Allowed

Union Bank of India v. P Rameshwar Prasad

DRT22 Jan 2025OA/648/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's original application for recovery. The court held the defendants jointly and severally liable to pay a principal sum with future interest and costs based on ex-parte evidence, secured by a mortgage.

What did the court decide?

Defendants liable to pay Rs. 32,08,034/- with future interest at 10% p.a. with monthly rests; OA claim secured by mortgaged property; entitled to proceed against property and persons for realisation;

Union Bank of India versus P Rameshwar Prasad — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 22ND DAY OF JANUARY, 2025

¶2

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

¶3

ORIGINAL APPLICATION No: 648 OF 2023

¶4

Union Bank of India., somla(rYandat)(vi age), Chittoor District. Rep. by its Manager &^principal Officer.

¶5

.....Appticant.

¶6

Versus

¶7

P.Rameshwar prasad,
S/o. P. Rajendraiah,
Aged 49 Years(Male), Occ: Agriculture,
R/o.Peturu pedda Uppara pa e(V)( post),
Somla [4andal, Chittoor Dist - St72S7.
2. P.Shiva Prasad, S/o.yellappa Shetty,
Aged 50 Years(Male), Occ: Agriculture,
R/o.Peturu pedda Uppara pa e(V)( post),
Somla Mandal, Chittoor Dist - St72S7.

¶8

... Defendants

¶9

Counsel for the Applicant : M/s.p.Balaji
Defendants
: Ex-parte

¶10

:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total
sum of Rs.32,08,034/- from the defendants joinuy and
severally with future interest @1go/o p.a. with monthly rests
from the date of application till the date of realization along
with costs and in default for sale of OA schedule proO",tyr,/y,r,.rl
('/

¶12

oA.NO.648/2023

¶13

¶14

Summons^{served on D1 and 2' They were set ex-pafte on} 24.71.2023^{as called absent and no representation'}

¶15

The Applicant^{Bank examinedK'Jyothi Prakash'Branch} Manager,^{as AW-1 and marked 24 documentsthrough her as} Ex. A.1to^{Ex. A.24.}

¶16

Bank reported^{orders may be}

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1. Ld. Counsel^{for the APPlicant} the material Placed^{on record'}

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passed through^{merits Perused}

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The^{pointthat arises for considerationis:-}

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Bank is entitled Whether^{the APPlicant} for the claim^madein the OA^against OA schedule the Defendants^and propertY?

¶21

As stated^{supra, the Defendants remained ex-parte'The} Evidence^{Affidavitcoupledwith the recitals in the documents} viz., Exs.A.1^{to A.24 marked on behalf of the ApplicantBank} clinches^{the claim of the Appllcant Bank against the Defendants'} Hence, I^{hold that the Defendantsare jointlyand severallyliable} to^pay the^{OA claim to the Applicant Bank with futureinterest} and costs.

¶22

In the result,^{the present Original Application No 648/2023 is} allowed^{as under: -}

¶23

The Defendants^{are jointly} and severallY

¶24

i) Bank a^{sum of}

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liable to^{pay to the Applicant} Rs.32,08,034/-^{with future} interest @^10o/o o.a. simole from^{the daq-ofapplication till} /,/y\$\

¶26

the date^of rcatizationil//Y\P

¶27

oA.NO.548/2023

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ii) the OA claim^{is secured by way of mortgage} of property^{described inthe schedule} annexed to^{the OA and the applicant bankis} entitled to^{proceedagainstthe 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 entitledfor the costs'}

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

¶32

Issue Recovery^{Certificate accordingly'}

¶33

Communicate^{a copy of this order to the parties concerned'} (Dictated to the steno,^{torittttd,signedand pronounced by me in the open court on} this the 22"d^{Day of lanuary,2025).}

¶34

,^{_fil*9-.,,.1tp}

¶35

-i,)-'" (RAMESHWAR^KOTHE) PRESIDING^OFFICER

Union Bank of India v. P Rameshwar Prasad

Case brief

What is this about?

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Union Bank of India v. P Rameshwar Prasad

Case brief

What is this about?

What did the court decide?

What the court decided

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