Allowed

State Bank of India v. Ms Ramit Tiles and Anr.

DRT27 Jan 2025TA/1048/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by State Bank of India under Section 19 of the RDB Act against M/s Ramit Tiles and Mr. Rakesh Sikri. The court noted the defendants were absent, the bank's evidence was unchallenged, and directed payment of the outstanding sum with interest.

What did the court decide?

Respondents directed to pay Rs. 10,36,012.97 plus interest @ 12.75% p.a. within 30 days; Recovery Certificate issued; recovery from hypothecated or personal assets if default persists.

State Bank of India versus Ms Ramit Tiles and Anr. — Banking and Recovery | DRT (2025)

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Before SUSHIL KUMAR RASTOGI, Presiding Officer Debts Recovery Tribunal-Il, Delhi

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TA No.1048 OF 2023

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STATE BANK OF INDIA VS M/S^{RAMITTILESAND ANR}

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Reserved on z L6.LO.2O24

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Pronounced on t 27.OL.2O25

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State Bank of India (Erstuvhile State Bank of Patiala)

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-^Applicant

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Vs.

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M/s Ramit Tiles

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Mr. Rakesh Sikri

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Defendants

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Present: Mr. Shiv K. Tyagi, Counsel^appearsfor applicant bank. Defendants are expafte, since^15'01.2019.

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FINAL ORDER

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This original application has been^{filed by the} applicant bank, on 29.01.2018^{throughShri S'K} Dwivedi, Chief Manager &^{Principal Officer of the} applicant bank, under^{Section 19 of the Recoveryof} Debts and Bankruptcy Act,^{1993 against the defendant} nos.1 to 2 for recovery of a^{sum of Rs.10,36,012'97} together with cost, charges and^{pendentelliteand} future interest @14.9olo^p.a. from^{date of filing of this} O.A. till the realization^{in full.}

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The brief facts of the case are that^{at the request} of the defendant no.l,^{proprietorshipconcern of} defendant no.2, the applicant^{bank sanctioned, a Cash} Credit (Hypo) Facility of^{Rs.10.00 lacs vide sanction} letter dated 01.11.2014 for working^capital requirements, against hypothecation of^stocks,books debts & other current assets and^{relevantdocuments} were executed by the defendants in favour of^the -^.,,_,/

TANO. 1048/2023

17.r0.20t4

on 11.11.2014,

applicant bank and 10.11.2014.

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It is further submitted^{that the defendants} enjoyed and utilized the^{Loan facility, but failed to} maintain the financial discipline^{and failed to repay the} due amounts. The applicant^{bank requested the} defendants to regularize the^{loan accountby visits and} letters, but there was no^{response from the} defendants, hence the account^{was classified as NPA} on 14.03.2017 Therefore, the^{applicant bank serveda} legal notice dated 23.09.2017 to the^defendants, demanding the amount due as^{on that date, but failed} to recover the same. Thus, the^{present O.MA is} preferred by the applicant bank to recover its dues.

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On notice by this Tribunal, the defendants^failed to put appearance at all, despite^{service, accordingly,} defendants were^proceeded against^{exparte on} 15.01.2019.

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The applicant bank has filed^{its evidenceby way} of affidavit of Shri Balwan Singh,^Manager of^the applicant bank as Annexure A-1 to Annexure^A-15 which have gone unchallenged and^un-rebutted. Hence, the case of the applicant bank stands^fully established against the defendants with^respect to^non- payment of EMI/ outstanding amount.

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After^perusing the records, this Tribunal^{is of} the view that the applicant bank has^proved its^case beyond reasonable doubts. The documents^and e)

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TA NO. 1048t2023 3

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evidence Rled by the applicant bank not rebutted by the defendants by not placing any evidence and there is no guestion of disbelieving the evidence filed by the applicant bank based upon the written/printed documents.

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In the light of the above discussions, the present TA deserues to be allowed.

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ORDER

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I hereby allow this T.A. of the Applicant Bank and direct the defendant nos. 1 to 2 to pay jointly and severally to the applicant bank within 30 days from today, a sum of Rs.10,36,012.97 along with cost, expenses and interest @ 12.75o/o from the date of filing of this O.A which has become TA till the date of realization.

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In case of failure to deposit the above amount within the stipulated period, the same shall be recovered from the sale of hypothecated goods & stocks lying atA-7, Extension, D.K. Road, Uttam Nagar, New Delhi-l10059. In case of short fall, the same shall be recovered from the sale of personal movable and immovable assets of the defendant nos. 1 to 2.

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Recovery Certificate be issued forthwith and be sent to Recovery Officer, Debts Recovery Tribunal-Il, Delhi.

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The registry of this Tribunal is hereby directed to issue free copy of the order and send the same to both the parties.

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J.\

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TANO. 1048t2023 4

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Parties are direct to appear before the Ld. Recovery Officer, DRT-II, Delhion 24.03.2025. pending IAs, if any, stand disposed of.

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File be consigned to records.

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/-'^- I S t'z^' d-\

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Date:27.01.2025

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(susHrl KUMAR iUSrOCr) PRESIDING OFFICER DRT-II, Delhi

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This judgement has been signed, dated and pronounced in open court.

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i s'<sup>-?

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Date : 27.01.2025

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(susHrl KUMAR RASTOGT) PRESIDING OFFICER DRT-II, Delhi

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State Bank of India v. Ms Ramit Tiles and Anr.

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State Bank of India v. Ms Ramit Tiles and Anr.

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