Allowed

State Bank of India v. Syed Sadiq Hussian

DRT22 Aug 2023OA/353/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal adjudicated an Original Application filed by State Bank of India for recovery of dues arising from housing loans, SBI Suraksha, and home top-up loans. The bank established its claim via witness examination. The Tribunal held the bank entitled to recover the claim and ordered the declaration of joint and several liability of the defendants.

What did the court decide?

The respondents are jointly and severally liable to pay Rs. 37,05,960/- along with future interest and costs. The bank can proceed against the mortgaged property and the persons/properties of the resp

State Bank of India versus Syed Sadiq Hussian — Contract and Commercial Disputes | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 22ND DAY OF AUGUST'2023

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER OA.No.353 of 2()22

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Between:

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State Bank of India, Stressed Assets Recovery Branch, 2nd floor, TSRTC Bus Terminal Complex (Commuter Amenity Centre), Koti, Hyderabad, Represented by its Chief Manager

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Applicant

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VERSUS

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Syed Sadiq Hussain, S/o Sri S. Munawar Hussain, major, Male, R/o H.No. 1-6-1 13/1/A, Adarshnagar, Zaheerabad^-502 220.

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Sri Syed Hafeej Hussain, S/o S.M. Hussain, male, major, R/o H.No.1-6'Lt3/L/A, Adarshnagar, Zaheerabad - 502^220.

¶9

Smt Syeda Meharunnisa Begum, W/o Avdul Majid, major, female, R/o H. No. 1-6 -tl3l l/ A, Adarshnagar, Zaheerabad - 502 220. Defenda nts

¶10

--i:
Counsel for the v!'. ii
For the Applicant sri--d atyanarayana
For the Defendants Z Z AUg lffi$xparte

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(oA. N o.3s3/2022 )

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ORDER

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The Applicant Bank filed the^{present OA againstDefendants for} recovery of a total sum of^{Rs.37,O5,96O/-(Rupees Thirty Seven} Lakhs Five thousand^{Nine hundredand sixty only) i.e', a sum} of Rs.29,76,973/-^{for housing loan limit and a sum of Rs.1,00,831/-} for SBI Suraksha with^interest @^{11.75olo p.a with monthlyrests and} a sum of Rs.6,28,156/-^{towards SBI hometop up loan with interest} @^{10o/o p.a with monthly rests from date of filing of application till} realization and^{in default for sale of mortgagedimmovableproperty} as described in^{the scheduleto OA.}

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ASpertheavermentsintheapplication,theApplicantBankstatesthat thedefendantsavailedhousingloanfacilityofRs.24.50lakhs,SBl Suraksha loan of^{Rs.93,000/- and SBI Hometop up loan of Rs'6'50} lakhson30'11.2015and15'09.2017respectively'Thedefendantsl & 2 executed^{necessarysecurity loan documents in favour of Applicant} Bank for securing^{the repayment of outstandingliability' To secure} repayment of^{outstanding liability thedefendantsexecuted} memorandum^{of loan agreementfor home loan, guarantee agreement} .^. " . .. ..1,: g.^.r. dated 30.¹ 1.2015. -' -'The defendants,'$-dbpositea^{the title deeds relating} an intention to^create to OA schedulci 'irientioned^property ii.l;^{zz rtltpis}

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(OA.No.3s3/2022)

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equitable mortgage^{by depositof title deeds. After availing the loan} facility, the defendants^{failed to complythe terms of sanction,hence} the applicant bank^{was constrainedto classify the accountas NPA on} t6.O5.2022andissueddemandnoticedated16'06'2022'Inspiteof severalrequestsanddemands,thedefendantsdidnotclearthe outstanding. Hence^{this OA.}

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Defendants were^{calledabsent and set exparte on 2B'O7 '2023'}

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Shri P. Sandeep,^{Manager of the ApplicantBank examined himselfas} AW.1 and exhibited^{relevant documents, whichare marked as Ex'A'1} to A.15.

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Heard the Ld.^{Counsel for the ApplicantBank'}

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is whether the^{APPlicantBank is} 6. The^point that^{arise for consideration} entitled for the^{claimmade in the} OA against the^Defendantsas prayed for?

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The defendants^{were called absent and set expafte. To substantiate} thecaseoftheApplicantBank,AW.lwhoistheofficialofthe ApplicantBankwasexaminedandheexhibitedrelevantdocumentsas-1" -t ' Ex.A1 to A.Ls. )F{l.".$dJ^the ?P.cY:,^{I hold that the Applicant Bank} ,';' .d\ r, ,' . ";^. has establishgfiziFii.^{clai'r+,maderl$'} $e^{OA againstthe Defendants} i. " :j. 2 7 Aljti 2ia .r-',.-rr'r ll ' 3 - :, tr' .) f:-. ll . ,a, . ,,.! :-ci.,-^':,,: t' -*:j. "-,^{. 1.,-;;:.:,.,'}

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(OA.No.3s3/2022)

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and hence the Applicant Bank is entitled to recover the claim made in the OA with future interest and costs.

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

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The Defendants are^jointly and severally liable to^pay to the Applicant Bank a total sum of Rs.37,O5,96O/- (Rupees Thirty Seven Lakhs Five thousand Nine hundred and sixty only) i.e., a sum of Rs.29,76,973l- for housing loan limit and a sum of Rs.1,00,831/- for SBI Suraksha with interest @ tL.75o/o^p.a and a sum of Rs.6,28,156/- towards SBI home top up loan with interest @ 10%^p.a from date of filing of application till the date of realization.

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i) The Applicant bank is entitled to^proceed against the^mortgaged property as described in the schedule to OA towards realization of its dues.

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ii) the Applicant Bank is also entitled to^{proceedagainst the personand} properties of defendants towards realization of the debt due.

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

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iv) The Applicant shall file a cost memo within two^{weeks from the date} ,.:, :.: r"i 1 r '

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(oA. No.3s3/2022)

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Issue Recovery certificate accordingly.

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Communicate a copy of the order to the parties concerned.

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(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 22nd day of Aug, 2023)

sd/_

(G. GOPTCHAND)

PRESIDING OFFICER

:*,M.,

State Bank of India v. Syed Sadiq Hussian

Case brief

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State Bank of India v. Syed Sadiq Hussian

Case brief

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