Allowed

State Bank of India v. M/S. Ritecure Healthcare Pvt.Ltd

DRT8 Jul 2025OA/106/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed OA filed by State Bank of India against six respondents for recovery of loan dues totaling Rs. 2.17 crores, declared respondents jointly and severally liable, and authorized proceeding against hypothecated/mortgaged properties, subject to legal heir estate limitations.

What did the court decide?

Respondents ordered to pay Rs. 2,17,53,376/- plus future interest at 17%/ga. Bank authorized to sell hypothecated/mortgaged properties and proceed against respondents' properties (subject to heir limi

State Bank of India versus M/S. Ritecure Healthcare Pvt.Ltd — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THrS THE 8rH DAY OF JULY, 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING oFFIcER

OA.No.106 OF 2O2S

Between:

State Bank of lndia,

Stressed Assets Recovery B ra nch -I, 2nd floor, TSRTC Commuter Amenity Centre, Koti, Hyderabad. Telangana.

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flcpresentcd by its Chief Manager

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Applica nt

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VERSUS

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1 . M/s. Ritecure Healthcare^pvt Ltd, Rep by its Managing Director, Rcgd office SCB 3-74-1.42, t)lot no.20lA, 1'r floor,^paigah

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Colony, SP road, Secunderabad 03.

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Mr. Ramesh Tirumala, Aged major, male, R/o H. No. 1-7 -629/92/ A, ftat no. 103, Itr floor, M usheera bad, llyderabad 500 020.

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J. Mrs. PrabhavathiNarahari, Aged major, female, H.No.l0- I 5/48/5A, Santhinagar, Kavali, Nellore, AP -524 201..

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&;'.,r"N;:l:,"00,, Flat no.405. * block. Inflfriffi^{ecrrat<shidky Lorrnge} Hi-tcch ci,#ondapur,

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\o^A.1"06/2O2s)

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Mr. VenugopalPoola, Aged major, male, Flat no.532, Main Sarovar Heights, li.No.9 7-99/3/532, Sai saqar Enclave, Hasmathpet village, Balanagar, Hyderabad - 500 009.

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Mr. Gunapati Mahesh Reddy, Aged major, male, R/o flat no.304, B block, Imperial Prestige, Leelanagar, Bcgumpet, Secunderabad, Hyderabd - 500 016.

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Defendants

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Counsel for the Parties:

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I cr the Applicant

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For the Defendants

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Sri C. Prabhakar Exparte

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ORDER

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t he Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.2,17,53,376l- (Rupees Two Crores Seventeen Lakhs Fifty Three Thousand Three Hundred and Seventy Six only) i.e.,

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a) A sum of Rs.2,14,91,604/- under loan A/c. No.41404335751 with future intere5t @ 17% p.a with monthly rests from date of application till the date of realization ;

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b) A sum of Rs.2,62,157/- under loan A/c. No.42822131379 with re'intei-est @ 77^o/o p.a with monthly rests from date of till the date of realization ;

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,h,

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nd in It for sale of hypothecated movables and mortgaged J^{o o JUhgE,-tieI} mentioned in the schedule to OA.

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W,,..'-*--t:i+E

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(oA.106/202 s )

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As per the averments in the application, the Applicant Bank states that defendant no.1 is the Principal borrower, Defendant no.4 and SrntHimaBinduGunapati were the mortgagors. Subsequent to availing of loan SmtHimaBindu died intestate, leaving behind defendant no.6 as her legal heir and defendants no. 2 to 5 stood as -,,.-ir-ri-rrrr^{s.T hc dclcndants availcdCC loan} of^Rs.200 lakhs, EPC of Rs.400 lakhs and LC facility of Rs.100 lakhs totaling Rs.700 lakhs and executed agreement of loan cum hypothecation on 07 .10.2022. Dcfendants no. 2 to 4 executed guarantee agreement. Defendant no.1 company created primary charge by way of hypothecation of all movable assets more fully described in the schedule to OA. I)efendant no.4 created equitable mortgage by way of deposit of salc -,rL(t^r.rU 1l930l)-019 and release deed No.7O9'/5/2022 in respect of schedule property-II. Late G. HimaBinducreated equitable mortgage of schedule property- III in favour of Applicant bank. The defendants also availed cash credit of Rs.290.00 lakhs and executed supplemental agreement of loan cum hypothecation dated 22.03.2024. After availing the loan facilities, the defendants failed to comply the terms of sanction, hence the applicant bank classified thc account as NPA and legal notice was issued on 06.03.2025. veral requests and demands, the defendants did not nding. Hence this OA.

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'0 0''fltrmt'

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absent and set exparte on 13.06.2025.

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(oA.106/202s)

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smtKalyaniRathod, Manager of the Applicant Bank examined herselF as n W.1 and cxhibited relevant documents, which are marked as Ex.A.1 to A.22.

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q 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 Defendants as prayed for?

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Defendants rema inedexpa rte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and she exhibited relevant documents as Ex.AL to A.22. In view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants and hence the Applicant Bank ls 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: lrre I)cfendants are jointly and severally liable to pay to thc

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Applicant Bank a total sum of Rs.2,17,53,3161- (Rupees Two Crores Seventeen Lakhs Fifty Three Thousand Three Hundred and Seventy Six only) i.e.,

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a) A sum of Rs.2,1"4,91,604/- under loan A/c. No.41404335751 future interest (0 17olo p.afrom date of application till of rea lization ;

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08JUtra(

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(oA.1.06/202s)

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b) A sum of Rs.2,62,L57/- under loan A/c. No.42\22l3l37g with fut.ure interest @ 17olo p.a from date of application till the dare of realization ;

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9' The Applicant bank is entitled to proceed against the hypothecated movables and mortgaged properties as mentioned in the schedule "I io III" to OA towards realization of the debt due;

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The Applicant Bank is also entitled to proceed against the person and properties of defendants No.2 to 6 and properties of defendant ;ro.l firrn towards realization of the debt due. Howevcr the

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Applicant bank is entitled to proceed only to the extent of estate dcvolved upon the legal heir/ defendant no.6 from the deceased Smt a llimallindu.

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

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The Applicant shall file a cost memo within two weeks from the date of rcccipt of ordcr.

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I 3. lssue Recovery certificate accordingly.

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communicate a copy of the order to the parties concerned.

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(Dictatcd 1o ihc I).n., transcribed by her, corrcctcd, siqnr:d and pronounccd by me in thc open cortrt on '.lrs iitc SL:' rl;ry of July, 2025)

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sd/-

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(G. GOPTCHAND) PRESIDING OFFICER

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08JUnm

State Bank of India v. M/S. Ritecure Healthcare Pvt.Ltd

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S. Ritecure Healthcare Pvt.Ltd

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

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Case details

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