Allowed

State Bank of India v. Sri Shaik Ibrahim

DRT8 Jan 2025OA/9/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Attachment application filed by State Bank of India against Sri Shaik Ibrahim for recovery of a demanded loan amount along with interest and costs, holding that the bank established its claim.

What did the court decide?

Defendant liable to pay total sum of Rs.23,93,884/- with future interest; Applicant Bank entitled to proceed against mortgaged property, person and properties of defendant; Recovery certificate issued

State Bank of India versus Sri Shaik Ibrahim — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.I AT HYDERABAD

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DATED THrs rHE 8rH DAy oF JANUARv, zo2s

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER OA.No.9 ot 2024

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Between:

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State Bank of India, Stressed Assets Recovery Branch, 2nd floor, TSRTC, CAC, Koti, Hyderabad, Telanga na State. Represented by its Chief Manager

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Applicant

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VERSUS

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Sri Shaik Ibrahim, S/o Sri Shaik Hussain, Aged about 51 years, male, Occ: business, H/No.6-279/26/G2, Ground floor, kakathiya Residency, Road no. 1, Kakathiyanagar, Chintal, Medchal-N4alkajgiri District - 500 054.

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R/o flat no.6-279/26 to 29/203, (PTrN 11s0804937), Kakathiya Residency, Kakathiya Nagar, Chintal, MedchalMalkajgiridist- 54.

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Defendant

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Counsel for the^parties: For the Applicant f6' Sri Ch. Dayakar Rao For the Defendan AP * i:-< 0 0 J,1il²ⁿ²⁵ '. .:l

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(oA.No.9 of 2024)

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ORDER

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The Applicant Bank filed the^present OA against Defendant^for recovery of a total sum of Rs.23,93,884/- (Rupees Twenty Three Lakhs Ninety Three Thousand Eight hundred And Eighty Four only) with future interest @ 11.45olo p.aincluding penal interest from the date of application till the date of realization and in default for sale of mortgaged property as mentioned in the schedule to OA.

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As per the averments in the application, the Applicant Bank states that defendant availed personal loan against property scheme under medium term loan of Rs.24.00 lakhs vide sanction letter dated 20.05.2021. As a security to the loan availed, the deFendant offered and mortgaged the immovable property and deposited the Regd Partition Deed no.11250/2021 dated 24.03.2021 rcgd in the office of After

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Sub Registrar, Quthubullapur, MedchalMalkajgiri district.

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availing the loan facility, the defendant failed to comply the terms of sanction, hence the applicant bank was constrained to classify the account as NPA and issued legal notice dated 06.11.2023. Inspite of several requests and demands, the defendant did not clear the outstanding. Hence this OA.

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rffi

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set exparte on t6.07.2024.
i* $8Ltttlr1tl5 :i
i#.-, ^ iij.,
\a^ x
,W*,;rlV^€.'f "

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(oA.No.9 of 202a)

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Sri P. Sandeep, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.9.

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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 Defendant as prayed for?

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Defendant remained exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited relevant documents as Ex.A1 to A.9. In view of the above, I hold that the Applicant Bank has established their claim made in the oA against the Defendant and hence the Appricant Bank 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 Defendant is riable to pay to the Appricant Bank a totar sum of Rs.23,93,884/- (Rupees Twenty Three Lakhs Ninety Three Thousand Eight hundred And Eighty Four only) with future

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inte 57o p.afrom the date of applicationtill the date of
.: 0sJrN2025 I
.-1, 1..:!
W**#

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(OA.No.9 of 2024)

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The Applicant bank is entitled to proceed against the mortgaged property 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 defendant towards realization of the debt due.

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

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The Applicant shail fire a cost memo within two weeks from the date of receipt of order.

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13, Issue Recovery certificate accordingly.

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Communicate a copy of the order to the pa rties concerned.

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(Dictated to the P A., transcribed by her, corrected, signed and pronounced by me in the open court on this the Sthday of Jan, 2025)

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sd/(G. GOPTCHAND) PRESIDING OFFICER

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0I uNm25

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tr""'Ek Rrfi'trtt D?i-!. ^3rr'^HtoeRABAO'

State Bank of India v. Sri Shaik Ibrahim

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sri Shaik Ibrahim

Case brief

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What did the court decide?

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