Allowed

Canara Bank v. M/S. Gjs Infratech Pvt. Ltd.

DRT10 Jan 2025OA/969/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by Canara Bank for recovery of dues totaling Rs.127,80,90,502/- from defendants, both jointly and severally, and directed issuance of a recovery certificate.

What did the court decide?

Defendants to pay total sum of Rs.127,80,90,502/- with future interest and costs; Recovery Certificate issued; Applicant entitled to proceed against mortgaged properties.

Canara Bank versus M/S. Gjs Infratech Pvt. Ltd. — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE loth DAY OF JANUARY, 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 : 969 0F 2022

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Canara Bank.,

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Large Corporate Branch, S.P Road, Secu nderabad.

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Rep. by its Chief Manager and GpA Holder.

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.....Applicant.

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Versus

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M/S.GJS Infratech Private Limited., Rep by its Managing Director Plot No.852 and 853, Ayyappa Society, Road No.45, Hitech City, Madhapur, Hyderabad - 500081.

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Shri Jangam Gopi, S/o.Sri^poshanna, Aged Major, Occ: Business, Flat No.51008, Block No.5, Indu Fortune Field, 7th^phase, KPHB Colony, Kukatpally, Hyderabad - 500072.

¶11

Shri Jangam Viswanath, S/o.Sri Kanthaia h, Aged l4ajor, Occ: Business, H.No.2-26, Jankampet, Bc wada, Velpura Mandal, Nizamabad - 504001.

¶12

Sri Kannapu Rajamma Venugopal Rao, S/o.Sri Beesaiah, Aged Major, Occ; Business, H.No.8-2-674/B/2/6/A, Moont Banjara, Banjara Hills, Hyderabad - 500034.

¶13

Shri Abhinav Rao Kuchipudi, S/o.Sri Babu Rao, Aged Major, Occ: Business, Villa No.14, Aparna Country, Mathrusri Nagar, Miyapur, Hyderabad - S0OO50.

oA.NO.969/2022

Smt.^Elizabeth, W/o.Sri^{Vara PrasadRaju} ' Aoed^{Major, Occ:Business'} u'.t'to .c-i^{- t qO- tl, Raghavendra} Nagar^{ColonY,HaYathnagar'} R.R.Dist -^501505'

¶18

Shri^{Kalleda Rajanna,S/o'SriPoshaiah'} Aoed^{Major, Occ: Business'} ullto.o-zz,^{Padgal village,} V"iPri^{rqunOuf, Nizamabad - 504001'}

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Shri^{Bobbili Chinna Gangaram'} q/o.Sri Ravulu, Aged Major' 5ct: Business,^{H No'1- 19/26lc'} Mandar,^{Nizamabad - so4oo1'}

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;;;;;;;;;;

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Shri^{Chukkapalli Ram Mohan Rao'} S/o Sri^{Srinivas Rao,} Aqed^{Major, Occ: Business'} nlr"lo. a-^{j- rs tl se3, PIot No 24lc'} V""gul.uo^{Nagar, Hyderabad - 500038'}

¶22

Shri^{KemsaramSathaiah'} q/^ late Pochaiah, no"J^{rt,luiol., occ: Business'} ulruo.g- r^- r:2,^shaikpet, Colconda,^{HYderabad- 500008 '}

¶23

Smt.^{K. Pranitha,W/o'SriSathaiah'} Aqed Major,^{Occ: Business'} ulno.8-^{r -} t:2,^shaikpet, CotconOa,^{HYderabad- 500008 '}

¶24

Amended^{as Ordersin IA'No'1312/2024DatedO2'O7 '2024}

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Kalleda^{Bhavani,W/o Late Raianna'} Aqed^{Maior, Occ: Business'} H;No.6- 27,^{Padga I village'} veipur t'tanOat,^{Nizamabad - 504001'}

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Kalleda^{Suresh, S/o Late Rajanna'} Aged^{Major, Occ: Business'} H:No.6-27,^{Padgal village,} Veipur^{l4andal, Nizamabad -504001.}

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oA,No,969/2022

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Suddpally Shuramani, D/o. Late Rajanna, Aged Major, Occ: Business. H.No.6-27,^padgal Villaqe. Veipur Mandat, trtizama5aO - 5O4OO1.

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Jenuka. Rajya_Lakshmi, D/o. Late Rajanna, Aged l4ajor, Occ: Business. H.No.6-27,^padgat Vi aqe, Veipur Mandat, Nizama5ad - 504001.

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... Defendants

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Counsel for the Applicant

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Defendants

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M/s. Dish it Bhattacharjee

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Ex - pa rte

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:: oRDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.127,80,90,502/- i.e., a sum of Rs.115,29,93,992l_ under OCC/ODBD Al c.No.24232670051 12 with future interest @17.300/o p.a., a sum of Rs.S,76,44,056/_ under WCTL A/c.No.2423755000011 with future interest @9.40olo p.a. and a sum of Rs.6,74,52,454/- under Bank Guarantee Limit from the defendants joinfly and severally compounded with monthty rests from L6.tL.2022 till the date of realization along with costs and in default for sale of OA schedule properties.

¶38

Summons served on D4, Dg to Dl1, whereas summons served on D5 and 6 through paper publication. They were set ex-parte on 08.04.2024 as called absent and no representation. Summons served on D1 to 3. They were set ex_parte on 78.04.2024 as called absent and no representation. Defendant No.7 died and his Legat Heirs are Defendants tz t ts 7/$.f

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oA.NO.959/2022

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The ;"""n";, Applicant^{as AW-1 and marked Bank examined K'V'Rama 259 documents Krishna' through him Branchas} Ex. A.1^{to Ex' A'259'}

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Ld.CounselfortheApplicantBankreportedordersmaybe passed through^{merits Perused the material placed on record'}

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The^{point that arises for considerationis:-}

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Bank^{is entitled} Whether^{the APP|icant} the^{OA against} for the^claimmadein OA^schedule the Defendanrc^and proPerties?

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As ;; ;;;" stated^{rhe supra, Evidence the Defendants Affidavit coupled 1to 6 and with 8 the to recitals 11 remainedin the} documents^{viz', Exs'A'1 to A'259 markedon behalf of the} Bank^{clinchesthe claim of the ApplicantBank asainst}

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;;;i;"" tf," o"f"nOunt,^{Hence'I hold that the Defendants1 to 6 and I} ao ,, ur"^{jointly and severallyand the defendants 12 to 15 to} estate^{of 7th defendant now lving in their hands;}

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;;";;J" liable to^{pay the OA claim to the Applicant Bank with future} interest^{and costs'}

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Intheresult,thepresentoriginalApplicationNo.969/2022is allowed^{as under: -}

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The Defendants^{1 to 6 and 8 to 11 are jointly}

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i) and severally^{and defendants12 to 15 to the} extent^{of estate of 7th defendant now lying in} their^{hands; are liableto pay to the Applicant} Bank a^{total sum of Rs 127'80'90'502/-ie '} ft(''"

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oA.NO.969/2022

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a sum of^{Rs'115,29,93'9921- under} OCC/ODBD^{Alc'No'2423261005112'a sum of} Rs'5,76,44,056/-^{under WCTL Alc' No'} 2423755OOOOIL^{and asum ofRs'} 6,74,52,4541-^{under BankGuaranteeLimit} with future^{interest @9'40olo 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 applicantbank is} entitled to^{proceedagainstthe same to} realise its^debt;

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iii) the^{applicant bankis atso entitled to proceed} against the^{person and propertiesof} defendants^{1 to 6 and 8 to 11 for realization} of its dues;

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