Allowed

State Bank of India v. Vishnu Infra Projects

DRT24 Jun 2025OA/16/2025

Case brief

AI extract

What is this about?

This is an Original Application filed by State Bank of India for recovery of Rs.21,96,338/- plus future interest from the Defendants. The Defendants appeared ex-parte. The Debts Recovery Tribunal allowed the application, holding the Defendants jointly and severally liable for the amount, interest, and costs, and directed the issuance of a Recovery Certificate.

What did the court decide?

The Applicants are entitled to recover Rs.21,96,338/- with future interest at 12.40% p.a., costs, and to proceed against hypothecated assets.

State Bank of India versus Vishnu Infra Projects — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD

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DATED THIS THE 24TH DAY OF JUNE, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL. APPL]CATION No: 16 OF 2025

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State Bank of India., RASN4ECC & SARC, Door No.19-3-13, Hero Showroom (Upstairs) Renigunta Road, Tirupati - 517501 Tirupati District. Rep. by its Chief Manager(SARC).

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.....Applicant.

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Versus

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M/s. Vishnu Infra Projects., Represented by its Proprietrix Smt. Dega Manju la Sy.No.21613, D. No.22- 18- 1/8, 3'd Floor, Paleti's Towers, Garudadri Nagar, HDFC Bank Upstairs lvlangalam Road, Tirupati - 51,7507, Chittoor District.

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Also at:-

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19-3-1-D-241, Postal Colony, Tirupati - 517501.

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. .. Defendants

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Counsel for the Applicant : M/s.c.Prabhakar Sarma Defendants : Ex- parte

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:: ORDER ::

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The Applicant Bank flled the present OA for the recovery a total sum of Rs.21,96,338/- towards Cash Credit A/c. No.

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42487005207 from the defendants jointly and severally with .-it"l;*r-.,-r-uv _

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oA.NO.16/2025

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future interest @12.40%^{p.a. with monthly rests from the date} of application till the date of^{realization along with costs and in} default for sale of^{hypothecated assets.}

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Summons served on^{D1 and 2 throughpaper publication.They} were set ex-parte on 02.04.2025^{as called absentand no} representation.

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The Applicant Bank^{examined K.S.H.Sastry, Chief Manager, as} AW-1 and marked 08 documents^{through him as Ex. A.1 to Ex'} A.08.

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Ld. Counsel for the^{Applicant Bankreported ordersmay be} passed through merits. 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 hypothecated} assets?

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As stated^{supra, the Defendants remained ex-parte'The} Evidence Affidavit^{coupledwlth the recitalsin the documents} viz., Exs. A.1 to^{A.08 markedon behalf of the Applicant Bank} clinches the claim^{of the Applicant Bank against the Defendants'} Hence, I hold that^{the Defendants are jointlyand severallyliable} to^pay the OA^{claim to the Applicant Bank with futureinterest} and costs.

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In the result,^{the present Original ApplicationNo 16/2025is} attowed as under:^- OW*^

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oA'No'16'2025

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¶27

The^{Defendants are iointly and severally}

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i) liable^{to pay to the Applicant Bank a sum of} *r.rr,rU,r"/-^{towards Cash Credit A/c' No'} 42487005207^{with future interest@12'40olo}

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p.a. simple^{from the date of application till} the date^{of realization;}

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the OA^{claim issecuredbY waY of}

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ii) hypothecation^{of assets describedin the} schedule^{annexed tothe OA and the} applicant^{bank is entitledto 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 propertiesof} defendants^{for realization of its dues;}

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iv) the applicant bank^{is entitledfor the costs.}

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ar. The Applicant^{Bank is directed to file Cost Memo within2 weeks} from the date of^{receipt of this Order.}

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Issue Recovery Certificate^accordingly.

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Communicate a^{copy of this order to the parties concerned'} (Dictated to the steno, corrected,^{signedand pronounced by me in the opencourt on} this the 24rh Day^{of June, 2025).}

¶37

Ow**

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(MVESHWAR KOTHE) PRESIDING OFFICER

State Bank of India v. Vishnu Infra Projects

Case brief

What is this about?

What did the court decide?

State Bank of India v. Vishnu Infra Projects

Case brief

What is this about?

What did the court decide?

What the court decided

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