The Debts Recovery Tribunal allowed an Original Application filed by Union Bank of India for recovery of dues of Rs. 21,97,140.33 from two loan-defaulter respondents, holding the evidence sufficient and the defence non-tenable.
Defendants jointly and severally liable to pay Rs. 21,97,140.33 with interest; Recovery Certificate issued; Mortgage property liable.
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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD
DATED THrs rHEgrH DAy oF AUGUsr, 2o2s
PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER
OA.No.4S oJ 2O24
Between:
Union Bank of India, Branch at Asifnagar, Pattapu enclave, 10-3-29 t/9 , Yijayanagar colony, Hyderabad, TS - 500 057. Represented by its Authorised officer
Applicant
VERSUS
Junior college, Ponnapalli Plaza, Prashanth Nagar, Uppal Kalan,
Hyderabad - 500 039. TS.
Junior college, Ponnapalliplaza, Prashanth Nagar, Uppal Kalan, Hyderabad - 500 039. TS.
Defendants
Counsel for the Parties:
For the Applicant
BachinaHanumantha Rao
Defendants ..,L P. Vinod Lal
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(OA.No.45 of 2024)
ORDER
1' The Applicant Bank fired the present oA against Defendants for recovery of a total sum of Rs.2L,97,l4o.33ps (Rupees Twenty One Lakhs Ninety Seven Thousand One Hundred forty and paise thirty three only) with future interest @ 13.55% p.a from date of filing of oA till the date of realization and in default for sale of mortgaged property as described in the schedule to OA.
As per the averments in the application, the Applicant Bank states that the defendant No.1 and 2 availed loan of Rs.35.00 lakhs against mortgage of schedule property. The defendants executed all necessary loan documents such as demand promissory note, letter of continuity, letter of undertaking from borrower, interest agreement, General term loan agreement and letter of confirmation etc dated 20.02.2077. The defendants created equitabre mortgage in favour of Applicant bank by depositing originar tifle deeds vide memorandum of deposit of tiue deeds bearing documents no.tsoT/20t7 dated 09.02.2017, Release deed bearing documents no.26/20L7 dated 02.0L.2077 and Regd Sale deed document no.34L2/2e09 dated 30.04.2009. It is submitted by the Applicant bank that the Defendants have availed the said loan facilities and failed to keep up the repa such the account was classified as NpA. I nspite Applicant the defendants have not reg u Applicant bank issued demandnotice
(OA.No.45 of 2024)
dated14.01.2020, but the defendants did not come forward to repay the same. The total claim of Applicant against defendants is of Rs.2L,97,L4O.33ps (Rupeeq Twenty One Lakhs Ninety Seven Thousand One Hundred forty and paise thirty three only) with future interest @ 13.55o/o p.a From date of filing of OA till the date of realization. Hence the OA.
(OA.No.45 of 2024)
Point No.i):
the defendan
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Point
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(OA.No.4s of 2024)
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ov r,er, corrected, sisned and pronounced by me in the open court on Wrli;r:TilTjoea
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TRUECOPY (G. GOPTCHAND) PRESIDING OFFICER o*,M-L\9 DRT.I,HYDERABAL 5
2 issues framed by the court
Whether the applicant bank proved its claim as made in the original application for recovery of the loan amount.
Whether the defence taken by the defendants regarding payment and limitation is tenable.
Union Bank of India, Branch at Asifnagar
Mr. Bazaru Arun Kumar
Mr. Badri Narayan
Sri Gummadu Gopichand
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
