Allowed

State Bank of India v. M/S S. R. Chemicals

DRT15 Dec 2025OA/569/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by the State Bank of India for recovery of a total sum of Rs. 1.57 crore along with future interest and costs against borrowers and guarantors who remained ex-parte. The order granted a recovery certificate and directed the bank to file a cost memo.

What did the court decide?

Defendants held jointly and severally liable to pay principal, future interest, and costs; recovery certificate issued; directions to proceed against secured and personal properties.

State Bank of India versus M/S S. R. Chemicals — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE 15T8 DAY OF DECEMBER, 2025

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PRESENT: SH. RAIVIESHWAR KOTHE, B.Com., L.LB. (Hons.), IVI.A, PRESIDING OFFICER

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ORIGINAL APPLICATION No: 569 OF 2024

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M/s. State Bank of India., SARB, D.No.54-20-1B/3FlU6, 3'd Floor Upstairs of KFC, Suryaprakash Square Gurunanak Nagar Road, NTR District Vijayawada, Andhra Pradesh - 520008. Rep. by its Chief Manager.

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.....Applicant.

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Versus

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M/s. S R Chemicals., Rep by its Prop. Sri Basapati Sreenivasulu Regd Office D.No.2/6261t6, Sai Kutter Near Housing Board Office, Plot No.07 Teachers Colony, Srinivas Nagar, AAS College Road, Adoni, Kurnool Andhra Pradesh - 518302.

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Unit at:^-

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Plot No.28, Rajanagar, Opp. Durga Yemmiganur Road, Adoni, Kurnool And hra Pradesh - 518302.

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Also at:-

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Sal Vastav Estate, Plot No.3 & 8 Survey No.69/3 & 4, Near Salbaba Ashram Baichigeri, Adoni, Kurnool, Andhra Pradesh.

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Sri Basapati Sreenivasu lu S/o. B. Laksh minarayana, Aged 50 Years Occ: Business, D.No.21626/16, Sai Kutter Near Housing Board Office, Plot No.07 Teachers Colony, Srinivas Nagar, AAS College Road, Adoni, Kurnool Andhra Pradesh - 5 t8302.,-nlrt!{._,,:.r,,. //.^. 't't/

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oA.NO.569/2024

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Also at:Sai Vastav Estate,^plot No.3 & 8 Survey No.69/3 & 4, Near Saibaba Ashram Baichigeri, Adoni, Kurnool, Andhra pradesh.

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Smt. Basapati Shoharani, Wo. Sri Basapati Sreen ivasulu, Aged 50^years Occ: Housewife, D.No.2/6261t6, Sai Kutter Near Housing Board Office,^plot No.07 Teachers Colony, Srinivas Nagar, AAS College Road, Adoni, Kurnool Andhra Pradesh - 518302.

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Also at:-

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Sai Vastav Estate, Plot No.3 & 8 Survey No.69/3 & 4, Near Saibaba Ashram Baichigeri, Adoni, Kurnool, Andhra pradesh.

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... Defendants

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Counsel for the Applicant : Smt. B. Savitri Defendants :Ex-parte

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:Ex-parte

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:: oRDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,57,08,101.55ps i.e., a sum of Rs.t,2O,7g,g77.23ps towards Cash Credit A/c. No.379297lO4O2 with future interest @12.25o/o p.a., a sum of Rs.10,69,420.98ps towards GECL A/c. No.39510864452 with future interest @9.25% p.a. and a sum of Rs.25,59,703.34ps towards New GECL A/c. No.40658925271 with future interest @9.25olo p.a. from the defendants jointly and severally with monthly rests and penal interest @2o/o p.a. from the date of application till the date of realization along with costs and in default for sale of OA schedute properties. ,/ lt+,

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oA.NO.569/2024

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Summons served on Dl to 3. They were set ex-parte on 12.06.2025 as called absent and no representation.

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The Applicant Bank examined K.S. R Chandra Murthy, Legal Manager, as AW-1 and marked 30 documents through him as Ex. A.1 to Ex. A.30.

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Heard the Ld. Counsel for the Applicant Bank. Perused the material placed on record.

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The point that arises for consideration ls:-

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA schedule properties?

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.30 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.569/2024 is allowed as under:^-

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.1,57,08,101.55ps i.e., a sum of Rs.L,20,78,977.23ps towards Cash Credit Alc.No.379297 t04O2, a sum of Ary*u

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oA.NO.s6912024

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Rs.10,69,420.98ps towards GECL A/c. No.39510864452 and a sum of Rs.25,59,703.34ps towards New GECL A/c. No.40658925271t wilh future interest @9.700lo^p.a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of mortgage of properties described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debu

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iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entitled for the costs.

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The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of thls Order.

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lssue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 15'\ Day of December, 202s).

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/ A\a^{r// '\9'\-} -rur, (RA{ESHWAR KoTHE) PRESIDING OFFICER

State Bank of India v. M/S S. R. Chemicals

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S S. R. Chemicals

Case brief

What is this about?

What did the court decide?

What the court decided

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