Allowed

Idbi Bank v. M S Supriya Medical Hall

DRT25 Apr 2023OA/174/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Origin Application filed by IDBI Bank against three defendants for recovery of a loan and subsequent NPA amount totaling Rs. 36,95,934.78, adjudging them jointly and severally liable with interest.

What did the court decide?

Defendants directed to pay Rs. 36,95,934.78 with future interest at 18% p.a.; joint and several liability enforced; permission granted to proceed against mortgaged and other properties; costs awarded.

Idbi Bank versus M S Supriya Medical Hall — Banking and Recovery | DRT (2023)

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Iru THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THrs THE 25rH DAy oF ApRr L, 2O2g

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PRESENT: SRT GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No. L74 of 2O2Z

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Between:

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M/s. IDgi Bank Limited, H.No.5-2-32 & 33, R.p. Road, Opp MRO office, Nalgonda_ Sbe OOt. Telangana State. Represented by its power of Attorney holder

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Applicant

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VERSUS

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M/s. Supriya Medical Hall, Represented by its proprietor Mr. BathulaLingaiah.

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H.No.6-3-1477 & 1478, Ramagiri, Nalgonda _ 508 001.

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Mr.BathulaLingaiah, s/oBathulaSaidulu, aged major, occ: business, proprietor of M/s. Supriya Medical Hall, H. No. B- 1-338/ A2, road no.2, Rarnagiri, Nalgonda _ 508 001.

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ii' s<br>;11.*P

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Mrs. BathulaKavitha, w/o B. Lingaiah, aged major, occ: housewife, H.No.B-1-338/42, road no.2, Ramagiri, Nalgonda _ 508 001.

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Counsel for the parties:

For the Applicant

For the Defendants

Sri V. Suresh Babu

Exparte

(oA.No.77a/2022)

ORDER

The Appricant Bank fired the present oA against Defendants for recovery of a total sum of Rs.36,95,934.18,ps (Rupees Thirty Six lakhs Ninety five thousand Nine hundred thirty four and paise seventy eight only) ie., a sum of Rs.31,52,512_ under loan account no.1128651100001489 and a sum of Rs.S,43,4L7.7gps under loan account no.1128673200000268 with future interest @ 18o/o p.a *ith^.nonthly rests from date of firing of oA till the date of realization and in default for sale of mortgaged property described in the schedule to OA.

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As per the averments in the apprication, the Applicant Bank states that defendant No.1 represented by defendant no.2 avaired cash credit facility of Rs.20.00 lakhs, Defendants 1 & 2 executed demand promissory note dated 03.02.2016, demand promissory note delivery letter and hypothecation -cum- roan agreement dated 03.02.2016. Defendant no.2 created charge over immovabre property more fuily described in the schedule to oA to secure due repayment of the said cash credit fa"ility and deposited the original title deeds bearing document no.i229/2016 d-ated 01.02.2016. subsequenUy the cash Defendant nq.3 stood as guarantos" executed common guarantee :^25APR70g : deed dred^{::22.09.2017. -'-subs&} ently, the defendants availed -H

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(oA.No.t74/zo2zl

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working capital term loan of Rs.5,90,000/- on 1g.07.2020 and executed necessary documents. After availing the loan facilities, the defendants failed to comply the terms of sanction, hence the applicant bank was constrained to crassify the account as NpA and issued legal notice dated 13.05.2022. Inspite of severar requests and dem-nds, the defendants did not clear the outstanding. Hence this OA.

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Defenda: 's were called absent and set exparte on 03.03.2023.

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Sri P, Hari Krishna, AssistantManager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 lo A.24.

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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 entitled ior the claim made in the OA against the Defendants as prayed fcr?

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The and set exparte. To substantiate the .1, official of the Applicant Bank WAS ant documents as Ex.A1 to 4.24. that l:he Applicant Bank has

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loA.No.L74/20221

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establish:d their claim made in the OA against the Defendants and hence the Applicant Bank is entitled to recover the claim made in the OA with iuture interest and costs.

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

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The D:fendants are joinfly and severally liable to pay to the Applic.nt Bank a total sum of Rs.36,95,934.7gps (Rupees Thirt; six rakhs rjinety five thousanci Nine hundred thifi four .:nd :aisi,- seventy eight only) ie., a sum of Rs.3t^-2,5171- un1-.r loan account no.11296511000014g9 and a sum cf Rs.-,,43,417 .79ps under loan account

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no.11-'5--r1',00011Cc with future interest @ 18o/o p.a with mont' ' re"c fron' ':rte of filing of oAtill realization.

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i) The .^,r-!i-:nt^pank is entiUed to proceed against the rlort-'-an.i^..opertr.r _:s described in the schedule to OA towards real;^, tion of the^,,'bt due.

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ii) the /,:.!;,-.rt Bant< is also entitled to proceed against the person tsod rronn.';es of defendant No.2& 3 and properties of defendant no.1 rm t' I^/ards^{-^rlization} of the debt due.

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iii) The . ^nlir.rt Ba.nkrisrentiU-e4l to the costs of the oA.

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iv) The Apn!iir.nt sharj'riit.Jl'ifile a emo witnin two weeks from the date

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(oA.No.174l2o22l

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Issl^, P..-,.'^{.,.rery,-"-*ificdte} accordingly.

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Conr':-ru'i.rte a ccpy of the order to the parties concerned.

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(DiCtated to t' ;).r1.., ,rnscrii ' , her, corrected, signed and pronounced by me in the open court on this :^. 2(' ,y of A, ,., 2023)

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sdl-

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(c. GoPtcHAND) PRESIDING OFFICER

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; 'W-$-W zsAPn2$8 ;

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TRUE^GOPY Asst. Reglsfiat ^_-.tb-%i^L, SRT.f,^}IYSERABAD.

Idbi Bank v. M S Supriya Medical Hall

Case brief

What is this about?

What did the court decide?

Idbi Bank v. M S Supriya Medical Hall

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

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