Debts Recovery Tribunal allowed the applicant bank's application for recovery of a loan of Rs. 74.60 lakhs against respondents for default on repayment, directing sale of hypothecated property.
Respondents declared liable to pay Rs. 74.60 lakhs with interest; Respondent 1 and 2 liable for sale of hypothecated movable; Recovery certificate issued.
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IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD
DATED THIS THE 17th DAy OF DECEMBER, 2025
PRESENT: SRI GUMMADI GoPICHAND, PRESTDING OFFICER
OA.No.22 of 2O2S
Between:
State Bank of India, Stressed Assets Recovery Branch-Il, H.no. 1-B-563/1, first floor, Opp Sandhya Theatre, RTC'.X,, roads Hyderabad, Telangana. Represented by its Chief Manager
Applicant
VERSUS
R.K. Pleasant, Kista Reddy colony, Sun City, Bandlaguda, Hyderabad - 500 091.
s/o Sri M. Maheshwar, male, major, H.No.2-29/4, plot no.3t, Himagiri nagar colony, Peeram Cheruvu, Hyderabad - 500 086.
Defendants
Counsel for theparties:
For the Applicant Sri M. Janaki Ram Sri D. Rohit Reserved on t.12.2025 Pronounced on .12.2025 .72.2025
(OA.No.22 of 202s)
ORDER
1' The Applicant Bank filed the present oA against Defendants for recovery of a total sum of Rs.74,60,562/_ (Rupees Seventy Four Lakhs Sixty Thousand Five Hundred and Sixty Two onty) with interest @ 9.25olo p.a with monthly rests from 03.01.2025 till the date of realization and in default for sale of hypothecated property as mentioned in the schedule to OA.
As per the averments in the application, the Applicant Bank states that defendant no.1 is a proprietary concern represented by its proprietor/ defendant no.2 avaired roan of Rs.60.00 rakhs vide retter of arrangement dated 23.02.2022. The defendants hypothecated the machinery/ electronic equipment in favour of Applicant bank and executed roan cum hypothecation agreement on 23.02.2022. It is submitted by the Appricant bank that the Defencrants have avaired the said loan facilities and failed to keep up the repayment schedule, as such the account was classified as NpA on 09.04.2024 and issued legal notice dated L0.t2.2024. Inspite of demands made by Applicant the defendants have not regurarized the account, and the defendants did not come forward to repay the same. The total claim of Applicant against def.gndants ls of Rg.74,Go,s62/- (Rupees seventy Four
Lakhs undred and Sixty Two only) with 9.25o/o p.a with rests from 03.01.2025 till the .17 lEc 2M W,"#
(oA.No.22 of 202s)
agai ii) 1 7 l,Ec n25
(OA.No.22 of 2o2s)
6' As per the documents fired by the Applicant Bank and arso as per the admissions made by the defendants in the Written statement, it is very clear that the defendants have avaired roan from the Appricant Bank, but failed to repay the amount. All the amounts paid by the defendants are crearry mentioned in the statement of account fired by Appricant Bank. The defendants have not praced any materiar documents to show their bonafides for estabrishing that the schedure property was not hypothecated in favour of Applicant bank.
AW.1 is not cross examined by the counsel for defendants. The defendants have not come forward to give evidence to substantiate that their riability is ress than the amount mentioned in the oA Under such circumstances, the evidence of AW.1 coupred with recitals Ex.A.1 to A.B stood unchallenged and unrebutted. The Applicant bank crearry estabrished that the defendants are riabre to pay the OA amount to the Applicant bank.
Point No.ii)
The Defendants are joinfly and severaily riabre to pay to Appricant Bank a total - (Rupees Seventy Four Lakhs Sixty and Sixty Two only) with interest @ p.a till the date of realization.
(OA.No.22 of 202s)
sdl-
(G. GOPTCHAND) PRESIDING OFFICER
17 lllc 2W
COPY
C.!Ii.I, ^*#lrotv/-Ti YDERTBIA.
5
1 issue framed by the court
Whether the bank has proved its claim as made in the original application.
1 provisions across 1 enactments
State Bank of India
M/s. Smile Makers The Dental Lounge
Dr. M. Vivek
Gummadu Gopichand
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
