ow'

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oA.NO.390/2024

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The point that arises for consideration is:_

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Whether the Applicant Bank is entiued for the claim made in the OA against the Defendants and OA schedule properties?

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As stated supra, the Defendants 4 to 6 remained ex_parte. The Evidence Affldavit coupled with the recitals in the documents viz., Exs.A.1 to A.50 marked on behalf oF the Applicant Bank clinches the claim of the Applicant Bank against the Defendants 4 to 6. Hence, I hold that the defendants 4 to 6 to the extent of estate of deceased DZ (who was proprietor of 1st defendant) and deceased D3, now lying in their hands; are 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 Apptication No.390/2024 is allowed as under: -

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i) The defendants 4 to 6 to the extent of estate of deceased D2 (who was proprietor of 1.t defendant) and deceased D3, now lying in their hands; are liable to pay to the Applicant Bank a sum of Rs.43,49,213.71ps under Cash Credit Loan A/c. No. 864030110000005; with future interest @11.75% 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 hypothecation/mortgage of properties described in the schedules annexed to the OA

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oA.NO.390/2024

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and the applicant^{bankis entitledto proceed} against the^{sameto realiseits debt;}

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iii) the applicant^{bank is entitledfor the costs'}

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B. The Applicant^{Bank is directed to file Cost Memo within2 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,signedand pronouncedbymein the open courton} this the 06th^{DaYof MaY,2025).}

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Bank of India v. M/S Kavitha Air Equipments Systems

Case brief

What is this about?

What did the court decide?

Bank of India v. M/S Kavitha Air Equipments Systems

Case brief

What is this about?

What did the court decide?

What the court decided

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