Allowed

State Bank of India v. Padmavati Traders

DRT23 Apr 2024OA/27/2024

Case brief

AI extract

What is this about?

The Tribunal decreed the applicant's original application for recovery. As defendants failed to file a written statement, their liability was found uncontroverted, resulting in a decree for the principal amount plus interest and a direction to issue a recovery certificate.

What did the court decide?

The application was decreed; defendants directed to pay Rs. 23,94,567.69/- plus 8% p.a. interest; Recovery Officer to proceed with attachment; Recovery Certificate to be issued.

State Bank of India versus Padmavati Traders — Banking and Recovery | DRT (2024)

¶1

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

¶2

2 S	3.04.2 r. No.	024 38 O.A.NO. 27/2024
Classific ation	No. of Exh.
		ORIGINAL APPLICATION NO. 27/2024 State Bank Of India .. Applicant Versus Padmavati Traders & others .. Defendants Mr. Rakh Arun- Advocate for the applicant. None for defendants 1. In this matter defendants are served on 07.03.2024 through court commissioner. On 12.03.2024 both defendants appeared in person but have not filed their written statement till date. 2. Despite giving sufficient opportunities defendants have not filed their written statement. In these circumstances, it appears that the defendants have nothing to show cause and as such the right of defendants to file the written statement stands closed. 3. This is Original Application filed for recovery of Rs.59,23,753/- due as on 21.03.2023. 4. The learned counsel for the applicant submits that defendant admitted their liability vide letter dated 12.07.2022 and they approached the bank for settlement. The learned counsel for the applicant further submits that when the borrower approaches the bank and submits OTS proposal, it shows that they admitted the entire liability of the bank and asking for the concession from the bank. 5. I have gone through the said letter, the party has refused to accept the settlement offered by the bank. 6. The learned counsel for the applicant relying on revival letter. The learned counsel for the applicant submits that though the signatures on page no. 136 the signatures of the borrower are not available exactly on the place where it should have been. However, in the margin of the letter and below the letter the

¶3

[APK] (OA No.27/2024) Page 1 of 2

¶4

IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD

¶5

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

¶6

ORDER SHEET

¶7

signatures are appearing. According to him the contents are admitted by the borrower.

¶8

1. The account of the borrow became NPA 26.02.2018 when the amount of Rs. 23,94 567.69/- was due and payable. The Tribunal finds that this amount of Rs. 23,94 567.69/- is due and payable by defendants.

¶9

1. Heard the arguments advanced by the applicant. The applicant bank has filed claim affidavit and prove its claim. The claim of the applicant goes uncontroverted and un-rebutted. In view of the above, I pass the following order : ORDER

¶10

A. Original Application No.27/2024 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. 23,94 567.69/- along with rate of interest @ 8% p.a. simple from the date of filing of the original application till actual payment /realisation.

¶11

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

¶12

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

¶13

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

¶14

G. Consign the file to the Record Room and orders be uploaded on official web-site. (Vimal Gupta)

¶15

Presiding Officer

¶16

Debts Recovery Tribunal, Aurangabad

¶17

[APK] (OA No.27/2024) Page 2 of 2

State Bank of India v. Padmavati Traders

Case brief

What is this about?

What did the court decide?

State Bank of India v. Padmavati Traders

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

State Bank of India versus Sultan

State Bank of India versus Manal

Shri Sarjerao Rambhau Thorat versus State Bank of India

State Bank of India versus M/s Gajanan Agrotech and Company

State Bank of India versus Gangadhar S/o Laxman Kadam

State Bank of India versus Angel Glass Industries