Allowed

State Bank of India v. Smt. Potta Balamani

DRT21 Jul 2023OA/323/2022

Case brief

AI extract

What is this about?

Single-judge Debts Recovery Tribunal allowed the Original Application filed by State Bank of India against five defendants (legal heirs of a deceased borrower) and issued a recovery certificate for outstanding dues along with interest and costs.

What did the court decide?

Directing Defendants jointly and severally to pay Rs. 22,05,998/- along with interest and costs. Issuing Recovery Certificate.

State Bank of India versus Smt. Potta Balamani — Banking and Recovery | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 21ST DAY OF JULY 2023

¶2

PRESENT: SRI GUMMADI GoPIcHAND, PRESIDING oFFICER OA.No.323 ot 2022

¶3

Between :

¶4

State Bank of India, Stressed Assets Recovery Bra nch_II, 1-8-563/1, RTC cross roads, Opp Sandhya theatre, 1't floor, Chikkadpaily, Hyderabad - 5OO O2O. Represented by its Chief Manager

¶5

Applica nt

¶6

VERSUS

¶7

Smt Potta Balamani, w/o Late^potta Raghupathi, aged 37 years, female, H.No. 3-100, Gudimalkapuram, Post: Kothulapu ram, Gudimalkapuram, Nalgonda - 5OB 253.

¶8

Smt Potta Danamma, w/o Late Potta pullaiah,

¶9

aged 71 years, female, H.No.3-100, gudimalkapuram, Post: kothulapuram, Gudimalkapuram, Nalgonda- 5OB 253.

¶10

Sri Potta Pra n ilu, @ Potta Praneeth Kumar Goud, s/o Late Potta Raghupathi, aged 11 years, male, being minor, represented by his mother and natural guardian, ?1JUt2B

¶11

(OA.No.323 of 2022)

¶12

	SmtPotta Balamani H.No.3-100, gudimalkapuram, PostKothulapuram,Gudimalkapuram, Nalgonda-508253.
4.	Kum. PottaMani Chandana, D/oLatePottaRaghupathi, aged 20years,Female, H.No.3-100, gudimalkapuram, PostKothulapuram,Gudimalkapuram, Nalgonda-508253.
5.	Kum Potta Sharanya, D/oLatePottaRaghupathi, Aged14years, female, Beingminor,represented by her Motherand naturalguardian SmtPotta Balamani, H.No.3-100, gudimalkapuram, PostKothulapuram,Gudimalkapuram, Nalgonda-508253.	Defendants
Cou	nselfortheParties:
For	the Applicant SriC. Prabhakar
For	theDefendants Ex parte

¶13

ORDER

¶14

The Applicant Bank fi OA against Defendants for 998/-

¶15

recovery of a total s'urir qf ni] (Rupees Twenty Two ',..,i.:

¶16

lakhs Five ;tlryrusand Nine hr Ninety Eight only) i.e., a sum or n,.rz):.Sil^Jlll"im unt no.39052228982 with further inte monthly

¶17

Ij.5.'{

¶18

(OA.No.323 of 2022)

¶19

Rs.4,72,697/- under loan account no,39726966978 with further interest @ 9.30o/o p.a with monthly rests from date of application till the date of realization.

¶20

As per the averments in the application, the Applicant Bank states that one Mr. P. Raghupathi (who is husband of D.1, son of D.2 and father of D.3 to 5) availed term loan of Rs.24.90 lakhs for purchase of Ashok Leyland Vehicle through letter of arrangement dated 02.01.2020. To secure due repayment of aforesaid loan, Shri p. Raghupathi executed agreement of loan cum hypothecation dated 02.01.2020 and created primary charge by way of hypothecation of aforesaid vehicle. To secure due repayment of loan, the said Mr. p. Raghupathi executed supplemental agreement of loan cum hypothecation dated 06.10.2020. subsequently Mr. p. Raghupathi died on 16.03.2021. Thereafter the Applicant bank sold the aforesaid hypothecated Ashok Leyland Vehicle to Ramadugu Spandana for Rs.14,05,000/- and executed certificate of sale dated 29,05.2022 in favour of purchaser and credited the sale consideration amount in loan account of borrower. After availing the-i1 ,^{the b8'rrower} died and defendants, who are legal heir: Gv; o comply the terms of .ii il *.'^E. : -' sanction, hence thei,.appli I lapplicant 1.1 rr,,^{bank .r was} 4^^c5nstrained l^{to classifythe} account as NpA ""oii$r"oZrJnltlt^l oatJrr16.O9.2022. Inspite

¶21

(oA.No.323 of 2022)

¶22

of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

¶23

Defendants were called absent and set exparte on 21.O4.2023.

¶24

Sri D. Muralidhar, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.20.

¶25

q Heard the L,d. 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 Defendants as prayed for?

¶27

The defendants were called absent and set exparte. Tossur Dstabsta rntiEr :ra t e the case of the Applicant Bank, AW.1 who is the o ffi cial:ia I 01coftth1e Applicant Bank was examined and he exhibited relevar rt dl o cu :u me )ntsrn 5aAS Ex.Al to A.20. In view of the above, I hold that the Ap) p licaica nt Ba,dnrk has established their claim made in the OA against the) Defen'rdar:n t s and hence the Applicant Bank is entitled to recover thrI c la im mrad e iin the OA with future interest and costs.

¶28

¶29

'':. ';f;'i il,i.'.'..
In the resutt, the presffiA i; dBwefl'4e/S,costs, as under:
:-r i<br>r- ri
2 l lt.t 19 'il
,4:
.\ .,'
..;j^'t. .,r'? t-- '
'"f -J' r< ':-. 1i.'- '.'' .'
..:,ii;,;i.
q.--5-'-

¶30

(oA.No.323 of 2022)

¶31

The Defendants No.1 to 5 are joinUy and severally liable to pay to the Applicant Bank a total sum of Rs.22,O5,99g/_ (Rupees Twenty Two lakhs Five thousand Nine hundred Ninety Eight only) i.e., a sum of Rs.17,33,301/- under loan account no.3905222g982 with further interest @ 12.35% p.a and a sum of Rs.4,72,697/_ under loan account no.39726966878 with further interest @ 9.30o/o p.a from date of application till the date of realization.

¶32

i) The appricant bank is arso entitred to proceed against the person and properties of defendants towards realization of the debt due.

¶33

ii) The Applicant Bank is entiiled to the costs of the OA.

¶34

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

¶35

Issue Recovery certificate accordingly.

¶36

communicate a copy of the order to the parties concerned.

¶37

(Dictated to the p.A., ,ru rr..,O"1.:r.l: L, corrected, signed and pronounced by me in the open
court on this the 2_1st day of July, 2023)
.
. i.\vi: fir.,
'.4.*."-a-. '.e r, r.
"
f- ,s ''h<br>p-S":,ff':lli:J
; ? 1 JUr zrrr ;:l
''2..', osrlr

¶38

sd/-

¶39

p-S":,ff':lli:J
. - :, i-j" j-"€i?.tzAi,

State Bank of India v. Smt. Potta Balamani

Case brief

What is this about?

What did the court decide?

State Bank of India v. Smt. Potta Balamani

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

State Bank of India versus Rama Krishna Industries

K Raghuram Reddy versus Vijaya Bank

Palthya Kalpana versus State Bank of India

Union Bank of India versus M/S. Sri Vigneswara Transport

State Bank of India versus Kondaveeti Seetha

State Bank of India versus Sri. P. Sachin Kumar