Allowed

State Bank of India v. Manal

DRT22 Apr 2024OA/73/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Aurangabad, in a case concerning an original application by State Bank of India for recovery of a term loan. The defendant did not appear. The Tribunal decreed the application as prayed, allowing interest at 6% p.a. and directing the issuance of a Recovery Certificate against the defendant with an amount of Rs.33,11,959/-.

What did the court decide?

Decree of the Original Application with costs, directed the defendant to pay Rs.33,11,959/ with 6% p.a. interest, and issued a Recovery Certificate.

State Bank of India versus Manal — Contract and Commercial Disputes | DRT (2024)

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

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22.04.2024 Sr. No.05 OA No. 73/2022 ORIGINAL APPLICATION NO. 73/2022

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State Bank of India ..Applicant Versus Manal Siltan Nahadi ..Defendant

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Mr. R.C. Patil- Advocate for the applicant. The matter is taken through Hybrid. 1. The Original Application is filed for a sum of Rs.33,11,959/(Rupees Thirty-Three Lacs Eleven Thousand Nine Hundred Fifty-Nine only) in term loan facility account from 07-08-2021 onwards till realisatioin of entire amount alongwith interest @8% p.a. with monthly rests compoundable from 07-08-2021 onwards, beside of 2% penal interest till realisation of entire amount + expenses and costs incurred or may be incurred by the applicant bank from the date of filing this OA and claim from the person and properties of the defendant.

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1. In this matter the defendants has been served but not appeared and as such he has proceeded exparte on 02^nd March, 2024. No written statement has been filed. It shows that the defendant has nothing to say. He has no defence to be put forward which means that he has admitted the liability charged find accordingly that the loan taken by him also stands admitted.

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1. The claim of the bank is based on the revival letters filed alongwith the Interlocutory Application.

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1. The Tribunal has satisfied with the execution of the revival letter and according to those revival letters the limitation is available with the applicant bank. Therefore in view of the fact that the defendant has failed to put any defence before

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[SBJ] (OA No.73/2022) Page 1 of 2

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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD

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(BEFORE HON’BLE PRESIDING OFFICER, CAMP AT NANDED)

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ORDER SHEET

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this Tribunal, the case of the bank proved. 5. Therefore Original Application No.73/2022 is decreed as prayed with 6% p.a. interest, the Recovery Certificate shall stands satisfied.
6. In view of the above, I pass the following order : ORDER
A. The Original Application No.73/2022 is decreed with costs.
B. Defendants are ordered and directed to pay jointly and severally to the applicant the claim amount of Rs.33,11,959/- (Rupees Thirty-Three Lacs Eleven Thousand Nine Hundred Fifty-Nine only)alongwith interest @6% p.a..
C. The aforesaid adjudicated amount is secured by the charge on the mortgaged properties i.e. Flat No.14, admeasuring 83.61 Sq. Meter (900 Square Feet) B Wing of Hayyat Height which is part and parcel of CTS No.7646, 7647, 7648 and situated at Manzurpura, Aurangabad and bounded as under: East : Side Margin West: Duct & Passage South: Flat No.13 North : Flat No.15 as is disclosed in the Para No.05.13(1) of the OA.
D. Issue Recovery Certificate accordingly against defendant.
E. The Recovery Officer shall look into the adjustment of the amount recovered by the applicant bank during the proceeding pending before this Tribunal and draw the amount balance recoverable.
F. Order be uploaded on website. (Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[SBJ] (OA No.73/2022) Page 2 of 2

State Bank of India v. Manal

Case brief

What is this about?

What did the court decide?

State Bank of India v. Manal

Case brief

What is this about?

What did the court decide?

What the court decided

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