Allowed

State Bank of India v. Mr. Md. Mohammad

DRT2 Dec 2024OA/209/2024

Case brief

AI extract

What is this about?

In this Debt Recovery Tribunal order, the applicant bank successfully filed an Origin Application for recovery of a personal loan with interest. The tribunal held that the bank established its claim through an examined witness and documents, despite the defendant's failure to file a written statement. The OA was allowed with costs.

What did the court decide?

The OA was allowed with costs. The defendant is liable to pay the total sum of Rs. 24,13,950 with interest at 14.10% p.a. from 11.05.2024 till realization. A recovery certificate was issued to the app

State Bank of India versus Mr. Md. Mohammad — Contract and Commercial Disputes | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE 2ND DAY OF DECEMBER' 20.24

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING oFFICER

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OA.No.2O9 ot 2024

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Between:

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State Bank of India, Stressed Assets Recovery Branch-II, 1-8-563/1, 1't floor, Opp Sandhya Theatre, RTC Cross Roads, Chikkadpally, Hyderabad, Telangana State. Represented by its Chief Manager

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Applica nt

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VERSUS

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Mr. Md. Mohammad, S/o Mr. Md Hussain, Aged 43 years, occ: Govt employee, R/o G.No.119/2, Railway quarters, Adilabad - 504 251.

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And also at:

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R/o Q.No.119/2, Railway quarters,
Secunderabad - 500 005. Defe nda nt
Counsel for the Parties
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For the Applicant k $ s,."Psl ma na Ku ma ri
For the Defendant o ? itEt; rfiib,i a:i n ivas
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The Applicant Bank filed the present OA against Defendant for
recovery of a total sum of Rs.24,L3,9SO/- (Rupees Twenty Four

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|OA.2O9^{of 2o2al}

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Lakhs Thirteen Thousand Nine Hundred and Fifty only) i.e., (Rs'11,11,073 + Rs.13,02,877/-) with current and future interest @ 14.10% p.a with monthry rests from rr.os.2o24 tiil the date of realization.

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As per the averments in the apprication, the Appricant Bank states that defendant availed personal loan of Rs.12,76,000/_ and executed Arrangement letter dated 30.09.2023, and agreed accepted the terms and conditions of the sanction. After avairing the roan facirity, the defendant faired to compry the terms of sanction, hence the applicant bank was constrained to classify the account as NpA and issued legar notice dated L2.o4.2024.rnspite of severar requests and demands, the defendant did not crear the outstanding. Hence this oA.

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Ld counsel Sri B. Srinivas filed vakalath for defendant but failed to

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file Written statement.

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Sri Jeeban Mishra, Chief Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.12.

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Heard the Ld. Counsel

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lOA.209^{of 20241}

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6, The point that arise for consideration is whether the Appricant Bank is entitled for the claim made in the oA against the Defendant as prayed for?

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Even though Defendant appeared through his counsel faired to fire written statement. To substantiate the case of the Applicant Bank, AW.1, official of the Appricant Bank was examined and he exhibited relevant documents as Ex.A1 to A.12. In view of the above, I hord that the Applicant Bank has estabrished their craim 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.

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B. In the result, the present OA is allowed with costs, as under: The Defendant is liabre to pay to the Appricant Bank a total sum of Rs.24,13,95O/- (Rupees Twenty Four Lakhs Thirteen Thousand Nine Hundred and Fifty only) i.e., (Rs.11,LL,OZ3 + Rs.13,02,877/-) with current and future interest @ 14.10% p.a from 11.05.2024 till the date of realization.

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The Applicant Bank is also entifled to proceed against the person

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and properties of defendant towards realization of the debt due.

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The Applicant Bank il e OA. 11. The Applicant shall fil weeks from the date of receipt of order. 0 2 ilt[^2[2r

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(oA.2o9 of 202a)

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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 2"d day of Dec,2024)

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sd/(G. GOPTCHAND)

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PRESIDING OFFICER

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State Bank of India v. Mr. Md. Mohammad

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mr. Md. Mohammad

Case brief

What is this about?

What did the court decide?

What the court decided

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