Allowed

State Bank of India v. Anjaiah

DRT9 Jan 2023OA/170/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the arrears of payment appeal filed by State Bank of India against Sri Balagourinanjaniar for recovery of a term loan amounting to Rs.30,53,789 along with interest and costs, as the debt was substantiated.

What did the court decide?

The defendant is directed to pay Rs.30,53,789 with interest at 9.65% p.a. until realization and the applicant bank is entitled to costs.

State Bank of India versus Anjaiah — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THrS THE 9rH DAy oF JANUARr,2023

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PRESENT: sRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.t7O OF ZO22

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Between :

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State Bank of India, Stressed Assets Recovery branch_II, 1-8-563/1, Opp: Sandhya Theatre, RTC cross roads, Chikkadpally, Hyderabad-20. Represented by its chief Manager

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Applicant

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VERSUS

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Sri BalgooriAnjaiah, s/o Parsuramulu, proprietor gf^lVlr, Anjaniputra Centring Suppty & works, H.No.1-23, Main road,' Kodangal, Tandur, Vikarabad.

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And

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H,.no.8-28, Eduluru, Kattangoor Mandal, Nalgonda district- 5Og 205.

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Defendant

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Counsel for the parties:

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For the Applicant Sri C. Prabhakar For the o-ef6i-arint , /.7,N:!:^.i+ Exparte i;f E$^*q * ORDER 09 Jril²⁰⁸ 1. the present OA against Defendant for of Rs.3O,53,7a9/(Rupees Thirty lakhs

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(oA.No.170/2022)

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Fifty three thousand Seven hundred and eighty nine only) with further interest @ 9.65% p.a with monthly rests from date of application tiil the date of rearization and in defaurt for sare of hypothecated movables as described in the schedule to OA.

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2' As per the averments in the apprication, the Appricant Bank states that the defendant was carrying on business of Centringmaterial under the name and style of ..M/s. Anjaniputracentringsupply & works" availed term loan of Rs.24.00 lakhs on 37.07.2019. To secure due repayment of aforesaid roan, the defendant executed agreement of roan cum hypothecation dated 3L.07.201g. The defendant hypothecated a, its movabre property more fury described in the schedule to OA. After availing the loan facility, the defendant faired to compry the terms of sanction, hence the appricant bank was constrained to crassify the account as NpA and issued regar notice on 27'12'2020' Inspite of severar requests and demands, the defendant did not clear the outstanding. Hence this OA.

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) Defendant was called absent set exparte on 25.10.2022.

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Shri D. Bank examined himself |Yl{rrt^yanaser as AW. drlo exnidid retev which are marked as }t4 Ex.A.1 J.4.^{0 g JAil} 'm :*i ..t 5

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(oA.No.170/2022)

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arise for consideration is whether the Applicant Bank is

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entitled for the claim made in the OA against the Defendant as

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prayed for?

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7' The defendant was calred absent and set exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited relevant documents as Ex.A1 to A.4. In view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendant and hence the Appricant Bank is enti,ed to recover the craim made in the oA with future interest and costs.

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B. In the result, the present OA is allowed with costs, as under:

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9' The Defendant is liable to pay to the Appricant Bank a totar sum of Rs.3o,53,7g9l- (Rupees Thirty rakhs Fifty three thousand seven hundred and eighty nine onry) with further interest @

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9.650/o 'p1rr.off$t9 of qn_lti.qatio n ti I I rea I iza rion. '+;ttt

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,P ::i

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i) The - -r-^!. 'Filh^{f,,.gntiil3, to proceedagainst} hypothecated ':.

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described in the',6ineaule to oA towards realization

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(OA.No.17o/2o22)

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ii) the Applicant Bank is also entiUed to proceed against the person

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and properties of defendant towards realization of the debt due.

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iii) The Applicant Bank is entitled to the costs of the OA.

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iv) The Appricant sha[ fire a cost memo within two weeks from the date of receipt of order.

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Issue Recovery certificate accordingly.

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Communicate a copy of the order to the parties concerned.

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(Dictated to the p'A., transcribed by_her, corrected, signed and pronounced by me in the open court on this the 9th day of )an.,2023)

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sdl(G. GOPTCHAND) PRESIDING OFFICER

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State Bank of India v. Anjaiah

Case brief

What is this about?

What did the court decide?

State Bank of India v. Anjaiah

Case brief

What is this about?

What did the court decide?

What the court decided

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