Allowed

State Bank of India v. Angel Glass Industries

DRT23 Apr 2024OA/114/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal at Aurangabad decreed the Original Application filed by State Bank of India against defendants for an amount of Rs. 39,02,059/-. The court directed payment with interest and secured the decree via a charge on specific immovable properties, noting partial settlement by defendants.

What did the court decide?

Decree of Rs. 39,02,059/- with 8% p.a. simple interest; charge on Flat no 6 and terrace; recovery certificate issued.

State Bank of India versus Angel Glass Industries — Banking and Recovery | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD) ORDER SHEET

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23.04.2024

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	Sr. No	.42 O.A.NO. 114/2024
Classific ation	No. of Exh.
		ORIGINAL APPLICATION NO. 114/2024 State Bank Of India .. Applicant Versus Angel Glass Industries & others .. Defendants Mr. Agrawal Pawan S - Advocate for the applicant. None for defendants
		1. The Original Application has been filed for a sum of Rs.29,13,709/- & Rs. 9,88,350/- along with future agreed interest. 2. The learned counsel for the applicant has filed a letter dated 13.03.2024 offering the defendants to make the payment of the OTS amount of Rs. 27,50,000/-. The learned counsel for the applicant further submits that affront amount has been received and balance amount to be paid up to 25.06.2024. 3. I have gone through the said letter, Heard the arguments advanced by the applicant. The applicant bank has filed claim affidavit and prove its claim. The claim of the applicant is admitted by the defendant and has made settlement. 4. In view of the above, I pass the following order: ORDER A. Original Application No.114/2024 is decreed with costs B. The defendants are ordered and directed to pay to the applicant either jointly or severally the aggregate sum of sum of Rs. 39,02,059/- along with rate of interest @ 8% p.a. simple from the date of order till actual payment /realisation. C. The aforesaid adjudicated amount is secured by the charge on the immovable properties i.e.

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[APK] (OA No.114/2024) Page 1 of 2

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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD

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(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

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ORDER SHEET

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All that piece & parcel of Flat no 6, admeasuring 19.80 sq mtrs (Super built up area) and terrace 54.43 sq mtrs (Un divided share in property 18.90 sq mtrs) situated at Chetan Plaza, first floor, Plot no 14 and 15, CTS no 16033/34 and 16033/35, Samrat Nagar, Shahnoorwadi, Aurangabad.

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D. If the defendants paid the settlement amount of Rs.27,50,000/- as per the letter of settlement, the decree will be satisfied.

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E. The Recovery Officer to proceed with the personal properties of the defendants by attaching the same.

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F. Any amount recovered during pendency of Original Application shall be reduced and demand notice shall be issued accordingly.

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G. Issue Recovery Certificate accordingly against defendants. H. The Registrar to send the copy of judgment and Recovery Certificate to the applicant and defendants.

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I. Consign the file to the Record Room and orders be uploaded on official web-site.

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(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[APK] (OA No.114/2024) Page 2 of 2

State Bank of India v. Angel Glass Industries

Case brief

What is this about?

What did the court decide?

State Bank of India v. Angel Glass Industries

Case brief

What is this about?

What did the court decide?

What the court decided

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