Allowed

State Bank of India v. M/S. Digital Electronics and Home Appliances, Rep by Its Proprietor

DRT24 Oct 2025OA/364/2025

Case brief

AI extract

What is this about?

The court allowed an Original Application filed by State Bank of India for recovery of a sum of Rs. 40,91,702/- along with interest and costs from the defendants, holding them jointly and severally liable based on ex-parte evidence.

What did the court decide?

Recovery of Rs. 40,91,702/- with future interest at 11.55% p.a. simple, costs, and proceeds against hypothecated assets and properties of defendants.

State Bank of India versus M/S. Digital Electronics and Home… — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 24TH DAY OF OCTOBER, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons,), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 364 OF 2025

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State Bank of India., SMECC Branch, Cyberabad No.12-6-39/ Al2F, Y Function Kukatpally, Hyderabad - 500097 Medcha l/ M a lkajg iri District. Rep. by its Chief Manager.

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.....Appticant.

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Versus

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lvl/s. Digital Electronics and Home Appliances., Rep by its Proprietor D.No.2-4-135, Sy.No.22, Opp Hanuman Temple, Near Sikh Village, Tadbund Secunderabad - 500009.

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Sri. Aslamuddin Mohammed s/o. shahabuddin Mohammed 14ajor, Male, Proprietor of l4ls. Digital Electronics and Home Appliances Rlo. l-7-57Al25lFl3, Ram Nagar Backside Chandra Residency Zamistanpur, Hyderabad - 500020.

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.. . Defendants

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Cou nsel for the Applicant

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: M/s. P. V. Satyanarayana

Defendants

: Ex-parte

:: qLLE& ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.40,91,7O2/- towards CC Loan from the defendants

K..'f

oA.NO.364/202s

jointly and severally with future interest @12.50% p.a. monthly rests from the date of application till the date of of realization along with costs and in default for sale hypothecated assets.

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Summons served on D1 and 2 through paper publication. They were set ex-parte on 25.07.2025 as called absent and no representation.

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The Applicant Bank examined Ajit Singh Yadav, Chief Manager, as AW-1 and marked 06 documents through him as Ex. A.1 to Ex. A.06.

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Heard the Ld. Counsel for the Applicant Bank. Perused the material placed on record.

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The^point that arises for consideration is:-

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

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.06 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 Applicant Bank with future interest and costs.

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In the result, the present Original Application No.364/2025 is allowed as under: - ,M-.g

U)/^?,-:ry\).-

oA.NO.364/2025

i) The Defendants are^jointly and severally liable to^pay to the Applicant Bank a sum of Rs.4O,9l,7OZl- towards CC Loan wlth future interest @11.55o/o p.a. simple from the date of application till the date of realization; 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 entitled to^proceed against the same to realise its debu iii) the applicant bank is also entitled to^proceed against the person and properties of defendants for realization of its dues; iv) the applicant bank is entitled for the costs.

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The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certificate according ly.

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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 24'h Day ofOctober, 2025).

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ESHWAR KOTHE) PRESIDlNG OFFICER

State Bank of India v. M/S. Digital Electronics and Home Appliances, Rep by Its Proprietor

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S. Digital Electronics and Home Appliances, Rep by Its Proprietor

Case brief

What is this about?

What did the court decide?

What the court decided

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