Allowed

State Bank of India v. Dheppu Internationals Private Limited

DRT19 Nov 2025OA/54/2022

Case brief

AI extract

What is this about?

The Tribunal allowed the original application filed by the bank for a recovery certificate against the borrower and guarantors. Since defendants appeared ex parte, evidence remained uncontroverted. The Tribunal reduced the interest rate to 8% simple per annum and directed execution against schedule properties.

What did the court decide?

Recovery Certificate issued allowing recovery of Rs. 11,23,04,729/- plus interest @8% p.a. from defendants jointly, severally and personally, also executable against schedule property.

State Bank of India versus Dheppu Internationals… — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA

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AT BENGALURU

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Dated this 19^th Day of November, 2025

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Present: Sri. T. RAJESH Presiding Officer

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OA.No.54/2022

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BETWEEN:

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State Bank of India, Represented by its Branch Manager, Susmita Sahoo, Sector 2 HSR Layout Branch, 484 27^th Main, 17^th Cross, 2^nd Sector HSR Layout, Bangalore.

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…APPLICANT

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AND:

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M/s. Dheppu Internationals Pvt Ltd (Borrower), Registered Office: Block #1, Sy No. 188, 189/1, 1^st Mile, Ramohalli Road, Garepalya Village, Kumbalagodu, Bangalore Rural- 560 077.

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Sri. Ravikumar Balakrishnan (Guarantor/ Mortgagor) S/o Sri. Balakrishnan P,

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Residing at: M 305 The Retreat by Mint Homes, Senthil Nagar, Savuripalayam Road. Coimbatore, Tamil Nadu- 641028.

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Sri Sree Deepack Ravikumar (Guarantor), S/o Ravikumar Balakrishnan P, Residing at: M 305 The Retreat by Mint Homes, Senthil Nagar, Savuripalayam Road, Coimbatore, Tamil Nadu- 641028. ...DEFENDANTS

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Counsel on record/appeared for:

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Applicant : R & J Associates Defendants : M. B. Rajashekar

OA 54/2022

FINAL ORDER

The present Original Application in short (OA) has been filed under section 19 of Recovery of Debts and Bankruptcy Act 1993 seeking issuance of Recovery Certificate against the defendants for Rs. 11,23,04,729/(Rupees Eleven Crore Twenty Three Lakh Four Thousand Seven Hundred Twenty Nine Only) with further interest thereon from the date of filing the Application till realization.

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It is the case of the applicant that the defendants availed cash credit of Rs. 5 crores and term loan of Rs. 5 crore 84 lakhs.

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It is also the case of the applicant that, in view of the above availed loans, the defendants executed necessary loan documents along with guarantee agreement and memorandum of recording creation of mortgage by depositing title deeds.

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It is further contended that, despite availing the credit facilities, agreeing to service the loan account promptly and regularly, the defendants failed in complying the same, resulting in default in repayment and consequentially turning the loan accounts as NPA.

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In the above circumstances, the applicant approached this Tribunal by filing this OA seeking issuance of Recovery Certificate for the amount due in the account.

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Despite, entering appearance the defendants failed to make a representation, called out, absent, hence placed exparte on 10.11.2025.

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OA 54/2022

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The applicant had let in evidence through AW-1, who filed Proof Affidavit reiterating the contentions taken in the OA and also produced Exhibits A-1 to A-6 and got the same marked in evidence.

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Heard the Ld. Counsel for the Applicant and considered the contentions as taken in the OA in the light of documentary evidence and proof affidavit.

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The following issues arise for consideration in this matter:

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i) Whether the applicant had succeeded in proving the OA claim as against the defendants?

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ii) What order are to be passed?

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Both these issues are gone into and decided together.

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The case put forth by the applicant in the Application remains unrebutted as defendants remained exparte. The evidence tendered by the applicant remains uncontroverted and undisputed. The evidences put forth by the applicant were found admissible and are sufficient to prove availment of credit facilities as stated in the OA, creation of the security

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interest and the defaults committed in the accounts. The liability of the defendants and the claim of the amount due are also proved by the above documents. The claim of the applicant is well within the limitation.

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Hence in view of the findings arrived herein above, the Tribunal

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find both these issues in favour of applicant and hence, this Tribunal is of

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OA 54/2022

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the view that OA is to be allowed.

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Taking into consideration the facts that the credit facilities are

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availed for Business purpose and also that the OA claim is arrived at by calculating interest at the agreed rate, this Tribunal in view of the OA can be allowed with a reduced interest of 8.00% (simple).

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In the result, OA.No.54/2022, stands allowed,

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i) The applicant is allowed to recovery an aggregate sum of Rs. 11,23,04,729/- (Rupees Eleven Crore Twenty Three Lakh Four Thousand

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Seven Hundred Twenty Nine Only) with further interest @8.00 % p.a.(simple) from the date of filing OA till the realization, from the defendants jointly, severally & personally, after giving credit to all the amount recovered and received during the pendency of the OA and allowed the same to be recovered by proceeding against the schedule property. Properties schedule to the OA be the schedule to the recovery certificate.

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ii) If the sale proceeds are not found sufficient to cover the

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amount due and payable to the applicant bank, the defendants jointly, severally & personally and their assets are liable for amounts due under the loan account.

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iii) The applicant bank is allowed cost of the proceedings which

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applicant to file cost memo within 7 days from the date of receipt of the

OA 54/2022

order.

iv) The Recovery Certificate to be drawn in terms of this order and

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transferred to Recovery for execution.

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v) Interim application pending, if any, stands disposed of in terms

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of this final order.

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Communicate a copy of the order to the parties concerned in terms

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of Section 19(21)(i) of the RDB Act, read with Rule 16 of DRT (Procedure)

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Rules, 1993.

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[Dictated to the Stenographer (AJ), transcribed by her, corrected and signed and pronounced by me in the Open Court, this the 19^th Day of November, 2025].

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Sd/- (T. RAJESH)

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PRESIDING OFFICER

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ANNEXURES

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WITNESSES EXAMINED FOR THE APPLICANT BANK:

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AW-1:M N Soma Sundar, Chief Manager, of Applicant Bank.

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Exhibits on the part of the Applicant:

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Exhibit Nos.	Date	Particulars of Documents
A1	21.10.2020	Letter of arrangement
A2	21.10.200	Loan cum hypothecation agreement
A3	21.10.2020	Guarantee agreement
A4	22.10.2022	Memorandum for recording creation of mortgage by deposit of title deeds
A5	--	Account statement
A6	--	Banker’s certificate

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OA 54/2022

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Witness Examined for the Defendants: List of Documents Exhibited for the Defendants:

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-Nil -

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-Nil -

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Sd/- (T. RAJESH)

State Bank of India v. Dheppu Internationals Private Limited

Case brief

What is this about?

What did the court decide?

State Bank of India v. Dheppu Internationals Private Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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Case details

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