Allowed

State Bank of India v. Syeda Husana

DRT23 Aug 2023OA/354/2022

Case brief

AI extract

What is this about?

In OA.No.354 of 2022, the Debt Recovery Tribunal allowed the State Bank of India's claim against individuals defaulting on housing and cash loans totaling Rs. 32,43,074/- plus future interest and costs, authorizing recovery proceedings against mortgaged properties. The respondents were set ex parte.

What did the court decide?

The Defendants are jointly and severally liable to pay Rs.32,43,074/- with future interest; bank can proceed against mortgaged property and defendants' properties; recovery certificate issued.

State Bank of India versus Syeda Husana — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE 23RD DAY OF AUGUST'2023

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PRESENT: SRI GUMMADI GoPIcHAND, PRESIDING oFFICER

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OA.No.354 of 2022

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Between :

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State Bank of India, Stressed Assets Recovery Branch, 2nd floor, TS RTC 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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Syeda Husana,

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w/o Syed Mohd yunus Basha, Major, female, R/o H.No.6/554, Ramnagar, Ananthapur, Andhra^pradesh - 515 OO4.

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Also at

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6/ 7/ 783/2, tanmabhumi road, Lakshminagar, Azadnagar, Ananthapur, A.p - 515 004.

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Syed Mohd^yunus Basha, s/o Gouse Mohiddin, major, male, R/o H,No.6/554, Ramnagar, Anantha pu r, Andhra Pradesh - 515 004.

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Also at

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6/ L/ lB3/2, Janmabhumi road, Lakshminagar, Azadnagar, Ananthapur, A.p - 515 OO4.

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r&%
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2 3 AU8 2023
s;x,ti*
Defendants

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(oA.No.3sal2022)

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Counsel for the^pa rties:

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For the Applicantthe Applicant

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For the Applicantthe Applicant Sri P. V. Satya na raya na For the Defendants Exparte

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ORDER

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The Applicant Bank filed the present oA against Defendants for recovery of a total sum of Rs.32,43,O14,/_ (Rupees Thirty Two lakhs Forty three thousand and seventy four only) i.e., a sum of Rs.15,78,512/- with interest @ 12.50o/o p.a with monthly rests for

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housing loan and a sum of Rs.16,64,562l_ with interest @ 11.950/o p,a with monthly rests for SBI home cash loan limit respectively from date of filing of apprication tirr rearization and in defaurt for sare of mortgaged immovable property as described in the schedule to oA.

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As per the averments in the application, the Applicant Bank states that the defendants availed housing loan facility of Rs.25.00 lakhs vide arrangement letter dated 28.06.2012. To secure due repayment of outstanding liability, the defendants executed Memorandum of loan agreement for home loan granted to public dated 28.06, 2Ol2 in favour of Applicant deposited the title deeds relating to OA menti sale deed no.58B2 of 2012 dated 29.06.2 availed SBI

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(OA.No.3s4l2022)

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Home cash loan facility of Rs.24.50 lakhs on 16.07.20L3 and executed necessary loan documents. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank was constrained to classify the account as NPA and issued legal notice dated 17.I0.2022. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this oA.

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Defendants were called absent and set exparte on 28.07.2023.

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Shri P. Sandeep, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A. 14.

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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 for the claim made in the OA against the Defendants as prayed for?

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7' The defendants were cared absent and set exparte. To substantiate the case of the Applicant B.91k,-AW.1 who is the official of the Applicant Bank was u*amiiil unali";litnlpited retevant documents as Ex.A1 to A.14. In view,of the a bov.e, I hold that the Applicant Bank k-^ has estabtished ^^r-r-r, , . their ctdm l -.- nfa0e1lrl1fl0alOe aEjinst ": ::i the Defendants

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.J A;+?,.'rr'";,!t.^:' t,,,rr,t,,"

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(oA.No.3s4l2022)

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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 Rs.32,43,O74/- (Rupees Thirty Two lakhs Forty three thousand and seventy four only) i.e., a sum of Rs.15,78,512l- with interest @ 12.500/o p.a for housing loan and a sum of Rs.16,64,562/- with interest @ 11.95olo p.a for SBI home cash loan limit respectively from date of filing of application till the date of rea lization .

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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 proceed against the person and 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 of receipt of order.

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2 I Arili 208

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(oA.No.3sal2022)

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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 23'd day of Aug, 2023)

sd/-

(G. GOPTCHAND)

PRESIDING OFFICER

tW'

State Bank of India v. Syeda Husana

Case brief

What is this about?

What did the court decide?

State Bank of India v. Syeda Husana

Case brief

What is this about?

What did the court decide?

What the court decided

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