Allowed

State Bank of India v. M/S. Mtd Distributors

DRT10 Sept 2025OA/140/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application for recovery of dues and costs. Claims were made jointly and severally along with secured mortgage properties but defendants remained ex-parte since summons were served by paper publication and they called absent.

What did the court decide?

Defendants to pay Rs.1.04 crore with interest and costs; OA claim secured by mortgage properties; entitlement to proceed against person and properties of defendants; costs awarded.

State Bank of India versus M/S. Mtd Distributors — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 1OTH DAY OF SEPTEMBER, 2025

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PRESENT: SH. RAMESHWAR KoTHE, B.com,, L.LB. (HonS.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 140 OF 2025

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State Bank of india., A/c 0f SBI, SME at 28-1-56, lstFtoor Above SBI Treasury Branch Ananthapur Town & Dist., (Since A/c Transferred to SBI, SARB D. No.54-20-18/3FlU6, 3rd Ftoor Upstairs of KFC, Gurunanak Nagar Road Vijayawada - 520008, NTR District, A.p. Rep. by its Chief Manager.

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... , . Appticant.

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Versus

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I4ls. MTD Distributors., Rep by its Proprietrix Mrs. Devarsetty tyyth ili Door No.10/419, Ad imu rthy Naqar Ananthapu r - 515001.

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Mrs. Devarasetty Mythili W/o. D.Shri Hari, Aged tvlajor Occ: Business, R/o.6th Cross Sai Nagar Ananthapur, Town & District, A.P.

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Mr. Debarasetty Sree Hari S/o. D.lvladduleti, Aged Major, Occ: Business R/o.6th Cross Sai Nagar

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Ananthapur, Town & District, A.P.

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.. . Defenda nts

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Counsel for the Applicant : l4/s. V.Raghu Defendants : Ex-parte [^Y5'^'e

oA.NO.1lro/202s

:: SLLLL^::

The Applicant^{Bank filed the present OA for the recovery a total} sum of Rs.1,04,6^{8,4OBl- i'e., a sum of Rs 37,56,109/-towards} TL A/c. No.40597^{2g2L42wilh interest@9'25olop a' and a sum} of Rs.67,12,2ggl-^{towards CC A/c No 40690820201with} interest @13.25V0^{p.a from the defendantsjointly and} severally with^{monthly rests from the date of application till the} date of^{realization along with costsand in default for sale of OA} schedule ProPerties.

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Summons served^{on D1, whereassummons servedon D2 and} 3 through^{paperpublication. They were set ex-parte on} 77.06.?:025 as^{called absentand no representation'}

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3, The Applicant^{Bankexamined G.Sambasiva Rao, lvlanager' as} AW-1 and marked^{40 documentsthrough him as Ex A l to Ex} A.40.

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Heard the Ld.^{Counselfor the Applicant Bank' Perused the} material Placed^{on record.}

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The^point that arises^{for considerationis:-}

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Whether the Applicant^{Bank is entitled} for the claim made in the^{OA against} the Defendants and OA^schedule properties?

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As stated supra, the Defendants^{remained ex-parte. The} Evidence Affidavit coupled^{with the recitalsin the documents} viz., Exs. A.1 to^{A.4O markedon behalf of the ApplicantBank} clinches the claim of^{the Applicant Bank against the Defendants.} Hence, I hold that the Defendants^{are jointlyanq severallyliable} Xry1o'te

,/^'t')'-

oA.NO.140/2025

to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the^present Original Application No.140/2025 is allowed as under:^-

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.1,04 ,68,40A/- i.e., a sum of Rs.37,56,109/- towards TL A/c. No. 40597292142 and a sum of Rs,67,72,299/towards CC A/c. No.40690820201; with future interest @9.1070 p.a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of mortgage of properties described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

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iii) the applicant bank is also entitled to^proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entitled for the costs.

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The Applicant Bank is directed to file Cost lvlemo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certificate accordinsly, 0lY/r.$9

oA.NO.140/2025

Communicate a copy of this order to the^{parties concerned.} (Dictated to the steno, corrected, signed and^pronounced by me in the open court on this the loth Day of September, 2025).

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ffi.,r"' (RAMESHWAR KOTHE) PRESIDING OFFICER

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State Bank of India v. M/S. Mtd Distributors

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S. Mtd Distributors

Case brief

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What did the court decide?

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