Allowed

State Bank of India v. M/s. Ssr Hospitals

DRT17 Feb 2025OA/243/2024

Case brief

AI extract

What is this about?

In OA No. 243/2024, the Debts Recovery Tribunal allowed the State Bank of India's application for recovery of an outstanding loan of approximately Rs. 1.43 crore against M/s. SSR Hospitals and its proprietor Dr. Smt Vanga Kalyani, granting a recovery certificate.

What did the court decide?

Recovery certificate issued for principal amount of Rs. 1,43,68,873/- with interest at 15.40% p.a., entitlement to proceed against hypothecated movables and properties.

State Bank of India versus M/s. Ssr Hospitals — Insurance | DRT (2025)

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IIY ITiL DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 17TH DAY OF FEBRUARY,2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.243 ot 2024

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Between:

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State Bank of India, Stressed Assets Recovery Branch (SARB), 2''d floor, TSRTC Commuter Amenity Centre, Bus Terminal Complex, Koti, Hyderabad, Rep by its Chief Manager

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Applicant

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VERSUS

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M/s. SSR Hospitals, Represented by its Proprietrix Dr. SmtVangaKalyani, The 2nd defendant herein

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H.No. t 5-27-564, LIG-564, Road no.3, KPHB colony, Hyderabad - 500 085,

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Dr. SmtvangaKalyani, w/o Sri SangeethaVenu, aged about 36^years, occ: business and proprietrix of defendant no.1.

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flat no. 128, Jalavayuvihar colony, KPHB, Kukatpally, Hyderabad - 500 072.

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And

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H.No.1-138, RCM colony, Ganginenipalem village, G. KonduruMandalam, Krishna district - 521 229.

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--dsftI
"<br>a 17 FEBIII. j
W*-r
Defendants

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(oA.No.Z43/2024)

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Counsel for the Parties:

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For the Applicant For the Defendants

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Sri G. PrabhakarSarma

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Expa rte

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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.1,43,68,873/- (Rupees One Crore Forty Three Lakhs Sixty Eighty Eight Thousand Eight hundred and Seventy Three only) with interest @ 15.40olo p.a with monthly rests from date of application till the date of realization and in default for sale of hypothecated property as described in the schedule to OA.

¶22

As per the averments in the application, the Applicant Bank states that defendant no.1 is a Proprietary concern represented by its Proprietrix the defendant no.2 availed working capital loan under cash credit of Rs.5.00 lakhs and term loan of Rs.145 lakhs (overall loan f'acilitics of Rs.150 lakhs ) vide letter of arrangement dated 22.09.2022, To secure due repayment of overall loan facilities, the defendants executed Agreement of loan cum hypothecation dated L5.07.202 lhe^{defendants hypothecated all the medical} equ !rrent^{assets, book debts, receivablesand} described in the schedule to OA. After defendants failed to comply the terms of

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¶24

(oA.No.243/2O2al

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sanction, hence the applicant bank was constrained to classify the account as NPA and issued legal notice dated 11.05.2024. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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Defendants called absent and set exparte on 16.10.2024.

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

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Heard the Ld. Counsel for the Applicant Bank.

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6, 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 remained exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exlribited relevant documents as Ex.A1 to A.8. In view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants and hence the Applicant Bank

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the claim made in the OA with future interest
an
d"ig6ts.-'' #\
i1'
s? ,$
4, 1l rt8 2025 i
B. In the resu lt , the present* is allowed with costs, as under:
3
'{'c;i,JYr/E*XW

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(OA.No.243/2024)

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The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.1,43,68,8731- (Rupees One Crore Forty Three Lakhs Sixty Eighty Eight Thousand Eight hundred and Seventy Three only) with interest @ 15.40olo p.a from date of application till the date of realization;

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The Applicant bank is entitled to proceed against the hypothecated movables as described in 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 No.2 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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Communicate a copy of the order to the parties concerned.

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(Dictated to the P.n., transcribed by her, corrected, signed and pronounced by me in the open court on

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sdl(G. GOPTCHAND) i; lTFEBzots PY PRESIDING OFFICER ",,,.lffdilfltit'"-^.

State Bank of India v. M/s. Ssr Hospitals

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/s. Ssr Hospitals

Case brief

What is this about?

What did the court decide?

What the court decided

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