Allowed

Bank of Maharashtra v. M/S. Shree Viraj Enterprises

DRT16 Jul 2025OA/478/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Bank of Maharashtra against Shree Viraj Enterprises and two individuals for recovery of a principal sum, future interest, and costs, finding the defendants jointly and severally liable.

What did the court decide?

Awarded total sum of Rs.87,19,372/- with future interest @12.30 p.a. and costs; recovery certificate issued.

Bank of Maharashtra versus M/S. Shree Viraj Enterprises — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE 16TH DAY OF JULY, 2025

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

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 478 OF 2024

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Bank of Maharashtra., Kukatpally Branch, Hydera bad, TS. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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lvl/s. Shree Viraj Enterprises., Rep by its Partners No. t9-7-A74lI/3/4A, Flat No.301 RK Towers, Ba hadurpura Hydera bad - 5 0 0 064, Telanga na State.

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Mrs. Ellora Deepali, W/o.E.Vijender Kumar Female, Aged about 32 Years Occ: Partner, Flat No.301, RK Towers Bahadurpura, Hyderabad-500064 Telangana State.

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Mr. Ellora Rahul Kumar S/o. E. Shlva Kumar, Male, Aged about 33 Years, Occ: Partner, Flat No.301 RK Towers, Bahad u rpu ra Hyderabad- 500064, Telangana State.

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...Defendants

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Counsel for the Applicant : lvl/s.Momin lvlohammed Rafiq

Defendants

: Ex-parte

:: ORDER ::

The Appllcant Bank flled the^present OA for the recovery a total sum of Rs.81,19,372/- i.e., a sum of Rs.8,52,685/- and a sum of Rs.72,66,687/- from the defendants jointly and severally 'l,n., -' .'

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oA.N0.478l2O24

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with future interest @12.30o/o^p.a. with monthly rests along with penal interest 2o/o^p.a. from the date of application til! the date of realization along with costs and in default for sale of hypothecated assets.

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Summons served on D1 to 3. They were set ex-parte on 28.02.2025 as called absent and no representation.

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The Applicant Bank examined Manish Kumar Madhukar Bansod, Assistant General Manager, as AW-1 and marked 08 documents through him as Ex. A.1 to Ex. A.08.

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Ld. Counsel for the Applicant Bank reported orders may^be passed through merits. Perused the 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 hypothecated assefsT

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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.08 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 severally^liable to pay the OA claim to the Applicant Bank with future^interest and costs.

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In the result, the^present Original^{Apglication No.47Bl2O24 is} allowed as under: - /m$f

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oA.NO.478/2024

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i) The Defendants are^{jointly and severally} llable to^pay to the^{Applicant Bank a total} sum of Rs.87,f9372/- i'e', a^sumof Rs.8,52,685/- and a sum^{of Rs.72,66,6871-} with future interest @12.300/o^{p.a. simple} from the date of application till^{the date of} realization;

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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;

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

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iv) the applicant bank is entitled 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 15th Day of luly, 2025).

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ESHWAR KOTHE) PRESIDING OFFICER

Bank of Maharashtra v. M/S. Shree Viraj Enterprises

Case brief

What is this about?

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Bank of Maharashtra v. M/S. Shree Viraj Enterprises

Case brief

What is this about?

What did the court decide?

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