Allowed

Uco Bank v. M/S. Prasad Motors

DRT16 Oct 2025OA/554/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application for recovery of dues. Holding the defendants jointly and severally liable, the court awarded repayment of principal, interest, costs, and authorized sale of mortgaged properties or execution against personal assets.

What did the court decide?

Defendants ordered to pay principal, future interest, and costs; bank authorized to enforce mortgage on schedule properties or sue against defendants.

Uco Bank versus M/S. Prasad Motors — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY

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DArED rHrs rHE 16rH #:'rH:::],::::-^'^, PRESENT: SH. RAMESHWAR Ko.

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o^.rror^lr5io.r....?.,^{L. LB.(Hons.} ),^M.A.

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ORIGINAL APPLICATIoN No: 554 oF 2023

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UCO Bank.

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5:i'*Zu,il'ff^{I ;Il? i ?'; f,%li} )^{" .} ,\Lt,. uy r(s Dranch Manager.

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, ....Applica nt.

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Versus

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l,l/s. Prasad lv.lotors.. lup^{Oy itr proprietoiSri Mendu} prasada Rao, plot No.25, Sy.No.91 tetecom Nagar, Gachibowti Hyderabad - 500032.

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Mr. Mendu prasada Rao S/o. lvlr. Venkateshwarlu

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Aged about 52 years, Occ: Business

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Ptot No.122, Flat No.304, Anitha Avenue, Vinayak Nagar, Old Hafeezpet, Near Flyover, Hyderabad-500049.

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Mrs. Gollavi i Sritatha

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Wo. Mr. G. Mahesh

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Aged about 36 years, Occ: House Wife

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MIG - 158, Nirmata Nilayam

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KPHB Colony, Hyderabad _ 5OOO72.

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Counsel for the Applicant

Defendants

...Defendants

Ms. P. S. Sujatha

Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum oF Rs.1,42,63,274.49ps

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' "'' "'UW#'6e'823'31Ps

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oA.NO.554/2023

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towards^{Loan A/c No 19060510000281with future interest} @9.80o/o^{p.a', a sum of Rs'20'70'259 93ps towardsLoan} A/c.No.19060610036853^{with future interest@9 25olo p a ' a} towards^Loan of Rs lo'82'373^07ps ,r. A/c.No.19060610045091^{withfuture interest@9'25oloP a' and} Rs'57'40'818'^18pstowards Loan a sum^of -. A/c.No.19060610046081^{with future interest @10 10% p'a'} fromthedefendantsjointlyandSeverallyfromthedateof application^{till the date of realization along with costs and in} default^{for sale of OA scheduleproperties'}

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Summons^{served on D1 and 2' whereas summonssent to D3} returned^{with endorsementrefused hence' deemed to be} served.^{They were set ex-parteon 20 '10 '2023 as called absent} and no^{representation'}

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Bank examined^{Anubuti Bhan, Senior Manager'}

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The ApPlicant as AW-1^and marked 51^{documents through him as Ex A l to} Ex. A.51.

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Heard the Ld.^{Counsel for} the Applicant^{Bank. Perused the} material Placed^{on record.}

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

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whether the^{AppticantBank is entitled} for the claim^{madein the OA against} the Defendants^{and OA schedule} properties?

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As stated supra,^{the Defendants remained ex-parte'The} Evidence AfRdavit^{coupledwith the recitalsin the documents} viz., Exs.A.1 to A.51^{marked on behalf ofie ApplicantBank} 44'

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oA.NO.5s4l2023

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clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinuy 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 Application No.554/2023 ls allowed as under: -

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i) The Defendants are joinfly and severally liable to pay to the Applicant Bank a total sum of Rs.1,42,63,274.49ps i.e., a sum of Rs.53,69,823.31ps towards Loan A/c. No. 19060510000281, a sum of Rs.20,70,259.93ps towards Loan A/c. No. 19060610036853, a sum of Rs.10,82,373.07ps towards Loan A/c. No. 19060610045091 and a sum of Rs.57,40,818.18ps towards Loan A/c. No. 19060610046081; with future interest @9.80o/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 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 debu

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iii) the applicant bank is also entitled to proceed against the person and properties of defendants for reatization of its dueowi.g

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oA.NO.554/2023

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

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B. The Applicant Bank is directed^{to file Cost Memo within2 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 courton} this the 16th Day of october,^2025).

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(offiYJ,*,, PRESIDING OFFICER

Uco Bank v. M/S. Prasad Motors

Case brief

What is this about?

What did the court decide?

Uco Bank v. M/S. Prasad Motors

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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