Allowed

Bank of Maharashtra v. M/S. Sai Computers

DRT27 Mar 2025OA/445/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the original application filed by Bank of Maharashtra for recovery of Rs. 92.19 lakhs. The court found the defendants liable to pay the principal amount along with future interest at 18% p.a. and authorized proceeding against mortgaged and un-mortgaged properties for debt realization.

What did the court decide?

Defendants given 24 days to pay Rs. 92,19,232.92 with 18% interest; authority to proceed against mortgaged and personal properties; recovery certificate issued.

Bank of Maharashtra versus M/S. Sai Computers — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.I AT HYDERABAD

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DATED THrS THE 27fH DAy OF MARCH, 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.445 of 2024

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Between:

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Bank of Maharashtra, Kothapet branch, Hyderabad, Telangana state. Represented by its Manager

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Applicant

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VERSUS

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M/s. Sai Computers, Rep by its partners Sama Pawankumar and Sama Radhika, D.No.13/A, Chenoy Trade centre, Secunderabad - 500 003.

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Mr. SamaPawankumar, s/o Samalaganatham, aged 45, occ: business, H.No. 11-13-t296, Plot no. 15, Road no.2, vasavi colony, Near Ashtalaxmi temple, Kothapet, Hyderabad - 500 035.

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Ms. Sama Radhika, D/o Samalaganatham, aged 45, occ: business, H.No, 1 1-13-1296, Plot no. 15, Road no.2, vasavi colony, Near Ashtalaxmi temple, Kothapet, Hyderabad - 500 035.

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Mr. Samalanatham, s/o Late SamaVaikuntam, aged 74, occ: business, H.No. 1 1-13-L296, Plot no. 15, Road no.2, vasavi colony,

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(OA.No.aa5l202a)

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Near Ashtalaxmi temple, Kothapet, Hyderabad - 500 035.

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Ms. SamaRajamani, d/o SamaJaganatham, aged 46, occ: business, H.No. 1 1-13-1296, Plot no. 15, Road no.2, vasavi colony, Near Ashtalaxmi temple, Kothapet, Hyderabad - 500 035.

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Defendants

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Counsel for the Parties: For the Applicant Sri G. Adrian Kiran Raj For the Defendants Exparte

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ORDER

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The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.92,19,232.92ps (Rupees Ninety Two Lakhs Nineteen Thousand Two hundred Thirty Two and paise Ninety Seven only) with future interest @ 18o/o p.a with monthly rests from 78.1t.2024 till the date of realization and in default for sale of mortgaged properties as described in the schedule"l to 4" to OA.

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As per the averments in the application, the Applicant Bank states t no.1 is borrower/ company and defendants 2 and 3 defendants 4 to 6 stood as guarantors After

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A!, 65 2 availirid' the loan lity, the defendants failed to comply the terms of

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r ?I itAfl

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d e_ Sariction. sanction, hen< applicant bank was constrained to classify the fto- ,*'-d!

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(oA.No.445 120241

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account as NpA on 29.06.2024 and issued legal notice dated 10.10.2024. Inspite oF several requests and demands, the defendants did not clear the outstanding. Hence this oA.

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Defendants called absent and set exparte on 03.03.2025.

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Sri Aditi Pandey, Manager of the Applicant Bank examined himself as AW.1 and exhibited rerevant documents, which are marked as Ex.A. L to A.47.

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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 Defendants as prayed for?

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Defendants remained exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Appricant Bank was examined and he exhibited relevant documents as Ex.A1 to A.47. 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 Applicant Bank is entitled to recover the claim made in the OA with future interest

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(oA. No.445/2024)

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B. In the result, the present OA is allowed with costs, as under:

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The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.92,1g,232.glps (Rupees Ninety Two Lakhs Nineteen Thousand Two hundred Thirty Two and paise Ninety Seven only) with Future interest @ 18% p.afrom lB.1l.2o24till the date of realization.

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The Applicant bank is entitled to proceed against the mortgaged properties as described in schedule " 1 to 4,, to OA towards realization of the debt due.

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

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The Applicant Bank is entifled 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 court on
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//$
/lF sd/_
ffi
* (G. GOPTCHAND)

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sd/_ (G. GOPTCHAND) PRESIDING OFFICER

Bank of Maharashtra v. M/S. Sai Computers

Case brief

What is this about?

What did the court decide?

Bank of Maharashtra v. M/S. Sai Computers

Case brief

What is this about?

What did the court decide?

What the court decided

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