Allowed

State Bank of India v. Smt Saliganju Sushmitha

DRT13 Apr 2023OA/172/2022

Case brief

AI extract

What is this about?

DT admitted an OA for recovery of a loan amount of over 31 Lakhs along with interest and sale of hypothecated movables, dismissing the defendant's absence and granting the bank's claims.

What did the court decide?

Warranted recovery of Rs. 31,31,609/- with future interest and costs. Defendant liable to pay and bank entitled to proceed against hypothecated movables and properties.

State Bank of India versus Smt Saliganju Sushmitha — Banking and Recovery | DRT (2023)

¶1

IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD

¶2

DATED THrS THE l3rHDAy OF ApRrL, 2023

¶3

PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER OA.No.172 ol 2022

¶4

Between:

¶5

State Bank of India, Stressed Assets Recovery Branch-II, 1-8-563/1, RTC Cross roads, OppSandhya theatre, 1't floor, Chikkadpally, Hyderabad - 500 020. Represented by its Chief Manager

¶6

Applicant

¶7

VERSUS

¶8

SmtSaliganjiSushmitha, w/o Sri S. Narasimha, proprietrix of M/s. Adhira Enterprises, Plot no.140, ESSES Engineering, IDA, Mallapur, Medchal- Malkajgiri

¶9

And

¶10

H. No.2-6511, Lakshminarayanapuram X road, Agganoor village, Yalalmandal, Vikarabad district - 501 144.

¶11

Defendant

¶12

Counsel for the Partiesi

For the Applicant

Sri C. Prabhakar

Exparte

13 APRM

(oA.No.172l2022)

ORDER

The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.31,3116O9/- (Rupees Thirty One Lakhs thirty one thousand Six hundred and nine only) i.e., Rs.26,10,608/- under loan account no.38402580743with interest @ 9.65o/op.a and a sum of Rs.5,21,001/- under loan account no.39444406532 with future interest @9.650lo p.a from date of filing of OA till the date of realization and in default for sale of hypothecated movables as described in the schedule to OA.

¶20

As per the averments in the application, the Applicant Bank states that defendant carrying on business of Agro oil production under the name and style of "M/s. Adhira Enterprises" availed a term loan of Rs.20,00 lakhs vide letter of arrangement dated 18.04.2019. To secure due repayment of aforesaid term loan, the defendant executed loan cum hypothecation dated 18.04.2019 and hypothecated all movable property more fully described in the Schedule to OA. After availing the loan facility, the defendant failed to comply the terms of sanction, hence the applicant bank was -)t ''^{: -} cgrlstBf.4ffi'tb ql=aiqslfy the account as NPA and issued legat notice :,i.:,'. ,l 4"""^", dated 21.12.2020. fn"snite^{of several requests and demands, the} lerer1osnffli*"*j outstanding. Hence this OA.

¶21

K*urry

¶22

(OA.No.172l2022)

¶23

Defendant was called absent set exparte on L6.02.2023.

¶24

Sri K. Brahma Naresh, Assistant Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.7.

¶25

Heard the Ld. Counsel for the Applicant Bank.

¶26

The point that arise for consideration is whether the Applicant Bank is entitled for the claim made in the oA against the Defendant as prayed for?

¶27

The defendant was called 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.7. 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 Applicant Bank is entitled to recover the claim made in the OA with

¶28

futu re

¶29

In th6res$!,!r,e'r!"r_.?"r, OA is allowed with costs, as under:

¶30

¶31

The.Delfendant is liabletopay to the Applicant Bank a total sum of Rs.31,31,'6O9/- (,Rdpees Thirty One Lakhs thirty one thousand Six hundred and nine only) i.e., Rs.26,10,608/-

¶32

lOA.No.772lzoz2l

¶33

under loan account no.3B4O25SO743with interest @ 9.65olop.a and a sum of Rs.5,21,001/- under loan account no.39444406532 with future interest @9.65% p.a from date of firing of oA tiil realization.

¶34

i) The Applicant Bank is entifled to proceed against the hypothecated movables as described in the schedule to OA towards realization of the debt due.

¶35

ii) the Applicant Bank is arso entiued to proceed against the person and properties of defendant towards rearization of the debt due.

¶36

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

¶37

iv) The Applicant shall file a cost memo within two weeks from the date of receipt of order.

¶38

Issue Recovery certificate accordingly,

¶39

11. Communicate a copy of the order to the parties concerned.

¶40

(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 13th day of April., 2023)

¶41

sdl -

¶42

(G. GOPTCHAND) PRESIDING OFFICER

¶43

'i 3 APR

¶44

TRUE COPY
n*.ffilflr,
oar-t, u,roeaaeeDl ' '

¶45

State Bank of India v. Smt Saliganju Sushmitha

Case brief

What is this about?

What did the court decide?

State Bank of India v. Smt Saliganju Sushmitha

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

All orders in this case

Similar cases

Manikandan K versus State Bank of India

Ms Nagpur National Bricks and Blocks versus Idbi Bank

Ms Chakrapani Service and Others versus Punjab National Bank

Lal Babu Gupta versus Punjab National Bank

Bank of Baroda versus M/S Officer Bag and Others

Union Bank of India versus Aqua Feena Induatries