Allowed

Union Bank of India v. M/S Irya Apparels

DRT22 Apr 2025OA/466/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by Union Bank of India for recovery of a term loan amounting to Rs. 36,65,188.86 with interest against the joint and several liability of the defendants, holding their claim clinched due to ex-parte appearance and default.

What did the court decide?

Defendants jointly and severally liable to pay Rs.36,65,188.86 with future interest; bank entitled to proceed against hypothecated assets and property for realization; costs awarded.

Union Bank of India versus M/S Irya Apparels — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

¶2

DATED THIS THE 22ND DAY OF APRIL, 2025

¶3

PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A.

¶4

PRESIDING OFFICER

¶5

ORIGINAL APPLICATION No: 466 OF 2024

¶6

Union Bank of India., Bachupally Branch, Survey No.3 & 6, MLR Comptex, Bach upally X Road, Hyderabad, Telangana - 500091. Rep. by its Branch f4anager.

¶7

.....Applica nt.

¶8

Versus

¶9

lvl/s.Irya Appa rels., A Proprietary Concern Represented by its^proprietor Mrs.Santhoshini Son na kula, Business at 2nd Floor,^plot No.67, Sikh Road, Jupiter Colony, Secunderabad, Medcha I - [4alkajgiri, Telangana - 500009.

¶10

Also at:-

¶11

Office at H.No.3-4-308/7, Lingampa y, Opp Shanti Niketan High Schoot,

¶12

Kachiguda, Himayath naga r, Tela ngana- 5OOO27.

¶13

14rs.Santhoshini Son nakula, W/o.Sukumar Sonnakula, Aged about 46 Years, Occ: Business, H.No.3-4-308/7, Llnga m pally, Kachig uda, Tela n ga n a - 500027.

¶14

... Defenda nts

¶15

Counsel for the Applicant : lvl/s,V.Sethu Madhava Rao Defendants I Ex-paftery,l\e

oA.NO.465/2024

::^qLqLL::

The Applicant^{Bank filed the present OA for the recovery a total} sum of Rs.36,65,188.86ps^{under Term LoanA/c No'} 162016180000011^{from the defendants jointly and severally} with future interest @(11.55o/o^{I2o/openal)p'a wlth monthly} rests from the^{date of application till the date of realization} along with^{costs and in default for saleof hypothecated assets'}

¶20

Summons^{served on D1 & 2 through paperpublicationThey} were set ex-parte^{on 08.01.2025as called absentand no} representation.

¶21

The Applicant^{Bank examined K.V.Sai Pavan,BranchManager'} as AW-1 and^{marked 10 documents through him as Ex A'1 to} Ex. A.10.

¶22

Ld. Counsel for^{the APPlicant} Bank reported^{orders may be} passed through merits.^Perused the material Placed^{on record.}

¶23

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

¶24

Whether the Applicant^{Bank is entitled} for the claim made^{in the OA against} the Defendants^{and OA hypothecated} assetsT

¶25

As stated supra, the^{Defendants remained ex-parte The} Evldence Amdavit^{coupledwith the recitalsin the documents} viz., Exs.A.1 to^{A.10 marked on behalf of the ApplicantBank} clinches 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 ApDlicant Bank} '^{with futureinterest} /7)v<,\t9

and costs. /t//^'*"

oA.NO.466/2024

In the result, the^present Original^{Application No.466/2024} allowed as under:^-

¶30

i) The Defendants are^jointly and^severally liable to^pay to the Applicant^Bank a^{sum of} Rs.36,65,188.86ps under Term^{LoanA/c. No.} 162016180000011 with future^interest @10.450lo^{p.a. simple from the date of} application till the date of^realization;

¶31

ii) the OA claim is secured bY^{way of} hypothecation of assets described^{in the} schedule annexed to the OA and^the applicant bank is entitled to^{proceed against} the same to realise^its debt;

¶32

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

¶33

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

¶34

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

¶35

Issue Recovery Certificate accordingly'

¶36

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 22'd Day of^April,2025).

¶37

/flry"** (RA{TrESHWAR KOTHE) PRESIDING OFFICER

Union Bank of India v. M/S Irya Apparels

Case brief

What is this about?

What did the court decide?

Union Bank of India v. M/S Irya Apparels

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

Smt Jhansi Garikipati Rep by her Gpa Holder G Adiseshaiah versus Hdfc Bank

Union Bank of India versus M/S Aqua Steel

Yes Bank Limited versus Bhupathi Chandu

Hdfc Bank Ltd., versus Sanjeev Katiyar

Hdfc Bank Ltd., versus Mrs.P Geethanjali

Hdfc Bank Ltd., versus M/S Lakshmi Kantha Reddy Minerals.