Allowed

State Bank of India v. Mr. Mohammed Jaffer Baseer

DRT13 Feb 2025OA/321/2024

Case brief

AI extract

What is this about?

In an Original Application for recovery of a personal loan, the Debts Recovery Tribunal allowed the bank's claim, holding that the Bank established its case through witnesses and documents. The Defendant is ordered to pay the outstanding amount with interest and future interest from the date of realization.

What did the court decide?

Defendant to pay Applicant Bank Rs. 23,07,132/- plus interest at 11.80% p.a. from 12.08.2024 to realization date with costs.

State Bank of India versus Mr. Mohammed Jaffer… — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE 13TH DAY OF FEBRUARY'2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.321 ot 2024

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Between:

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State Bank of India, Stressed Assets Recovery Branch-II, First floor, Opp Sandhya Theatre, RTC Cross Road, Chikkadpally, Hyderabad. Represented by its Chief Manager

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Applicant

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VERSUS

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Mr. Mohammed Jaffer Baseer, S/o Mohammed Allauddin, H.No. 19-3-627, Misri Gunj, Kumarwadi, Yahiya Pasha ki darga, Hyderabad - 500 053.

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Defendant

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Counsel for the Parties:

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For the Applicant Sri M.V. Janaki Ram

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For the Defendant Exparte

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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,O7,132l- (Rupees Twenty

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Three La f"ffiBEr nd One hundred and Thirty Two only) intere$| @ lo^{p.awith monthly rests from} tion. 12.08.202,4 til BrqpptgEf i. - li

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(oA.No.321 OF zO24)

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As per the averments in the applicauon, the Applicant Bank states that defendant availed personal loan under xpress credit scheme for a sum of Rs.24,2l,2OO/- vide letter of arrangement dated 11.t0.2022. The defendant agreed to repay the loan with interest @ 11.80o/o p.a with loan repayable in 72 equated monthly instalment of Rs.47,0841-. After 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 on 10.04.2024 and issued legal notice dated 26.07.2024. Inspite of several requests and demands, the defendant did not clear the outstanding. Hence this oA.

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Defendant called absent and set exparte on 31.12.2024.

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Sri Jeval Rama Rao, 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 Defendant as ,,.r"g4eq&\

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Defeiidant- remEined J&t". To substantiate the case of the :,^13FEB2n2',

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Appljcant Bank, AW'.'l, officiFl of the Applicant Bank was examined 'i;a"$. wW'2^^-,,J

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(oA.N0.321 OF 2024]|

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and he exhibited relevant documents as Ex.A1 to A.7. 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 Applicant 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 liable to pay to the Applicant Bank a total sum of Rs.23,07,132/- (Rupees Twenty Three Lakhs Seven Thousand One hundred and Thirty Two only) with interest @ 11.80o/o p.a from 12.08.2024 ltl the date of realization^.

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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 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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by her, corrected, signed and pronounced by me in the open 2025)

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sdl(G. GOPTCHAND) PRESIDING OFFICER

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TRUE COPTI,L'tsffifl' Assf. Reglslrrr DFlf-l^Hvflc.',nq14

State Bank of India v. Mr. Mohammed Jaffer Baseer

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mr. Mohammed Jaffer Baseer

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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