Allowed

Bank of Baroda (e-Vijaya Bank) v. M/S Kamala Fashions

DRT28 Feb 2025OA/779/2023

Case brief

AI extract

What is this about?

This order allowed an original application filed by Bank of Baroda for recovery of dues totaling Rs. 25,58,193.63 along with future interest and costs from the defendants as jointly and severally liable, based on uncontradicted evidence.

What did the court decide?

Defendants directed to pay Rs. 25,58,193.63 plus future interest and costs; recovery certificate issued directed to be filed.

Bank of Baroda (e-Vijaya Bank) versus M/S Kamala… — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-]I AT HYDEMBAD

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DATED THIS THE 28TH DAY OF FEBRUARY, 2025

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PRESENT: SH. RAIYESHWAR KOTHE, B,Com., L.LB. (HonS.), IY.A,

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PRESIDING OFFICER

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Original Application No: 779 OF 2023

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Bank of Ba roda, ( Erstwh ile Vijaya Bank), West lvlared pa lly Branch, West Mared pa lly, Secunderabao.. Rep. by its Chief Manager.

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...Applicant

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Versus

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M/s. Kama la Fashions (Sole Proprietary Firm) Rep by its Proprietor

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lvlrs. Prakki Prathyusha Kamal, H.No.1-8-60, North Kamal Naga r Bus Stop, Near Shivalayam Temple, ECIL, Hydera bad - 500062.

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lvlrs. Prakki Prathyusha Kamal, W/o,Not Known to this Applicant Aged Major, Occ: Business, Proprietor lvl/s. Ka mala Fashions, R/o. H. No.30- 1456/7, Lakshminagar, Old Saffilguda, Hyderabad - 500056.

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.,....Defendants

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Counsel for the Applicant : M/s.N.[4anohar Reddy

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Defendants : Ex-pa rte

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:: ORDER ::

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The Applicant Bank Filed the present OA for the recovery of a total sum of Rs.25,58,193.63ps (Term Loan A/c. No.12620600003432 amount due Rs.76 ,47 ,492.80ps with future interest @13.70olo p.a., *<rt"-"'u 1.r'^/r.''

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oA.No.779l2023

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Working Capital Term Loan A/c. No.12620500000073 amount^due Rs.6,22,193.08ps with future interest @13.35olo^{p.a., Working} capital Term Loan - I A/c.No.12620600003398 amount^due Rs.2,06,201.84ps with future interest @10.85o/o^{p.a., Fund Interest} Term Loan A/c. No.12620600003399 amount due Rs.77,152.02ps with future interest @8.85o/o^p.a. and Fund Interest Term Loan - II A/c. No.12620600003686 amount due Rs.5,154.89ps with future interest @ 10.35o/o p.a. from the defendants^jointly and severally from the date of application till the date of realisation along with costs.

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Summons served on D1 and 2 through^{paper publication. They were} set ex-parte on 06.03.2024 as called absent and no representation.

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The Applicant Bank examined Ajay Kumar, Chief Manager as AW-1 and marked 25 documents through him as Ex. A.1 to Ex. A.25.

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Ld. Counsel for the Applicant Bank stated orders may be^passed on merits and^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?

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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.25 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.lrw!\e

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OA.No.779lZOZ3

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In the result, the present Original Application No.779/2023 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.25,58,193.63ps (Term Loan A/c.No.12620600003432 amount due Rs.16,47,492.80ps, Working Capital Term Loan A/c.No. 12620500000073 amount due Rs.6,22,193.08ps, A/c.No.

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Working Capital Term Loan - I 12620600003398 amount due Rs.2,06,201.84ps, Fund Interest Term Loan A/c.No.12620600003399 amount due Rs.77,152.02ps and Fund Interest Term Loan - II A/c.No.12620600003686 amount due Rs.5,154.89ps with future interest @ 8.85o/o p,a. simple, from the date of application till the date of realization;

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ii) the applicant bank is also entitled to proceed against the person and properties of the defendant for realization of its dues;

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iii) the applicant bank is entitled for the costs,

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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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Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno., transcribed by him, corrected, signed and pronounced by me in the open court on this the 28th day of February, 2025).

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SHWAR KOTHE) PRESIDING OFFICER

Bank of Baroda (e-Vijaya Bank) v. M/S Kamala Fashions

Case brief

What is this about?

What did the court decide?

Bank of Baroda (e-Vijaya Bank) v. M/S Kamala Fashions

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

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