The Debts Recovery Tribunal allowed the Origin Application filed by State Bank of India for recovery of dues of Rs. 59,54,047 along with interest and permission to realize dues from hypothecated assets.
Directing respondents to pay Rs. 59,54,047 with interest; allowing recovery from hypothecated assets and properties of respondents; costs of the OA.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL.I AT HYDERABAD
DATED THIS THE 17TH DAY OF JULY 2023
PRESENT: SRI GUMMADI GOPICHAND, PRESIDING oFFICER
OA.No.256 OF 2022
Between :
State Bank of India, Stressed Assets Recovery Branch, 2nd floor, APSRTC, CAC, Koti, Hyderabad, Represented by its Chief Manager Applicant
VERSUS
- M/s. Ka rigar Fu rn itu res, H.no. 12-1-490/40/4, HUDA colony, Asif nagar, Hyderabad - 500 O2B. Represented by its Proprietor Rubeena Imroz.
Counsel for the Pa rties:
For the Applicant
For the Defendants
/di
t("h,,"rqf$it)g
W6-r'
(oA.No.2s612022)
ORDER
2' As per the averments in the apprication, the Appricant Bank states that the defendant No.1 is a proprietary concern and defendant is its sore proprietor avaired cash credit facirity of Rs.55.00 rakhs vide arrangement letter dated L7.tl.2OL7. To secure due repayment of loan facirities, the defendant no.2 on beharf of defendant no.1 executed agreement of loan cum hypothecation on 17.lL.2Ol7. The defendant no'2 arso avaired GECL facirity of Rs.11.00 rakhs vide retter of arrangement dat3ed t7.Og.2O2O. The total facility of Rs.66.11 la khs was secu red of entire stocks and receivables as described in er availing the loan facilities, the defendants fa iled to com ply the of sanction, hence the appricant bank fras l"lr,l!L#," .4, the account as NpA and \
(oA. No.2s612022)
issued legal notice dated 16.07.2022. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.
entitled for the claim made in the OA against the Defendants as prayed for?
1l luTm i
(oA. No.2s612022)
(OA.No.zS6/z12zl
(Dictated to the p.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 17th day of )uly, 2023)
sd/-
(G. GOPTCHAND) PRESIDING OFFICER
t*-&%b
17 lt)Lryn
TRUE COPY
,""r.ffiS,
DRf tr. HYP;:ri:1?4D'
1 issue framed by the court
Whether the applicant bank is entitled to the claim made in the OA against the defendants?
State Bank of India
M/s. Kartigar Furnitures
Smt Rubeena Imroz
Sri Gummadi Gopichand
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
