Allowed

Union Bank of India v. Mr. Sivva Revanth Kumar

DRT15 Jul 2025OA/448/2024

Case brief

AI extract

What is this about?

A Recovery Application filed by a bank was summarily disposed of on Defendant's absence. The Court accepted the bank's evidence and documents, holding the bank entitled to recover the outstanding loan principal, interest, and to proceed against the mortgaged property.

What did the court decide?

Allowed with costs. Ordered to pay Rs.62,41,341.27ps with interest at 8.45% p.a. and proceed against mortgaged property and defendant's person.

Union Bank of India versus Mr. Sivva Revanth Kumar — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNATDATED THIS THE I'TH DAY o,,J.;,,,:::ERABAD PRESENT: SRI GUMMADI GOPICHAND, PRESTDTNG OFFTCER OA.No.44g OF 2024

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Between:

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ffilitdi#fuedssna,.ry

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VERSUS

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Applicant

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Mr. SivvaRevanth Kumar, s/o- Sivva Ramesh frr.., aged about 36 r I?':'^{R7;; Jt"" lr"8li:} ffi ; ffi',i,i:'' il",il;:,^j' t?#i,1i J: ffiT:fu:?l so 6 o o 2

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Defendant

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Counsel for the parties: For the Applicant : For the Defendant Sri Momin Mohammed Rafiq : Exparte

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ORDER

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1' The Appricant Bank fired the present oA against Defendant for recovery of a totar sum of Rs.62,41 ,34r.27ps(Rupees sixty Two

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at:-nn"^{lT,one thousandThreeHundred Fortyone and paise} .+IS:lttt. ' *-'a:.]ir 't f,I OnlY) with interest @ 8.45olo ..,LV,LJL # o.+)"/o p.a with mOnthly i:;,ii^.qL,, '"rffi^uronJ resffialong'ff\penar interest @ 20/o p.a from the date of firing of I s dilt ffin Tll

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W*tt,t

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(oA.No.aa8/2O241

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oA tiil the date of rearization and in defaurt for sare of mortgaged property as mentioned in the schedule to OA.

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As per the averments in the apprication, the Appricant Bank states that defendant availed Housing loan of Rs.49.00 lakhs on 13.04.2018 and executed sanction tetter, demand promissory note, agreement, letter of undertaking and housing loan agreement dated 13.04.201g. the defendant created mortgage of schedule property (more fully described in the schedule to OA) in favour of Applicant bank and deposited the original sale deed no.833/2018. After availing the loan facilities, the defendants failed to comply^{the terms of sanction,} hence the applicant bank classified the^{account as NPA and issued} demand notice on 01.03^{.2024 and possession notice dated} 07.05.2124.Inspite of^{several requests and demands,the defendant} did not clear the outstanding.^{Hence this OA'}

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Defendants^{called absent and set exparte on 23.04'2025'}

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of the^{APPlicant Bank examined}

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1. Sri ChandanKumar,^Manager relevant^{documents,which are}

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himself as^{AW.1 and exhibited} marked^{as Ex.A'1 to A'13'}

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<br>15 JlJL2m
* ,: i
2

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(oA.No.aa81202a)

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The point that arise for consideration is whether the Applicant Bank is

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entitled for the claim made in the OA against the Defendant as

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prayed for?

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Defendant remainedexparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited rerevant documents as Ex.A1 to A.13. In view of the above, I hold that the Applicant Bank has established their claim made in the oA against the Defendant and hence the Appricant Bank is entifled to recover the craim made in the oA with future interest and costs.

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B, In the result, the present OA is allowed with costs, as under: The Defendant is liable to pay to the Applicant Bank a total sum of Rs.62,41,341.27ps (Rupees Sixty Two Lakhs Forty One thousand Three Hundred Forty one and paise Twenty Seven onry) with interest @ 8.450/o p.a from the date of firing of oA tiil the date of realization.

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The Applicant bank is entiued to proceed against the mortgaged

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property more fully described in the schedule to OA towards

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realization of the debt due. :

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Bank is also entiiled to proceed against the person of defendant towards realization of the debt due.

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,$Jiu{i{#

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(OA.No.a48l202a)

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The Applicant Bank is entifled to the costs of the OA.

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12' The Appricant sha, flre a cost memo within two weeks from the date of receipt of order.

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Issue Recovery ceftificate accordingly.

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communicate a copy of the order to the parties concerned.

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(Dictated to the p.A., transcribel thisthe 15th dayofJuly, ,orrf ot her, corrected, signed and pronounced by me in the open court on

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sd/-

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(G. GOPTCHAND) PRESIDING OFFICER

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1 5 Jut tfitc ;
^*l

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qYxffik-'
DRI-I, iiY'E'iAL'.

Union Bank of India v. Mr. Sivva Revanth Kumar

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Mr. Sivva Revanth Kumar

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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