Allowed

State Bank of India v. Ms Maan Rolling Mills Pvt. Ltd. and Ors.

DRT29 Sept 2025TA/1980/2022

Case brief

AI extract

What is this about?

DRT-II allowed the applicant bank's original application for recovery of dues. The defendants failed to repay sanctioned credit and term loans. The order directed payment of principal and interest, with recourse to mortgaged and personal assets, limiting LRs' liability to inherited property.

What did the court decide?

Direct defendants to pay Rs.68,94,861.17 (CC) + interest @18.25% and Rs.1,05,90,577.56 (TL) + interest @16.15%. Recovery to be effected via sale of mortgaged properties or personal assets.

State Bank of India versus Ms Maan Rolling Mills Pvt. Ltd… — Execution and Attachment | DRT (2025)

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

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TAI!98O12022

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STATE BANK OF INDIA VS M/S MAAN^{ROLLING MILTS} PvT LTD & ORS.

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Reserued on : 25.08.2025 Pronounced on : 29.09.2025

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State Bank of India

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Applicant bank

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Vs.

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M/s Maan Rolling Mills hrt^Ltd

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Sh. Salauddin

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Smt. Tayeba Wo^{Late. Sh. Rakmuddin}

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Sh. Mehmood S/o.^{Late. Sh. Rakmuddin}

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Smt. Sakra^{D/o Late. Sh. Rakmuddin}

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Smt. Amren^{D/o Late. Sh. Rakmuddin}

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Smt. Raheen^{D/o Late' Sh. Rakmuddin}

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Master Mehtab^{S/o. Late. Sh' Rakmuddin}

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Sh. Ajay Agarwal

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^Defendants

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Present: Ms.^{Madhumeet Kapoor, Counsel appears} for aPPlicant bank. Defendants are^{exparte dated06'05'2024'}

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FINAL ORDER

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This original application^{has been flled by the} applicant bank,^{on tll2.21l7 throughSh' Trilok} Chand Tanwar,^{Chief Manager of the applicantbank,} under Section^{19 of the RDB Act, 1993 against the} defendants for^{recovery of a sum of Rs'68,94,861'17} along with^{pendentelite and future interest@ 18'25o/o} p.a. without capitalization^{from the date of this} 4.,,

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TANO/198012022 2

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application till realization in full as regards Cash Credit account no.65113644300 along with other charges and other debits made in the account in terms of^{the credit} facilities granted to the defendants and Rs.1,05,90,577.56 along with^pendentelite and future interest @16.15olo^p.a. from the date of^{this application} till realization in full as regards Term^{Loan account} no.65100976767 along with other debits^{made in the} account in term of the credit^{facilitiesgranted to the} defendants.

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The brief facts of^{the caseare that at the request} of defendant no.1 through^{its directors, the applicant} bank sanctioned a^{CreditFacility and TermLoan for an} aggregate amount of^{Rs.85 lakhs (Cash Credit Limit of} Rs.30 lakhs & Term^{Loan of Rs.55 lakhs),vide its} arrangement^{letter dated22.71.2010 on the termsand} condition set out. It^{is submitted pursuant to sanction} of said credit^{facilitiesby the erstwhileState Bank of} Patiala to the defendants^{and the erstwhile StateBank} of Patiala entered^{into an Agreementfor Loan-cum-} Hypothecation for the^{said credit facility dated} 22.tt,2}t} setting^{out the terms and conditionsof the} sanction of the^{said credit facility. In order to further} secure the said^{sanction of the Credit Facility by the} erstwhile State^{Bank of Patiala,the defendantnos'2,3} and 4 in their^{personal and individual capacityextended} personal guarantee and^{executed aguarantee} agreement dated^{22'11'2010' The defendantno'2} created equitable^{mortgage over the propertyby} deposit of the title^{deedswith the erstwhile StateBank} of Patiala with^intentionto jfate^{charge thereon} q)

