Allowed

Canara Bank v. Uppari Narsing Rao

DRT17 Feb 2025OA/820/2023

Case brief

AI extract

What is this about?

The Tribunal allowed the Bank's Original Application for recovery of Rs. 29,19,489.51 with future interest. Holding Defendants jointly and severally liable based on examiner evidence, the Bank was directed to file a cost memo and issue a Recovery Certificate.

What did the court decide?

Defendants ordered to pay Rs. 29,19,489.51 with future interest; mortgage property and other assets of defendants to be proceeded against; recovery certificate issued.

Canara Bank versus Uppari Narsing Rao — Banking and Recovery | DRT (2025)

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IN THE DEBTS^{RECOVERYTRIBUNAL-II AT HYDERABAD} DATED THIS^{THE17th DAYOF FEBRUARY, 2025}

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PRESENT: SH.^{RAMESHWAR KOTHE,B.Com , L LB' (Hons )' lvl A'} PRESID]NG OFFICER

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ORIGINAL APPLICATION^{No: 820 OF 2023}

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Canara Bank, Borabanda^Branch, Plot No.1, O.No.8/31167 /K/7' Viswa Heights,^KalyanNagar, venture 3, Hyderabad,^{Tela nga na- 500018} ' Rep. by its Senior^Manager.

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.....Applicant.

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Versus

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Mr. Uppari Narsing^Rao, S/o. Late Uppari^Pentaiah, Age 49 Years, Occ:^Business, Male, R/o.H.No.^{13-98, Indra} Gandhi Nagar,^{OPPIDPLColonY,} Balanagar TownshiP,^HYderabad, Telangana - 500037.

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Mr. Kathi Kailash^Babji, S/o. Mr. Kathi^Fredrick, Age 68 Years, Occ:^{EmPloyee, Male,} H. No.1-53,^{Nagaram, Keesaralvlandal,} Ranga Reddy District,^{Telangana-501301.}

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...Defendants

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Counsel for the^APPIicant : lY/s. K. Bhaskar^Reddy

Defendants

: Ex-parte

:: q-B-Lq& ::

The Appllcant Bank^{filed the present OA for the recoverya total} sum of Rs.29,19,489.51Ps under Loan A,/c.No.30447220000940N,*

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oa.No.820/2023

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from the defendants jointly and severally with future interest @11.70% p.a. with monthly rests from the date of application till the date of realizauon along with costs and in defautt for sale of OA schedule property.

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Summons sent to D1 returned with endorsement refused hence, deemed to be served and was set ex_parte on 27.06.2024 as called absent and no representation. Summons served on D2 thrOUgh paper publication and was set ex-parte on 09.09.2024 as called absent and no representation.

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The Applicant Bank examjned Gautam Kumar Nayak, Manager, as AW-1 and marked 23 documents through him as Ex. A.1 to Ex. A.23.

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Ld. Counsel for the Applicant Bank reported orders may be

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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 enti ed for the claim made in the OA against the Defendants and OA schedule propefty?

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6, As stated supra, the Defendants remained ex_parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.23 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 a nd costs. $--o

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oA.NO.820/2023

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In the result, the present Original Application No.820/2023 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.29,19,489.51ps under Loan A/c. No. 30447220000940 with future interest @11.70olo^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 property 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 properties of defendants for realization of its dues;

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iv) 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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9, 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 17th Day of February, 2025).

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PRESIDING OFFICER

Canara Bank v. Uppari Narsing Rao

Case brief

What is this about?

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Canara Bank v. Uppari Narsing Rao

Case brief

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