Allowed

State Bank of India v. M/S. Matha Filling Station

DRT20 Nov 2024OA/267/2024

Case brief

AI extract

What is this about?

This order adjudicates on an Original Application filed by the State Bank of India for recovery of an outstanding credit loan, interest, and costs against a firm and its guarantors who defaulted on repayment obligations. The Tribunal reviewed the bank's evidence and decree jurisdiction in favor of the bank.

What did the court decide?

Directing Defendants to pay Rs. 32,82,898/- with interest at 10.45% p.a. from 28.06.2024; allowing bank to proceed against movable and person/properties.

State Bank of India versus M/S. Matha Filling… — Contract and Commercial Disputes | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 2OTH DAY OF NOVEMBER'2024

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PRESENT: SRI GUMMADI GoPICHAND, PRESIDING oFFICER

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OA.No.267 ol 2O24

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Between:

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State Bank of India, SARB-II, Chikkadpally, Opp Sandhya Theatre, RTC"X" roads, Hyderabad, Telangana Represented by its Chief Manager

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Applicant

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VERSUS

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M/s. Matha Filling Station, Represented by Proprietor SmtBadepa llyPush pa latha, Survey No.1947, NH .44, Nandigoam village, Rangareddy District, Telangana - 509 228.

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Mrs. BadepallyPushpalatha, W/o Samba Murthy, aged 69 years, Occ: doctor and proprietor of Matha Filling Station, R/o t2-2-B3L/BO, Flat no.303, SV Residency, Nish colon Mehdipatnam, Hyderabad - 500 04

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SmtChinta N ith isha, w/o Rahul Vinod, D/o Samba M aged 30 years, occ: pvt emplo' R/o 3-1-49, 3'o floor, near Gan Statue, Hyderguda, Attapur, K.V. Rangareddy district, Telangana - 500 048.

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fenda nts

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Counsel for the Pa rties:

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For the Applicant

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For the Defendants

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Sri M. VenkatDivakar Exparte

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(oA. No.267l202a)

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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.32,82,898/- (Rupees Thirty Two Lakhs Eighty Two thousand Eight Hundred and Ninety Eight only) with further interest @ 10.45olo p.a with monthly rests and penal interest @ 10.45olo p.a from 28.06.2024 till the date of realization and in default for sale of hypothecated property as described in the schedule to OA.

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As per the averments in the application, the Applicant Bank states that defendant No.1 availed cash credit of Rs.40.00 lakhs vide letter of arrangement dated 01.11.2023. Defendants 2 & 3 stood as guarantors and executed guarantee agreement dated 28.06.2022 and agreed to repay the loan. Defendants and hypothecated all^the movables as mentioned in the schedule to OA. 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 on 30.01.2024 and issued demand notice dated tO.O4.2024.lnspite of several requests and demands, the defendants did not clear the outstandin

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lOA.No.267 /212al

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Sri l. Rama Rao, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1to A.9.

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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^Defendantsas prayed for?

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Defendants remained 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.Al to A.9. In view of the} above, I hold that the^{Applicant Bankhas established their claim} made in the OA against^{the Defendantsand 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 Defendants are iointly^{and severallyliable to pay to the} Applicant Bank a tot aE -sutrr :df.:-(s..32,82,898/-^{(Rupees Thirty} rwo Lakhs Eie hdaJ rb^grrtHi$ .shhdal f rhBiltHli * eh t^{Hundredand Ninetv} . lt '9 .. Eisht only) with furthel^,Ll1::j. @^l'ltso/o p.a from 28.06'2024 titt the date of realizatio'lnI irCV 2m[ :,]i .tr #,/l

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"";!&i9/

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(oA,No.267 lZ0Z4\

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The Applicant bank is entitled to proceed against the movable

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property as described in schedule to OA towards realization of the

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debt due.

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The Applicant Bank is arso entiued to proceed against the person and properties of defendant No.2& 3 and properties of defendant no.1 firm towards realization of the debt due.

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The Applicant Bank is entitled to the costs of the oA,

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t2' The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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Issue Recovery certificate accordingly.

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L4. 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 20th day of Nov, 2024)

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sd/ - (G. GOPTCHAND) PRESIDING OFFICER

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2 0 f{0l/ 2[2f

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TRUE GOPY
/'U'-'--' ,'-)l ,,lv<br>Asst. Reglsttar 6 , 7, )
DRT.I,'IYDERABAD' , ( - .

State Bank of India v. M/S. Matha Filling Station

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S. Matha Filling Station

Case brief

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