The Debts Recovery Tribunal allowed the Originating Application filed by State Bank of India for recovery of Rs. 34,87,128.00 from a partnership firm and its guarantors who defaulted on a term loan facility secured by hypothecated movables.
Defendants to pay Rs. 34,87,128.00 with future interest at 14.75% p.a.; Issuance of Recovery Certificate.
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IN THE DEBTS RECOVERY TRIBUNAL -IAT HYDERABAD DATED THIS THE loth DAY OF AUGUST,2026
PRESENT: SRI GUMMADI GOPICHAND,PRESIDING OFFICER
OA. No. 201OF 2026
Between :
State Bank of lndia, Gadderagadi Branch, 1 -45l3Bl 1 I N 1, Gadderagadi, Mancherial District- 504301 Represented by its Chief Manager
Applicant
VERSUS
(oA. No. 201/2026)
Defendants
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(oA. No. 201/2026)
Counsel for the parties :
| ForTheApplicant | Sri.P.V. Satyanarayana |
|---|---|
| Forthe Defendantno.1 | Exparte |
| Forthe Defendantsno.1to6 | Sri. G.MadhusudhanReddy |
| Reservedon | 04.08.2026 |
| Pronouncedon | 10.08.2026 |
| Uploadinwebsiteon | 11.08.2026 |
ORDER
As per the averments in the application, the Applicant Bank states that Defendant no 1 is a Partnership Firm represented by its managing partners availed Term Loan facility of Rs.49,00,0001 81. ly installments of Rs.90,515/- with interest aa necessary loan documents such cum Hypothecation dated 28.02.2023 in j' f'f"[0E"htf
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(oA. No. 201/2025)
favor of the Applicant Bank. The Defendants No. 1 to 6 stood as a Guarantor and executed Guarantee agreement dated 28.02.2023 in favor of the Applicant Bank. The Defendants Hypothecated Movables morefully mentioned in Schedule of property to OA and executed Agreement of Loan cum Hypothecation dated 28.02.2023 in favor of the Applicant Bank. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NPA on 08.09.2025 and issue Legal Notice dated 04.01.2025 and 11.12.2025 to the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.
(oA. No. 201/2025)
Defendants remained exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited relevant documents as Ex.A.1 to 4.6. ln view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants and hence the Applicant Bank is entifled to recover the claim made in the OA with future interest and costs.
The Defendants no. 1 to 6 are joinfly and severally liable to pay to the Applicant Bank a total sum of Rs.34,g7,12g.00 ps. (Rupees Thirty Four Lakhs Eighty Seven Thousand One Hundred and Twenty Eight Only) with future rate of interest @14.75o/op.a from the date of this application till the date of realization.
entitled to proceed against the as mentioned in the Schedule of OA realization of the debt due. 0 .ile,foc
(oA. No. 201l2025)
(Dictated to the P.A., transqibed by her, corrected, signed and pronounced by me in the open court on this the 10h day ofAug, 2026)
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2 issues framed by the court
Whether the applicant bank is entitled to recover the claim and costs made in the originating application against the defendants?
Whether the defendants including the guarantors are liable to pay the outstanding sum with future interest?
State Bank of India, Gadderagadi Branch
M/s. Mayuri Hospital
Sri. Jangapelli Ashok Kumar
Smt. Jangapelli Saritha
Sri. Jangapelli Anurag
Sri. Chinthapuri Chandra Mouli
Gummadi Gopichand
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
