Allowed

State Bank of India v. M/S. Nandamuri Transporters

DRT20 Jun 2025OA/170/2025

Case brief

AI extract

What is this about?

In an OA for recovery, the Debt Recovery Tribunal allowed the claim against transport firm and directors jointly and severally liable, ordering payment of principal, interest, and permission to proceed against hypothecated vehicles and other properties.

What did the court decide?

Defendants jointly and severally liable to pay Rs.6,04,23,555/- with interest; permission to proceed against hypothecated vehicles and properties; issuance of recovery certificate.

State Bank of India versus M/S. Nandamuri Transporters — Company and Corporate | DRT (2025)

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IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD

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DATED THIS THE 2OrH DAY OF JUNE, 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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oA.No.170 0f 2025

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Between:

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State Bank of India, Stressed Assets Recovery Branch, 2nd floor, TSRTC commuter Amenity Centre, Bus terminal complex, Koti, Hyderabad - 500 095. Represented by its authorized officer

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Applicant

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VERSUS

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M/s. Nandamuri Transporters, Represented by its partners,

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a) Nandamuri Srinivas,

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s/o Late N. Rambabu

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b) Smt N. Surekha,

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w/o Late N. Ram Babu,

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office at H. No.2-4-1048/19, plot no.19, sy.No.133, samathapuri colony, LB nagar, Hyderabad, TS - 500 069.

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Sri Nandamuri Srinivas, s/o Late N. Rambabu,

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aged about 42years, occ: business, male, R/o H.no. 12-1-485/EP, plot n0.52, Dhanalaxmi colony, near Vishalandhra, Vishalandhra, nagole, Bandlaguda - 517 325.- 517 325.517 325.

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near Vishalandhra, Vishalandhra, nagole, 'ds Bandlaguda - 517 325.- 517 325.517 325. Also at sr& H. No.2-4- 1048/19, plot no,19, sy.No.133, q 20;unm^* samathapuri colony, LB nagar, Hyderabad, TS - 500 069. W.C/

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Also at

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(oA. No.170/202s)

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SmtNandamuriSurekha,

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w/o Late N. Rambabu,

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aged about 61 years, female, R/o flat no.4O2,4th floor, Apoorva Residence, Raghavendra Colony, Kondapur, Rangareddy District - 500 084.

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Also at

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H. No.40- 15/1-9l1, Sirisraju Street, Brundavan Colony, Labbipet, Venkateswarapuram, Vijayawada - 520 010.

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Defendants

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Counsel for the Partles:

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For the Applicant SmtTara nginiPisipati For the Defendants Exparte

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ORDER

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The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.6,04,23,555/- (Rupees Six Crores Four Lakhs Twenty three Thousand Five Hundred and Fifty five only) with interest @ 11.80o/o p.a with monthly rests from 23.04.2025 till the date of realization and in default for sale of 15 Tata vehicles as mentioned in the schedule to OA.

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2, As perr pplication, the Applicant Bank states i, that rtnership firm represented by its pa rtn also stood as guarantors availed ;lants:.-,1t9 Rs.7.23 15 Tata Signa cars. The defendants

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(oA.No.170/202s)

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executed agreement of loan cum hypothecation and guarantee agreement dated t4.02.2023. After availing the loan facilities, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NpA on 08.01.2024 and recall notice was issued on 08.04.2025. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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3, Defendants called absent and set exparte on 17.06.2025.

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4 SmtKalyaniRathod, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.7.

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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 remainedexparte. To substantiate the case of the

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Applicant W.1, official of the Applicant Bank was examined an documents as Ex.A1 to A.7. In view of the ,^{I hoftPthat} plicant Bank has established their claim i,{t0" dl{ Sffiinrtff, Defendants and hence the Applicant Bank W'-"erffi

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(oA.No.170/202s)

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is 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: The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs,6.O4,23,SSS|- (Rupees Six Crores Four Lakhs Twenty three Thousand Five Hundred and Fifty five only) with interest @ 11.80% p,a from 23.04.2025til1 the date of realization.

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The Applicant bank is entitled to proceed against the hypothecated vehicles as mentioned in the schedule 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& 3 and properties of defendant no.1 firm towards realization of the debt due.

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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 receipt of order.

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Issue Recovery certificate accordingly.

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14, Communicate a copy of the order to the parties concerned.

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,^transcribed by her, corrected, signed and^pronounced by me in the open court on

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PRESIDING OFFICER
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sd/-

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W'-*'*Y

State Bank of India v. M/S. Nandamuri Transporters

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S. Nandamuri Transporters

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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Case details

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