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TA NO/1980/2022 3

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comprising properties i.e., (a). Industrial Property at Khasra No.472 (0.478 Hectare) & 466^(0.051 Hectare), Village Dhandhera, Pargana Tehsil &^Distt. Muzaffarnagar-UP in the name of defendant^{no.2. (b).} Residential Property bearing Khasra no. 384^{m, Village} Dhandhera Distt. Muzaffarnagar-UP in the name of defendant no.2. With the above moftgage^createin favour of the bank, the aforesaid^{propertiesbecame} specifically liable for sale^{for realizationof the mortgage} consideration. The defendant^{no.2 also executedletter} of confirmation for^{creation of mortgage by deposit of} title deeds vide dated^{23.11.2010for the respective} properties. The defendant no.2 on dated^19'11.2010 executed a lease deed, for^{property (a) state above,in} favour of defendant^{no.1. The defendant nos.2,3 and 4} being directors of^{the defendant no.1 for all lease hold} rights executed the letter^{of confirmationfor creation} of moftgage by^{deposit of title deeds vide dated} 23,11.2010 for^{property no. (a). It is submiftedthat the} memorandum for^{recordingcreation of mortgageby} deposit of title deeds^{for both propertiesgot executed} on 22.Lt.2OtO. It is^{submitted that during the} pendency of the O.A, the defendant^no.3/Sh' Rakmuddin was died^{and the LRs of deceased defendant} no.3/ Sh. Rakmuddin^{were impleaded in the present OA'}

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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 requestedthe} defendants to^{regularize the loan accountby visitsand} letters, but there^was _no:response^{from the} s)

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TANOll980l2022⁴

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defendants, hence^{the account was classifiedas} NPA dated 29.12.20L2.^{Therefore,the applicantbank} served a demand notice^{dated 28.05'2013 to the} defendants but^{failed to recover the same Thus, the} present O.Afl-A is^preferred by the^{applicant bank to} recover its dues.

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On notice by^{this Tribunal, the defendantnos' 3} to 9^put appearance^{through counsel' The defendant} no.3 has filed^{written statement but failed to file} evidence. Thereafter,^{the defendantsfailed to put} appearance^{in the matter. Accordingly,the defendants} were^{proceeded against exaprte on 06'05'2024'}

¶30

The^{applicant bank has filed documents as Paper} No-01 to Paper^{No-153 which have gone unchallenged} and un-rebutted.^{Hence,the case ofthe applicant bank} stands fully^{established againstthe defendants with} respect to^{nonpaymentof outstanding amount'}

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After^{perusing the records, this Tribunalis of the} view that the^{applicant bank has provedits case} beyond^{reasonabledoubts' The documentsfiled by the} applicant^{bank not rebutted by the defendants by not} placing any evidence^{and there is no question of} disbelieving^{the documentsfiled by the applicant bank} based upon^{the written/printeddocuments'}

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In the light^{of the above discussions, the presentT'A'} deserves to be allowed ,{"

TA NO/1980/2022

ORDER

I hereby allow^{this T'A. of the ApplicantBank and} direct the defendant^{nos. 1 to 9 to pay jointly and} severally to the applicant^{bank within 30 days from} today, a sum of^{Rs'68,94,861.17along with} pendentelite and future^interest @^{18.25% p.a' in Cash} Credit account and^{Rs'1,05,90,577.56 along with} pendentelite and future^interest @16'15o/o^{p'a' in term} loan account from^{the date of flling of this O'A which} has become^{TA till the date of realization' However, the} liability of^{LRs of deceasedSh. Rakmuddinis limited to} the extent of^{property/assetsinherited by them from} deceased Sh.^Rakmuddin'

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1. In case^{of failure to deposit the above amount} within the stipulated^{period, the same shall be} recovered from^{the sale of the mortgaged propefties} bearing no^{(a). Industrial Property at Khasra No'472} (0.478 Hectare) &^{466 (0'051 Hectare),Village} Dhandhera,^{ParganaTehsil & Distt' Muzaffarnagar-UP} (b). Residential^{Propefi bearing Khasra no' 384 m'} Village Dhandhera^{Distt' Muzaffarnagar-UP'In case of} short fall,^{the sameshall be recovered from the sale of} personal movable and^{immovableassets of the} defendant^{nos'1to 9.}

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1. Recovery^{Certificate be issuedforthwith and be} sent to^{Recovery Officer,Debts Recovery Tribunal-Il'} Delhi. c)

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TA NO/1980/2022 6

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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^pafties.

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Pafties are direct to appear^{before the Ld.} Recovery Officer, DRT-II, Delhi on^{01.12.2025.Pending} IAs, if any, stand disposed of.

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File be consigned to records.

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Date: 29.09.2025

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(SUSHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, DCIhi

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

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a\ >-r.

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Date :29.09.2025

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(SUSHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, DCIhi

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State Bank of India v. Ms Maan Rolling Mills Pvt. Ltd. and Ors.

Case brief

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State Bank of India v. Ms Maan Rolling Mills Pvt. Ltd. and Ors.

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