Debts Recovery Tribunals and Appellate Tribunals
STATE BANK OF INDIA vs Shivashankar Rao on 31 January 2023
IN THE DEBTS RECOVERY TRIBUNAL . I, KARNATAKA
AT BENGALURU
Dated this the 31't day of January, 2023
Present: Sri IMTIAZ ALI
Presiding Officer
T.A.NO.B /2020
BETWEEN:
---
STATE BANK OF INDIA
ARMB Branch,
2na Fbor; A Block,
BKG Complex,
Mysore Bank Circle,
Avenue Road
Bangalore - 560050
AND:
.. APPLICANT
1. Sri Shivashankar Rao,
. S/o Sannahanumantha Rao Desai,
Residing at Hagedal Village,
Gangavathi Taluh
Koppal District - Sg3 ZZg.
2. Sri Ayyanna Gouda,
S/o Mallanna Gouda,
Residing at Kakkargal Village,
Gangavathi Taluh
Koppal District - SB3 ZZT
.. DEFENDANTS
Counsels on record/apoeared for:
Applicant
: Sri N.G. Ravi Kumar
.
Dtfendants : Ex-parte
;
rhe present .ffi:ffibv
the Appricant Bank
under Section 19(1) of the Recovery of Debs and Bankruptcy Act, 7993, seeking recovery of money of Rs'52,26,3LOf '
(Rupees fifty'two hkh tr,venty-six thousand three hundred and ten only) together with cosb, interest, etc'
1.
The case of the Applicant Bank is that the Defendans had approached the Applicant Bank for sanction of Agricultural Term Loan for the purpose of Agriculture Development. The Applicant Bank has considered the request of the DefendanB and sanctioned Agriculture Term Loan of Rs.8,00,000 on 17'05'2006 in terms of loan agreemens' In order to secure the loan' the DefendanE have executed &cumenB, viz Omni Bus Agreement, Registered Mortgage Deed, Translation document Guarantee agreement' etc'
3.
Further, the DefendanB have agreed to repay the above Ioan with variable rate of interest' as applicable from time to time as per the directions of the Head Office / Central Office of \
V
the Applicant Bank and penal interest in case of default and keep the accounE regular by paying installmenB as and when
due to the satisfaction of the Applicant Bank, as detailed in the OA by the Applicant Bank.
4.
The Defendans after utilising the said ban have failed and neglected to make the repayment of the loan dues as agreed and Defendans have not serviced the interest thereon as per the terms and condition agreed by the DefendanB. In view of the continued default, in paying ouBtanding dues despite being provided with sufficient opporunity the Defendants have faibd to repay the loan amount, the account vi'as classified as Non-Performing AsseE. The Applicant Bank has sent Legal Notice on 07.03.2020 to the DefendanB, recalling the entire ouBtanding dues. In spite of receipt of Notice, the DefendanB have failed to pay the oubtanding dues and hence the recovery process is initiated to recover the dues.
5.
In the light of these factors, it is contended by the Applicant Bank that Defendans are liable to pay a total sum of Rs.52,26,310/- (Rupees fifty-two hkh twenty-six thousand three hundred and ten only).
6.
After filing this OA, Summons were sent and served to \
the
TA. No.8/2020
Defendants through RPAD. When Defendanb were called out, DefendanB remained absent and placed as ex parte.
7.
To prove the case of the Applicant Bank, Chief Manager Sri S.N. Murthy has filed his affidavit by way of evidence the same was considered as evidence of AW.1 and marked at Ex.A1
and list of documents came to be marked at Ex.A2 and 8
documents came to be marked at Ex.A3 to A10.
No evidence on behalfofthe DefendanE.
9.
ArgumenB of Learned Counsel for the plaintiff Applicant Bank heard and perused the records of the case.
10. Following poinb arise for my consideration:
1l Whether Plaintiff / Applicant Bank proves iB case .
as contended in the plaint / application?
2) What Order?
11. For the following reasons, I answer the above-referred poin6 in the following manner:
REASONS
1,2. The Chief Manager of the Applicant Bank came to be examined as AW.1. His affidavit by way of evidence reiterated the facts pleaded in the plaint and his affidavit is also corroborated by the above-referred Ex.A3 to A10 which clearly \
establish the case of the Applicant Bank to allow the present 0A. Added to this, the Defendants have remained absent, hence it is to be construed that Defendants have admitted the entire case pleaded by the Applicant Bank in the present 0A.
13. Therefore, for these reasons, present OA is to be allowed with costs as sought by the Applicant Bank.
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ORDER
Present 0A stands allowed as prayed for with interest and costs. In the event of failure of the Defendants to pay the said 0A amoung the Applicant Bank is at liberty to sell the Schedule property in accordance with law as sought by the Applicant Sank in the OA. In spite of sale of the schedule property, if the OA amount is not fully realised, then the Applicant Bank is at liberty to proceed against the persons and other properties of the Defendants in accordance with law. Applicant Bank shall file latest Memo of Calculation of OA amount together with interest, costs etc., to be paid by TA. No.8/2020 Defendants duly taking into account the amount/s, if any, paid by the Defendants and/or amount realised by sale of assets, etc., during the intervening period after filing the OA, to enable the office to prepare Recovery Certificate for the amount to be paid by the Defendants to the Applicant Bank. Office is directed to issue Recovery Certificate as sought by the Applicant Bank in the OA and do the needful as required under the law forthwith. The Office is directed to issue, as far as possible, free copy of this order to the parties concerned. (Dictated to the Stenographer, after its transcription and necessary corrections, signed . and pronounced by me in the Open Court on this the 31.t day ofJanuary,2O23) V, llrvrrrlz elg PRESIDING OFFICER DRT-I, Bengaluru
Ex.A-1 Ex.A-2 ANNEXURES Witness Examined for the Applicant Bank: AW-1 : Sri S.N. Murthy Chief Manager of the Applicant Bank. List of Documents Exhibited for the Applicant Bank: : Affidavit of AW-1 : List of Documents Ex.A-3 to A-8 : L0 documents Witness Examined for the Defendants:
- Nil- List of Documents Exhibited for the Defendants:
- Nil- (,rr,)xlD f PRESIDING OFFICER DRT-I, Bengaluru