Allowed

State Bank of India v. Raghavan Copper (P) Limited

DRT25 Aug 2025OA/312/2025

Case brief

AI extract

What is this about?

The DT II at Hyderabad allowed an original application filed by State Bank of India for recovery of Rs.41,19,658/- along with interest from Raghavan Copper (P) Limited and individual directors via ex-parte order.

What did the court decide?

Defendants ordered to pay Rs.41,19,658/- with interest; OA claim secured by hypothecated assets; bank entitled to costs and recovery certificate.

State Bank of India versus Raghavan Copper (P) Limited — Company and Corporate | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 25TH DAY OF AUGUST, 2025 PRESENT: SH. MMESHWaR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

¶2

ORIGINAL APPLICATTON No: 312 OF 2025

¶3

State Bank of India., SMECC Branch, Cyberabad No.L2-6-39 / A/2F, y Junction Kukatpally, Hyderabad - SOOO72 Medchal - Malkajgiri District. Rep. by its Chief Manager.

¶4

.....Applicant.

¶5

Versus

¶6

Raghavan Copper(p) Limited., Rep by its Directors, plot No.315 & 334 2nd Floor, Subashnagar, JeedimeUa Quthbullapur Mandal, Medchal-Malkajgiri District, Hyderabad - 500055.

¶7

Sri.Basa Chandramouli, S/o.Basa Ramulu Major, Male, Director of Raghavan Copper (P) Limited, R/o.plot No.1O1, Shiva Parvathi Nilayam, Subashnagar Quthbullapur Mandal, Medchal-Malkajgiri District, Hyderabad - 500055.

¶8

Smt.Basa Krishnaveni, W/o. Basa Chandramouli, Female, Major Director of Raghavan Copper (p) Limited R/o.Plot No.101, Shiva parvathi Nilayam Subashnagar Quthbullapur Mandal, Medchal Malkajgiri District, Hyderabad - 500055.

¶9

... Defendants

¶10

Counsel for the Applicant : Mr.p.V.Satyanarayana

¶11

Defendants , e*-oa,re 1/ffi:',,r

oA.NO.312/2025

:: ORDER^::

l. The Applicant^{Bank filed the present OA for the recovery a total} sum of Rs.41,19,658/-^{towards CC Loan Limit from the} defendants^{jointlyand severallywith future interest @L4'75o/o} p.a. monthly rests from^{the date of applicationtill the date of} realization along^{with costs and in default for sale of} hypothecated assets'

¶16

Summons served on^{Dl to 3 through paper publication'They} were set ex-parte on 07.07.2025^{as called absentand no} representation.

¶17

The Applicant Bank examined^{Burra Raj Sumanth Kumar,Chief} Manager, as AW-1 and^{marked 10 documentsthrough him as} Ex. A.1 to Ex. A.10.

¶18

Heard the Ld. Counsel for the^{Applicant Bank.Perusedthe} material placed on record.

¶19

The^point that arises for consideration^is:-

¶20

Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated assets?

¶21

As stated supra, the Defendants remained ex-parte.^The Evidence Affidavit coupled with the recitals in the^documents viz., Exs. A.1 to A.10 marked on behalf of the Applicant^Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are^jointly and severally liable to pay the OA claim to the 4pplicant Bank with future interest and costs. ffi*

¶22

oA.NO.312l202s

¶23

In the result, the present Original Application No.31212025 is allowed as under: -

¶24

i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.41,19,658/- towards CC Loan Limit with future interest @8.90olo p.a. simple from the date of application till the date of realization;

¶25

ii) the OA claim is secured by way of hypothecation of assets described in the schedule annexed to the OA and the applicant bank is entiUed to proceed against the same to realise its debt;

¶26

iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

¶27

iv) the applicant bank is entiUed for the costs.

¶28

B. The Applicant Bank is directed to fire cost Memo within 2 weeks from the date of receipt of this Order.

¶29

Issue Recovery Certifi cate accordingly.

¶30

Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 25th Day of Au8ust, 2025).

¶31

ffi'.sn (RAMESHWAR KOTHE) PRESIDING OFFICER

State Bank of India v. Raghavan Copper (P) Limited

Case brief

What is this about?

What did the court decide?

State Bank of India v. Raghavan Copper (P) Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Sri vijaykumar versus Bank of Maharashtra

Ski Metal Craft versus Bajaj Finance Ltd.

State Bank of India versus M/S. K.S. Care Hospital

Union Bank of India versus M/S. Swathi Dental Manufacturer

Axis Bank Ltd. versus Mohammadmahdi Kelidari

Union Bank of India versus M/S. Padmavathi Industry