The DRT allowed an original application filed by a bank for recovery of dues against a corporate borrower and its guarantor, who appeared ex parte. The court relied on the bank's affidavit and documentary evidence to grant the relief.
The OA is allowed with costs and interest. The Office is directed to issue a Recovery Certificate as sought.
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, KARNATAKA AT BENGALURU
Dated this the 20th day of November,2023
Present: Sri Imtiaz AIi
Presiding Officer
oA No.37412022
BETWEEN:
State Bank of India SME Centre, Banasawadi No.13, 2A Munireddy Layout Horamavu Main Road Banasawadi Bangalore- 560 113 Represented by it's Chief Manager Sri Avinash Kumar
.. APPLICANT
AND:
Also Residing at: No.198/2, 4th Cross Yellamma Temple Road Tranquil City, Hennagara Gate Bommasandra Bangalore- 560 099
.. DEFENDANTS
t t
OA No.37 4/2022
FINAL ORDER
The present OA has been filed by the Applicant Bank under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993, seeking recovery of money of Rs.49,86,725/ - (Rupees forty-nine lakhs eighty-six thousand seven hundred and twenty-five only) together with costs, interest, etc.
OA No.37 4/2022
of Rs.6,95,000/-. Again the Applicant Bank renewed and enhanced the said Term Loan facility upto the limit of Rs.32,00,000/- and Cash Credit facility of Rs.25,00,000/-.
(b) Again the as per the request of the Defendant No.1 the Applicant Bank renewed the Term Loan facility of Rs.32,00,000/- and Cash Credit facility of Rs.7,2t,OOO/- totally 39,21,000/-. Again the Applicant Bank renewed and enhanced the said Term Loan facility upto the limit of Rs.32,00,000/- and Cash Credit facility of Rs.6,74,000/-.
(c) Again the Defendant No.1 availed the WTCL Loan facility of Rs.3,95,000 /- on t9.Ot.2O2L.
In terms of the loan agreements. In order to secure the loans, the Defendants have executed the various Documents viz., Agreements of Loan-cum-Hypothecation, Guarantee Agreements, Letters of Arrangement, Letters of Revival, Balance Confirmation Letters, Supplemental Agreements of Loan cu m-Hypothecation etc.,
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oANo.374/2022
I
OA No.37 4/2022
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OANo.374l2O22
REASONS
onorn
Present OA stands allowedas prayedfor with interest
and costs.
On failure topay theabove O.A amount,the Applicant Bank is at liberty toproceed against personand properties of the Defendant inaccordancewith law.
[,
OANo.374/2022
Applicant Bank shall file latest Memo of Calculation of OA amount together with interest, costs etc., to be paid by Defendants duly taking into account the amount/s, if any, paid by the Defendants and/or amount realised by sale of assets, etc., during the intervening period after fiting the OA, to enable the office to prepare Recovery certificate for the amount to be paid by the Defendants to the Applicant Bank.
Office is directed to issue Recovery Certificate as sought by the Applicant Bank in the OA and do the needful as required under the law forthwith.
The Office is directed.to issue, as far as possible, free copy of this order to the parties concerned.
(Dictated to the Stenographer, after its transcription and necessary corrections, signed and pronounced by me in the Open Court on this the 20tn day of Novlnber, 2023)
uoh Yoo (Imtiaz Ali) Presiding Officer DRT-f, Bengaluru
oANo.374/2022
ANNEXURES
Witness Examined for the Applicant Bank: AW-1 : Sri Avinash Kumar
The Chief Manager of Applicant Bank
List of Documents Exhibited for lhe Applica.nt Bank: Ex.A-l : Affidavit of AW-1 Ex.A-2 : List of Documents
Ex.A-3 to A-35 : 33 documents
Witness Examined for the Defendants:
List of Documents Exhibited for the Defendants:
\ ..,r9 n Yro (Imtiaz Ali) Presiding Officer DRT-I, Bengaluru
R
2 issues framed by the court
Whether the applicant bank proved its case for recovery of loan dues?
What order should be passed in the original application filed under Section 19 of the RDB Act?
1 provisions across 1 enactments
State Bank of India SME Centre, Banasawadi
Imtiaz Ali
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
