Allowed

State Bank of India v. M/S. Alamelu Manga International Bakers Pvt. Ltd.

DRT15 Apr 2025OA/432/2024

Case brief

AI extract

What is this about?

The Trial Court adjudged an Original Application filed by State Bank of India for recovery of loan dues. The court held the bank's claim established and directed realization of principal, interest, and proceeds from mortgaged properties against borrowers and guarantors.

What did the court decide?

Recovery of principal sum with interest from borrowers and guarantors; realization from hypothecated and mortgaged properties; issue of recovery certificate.

State Bank of India versus M/S. Alamelu Manga… — Execution and Attachment | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.I AT HYDERABAD

¶2

DATED THrS THE 15rH DAY OF APRTL, 2025

¶3

PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

¶4

OA.No.432 of 2024

¶5

Between:

¶6

State Bank of India, Stressed Assets Recovery Branch (SARB-II), 1-B-563/1, RTC cross Roads, Opp. Sandhya theatre, 1't floor, Chikkadpally, Hyderabad - 500 020. Represented by its Chief Manager

¶7

Applicant

¶8

VERSUS

¶9

1, M/s. Alamelu Manga International Bakers Pvt ltd, Represented by its Managing director, Villa no.13B, No-7-30, MYE villas, Chengicharla, MedchalMalkajgiri Ranga Reddy dist - 500 076.

¶10

Also at:

¶11

Factory : Sy.No.564/4, 564lAA, 5641E, 5BB, Raghavapuram village, Bibinagar Mandi, yadadri, Bhuvanagiridist- 508^126.

¶12

Sri P. Ram Subhash, s/o Sudhakar Reddy P, aged 54 years, male,

¶13

Villa no.13B, No-7-30, MYE villas, Chengicha rla, Medchal Ma^I kajgiri Ranga Reddy dist - 500 076.

¶14

,t
5

¶15

Smt P. RatnaPriya, w/o Sri Ram Subhash, aged 52 years, female,

¶16

(oA. No.432l2024)

¶17

Villa no.138, No-7-30, MYE villas, Chengicharla, MedchalMalkajgiri Ranga Reddy dist - 500 076. 4. Smt G. Aruna, Aged 21 years, female, Villa no.138, No-7-30, MYE villas, Chengicharla, MedchalMalkajgiri Ranga Reddy dist - 500 076.

¶18

NamoBalaji Food Pvt Ltd, Represented by its Director, t2-tl/ 1457 / L, Bhoudhanagar, lamai Osmania, Warasiguda, Secunderabad - 500 061.

¶19

Also at

¶20

Sy. No. 564lA, 564/ AA, 564/^E, 588, Raghavapuram village, Bibinagar Mandi, yadadri, Bhuvanagiridist- 508^126......

¶21

Defendants

¶22

Counsel for the Parties:

¶23

For the Applicant Sri C. Prabhakar For the Defendants Ex^pa rte

¶24

ORDER

¶25

The Applicant Bank filed the^present OA^{against Defendants for} recovery of a total sum of Rs.7,8L,72,486/-(RuPees^Seven Crores Eighty one lakhs Seventy^{Two thousand four hundred} -l dllll and E t!,rrl, -tr^,'lrlll,, ight y Si4,,only) i.e.,, I 's.r, .^' 'r.., 1.., l i;^t" i' '; i-:'.) a) a sum of R1:77,73,62 1/-^{with furtherinterest} @^{17.25% p.a with} !r!' ( q ., 0; _1:.;( " , monthly re*s:-from 19.It.2024 till^{the date of reallzation;}

¶26

(OA. No.43212024)

¶27

b) a sum of Rs.4,90,10,155/- withfurther interest @ t7.25o/o^p.a with monthly rests from 19.11.2024 till the date of realization;

¶28

c) a sum of Rs.2,13,88,710l- withfurther interest @ 9.25o/o^p.a with monthly rests From 19.7L.2024 till the date of realization; and in default for sale of hypothecated and mortgaged^properties as mentioned in the schedule "I to VI" to OA.

