Allowed

State Bank of India v. Mrs. Shyma Khan

DRT10 May 2024OA/68/2024

Case brief

AI extract

What is this about?

The tribunal considered an originating application filed by a bank to recover dues from a housing loan borrower. Finding the bank established its claim and the defendant absent, the tribunal allowed the application, awarding the principal sum, interest, and costs, while authorizing recovery proceedings.

What did the court decide?

Defendant to pay Rs.36,80,340/- with interest; bank entitled to proceed against mortgaged property and other assets; recovery certificate issued.

State Bank of India versus Mrs. Shyma Khan — Contract and Commercial Disputes | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 1OTHDAY OF MAY'2024

¶2

PRESENT: SRI GUMMADI GoPIcHAND, PRESIDING oFFICER

¶3

OA.No.68 ot ZO24

¶4

Between:

¶5

State Bank of India, Stressed Assets Recovery Branch, znd floor, TSRTC Commuter Amenity Centre, Bus Terminal complex, Koti, Hyderabad. Represented by its Chief Manager

¶6

Applicant

¶7

VERSUS

¶8

Mrs. Shayma Khan, w/o Mr. Mir Nomanali, aged 30 years, female, H. No. 1-5-3l1 2/ 6, Krishna Colony, Musheerabad, Hyderabad - 500 O2O.

¶9

Also at

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SmtShayama Khan, M/s. Mak Power Solutions, Plot no.92, Balajinagar, Mansoorabad, Near Big baza r, Hyderabad - S0O 074.

¶11

Defendant

¶12

Counsel for the parties:

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For the Applicant

¶14

For the Defendant

¶15

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¶16

(oA.No.68/2024)

¶17

ORDER

¶18

1' The Applicant Bank filed the present oA against Defendant for recovery of a total sum of Rs.36,gO,34Ol_ (Rupees Thirty Six Lakhs Eighty Thousand Three hundred and Forty only) i,e.,a sum Rs.35,81,061/- under loan account No.40540241294 with further interest @ 9.650/o p.awith monthly rests and a sum of Rs.99,279/- under loan account No.4035711g340 with further interest @ g'55% p.a with monthry rests from date of firing of oA ti, the date of rearization and in defaurt for sare of mortgaged property as described in the schedule to OA.

¶19

2' As per the averments in the apprication, the Appricant Bank states that defendant availed Housing loan of Rs.5g,72,000/_ and funding of home loan insurance of Rs.1,03,000/_ totaling a sum of Rs.59,75,000/- for purchase of schedule mentioned property vide arrangement retter dated 03.08.2021. The defendant executed memorandum of loan agreement for housing loan granted to public on 04.08.2021. The defendant deposited the original Regd Sale Deed bearing document no.7742/2021 dated 06.11.2021 and created mortgage over the application schedule property. After availing the loan facilities, the defend f-q-BNthe terms or sanction, hence the applicant as coq$rained,$\assify the account as NPA and issued Inspite of several

¶20

(oA.No.68/2024)

¶21

requests and demands, the defendant did not clear the outstanding. Hence this OA.

¶22

Defendant calledabsent and set exparte on 22.04.2024.

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Shri Govind Raju,Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.11.

¶24

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.11. 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

¶27

Applicant Bank is entitled t I im made in the OA with
-s iV{T
future interes t anO costs/!! *
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-, 1n
:

¶28

(oA.No.68/2024)

¶29

B. 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.36,80,340/- (Rupees Thirty Six Lakhs Eighty Thousand Three hundred and Forty only) i.e., a sum Rs.35,81,061/- under loan account No.40540241294 with further interest @ 9.650lo p.a and a sum of Rs.99,279l- under loan account No.40357118340 with further interest @ 9.55o/o p.a from date of filing of OA till the date of realization.

¶31

The Applicant bank is entitled to proceed against the mortgaged property as described in schedule to OA towards realization of the debt due.

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the Appllcant Bank is also entifled to proceed against the person and properties of defendant towards realization of the debt due.

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The Applicant Bank is entiiled 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.

¶36

(OA.No.58/2024)

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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 lOthday of May'2024)

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sdl_ (G. GOPTCHAND)

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PRESIDING OFFICER

¶41

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State Bank of India v. Mrs. Shyma Khan

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mrs. Shyma Khan

Case brief

What is this about?

What did the court decide?

What the court decided

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