Allowed

State Bank of India v. Mrs. Sangam Srilaxmi

DRT20 Dec 2024OA/354/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's original application filed by State Bank of India against personal loan accounts of the deceased borrower's legal heirs for recovery of a defaulted sum of Rs.23.61 Lakh with future interest and costs.

What did the court decide?

Defendants 1 and 2 jointly and severally liable to pay Rs.23,61,098/- with 13% p.a. interest; Recovery Certificate issued; Costs awarded.

State Bank of India versus Mrs. Sangam Srilaxmi — Banking and Recovery | DRT (2024)

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

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PRESENT: SRI GUMMADI GoPIcHAND, PRESIDING oFFIcER

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OA.No.354 ot 2024

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Between:

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State Bank of India, Stressed Assets Recovery Branch, 2nd floor, TSRTC bus terminal Complex (Commuter Amenity Centre) Koti, Hyderabad, Represented by its Chief Manager

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Applicant

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VERSUS

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Mrs. Sangam Sri Laxmi W/o Late Ravindersangam, Aged major,

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2, Mr. Sangam Vinay Kumar, s/o Late RavinderSangam, aged major,

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defendants t and 2 are legal heirs of lateRavinderSangam are resident of

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H. No. 1B-3-407 / C, Bharji Nagar, Kandikal gate- 500 053.

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The Superintendent, (profo Osmania General Hospital, Salary/wages/Admin Dept, Afzalgunj, Hyderabad - 500 012.

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oEC 202{
nda nts
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Counsel for the^parties:

For the Applicant

For the Defendants

Mr. C. Sreedhar

Expa rte

(oA.No.354 12024)

ORDER

The Applicant Bank filed the present OA against Defendants for

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recovery of a total sum of Rs.23,61 $98/- (Rupees Twenty Three Lakhs Sixty One thousand Eight hundred and Ninety Eight onty) with further interest @ !3o/o p.a with monthly rests from date of filing of OA till the date of realization.

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As per the averments in the apprication, the Appricant Bank states that Sri RavinderSangam avaired personar roan of Rs.21,50,000/_ on 15.03.2023 and executed necessary security roan documents. subsequently RavinderSangam expired on 29.oB. 2023. Defendants 1 and 2 are the regar heirs of deceased borrower RavinderSangam and defendant no.3 was impleaded as a party to the oA. After avairing the roan facirity, the defendants faired to compry the terms of sanction, hence the appricant bank was constrained to crassify the account as NpA on t4.72.2023 and issued demand notice dated 05'09' 2024' Inspite of several requests and demands, the defendants did not crear the oirtstanding. Hence this oA. ,',:'"jS^{-" " tjrff -'t} ffi; 3. Def"endants {$tteO a and set exparte on 08. 11.2024. 1^zooEczmt ;i : -s,sl^:i rli&#

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(oA. No.3sal202a)

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

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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

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entitled for the claim made in the OA against the Defendants as

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prayed for?

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7' Defendants l and 2 remained exparte. To substantiate the case oF the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited rerevant documents as Ex.Al to A.10. In view of the above, I hord that the Appricant Bank has estabrished their craim made in the oA against the Defendants and hence the Applicant Bank is entiued to recover the craim 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 No.1 and 2 are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.23,6l,g9g/- (Rupees Twenty Three Lakhs Sixty One thousand Eight hundred anct

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gnly) with further interest @ 13olo p.a from date of

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'4iri ng A tit ate of rea lization. ? 0 oEC zfizt

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(OA. No.3s4l2024)

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9' The Appricant Bank is entired to proceed against the person and properties of defendants No.1 and 2 towards rearization of the debt due. However the applicant bank is entiUed to proceed only to the extent of estate devorved upon the regar heirs from the deceased borrower late RavinderSangam.

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10' The Applicant bank sha, approach Recovery officer for the rerief sought against defendant no.3.

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

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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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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 thrs the 20th day of Dec,2024)

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sd/(G. GOPTCHAND) PRESIDlNG OFFICER

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State Bank of India v. Mrs. Sangam Srilaxmi

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mrs. Sangam Srilaxmi

Case brief

What is this about?

What did the court decide?

What the court decided

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