¶29

As per the averments in the application, the Applicant Bank states that defendant No.1 is the principal borrower and defendants no. 2 to 5 are its guarantors / mortgagors availed cash credit of Rs.225.00 lakhs and term loan of Rs.745.00 lakhs totalling a sum of Rs.970.00 lakhs vide letter of arrangement dated 08.03.2019. To secure due repayment of above facilities, defendant no.2 representing defendant no.1 executed agreement of loan cum hypothecation dated 08.03.2019. Defendants 2 to 5^jointly executed guarantee agreement and defendant no.1 hypothecated the stocks, receivables etc as mentioned in schedule property I. Defendant no.1 created mortgage and defendants No.2,3 & 5 executed memorandum for recording creation of mortgage by deposit of title deeds dated 79.04.2019. The loan facilities were renewed ie., cash credit of Rs. and term loan of Rs.745 lakhs vide letter of d',ery. r.[an9enl ldted 0,6,05.2021. After availing the loan facilities, the t :," riled to comply the terms of sanction, hence the 1 5 4PR 205 l pplica nt bank was co nstrained to classify the account as NPA and .^.'. c!

¶30

.. .,:,:,^. t.. ' '.^. i,_::, .

¶31

(oA.No.432 l2o24l

¶32

issued legal notice dated 07.LL.2024.^{Inspite of several requests} and demands, the defendants did^{not clear the outstanding.Hence} this OA.

¶33

Defendants called absent^{and set exparte on 28.02.2025.}

¶34

Sri SarojMishra, Manager of the^{Applicant Bank examined himself} as AW.1 and exhibited^{relevantdocuments,which are markedas} Ex.A.1 to A.26.

¶35

Heard the Ld. Counsel for the^{Applicant Bank.}

¶36

The^point that arise^{for consideration is whether the ApplicantBank is} entiged for the claim madeⁱⁿ the^{OA against the Defendantsas} prayed for?

¶37

Defendants remained exparte.^{To substantiatethe case of the} Applicant Bank, AW.1, official of^{the Applicant Bank was examined} and he exhibited relevant^{documents as Ex.A1 to A.26. In view of} the above, I hold that the^{Applicant Bank has established their claim} made in the OA against the^{Defendantsand hence the Applicant Bank} is entitled to recover the^{claim made in the OA with future interest}

¶38

,*";p e$^{"8,</sup> B. nt dA:iis allowed with^{costs, as under:} Iⁱ "'"' :, mt}

¶39

loA.No.a32/20241

¶40

The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.7,8L,72,486/- (Rupees Seven Crores Eighty one lakhs Seventy Two thousand four hundred and Eighty Six only) i.e.,

¶41

a) a sum of Rs.77,73,621l- with further interest @ 17.25o/o p.a from 19.11.2024 ill the date of realization ;

¶42

b) a sum of Rs.4,90,10,155/- withfurther interest @ 17.25olo p.a from 19.11.2024 till the date of realization;

¶43

c) a sum of Rs.2, 13,88,710l- withfurther interest @ 9.25olo p.a from 19.11.2024 ill the date of realization;

¶44

The Applicant bank is entitled to proceed against the hypothecated and mortgaged properties as mentioned in the schedule^..I to VI,, to OA towards realization of the debt due;

¶45

The Applicant Bank is also entitled to proceed against the person and properties of defendant No.2 to 5 and properties of defendant no.1 firm towards realization of the debt due.

¶46

The Applicant Bank is entitled to the costs of the OA.

¶47

memo within two weeks from the date

¶48

llPB 7-025

¶49

lo^{A.No.432120241}

¶50

Issue Recovery certificate accordingly.

¶51

Communicate a copy of the order to the parties concerned.

¶52

(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 15th day of Aerit,2025)

¶53

sd/(G. GOPTCHAND)

¶54

PRESIDING OFFICER

¶55

;,.tn

State Bank of India v. M/S. Alamelu Manga International Bakers Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S. Alamelu Manga International Bakers Pvt. Ltd.

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

State Bank of India versus M/S. Kalepu Shivaji Prasad

Idbi Bank versus Smt D Hymavathi Reddy

State Bank of India versus Sri. Boinpally Venkatesh

State Bank of India versus Namo Balaji Food Pvt. Ltd.

State Bank of India versus M/S. Sri Sai Honda

Canara Bank versus M/S. M.K.Foods