Allowed

State Bank of India v. M/S.Gaied Scientific Enterprises Private Limited

DRT2 Jun 2025OA/591/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's original application for recovery of a disputed loan amount, holding the defendants jointly and severally liable based on evidence on record and directed the issuance of a recovery certificate.

What did the court decide?

Defendants liable to pay Rs.50,50,227/- with future interest; OA claim secured by hypothecation; bank entitled to proceed against persons/properties for realization; cost memo to be filed.

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

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IN THE DEBTS RECOVERY TRIBUNAL-II^{AT HYDERABAD}

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DATED THIS THE O2ND DAY OF JUNE,²⁰²⁵

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PRESENT: SH. RAMESHWAR^{KOTHE,B.COM.,L.LB. (HONS.),M.A.} PRESIDING OFFICER

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ORIGINAL APPLICATION No: 591^{OF 2024}

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State Bank of India., SME Balkampet Branch, At Royal Arcade, S R Nagar, Balkampet Road, Hyderabad - 500038. Rep. by its Authorized Signatory.

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....'Applicant.

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Versus

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M/s.Gaied Scientific Enterprises Private Limited., Rep by its Directors

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Mr.Kiran Kumar Dasi and Smt.Rajasri Dasi,

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Mr.Kiran Kumar Dasi, S/o.Ramchander Dasi, Aged about 41 Years, Occ: Business, Male.

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Smt. Rajasri Dasi, W/o.Kiran Kumar Dasi, Aged about 41 Years, Occ: Business, Female.

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All are R.esidents of

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Add: 2l/P, CIE IDPL Gandhinagar, Balanagar, Hyderabad, Telangana - 500037.

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Also at: -

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R/o. H.No.4-35-373/2, Venkateshwara Nagar, Opp Nagarjuna School, Kukatpally, Hyderabad - 500072.

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Also at:-

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R/o. H.No.4-32-264,2nd Floor, Phase I, Near IDFC ATM, Allwyn Colony, Kukatpally, Hyderabad - 500072.

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...Defendants

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Counsel for the Applicant : Ms. Tarangini Pisipati

,.^.':

oA.NO.591/2024

:: qLLE& ::

The Applicant Bank filed the^present OA for the recovery a total sum of Rs.50,50,227/- as on 21.11.2024 under Loan A/c. No.40628876089 from the defendants^jointly and severally with future interest @12.400/0 p.a. with monthly rests from 07.11.2024 till the date of realization along with costs and in default for sale of hypothecated assets.

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Summons served on D1 to 3 through^{paper publication.} They were set ex-parte on 01.05.2025 as called absent and no representation.

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The Applicant Bank examined Kalyani Rathod, Manager, as AWl and marked 14 documents through her as Ex. A.1 to Ex. A.14.

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Ld. Counsel for the Applicant Bank reported orders may be passed through merits. Perused the material^placed on record.

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The point that arises for consideration^is:-

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Whether the Applicant Bank^is entitled for the claim made in the OA against the Defendants and OA hypothecated assets ?

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As stated supra, the^{Defendants remained ex-parte. The} Evidence Affidavit coupled with^{the recitalsin the documents} viz., Exs. A.1 to A.14^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 futureinterest} and costs.

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oA.NO.591/2024

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In the result, the^present Original^{Application No.59L/2024} allowed as under:^-

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i) The Defendants are^jointly and^severally liable to^pay to the Applicant^{Bank a sum of} Rs.50,50,227l- as on 21.11.2024^underLoan A/c.No.40628876089 with future^interest @7.90o/o^{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} hypothecation of assets described^{in the} schedule annexed to the OA^{and the} applicant bank is entitled to^{proceed against} the same to realise its debt;

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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 entitledfor the costs.}

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B. The Applicant Bank is directed^{to file Cost Memo within2 weeks} from the date of receipt^{of this Order'}

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q Issue Recovery Certificate^accordingly.

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Communicate a copy^{of this order to the parties concerned'} (Dictated to the steno, corrected,^{signedand pronounced by me in the open court on} thisthe02"dDayof rune,2025).

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AXU* /^{// il!"}

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(CATftsHWAR KorHE) PRESIDING OFFICER

State Bank of India v. M/S.Gaied Scientific Enterprises Private Limited

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S.Gaied Scientific Enterprises Private Limited

Case brief

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What did the court decide?

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