191090110102018_be1acab00f926e5c68fdeae44eb0fb8c.pdf

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     IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA
                             Appeal No. 232 of 2018
          (Arising out of SA  284 of 2017 in DRT- Visakhapatnam)
THE HON’BLE  MR.  JUSTICE ANIL KUMAR SRIVASTAVA
             CHAIRPERSON
17.01.2023
Smt. Kolla Kasturi, W/o 
Satyanarayna, residing at DNo.5-60- 
1/45, 5th line, Asokh Nagar, Guntur. 
… Appellant
              -Vs-
1. Authorised Officer, The Karur 
Vysya Bank Limited, Jinna Tower 
Centre, Lalapeta, Guntur. 
2. Branch Manager, The Karur Vysya 
Bank Limited, Jinna Tower Centre, 
Lalapeta, Guntur. 
3. Gadde Srinivasa Rao, S/o 
Bhaskarrao, Flat No. 403, PS. 
Paradise Apartment, 1st Lane, Vishnu 
Nagar, Guntur. 
4. Sri Kolla Sudheer, S/o 
Satyanarayana, residing at DNo.5-
60- 1/45, 5th line, Asokh Nagar, 
Guntur. 
5. Sri Kolla Satyanarayana, S/o 
Surayya, residing at DNo.5-60- 
1/45, 5th line, Asokh Nagar, Guntur.  
…  Respondents
Mr. M.N.Simaa Rao, Learned Counsel 
for Appellant 
Ms. 
Sweta 
Gandhi,   
Learned 
Counsel with Mr. A.K.Gandhi, ld.
Counsel for Respondent 
THE APPELLATE TRIBUNAL :
This appeal is arising against the order dated 07.06.2018 
passed by learned DRT Visakhapatnam whereby the appellant 
was directed to deposit entire debt due to the respondent no.1 
bank in respect of Happy Home Loan amount and also directed to 
pay interest at the rate of 07 per cent on the amount deposited 
by the auction purchaser along with SARFAESI expenses within a 
month from the date of the order and the bank was restrained 
from taking any action against the scheduled property at “A” and 

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“B” mentioned in the S.A. till one month from the date of this 
order.  However, scheduled property at “A” and “B” was charged 
with another OCC loan account availed by M/s. Mahita 
Enterprises, represented by respondent no.4 herein, son of the 
appellant, till the loan account of M/s. Mahita Enterprises is 
closed.      
2.
Feeling aggrieved, appellant Smt. Kolla Kasturi preferred 
this appeal.  S.A. applicant no. 2, Sri Kolla Sudheer who is son of 
the present appellant and S.A. Applicant no.3 Sri Kolla 
Satyanarayana is the husband of the appellant both has been 
impleaded as respondent in this appeal. 
3.
Heard the learned counsel for the parties and perused 
records. 
4.
 Dispute in this appeal lies in a narrow compass. It is 
undisputed fact that appellant has availed Happy Home Loan and 
OCC Loan availed by M/s. Mahita Enterprises, represented by her 
son, from the respondent no.1 The Karur Vysya Bank Limited 
wherein the property in dispute was also charged.  It is not in 
dispute that impugned property at Schedule “A” and “B” are 
secured assets of respondent bank and charged both son and 
husband of the appellant. One Gadde Srinivasa Rao who is 
brother-in-law of respondent no.4, Sri Kolla Sudheer is the 
guarantor of the loan.  
5.
Action of the bank initiating SARFAESI proceeding was 
challenged by the appellant alongwith her son and husband, who 

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are respondent no.4 and 5 herein, by filing S.A. No. 284 of 2017 
before the leaned DRT.  
Impugned order dated 07.06.2018 
passed by learned DRT reflects that S.A. applicants wanted to 
settle the loan account of Happy Home Loan by paying entire 
debt due to the respondent bank.  
Objection filed by the 
respondent bank stated that disputed property at Schedule “A” 
and “B” are also charged to the OCC loan availed by M/s Mahita 
Enterprises along with Happy Home Loan.  Separate demand 
notices were also issued for each loan account. Both the loan 
accounts were clubbed together as the same properties were 
charged in both the loan accounts.  Pending aforesaid S.A., I.A. 
No. 1457 of 2017 was filed by the appellant praying for 
redemption of the property by paying sale price along with 
interest to the auction purchaser.  Such interlocutory application 
was allowed by the learned DRT directing the S.A. applicants to 
discharge the property by paying entire debt due in respect of 
Happy Home Loan along with interest a

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