Allowed

State Bank of India v. Sri Makkena John Jabraj

DRT19 Aug 2024OA/204/2024

Case brief

AI extract

What is this about?

Debt Recovery Tribunal allowed an original application filed by State Bank of India against a defendant for recovery of a loan defaulting as NPA, directing payment of principal, interest, and authorization of sale of mortgaged property.

What did the court decide?

Defendant liable to pay Rs. 27,55,494 with interest; Applicant Bank allowed to recover debt from mortgaged property and defendant's assets; Recovery certificate issued.

State Bank of India versus Sri Makkena John Jabraj — Cheque Dishonour | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 19IHDAY OF AUGUST' 2c.24

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.2O4 ot 2O24

¶4

Between:

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State Bank of India, Stressed Assets Recovery branch_II, 1-B-563/1, RTC Cross roads, Opp Sandhya theatre, 1st floor, Chikkadpally, Hyderabad - 20. Rep by its Chief Manager

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Applicant

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VERSUS

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Sri Makkena John Jabraj, S/o Sri Makkena Manohar rao, Aged about 30 years, Occ: private employee, Quality executive in Hatsun Agro Products Limited. Sy.No..l 19/AA1 &2, 1iB/AA1, Govrndapur, Zaheerabad _ 502 220

¶9

¶10

H.no. 1-24-330, Laxminagar 9o.l9lY,^{near Laxmi Kala theatre,} Lothkunta, Secunderabad _ 5OO^'015.

¶11

¶12

Flat no.411, 4th floor, block no.2, PanJatha pride, Shamirpet village lnd^{grgTpanchayat, Shamirpei} Mandal, Medchal-Malkajgiri dist.

¶13

'f--E
19 tlj0 mr
Defendant

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Counsel for the parties:

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For the Applicant

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For the Defendant

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Sri G. PrabhakarSarma Exparte

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(oA.No.2O4/20241

¶19

ORDER

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The Applicant Bank filed the present oA against Defendant for recovery of a total sum of Rs.2l,SS,4g4l_ (Rupees Twenty Seven Lakhs Fifty Five thousand Four hundred and Ninety Four only ) with interest @ 9.SO% p.a with monthly rests from date of apprication tiI the date of rearization and in defaurt for sare of mortgaged property as described in the schedule ,.A & 8,, to OA.

¶21

2' As per the averments in the apprication, the Appricant Bank states that defendant avaired housing roan of Rs.28,00 rakhs for purchase of schedule mentioned property vide letter of arrangement dated 09.08.2021. The defendant created equitable mortgage by deposit of original Regd sale deed no.4865/202L dated 2t.Og.2O2L over the schedule mentioned property. After availing the loan facility, the defendant failed to comply the terms of sanction, hence the applicant bank was constrained to crassify the account as NpA and issued legal notice dated 26.03.2024. Inspite of several requests and demands, the defendant did not clear the outstanding. Hence this OA.

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ag%\

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1. Defendant caled absent and set.6*";U0?-'r?A :,ri .; 1s AUo tuzt :

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(oA.No.2oal202a)

¶25

Shri M. Ravinder, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.10.

¶26

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 Defendant as prayed for?

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Defendant called absent and set exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited relevant documents as Ex.A1 to A.10. In view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendant and hence the Applicant Bank is entitled to recover the claim made in the OA with future interest and costs.

¶29

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

¶30

The Defendant is liable to pay to the Applicant Bank a total sum of
Rs.27,55,4941- (Rupees Twenty Seven Lakhs Fifty Five
thousand Four hundred and Ninety Four only ) with interest @
9.50% p.a from date of of realization;
d<br>k B

!rt0 It. l
_ 19
:,\ ;i. lr
At r .,i
'.^ '. -r di -F-S'/rA -+i:,'
Qr;rff"

¶31

(OA. No.20al202a)

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The Applicant bank is entiUed to proceed against the mortgaged property as described in schedure "A & B" to oA towards rearization of the debt due.

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The Applicant Bank is also entiiled to proceed against the person

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and properties of defendant towards realization of the debt due.

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t2, The Applicant Bank is entifled to the costs of the OA.

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The Appricant shaI fire a cost memo within two weeks from the date of receipt of order.

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Issue Recovery ceftificate 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 bytrer, corrected, signed and pronounced by me in the open court on this the 19th day of Aug,2024)

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sd/(c. GoPtcHAND) PRESIDING OFFICER

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JRUF^cw (),.:.ryffi.*

¶42

,;?:i';fi9,iffi"

¶43

State Bank of India v. Sri Makkena John Jabraj

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sri Makkena John Jabraj

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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