Debts Recovery Tribunal affirmed the Applicant Bank's claim to recover a bonded debt of approximately Rs. 87.72 lakhs from two defendants via an originating application.
The Defendants are directed to pay the total sum of Rs. 87,72,940/- along with future interest at the rate of 12.50%, 9.25%, 7.40% and the Right of Roadway Service Utility charges along with interest
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 15TH DAY OF MARCH, 2023
PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER
OA.No.346 ot 2022
Between:
State Bank of India, Stressed Assets Recovery Branch-II, 1-8-563/1, RTC cross Roads, Opp Sandhya Theatre, 1st floor, Chikkadpally, Hyderabad - 500 020. Represented by its Chief Manager
Applicant
VERSUS
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Defendants
Counsel for the Parties:
For the Applicant
For the Defendants
Sri C. Prabhakar
Exparte
ORDER
(oA.No.346/2022)
lakhs Seventy two thousand Nine hundred and forty only) ie.,
a) a sum of Rs.53,21,220l- under loan account no.62398515302 with interest @ L2.20o/o p.a with monthly rests;
b) a sum of Rs.7,O4,678l- under loan account no.39419838031with interest @ 9.25olo p.a with monthly rests;
c) a sum of Rs.25,86,006/- under loan account no.62404425152 with interest @ 7.40o/o p.a with monthly rests;
d) a sum of Rs.1,61,036/- under loan account no.62404426359 with interest @ 7.40o/o p.a with monthly rests;
from date of filing of OA till the date of realization and in default for sale of mortgaged properties as described in the schedule..I & II,, to OA.
averments in the applicatlon, the Applicant Bank states o.1 availed OD Mortgage loan of Rs.9.50 lakhs ngement dated 23.01.2015. To secure due .t&iltfit.nffi id OD Mortgage loan, defendant no.1 executed ,ss.eement o8i'si m hypothecation dated 27.0L.2075. To secure Pp6rr"errsiltl) lrePFy defendant no.l created equitable mortgage on 23.01.2015 by way of deposit of sale deed no.334B/20L4 dated 28.10.20t4 in respect of OA schedule property-I. Defendants 1 & 2 availed housing loan of Rs.30,63,025/- through arrangement letter dated 30.01.2015 and executed memorandum of loan agreement for housing loan. Defendant no.2 created equitable mortgage on
(oA.No.3a612022)
12.02.20L5 by way of deposit of sale deed no.637/ZOLO and sate deed no.2027/2014 dated 25.06.20L4 in respect of OA schedule property-Il. Subsequently the on request of defendant no.1 the applicant bank renewedOD mortgage loan of Rs.9.50 lakhs, Defendants 1 & 2 availed cash credit loan of Rs.49.50 lakhs and defendant no.1 executed supplemental agreement of loan cum tion dated 20.12.20t8. After availing the loan facilities, ffiXBN faited to compty the terms of sanction, hence the 'F applican_& n t -'.' ba n$nt\vas constrained to classify the account as NpA and r% 1 s,r!8EJWe., iI* dated 08.10.2022. rnspite or severar requests ; o"runaunts did not crear the outstandins. Hence %q fu."}pi^tr,q$i;{n" qsE-o+.? 3. Defendants were called absent set exparte on 22.02.2023.
loA.No.3a6/2022)
B. In the result, the present OA is allowed with costs, as under:
under loan account no.62398515302with * interest @ 12.?php.a; 1 b) a 5 ilrR sum 7rn of Rspfi04,678/--,ll under loan account no.39419838031with . ,"'.::// .\nteresE@i9.2#/o p.a; sum of Rs.25,86,006/- underloan account no.62404425152with interest @ 7.40o/o P.ai
d) a sum of Rs.1,61,036/- underloan account no.62404426359 with interest @ 7.40o/op.a from dateof application till realization.
4
(oA.No.3a5l2022)
(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 15rH day of March., 2023)
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(G. GOPTCHAND)
PRESIDING OFFTCER
15mRm
TRUE COPV
r ffi.i,y
ffiH, HYDERAE.AI.
2 issues framed by the court
Whether the Applicant Bank is entitled to recover the claim made in the OA against the Defendants?
Whether the Defendants are jointly and severally liable to pay the outstanding loan amount?
State Bank of India, Stressed Assets Recovery Branch-II
Sri Kalasamudram Narayana Swamy
Smt K. Anuradha
Gummati Gopichand
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
