Debts Recovery Tribunals and Appellate Tribunals
M/S ASSET RECONSTRUCTION COMPANY (India) LTD, vs M/s U & I Systems Design Ltd Rep by its Managing Director on 19 January 2021
**IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA AT
BENGALURU**
Dated this 19<sup>th</sup> Day of January, 2021
**Present: SMT. S.V. GOWRAMMA**
**Hon `ble Presiding Officer**
I.A. No. 1993/2020
In
T.A.No.109/2017
(O.A. No.242/2006)
**Between**
Bank of India,
No.675, 2<sup>nd</sup> Block,
Rajajinagar (Near Navrang Theatre)
Bangalore-560010.
** ...APPLICANT**
**And**
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1. 1. M/s. U & I System Design Ltd. No.75/11, 2<sup>nd</sup> Main, Vyalikaval, Bangalore-56003.
2. 2. Mr. G. R. Itigi. 5<sup>th</sup> Main, West of chord Road, Bangalore-560086.
3. 3. Smt. Shubhapradha Itigi. No.774, 10<sup>th</sup> "D" cross, 5<sup>th</sup> Main, West of chord Road, Bangalore-560086.
4. 4. Smt. Shobha. R. Itigi. No.774, 10<sup>th</sup> "D" cross, 5<sup>th</sup> Main, West of chord Road, Bangalore-560086.
5. 5. Sri. Abhayakumar Deshmukh. F-3, No.60, Meera Mansion, 17<sup>th</sup> cross, Malleshwaram, Bangalore-56003.
T.A No.109/2017
1. 6. Sm. Saritha Deshmukh. F-3, No.60, Meera Mansion, 17<sup>th</sup> cross, Malleshwaram, Bangalore-560003.
2. 7. Sri. D. S. R. Murthy. A-202, Sangeetha Apartments 5<sup>th</sup> cross, Malleshwaram, Bangalore-560003.
3. 8. Sri. S.Ramaswamy. No.358, HIG, 13<sup>th</sup> cross, 5<sup>th</sup> main, RMV 2<sup>nd</sup> stage, Dollars Colony, Bangalore-560094.
4. 9. Smt. Usha Ramaswamy. No.358, HIG, 13<sup>th</sup> cross, 5<sup>th</sup> main, RMV 2<sup>nd</sup> stage, Dollars Colony, Bangalore-560094.
5. 10. M/s. R. K. Associates. No.358, HIG, 13<sup>th</sup> cross, 5<sup>th</sup> main, RMV 2<sup>nd</sup> stage, Dollars Colony, Bangalore-560094. Represented by its Partners Mr. S. V. Ramaswamy and Mrs. Usha Ramaswamy.
6. 11. Smt. P. Dakshayini Devi. W/o. Sri. G. Parusharama Reddy. No.2787, 14<sup>th</sup> main road, Attiguppe, RPC Layout Vijayanagar II stage, Bangalore-560040.
7. 12. Sri. Venkatesh. S/o. Late Chowdaiah, Shyanumangala Village, Bididi Hobli, Ramanagara Taluk, Bangalore District.
**...DEFENDANTS**
T.A No.109/2017**AND:**
The Asset Reconstruction Company (India) Limited (ARCIL) Shreepati Arcade, A. K. Marg, Nana Chowk, Mumbai-400036.
**...PROPOSED APPLICANT/ SUBSTITUTION ASSIGNEE**
**ORDERS ON IA NO.1993/2020**
The Applicant Bank has filed I.A. No.1993/2020 seeking for an order for return of Original Title Deeds of the property as stated in Schedule "A and B" in the OA.
2. The Chief Manager of the Applicant Bank in the affidavit submits that the O.A. was filed for recovery of total debts due from the defendants and the same was allowed on 31.07.2003, and the Recovery Certificate under DCP No.2829 is issued by the Hon'ble Tribunal.
3. The Applicant Bank submits that they sold the schedule property for recovery of dues under the SARFAESI Act, 2002 and issued the sale certificate in respect "schedule-B in favor successful Auction purchaser on 17.08.2020 and the auction purchaser insisting for original title deeds in respect of schedule property. The schedule property sold for recovery of the dues of the Applicant Bank for an Rs.34.99 Crores. Hence, this application for withdrawal of Original Title deeds in respect of the Schedule Property.
4. In view of the fact that the claim amount of the applicant
T.A No.109/2017
is recovered, hence the prayer for return of original documents is allowed. The Registry is directed to return the Original documents/records which are marked as Exhibits A-3 to A-44, to the Applicant as prayed in the IA to the Applicant Bank on due acknowledgment as prescribed under the law after ensuring necessary procedures. Accordingly, I.A. No.1993/2020 stands allowed.
*[Dictated to the steno (TS), transcribed by her, corrected by me and then pronounced in the open court on this the 19<sup>th</sup> day of January, 2021]*
**Sd/-** **Presiding Officer** DRT-II, Bengaluru
T.A No.109/2017**SCHEDULE-A**
All that piece and parcel of house property together with vide site on which it is built bearing No "358" 13<sup>th</sup> Cross 5<sup>th</sup> main RMV II Stage, HIG Houses, Dollars Colony Bangalore-560096 with the site measuring East to West 16.80 meters and North to South 18'60 meters and in all 312'48 square meters and bounded on:
East by: Site No'359; West by: Site No'357; North by: Site No'361 and South by: 13th Cross road'
**SCHEDULE-B**
Sites No.78/78, 79/79, 80/80 bearing Survey Nos.12,3,4,5 and 81/81 formed in lands and 53/5 of Bhimanahalli, Behind IOC Petrol Bunk Shyanamangala Road' Bidadi Hobli' Ramanagararn Taluk Bangalore District belonging to the 8<sup>th</sup> Defendant. Site Nos. 85/85' 93/93' 109/109' 110/1 10' 1 11/1 11, 1121/12' 113/113 and 114/114 formed in lands bearing Survey Nos' 1,2,3,4,5 and 53/5 of Bhimnahalli' Behind IOC Petrol Bunk, Shyanamangala Road' Bidadi Hobli' Ramanagararn Taluk Bangalore District belonging to the 9<sup>th</sup> Defendant. All sites mentioned at serial Nos' I & II above together measure 2,83,000 square feet (app) and bounded by:
East by: 40 Road West by: Property of IOC North by: Remaining portion of the owners Property And South by: 100 feet Shyanamangala Road.
**Sd/-** **Presiding Officer** DRT-II, Bengaluru