Allowed

Karur Vysya Bank Limited v. a. Rajesh Babu

DRT4 Aug 2025OA/455/2025

Case brief

AI extract

What is this about?

The DRT allowed the bank's original application for recovery of Rs. 1.9 crore plus interest and costs from defendants who remained absent, securing the claim against mortgaged properties.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 1,90,55,543.29 with future interest @10.50% p.a., costs, and realization of debt via mortgaged properties and defendant properties.

Karur Vysya Bank Limited versus a. Rajesh Babu — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE O4TH DAY OF AUGUST, 2025

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

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ORIGINAL APPLICATION No: 455 OF 2025

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Karur Vysya Bank Limited., Main Branch, Tirupath i. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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A.Rajesh Babu, S/o.Late A.Lokanandham Aged 50 Years, Occ: Business H.No. 18-1-359, Bhavani Nagar Tirupati - 517501.

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Smt. A.Kavitha, w/o.A.Rajesh Babu Aged about 45 Years, Occ: Housewife H.No. 18-1-359, Bhavani Naga r Tiru pati - 517501.

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Smt.A.Vasantha, W/o. Late A.Lokanandham Aged 73 Years, Occ: House Wife H,No.18-1-359, BHava nl Naga r Tirupati-517501.

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... Defendants

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Counsel for the Applicant : I\4/s.Lanka tagannadham

Defendants

: Ex-parte

:: O-LLE& ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,90,55,543.29ps from the defendants jointly and severally with future interest @11.45olo p.a. from the date of application till the date of realization along ./ith costs and in default for sale of OA schedule properties.^* i. i.^-

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oA.NO.455/2025

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Summons served on D1 to^{3. They were set ex-parte on} 11.O7.2025 as called absent^{and no representation.}

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The Applicant Bank examined^{PNSVChalapathiRao, Senior} Manager, as AW-1 and^{marked 14 documentsthrough himas} Ex. A.1 to Ex. A.14.

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Heard the Ld. Counsel for the^{Applicant Bank' Perusedthe} material^placed on record.

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The^point that arises for consideration^is:-

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

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As stated supra, the Defendants^{remained ex-parte. The} Evidence Affidavit coupled with the recitals in the^documents viz., Exs. A.1 to A.14 marked on behalf of the^{Applicant Bank} clinches the claim of the Applicant^{Bank against the Defendants.} Hence, I hold that the Defendants are^jointly and^{severallyliable} to pay the OA claim to the Applicant^{Bank with futureinterest} and costs.

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In the result, the^present Original Application No.455/2025^is allowed as under:^-

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.1,90,55,543.29ps with future interest @10.50o/o p.a. simple from the date of application till the date of re

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oA.NO,455/2025

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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 entifled to proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entiued for the costs.

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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 accordingly.

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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 o4'h Day of Au8ust, 2025).

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tffis9

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'sfD0rin xotre) PRESIDING OFFICER

Karur Vysya Bank Limited v. a. Rajesh Babu

Case brief

What is this about?

What did the court decide?

Karur Vysya Bank Limited v. a. Rajesh Babu

Case brief

What is this about?

What did the court decide?

What the court decided

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