Allowed

Union Bank of India v. narayana swamy

DRT24 Jun 2025OA/45/2025

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the Original Application filed by Union Bank of India, declaring two defendants jointly and severally liable to repay a debt of 21 lakh rupees plus future interest and costs, secured by mortgage and other properties.

What did the court decide?

Defendants declared jointly and severally liable to pay Rs. 21,45,863.16 with future interest @10.40% p.a. simple and costs; OA claim secured by mortgage; Recovery Certificate to be issued.

Union Bank of India versus narayana swamy — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

¶2

DATED THIS THE 24TN DAY OF ]UNE, 2025

¶3

PRESENT: SH. RAMESHWAR KOTHE, B.COM,, L.LB. (HONS.), IVI.A. PRESIDING OFFICER

¶4

OR]GINAL APPL]CATION No: 45 OF 2025

¶5

U nion Bank of India., (e-Corporation Bank) # 256/lC, Kadiri Road, Bathala pa lli - 515661, Ananthapu r District, Andhra Pradesh. Rep. by its Senior Manager.

¶6

.....Applicant.

¶7

Versus

¶8

N4r. Midathala Narayana Swamy, S/o. N4idathala Akkulappa, Male, Aged 40 Years, #3-90a, Venkataglri Palli, OC Colony, Batha la pa lly, Ana nthapu r District, Andhra Pradesh - 51 5661.

¶9

lvlr. M.Adinarayana, S/o. M. Rosa ppa, lvlale, Major, #3 - 71,3, B C Colony, Bathalapally, Ananthapur District - 515661, Andhra Pradesh.

¶10

...Defendants

¶11

: M/s.Srinivasa Rao Chakrala Counsel for the Applicant Defendants : Ex-pa rte

¶12

:: qB-[f(

¶13

¶14

The Applicant Bank filed the present OA for the recovery a total sum of Rs.21,45,863.16ps i.e., a sum of Rs.19,69,531.34ps and a sum of Rs.1,76,331.82ps from the defendants^jointly and

¶15

,^{severallywith [email protected]/0& 7.2Oo/o} M*^{p.a. from the}

¶16

oA.NO.4sl202s

¶17

¶18

the date of^{realizationalong wlth costs} date of application^till and in default^{for sale} of OA schedule ProPerties.

¶19

Summons served^{on D1 and 2. They were set ex-parteon} 20.03.2025^{as called absentand no representation'}

¶20

The Applicant Bank examined^{N'Sreenivasulu,Asst Manager,} as AW-1 and marked 24 documents^{through him as Ex. A 1 to} Ex. A.24.

¶21

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

¶22

The^point that^{arises for consideration is:-}

¶23

Whether the Applicant^{Bank is entitled} for the claim made in the^{OA against} the Defendants and^{OA schedule} properties?

¶24

As stated supra, the^{Defendants remained ex-parte The} Evidence Affidavit^{coupledwith the recitals in the documents} viz., Exs.A.1 to A.24^{marked on behalf of the ApplicantBank} ctinches the claim of^{the Applicant Bank against the Defendants'} Hence, I hold that^{the Defendants are jointlyand severallyliable} to^pay the OA^{claim to the Applicant Bank with future interest} and costs.

¶25

In the result, the^{present Origlnal ApplicationNo'45/2025is} allowed as under:^-

¶26

i) The Defendants are^{jointly and severally} liable to^pay to the Applica)rRf,lk.a.^total a4'"-'

¶27

oA.NO.45/2025

¶28

¶29

sum of Rs.21,45,863.16Ps^i.€.,the defendants 1 and^{2 are jointlyand severally} liable to^pay a sum of^{Rs.19,69,531.34psand} the 1st defendant^{is liable to pay a sum of} Rs.1,76,331.82ps with^{futureinterest} @10.40olo^{p.a. simple from the date of} application till the^{date of realization;}

¶30

ii) the OA claim is secured by^{way of mortgage} of properties described^{in the schedule} annexed to the^{OA and the applicantbank is} entitled to^{proceedagainstthe same to} realise its debt;

¶31

iii) the applicant bank^{is also entitled to proceed} against the^{person and properties of} defendants for^{realization of its dues;}

¶32

iv) the applicant bank^{is entitledfor the costs.}

¶33

B. The Applicant Bank^{is directed to file Cost Memo within2 weeks} from the date of^{receipt of this Order.}

¶34

Issue Recovery Certificate^accordingly'

¶35

Communicate a copy^{of this order to the parties concerned'} (Dictated to the steno, corrected,^{signedand pronounced by me in the open court on} thisthe 24thDay^of June,2025).

¶36

fl*ry__.*yo //,14qv'(ftdesnwnR KorHE) PRESIDING OFFICER

Union Bank of India v. narayana swamy

Case brief

What is this about?

What did the court decide?

Union Bank of India v. narayana swamy

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

State Bank of India versus Thathari Naveen Kumar

Hdfc Bank Ltd. versus Voruganti Shailaja

Hdfc Bank Ltd. versus M/S. v R Global

Hdfc Bank Ltd., versus M/S. Bvrr Foods Processing Industries Private Limited

Hdfc Bank Ltd., versus Mr. a Panchakshari Reddy

M/S. Yes Bank Limited. versus Mrs. Padela Navya