Allowed

State Bank of India v. M/S. Sai Global Yarntex (India) Private Limited

DRT8 Sept 2025OA/556/2024

Case brief

AI extract

What is this about?

In this Original Application, SBI and another bank claimed recovery of nearly Rs. 31 crore along with future interest and costs from multiple debtors and their guarantors. The defendants, served with summons, did not appear. The Tribunal held that the evidence filed by the banks clinched the claim and allowed the application, imposing joint and several liability on the respondents and directing is

What did the court decide?

Allowed the OA, directed defendants to pay Rs. 31,10,05,621.30 with future interest, held mortgage valid, and directed issuance of Recovery Certificate.

State Bank of India versus M/S. Sai Global Yarntex… — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE OSTH DAY OF SEPTEMBER, 2025

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

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ORIGINAL APPLICAT]ON No: 556 oF 2024

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State Bank of India., Stressed Assets Management Bra nch_l Secunderabad, D. No, 5-9_76, 2.d Floor,^prabhat Towers, Chapel Road O,pp. SBI Amaravathi LHO, Gunioundry Abids, Hydera bad _ 5O0OOt. Rep by its Assistant General Manager.

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India n Bank., Mid-Corporate Branch At D.No.10-1-1, First Lane

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Sambasivapet, Naaz Centre, Guntur_ 522001. Rep by its Assistant General Manager SBt,

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.....Apptica nt.

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Versus

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M/s.Sai Globat yarntex(India) pvt Ltd., Rep by Director Sri Malepati t4ohan Venkata Srinivasa Rao, Regd. Offlptant Beside NH-5, Vellampa i, tvaddipadu Prakasam District, A.p - 5232t7.

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Sri Malepati Mohana Venkata Srinivasa Rao S/o.Sri M.Mukkanti, D. No.7-4- 1/3 Flat No.S2,3.d Floor, Sai Residency Beside SSN JR College, Ongote Lawyerpeta, Ongole - S23OO2 Prakasam District, A.p.

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Sri Motakatla Chakrapani Reddy S/o. Sri Nasara Reddy, 7-235 Reven ue Colony,3.d Line, lvlanagamoor Road, Opp Sujathanagar, 10rh Line Ongole - 523002,^prakasam Dist, fu"*A.p.

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oA.NO.5s6/2024

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Sri Desu^{Srinivasa Rao} S/o.Sri Venkateswarlu(Late) Door No.20-6-20l6,^{Seven Bulldings} Comolex, Iswarya^{Nagar, Anjaiah} noad, onqote -^{523001,PrakasamDisi, A P'} Sri Desu^Subramanyam S/o.Sri Venkateswarlu(Late) Door No.20-6-20l6,^{IswaryaNagar, Anjaiah} Road, Ongole -^{523001,PrakasamDist, A'P'}

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Sri Garlapati^{BadariNarayana} S/o.Anjaneyulu,^{Flat No.505, 506} Vasundhara^{Orchids, NearGanganamma} Temple, GollaPudi,^A.P -^527225'

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Sri Ganta^{VenugoPalReddy} S/o. Mahandha^{Reddy, D'No'8-467/2} Nirmal Nagar,^{Near Park, Ongole-523001} Prakasam^{Dist, A.P.}

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Sri Desu^{Teja, S/o.Sri.Desu Kasi} Viswanadham,^D.No.20-6-30 Iswarya^{Nagar, AnjaiahRoad} Ongole - 523001,^{Prakasam Dist, A P'}

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Smt.MalePati^{Devi Sushma} D/o.Sri Mohana^{Venkata SrinivasaRao} 7-4-f B, Flat^{No.S2,3'd Floor, Sai} Residency^{BesideSSN JR college, ongole} Lawyerpeta, Ongole -⁵²³⁰⁰² Prakasam^{Dist, A.P.}

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Smt. Ganta^{Madhavi,W/o. Sri.Ven ugopal} Reddy , 74-2-18,^{Flat No.105,BlockA} Vertex Siris Signa,^{Slris Back Side Road} Near Commercial^{Tax Office, Ayyappa} Nagar, Vijayawada - 520007,^A.P.

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Sri Desu Veera^PrakasaRao S/o. Sri Venkateswarlu^(Late) House No.20-6-2013,^{Anjaiah Road} Ongole - 523001, Prakasam^Dist,A.P.

,Ayr-,.* ,:/ -or"'

oA.NO.s56/2024

Sri Desu Kasi Viswanadh S/o.Sri Venkateswarlu, D.No.20_6_30 rswarya Nagar, Anjaiah Road Ongole - 523001, prakasam Dist, A.p.

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... Defendants

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Counsel for the Applicant Defendants

: Mr.M.Sunil Kumar

: Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.31,10,05,621.30ps from the defendants joinuy and severally with future interest @11.60olo p.a, (including penat interest) from the date of application till the date of reatization along wlth costs and in default for sale oF OA schedule propertles.

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Summons served on D1 to 12. They were set ex-parte on 03.03.2025 as called absent and no representation.

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The Applicant Bank examined Kothuri Ravi Kumar, Chief

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Manager, as AW-1 and marked 171 documents through him as Ex. A.1 to Ex. A.171.

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Heard the Ld, Counsel for the Applicant Bank. perused the materia I placed on record.

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The point that arises for consideration is:-

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Whether the Appticant Bank is entiued for the claim made in the OA against the Defendants and OA schedule properties? fu**

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oA.NO.5s6/2024

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As stated^{supra, the Defendants remained ex-parte'The} Evidence^{Affidavitcoupledwith the recitalsin the documents} ,,r., ,"r.^{A.1 to A.171 marked on behalfof the ApplicantBank} clinchestheclaimoftheApplicantBankagainsttheDefendants. Hence, I^{hold that the Defendants are jointly and severally liable} to^pay the^{OA claimto the Applicant Bank with futureinterest} and costs.

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In the result,^{the present Original ApPlicationNo 556/2024is} allowed^{as under: -}

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The Defendants^{are jointly and severally}

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i) liable to^{pay to the Applicant Bank a sum of} Rs.31,10,05,621.30ps^{with future interest} @11.60%^{p.a. simple from the date of} application^{till the date of realization;}

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the OA claim^{is secured by way of mortgage}

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ii) of^{properties described in the schedule} annexed to^{the OA and the aPplicant bankis} entitled to^{proceed againstthe same to} realise its debt;

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iii) the applicant^{bank is also entitledto proceed} against the^{person and properties of} defendants for^{realization of its dues;}

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iv) the applicant^{bankis entitled for the costs'}

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The Applicant^{Bankis directed to file Cost Memo within 2 weeks} from the date of^{receiptor this orderfu$x9}

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oA.No.ss6/2024

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Issue Recovery Certificate according ly.

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crcm.municate a copy of this order to the parties concerned. (Dictated to the steno. corrected, _signed^{.no p.-r".Jo-b,i"," ,n" open court} on this the 08th Day of September, 2025).

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,zV\t*- ^r, / (/kdx$-

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lnrdrsHWnn KorHE) PRESIDING OFFICER

State Bank of India v. M/S. Sai Global Yarntex (India) Private Limited

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S. Sai Global Yarntex (India) Private Limited

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

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