Allowed

State Bank of India v. M/S. Zoya Traders

DRT13 Jun 2025OA/351/2024

Case brief

AI extract

What is this about?

OA allowed against proprietor concern and sole proprietor for recovery of Rs.35.34 lakhs with future interest and costs, permitting sale of hypothecated movables and attachment of properties. PETITIONER AND RESPONDENT

What did the court decide?

Recover Rs.35,34,409 with future interest; sale of hypothecated movables; attach properties of defendants; issue recovery certificate.

State Bank of India versus M/S. Zoya Traders — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 13TI{ DAY OF JUNE, 2025

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PRESENT: sRI GUMMADI GOPICHAND, PRESTDING OFFICER

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OA.No.3S1 ot 2024

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Between :

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State Bank of India, :lfe-ssed^{Assets Recovery Branch-I,} 2_" floor, TSRTC, Commuter nmeniiy Centre, Koti, Hyderabad. Represented by its Chief Manager

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Applicant

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VERSUS

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M/s. Zoya Traders, Represented by its proprietor Sabiya, Shop no.1,2- 3-31/8, Subhashgunj, Zaheerabad, Sangareddy district.

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Ms. Sabiya, D/o IshaqGouri, aged 39 years, occ; business, H.No.5-1-359, shantinagar, Zaheerabad, Sangareddy district - 502 220.

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Defendants

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Counsel for For the Ap Smt B. RamanaKumari For the ffi% Expa rte ;^13Juilzmr J 1. The e present OA against Defendants for r:ecovery of d of Rs.35,34,4O9/- (Rupees Thirty Five Lakhs Thirty Four thousand Four Hundred and Nine only) i.e,,

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(OA. No.3s1l2024)

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a) a sum of Rs.11,93,402/- with future interest @ 14.40% p.a with monthly rests from OB.OB.2024 till the date of realization;

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b) a sum of Rs.23,84,4L7/-with future interest @ 14.40% p.a with monthly rests from 08.08.2024 till the date of realization;

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and in default for sale of hypothecated movables as mentioned in the schedule to OA.

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As per the averments in the application, the Applicant Bank states that defendant no.1 is a proprietary concern ancr defendant no.2 is its sole proprietor avaired cash credit facirity of Rs.10.00 rakhs and term loan facirity of Rs.20.00 rakhs vide retter of arrangement dated 01.11.2022. Defendant no.1 executed agreement of loan cum hypothecation in favour of Applicant bank and agreed to repay in 69 monthly installments of Rs.54,437/_. After availing the loan facirities, the defendants faired to compry the terms of sanction, hence the appricant bank crassified the account as NpA and regar notice was issued on Il.O7.2OZ4. Inspite of several requests and demands, the defendants did not crear the outstanding. Hence this oA.

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'ar#
3.
.and 5e! exparte on 30.05.2025.
\ {.

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(oA.No.351/2024)

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Sri R. Loganathan, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as

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Ex.A.1 to A.7.

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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

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entitled for the claim made in the OA against the Defendants as

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prayed for?

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Defendants remainedexpa rte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited rerevant documents as Ex.Al to A.7. 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 Appricant Bank is enti'ed to recover the craim 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:

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The Defendants are joinUy and severally liable to pay to the Applicant Bank a total sum of Rs.35,34,4Og/- (Rupees Thirty Five Lakhs Thi usand Four Hundred and Nine only) i.e., (qq a) ffi^{-',ffir,-';l*.,'</sup> iu Future interest @ 14.40o/o p.a from o&.zo73ti11rfiSfate a lization;}

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(oA.No.351 12024)

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c) a sum of Rs.23,94,4L7/_ with future interest @ 14.4Oo/o p.a from 08.08.2024 till the date of realization;

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The Applicant bank is entiiled to proceed against the hypothecated

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movables as mentioned in the schedule to OA towards realization of

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the debt due;

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10' 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 Appricant Bank is entiiled to the costs of the oA.

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72' 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'A , transcribed by her, corrected, signed and pronounced by me in the open court on this the 13th June, 2025)

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sd/-

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(G. GOPTCHAND) PRESIDING OFFICER

State Bank of India v. M/S. Zoya Traders

Case brief

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State Bank of India v. M/S. Zoya Traders

Case brief

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