Allowed

M/S. Andhra Pradesh State Financial Corporation v. M/S. Jgb Enterprises

DRT18 Jun 2025OA/424/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by M/s. Andhra Pradesh State Financial Corporation against M/s. JCB Enterprises and its proprietor. The court found that the defendants failed to comply with loan terms and classified the account as NPA. Orders recovery of principal with interest and allowed deprivation of hypothecated properties.

What did the court decide?

Recovery of Rs.1,69,245/- with 24% per annum interest; entitlement to proceed against hypothecated properties and persons of defendants; issuance of recovery certificate.

M/S. Andhra Pradesh State Financial Corporation versus M/S… — Company and Corporate | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE 18TH DAY OF JUNE, 2025

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PRESENT: SRI GUMMADI GOPICHAND,^{PRESIDING OFFICER}

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OA.No.424 ot 2024

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Between :

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M/s. Andhra Pradesh State Financial Corporation, Branch office at 2'd floor, ERR complex, Station road, Khammam, Telangana. Represented by its Branch Manager

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Applicant

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VERSUS

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M/s. JCB Enterprises, Represented by its ProPrietor, Sri Deeti Ravindar, D.No.5-2-42, Khanapuram Haveli, IDA, Khammam district - 507 002.

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Sri Deeti Ravindar, s/o Raja Mallaiah, aged major, male, H.No.1B35-D, Near Regional hospital, Ramesh nagar, Godavari Khani, Pedapalli district, Telangana - 505 209.

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Defendants

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Counsel for the Parties: For the Applicant Sri R. Rajendra Prasad For the Defendants Expa rte 1. The Applican OA against Defendants^for recovery of a tot ',69,245/- (rupees One Crores

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(oA. No.2ssl2023 )

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One Lakh Sixty Nine Thousand Two^{Hundred and Forty five} only) wlth further interest @^{24o/o p.a with monthly rests from} OL.LO.2O24 till the date of realization^{and in defaultfor sale of} hypothecated and mortgaged^{properties as mentionedin the} schedule "A and B " to OA.

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As per the averments in the application,^{the Applicant Bankstates} that defendant no.1 is an^{enterprises representedby its proprietor} / defendant no.2 availed term loan of Rs.95 lakhs^{and executeddeed} of hypothecation and sanction letter^{for loan etc. The defendants} deposited the schedule^property as^{mentioned in the OA'After} availing the loan facilities, the defendants^{failed to complythe terms} of sanction, hence the applicant bank^{classified the account as NPA} and demand notice was^issued on^{22.I2.2023.Inspiteof several} requests and demands, the defendants^{did not clear the outstanding'} Hence this OA.

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Defendants called absent^{and set exparteon 16.05'2025.}

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Sri Chikka, S-enior Branch^{Manager of the Applicant} Ba as AW.1 and exhibited^{relevantdocuments,} 1 to A.7.

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1 $ 'J'lll^r'175 5. the Ld. Couns Applicant Bank.

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(oA. No.25sl2023)

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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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7' Defendants remained exparte. To substantiate the case of the Applicant Bank, AW.1, ofFicial of the Applicant Bank was examined and he exhibited rerevant documents as Ex.A1 to A.7. In view of the above, I hord that the Appricant Bank has estabrished their craim made in the OA against the Defendants and hence the Applicant 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: The Defendants are joinfly and severally liable to pay to the Applicant Bank a total sum of Rs.l,O1,6g,Z4S/_ (rupees One Crores One Lakh Sixty Nine Thousand Two Hundred and Forty five only) with further interest @ 24o/o p.a from 01.1o.2o24till the date of realization;

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The nk is entitled to proceed against the hypothecated es as mentioned in the schedule "A & 8,, to

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QA towa liza *n the debt due; 1B^JUflryls

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(oA. No.2ssl2023 )

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The Applicant Bank is also entifled to proceed against the person and properties of defendants towards realization of the debt due.

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The Applicant Bank is entiued 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.A., transcribed by her, corrected, signed and pronouoced by me in the open court on this the 18th lune, 2025)

sd/-

(G. GOPTCHAND)

PRESIDING OFFICER

'k 1 o Jutt?$ft

onr-1, HYoERAAA0

M/S. Andhra Pradesh State Financial Corporation v. M/S. Jgb Enterprises

Case brief

What is this about?

What did the court decide?

M/S. Andhra Pradesh State Financial Corporation v. M/S. Jgb Enterprises

Case brief

What is this about?

What did the court decide?

What the court decided

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