Allowed

Bank of Maharashtra v. M/S. Ss Infra Structure Development Consultants Ltd.

DRT2 May 2025OA/407/2024

Case brief

AI extract

What is this about?

This order allowed an Original Application by Bank of Maharashtra for recovery of Rs.8.36 crore from four respondents, including a firm, held to be jointly and severally liable. The bank is entitled to future interest and proceed against secured and unsecured properties and persons.

What did the court decide?

Defendants jointly and severally liable to pay Rs.8.36 crore with future interest of 12.70% p.a.; bank entitled to proceed against mortgage properties and persons/properties of defendants.

Bank of Maharashtra versus M/S. Ss Infra Structure Development… — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE O2ND DAY OF MAY, 2025

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PRESENT: SH. MMESHIVII_IOIHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 407 OF 2024

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Bank of Maharashtra,, Branch Office at Khairatabad Branch, Hyderabad.

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Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s.SS Infrastructure Development Consultants Ltd., Rep by its Directors, Sundara Satyanarayana, And Palle Sheshagiri Rao, O/o.No,15, Jabbar Building, Begumpet, Hyderabad - 500016, T.G.

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Sundara Satyanarayana, !/9.ASn^{Rao, Age 54 years,Occ:Business,} Flat No.102, Windsor Apartment, Hyderabad - 500016, T.G.

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Palle Sheshagiri Rao, S/o.P.V,Subba Rao, Age 44 years, Occ: Business, Flat No.1O2, Windsor Apartment, Hyderabad-500016, T.G.

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4, Managalampally Srirama Murthy, R/o.Flat No.405, Tirumala Arcade, Hasmatpet, Old Bowenpally, Secunderabad - 500009, T,S.

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. . . Defendants

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Counsel for the Applicant : M/s.G.Adrian Kiran Raj Defendants : Ex-parte ffi.r*

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oA.NO.407/2024

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:: ORDER^::

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The Appllcant^{Bank filed the present OA for the recovery a total} sum of^{Rs.8,36,91,232.5gpsas on 17 '07 '2024 from the} defendants^{jolntly and severallywith future interestper annum} with monthly^{rests from 17.07} '2024^{till the date of realization} along with^{costs and in default for sate of OA schedule} properties.

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Summons^{servedon D1 to 4They were set ex-parte} 07.Lf .2024^{as called absentand no representation'}

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The Applicant Bank examined^{A.Divya Goud,Deputy Manager'} as AW-^{1 and} marked 71^{documents through her as Ex A lto} Ex. A.71.

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Ld. Counsel^{for the ApplicantBank reported orders may be} passed through merits.^{Perusedthe written arguments and} material Placed^{on record.}

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The^point that^{arises for considerationis:-}

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Whether the^{Applicant Bank is entitled} for the claim^{madein the OA against} the Defendants^{and OA schedule} propefties?

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As stated supra, the^{Defendants remained ex-parte The} Evidence Affidavit^{coupled with the recitalsin the documents} viz., Exs.A.1 to A.71^{marked on behalf of the ApplicantBank} clinches the claim of^{the Applicant Bank against the Defendants'} Hence, I hold that the^{Defendantsare jointlyand severallyliable} to^pay the OA claim to the^{Applicant Bank with} future^interest ' Atnitl.f\

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and costs. //Zot_r.

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oA.NO,4O7l2024

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In the result, the present Original Application No.407/2024 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.8,36,91,232.59ps as on 17.07.2024 with future interest @l2.7Qo/o 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 debt;

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iii) the applicant bank is also entitled to^proceed against the person and^properties of 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 Cost Memo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certificate a cco rd in^g 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 02"d Day of May, 2025).

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:.".---

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.-:

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Bank of Maharashtra v. M/S. Ss Infra Structure Development Consultants Ltd.

Case brief

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Bank of Maharashtra v. M/S. Ss Infra Structure Development Consultants Ltd.

Case brief

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