Allowed

Union Bank of India (e-Andhra Bank) v. M/S Gssmr Energy Private Limited

DRT2 Apr 2025OA/517/2022

Case brief

AI extract

What is this about?

In an original application filed by Union Bank of India for recovery of dues, the Debts Recovery Tribunal-II allowed the application against multiple ex-parte respondents, holding them jointly and severally liable to pay principal, interest, and costs, and directed issuance of a recovery certificate.

What did the court decide?

Defendants held jointly and severally liable to pay Rs. 6,90,81,541.72 plus future simple interest at 10.50% p.a. until realization. Recovery certificate to be issued.

Union Bank of India (e-Andhra Bank) versus M/S Gssmr Energy… — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE O2NO DAY OF APRIL, 2025

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

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ORIGINAL APPLICATION No: 517 oF 2022

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Union Bank of India., (Erstwhile Andhra Bank) Sanath Nagar Branch, D.No.7-2-1735, cround Ftoor, Block B, Flat Endecos Alladin County, Main Road, Sanath Nagar, Hyderabad. Rep. by its Authorized Officer.

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.....Applicant.

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Versus

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M/S.GSSMR Energy^private Limited., Represented by its Managing Director Mr. K.Sankara Reddy, Registered Office No.3155, 1st Floor, HAL 2no Stage, Indira Nagar, Bangalore, Karnataka - 5600038.

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Also at:-

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Flat No.104, Challa Pride, H. No.7-2- 1735 &7-2-Lgt3lslA, Czech Colony, Sanath Nagar, Main Road, Hyderabad - 500018.

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And also at:Unit at D-6 Branch of SBC, Near Devargonal Village, Yadagir District, Karnataka.

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Sri. C. N. Mallikarjuna Reddy, S/o. Late C.N.Bheema Reddy, Aged about 55 Years, Occ: Business, R/o.Site No.59, Old No.5411, S.No.30 & 41, 3'o Cross,515 Colony,60ft Road, Defency Road, Indira Nagar, Banglore - 560075.

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ff.*

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oA.NO.517l2022

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Smt.Kattameedi Brundha Sankar,

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S/o.K.Sankara Reddy, Aged about 66 Years, Occ: Business, R/o. Flat No.104, Challa Pride, Beside Electric Sub Station, Main Road, Sanath Nagar, Hyderabad-500018.

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4, Smt.Vempalli Rajamma, Wo.Late^{v.subba Reddy,} Aged about 72 Yearc, Occ: Business, R/o. Flat No.104, Challa Pride, Beside Electric Sub Station, l4ain Road, Sanath Nagar, Hyderabad-500018.

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Sri. K.Sankara Reddy,

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S/o. K. Narayan Reddy, Aged about 71 Years, Occ: Business, R/o. Flat No.104, Challa Pride, Czech Colony, Main Road, Sanath Nagar, Hyderabad, T.S.

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Sri. K.Santosh Reddy, S/o. K.Shankar Reddy, Aged about 37 Years, Occ: Business, R/o. Flat No.104, Challa Pride, Czech Colony, Main Road, Sanath Nagar, Hyderabad, T.S.

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Smt.Kethi Reddy Mounika,

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W/o.C.N.Deepak,

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Aged about 37 Years, Occ: Business, R/o.Villa No. 14, Suncity, Attapur, ... Defendants Hyderabad. : M/s.V.Sethu Madhava Rao Counsel for the Applicant Defenda nts :Ex-parte

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:: qLLEL ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.6,90,81,541.72ps i.e., a sum of Rs.4,92,67,198.33ps fr*e

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oA,NO.s17 /2022

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under Term Loan A/c.No.052630100036729 with subsequent interest @12.40olo p.a., a sum of Rs.1,07,11,763.67ps under UGECL A/c. No.052630100071528 with subsequent interest @7.50o/o p.a. and a sum of Rs.91,02,579.72ps under Bank Guarantee A/c.No.052617040000001 with subsequent interest @7.2o/o^p.a. from the defendants jointly and severally from the date of application till the date of realization along with costs and in default for sale of OA schedule properties.

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Summons served on D1 and 6 and was set ex-parte on 05.09.2023 as called absent and no representation. Summon served on D2 and was set ex-parte oa 2O.t2.2023 as called absent and no representation. Summons served on D3 to 5 and 7 through paper publication and were set ex-parte on 70.12.2024 as called absent and no representation.

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The Applicant Bank examined Rajini, Sr Branch Manager, as AW-1 and marked 41 documents through her as Ex. A.1 to Ex. 4.41,.

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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 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.41 marked on behalf of the Applicant Bank /M/.c

(J/'{y-'

oA.NO.517/2022

clinches the claim of the^{Applicant Bank against the Defendants'} Hence, I hold that the Defendants^{are jointlyand severally liable} to^pay the OA claim to the^{Applicant Bank with futureinterest} and costs.

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In the result, the^present Orlginal^{Application No.51712022 is} allowed as under:^-

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i) The Defendants are^jointly and^severally liable to pay to the Applicant^Bank a^{sum of} Rs.6,90,81,541.72ps i.e., a sum^of Rs.4,92,67,198.33ps under Term^Loan A/c. No.0526301000367 29, a sum of Rs. 1,07,11,763.67ps u nder UGECL A/c. No.052630100071528 and^a sum of Rs.97,02,579.72ps under Bank Guarantee A/c. No.052617040000001; with^future interest @10.50% 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^mortgage of properties described in the^schedule annexed to the OA and the applicant^bankis 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^{properties of} defendants for realization of its dues;

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iv) the applicant bank is entitled for the costs. Dy'**

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oA.NO.517l2022

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B, The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

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q Issue Recovery CertiFicate according ly.

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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 02"d Day of April, 2025).

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-.. (RAMESHWAR KOTHE) PRESIDING OFFICER

Union Bank of India (e-Andhra Bank) v. M/S Gssmr Energy Private Limited

Case brief

What is this about?

What did the court decide?

Union Bank of India (e-Andhra Bank) v. M/S Gssmr Energy Private Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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