STATE BANK OF INDIA vs Mr Mohd Yousuf Mia on 10 August 2022

FINAL ORDER

L. The present OA has been filed by the Applicant Bank under Section 19 of the Recovery of Debs and Bankruptry , Act, L993, seeking recovery of money of Rs.42,64,28t/- \ V ' (Rupees Forty Two Lakh Sixty Four Thousand Two Hundred \ Eighty One only) together with cosB, interest, etc. APPLICANT

2. The case of the Applicant Bank is that the Defendant had approached the Applicant Bank for grant of Agriculbrral Term Loan. The Applicant Bank considered the request and sanctioned Agricultural Term Loan of Rs'6'15'000/- on 31.01.2007 for purchasing Tractor.' & Traibl in terms of the ban agreemenB. In order to secure the ban' the Defendant has executed documenb, viz., Copy of the Sanction Letter' Copy of the Hypothecation Agreement, Copy of the Mortgage Deed Copy of Letter of Revival etc'

3. Furthel the Defendant has agreed to repay the above loans with variabb rate of interest, as applicabb from time to time as per the directions of the Head Office / Cenffal Office of the Applicant Bank and penal interest in case of default and keep the accounB regular by paying installmenB as and when due to the satisfaction of the Applicant Banl! as detailed in the OA by the APPlicant Bank.

4. The Defendant after utilising the said ban has failed and neglected to make the repayment of the loan due as agreed and Defendant has not serviced the interest thereon as per the V

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terms and condition agreed by the Defendant. In view of the continued default, the ban accounb were classified as Non- Performing Asset. The Applicant Bank has sent Legal Notice on 20.03.2020 to the Defendant. In spite of receipt of Legal Notice, the Defendant has faihd 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 Defendant is liabb to pay a total sum of Rs,42,64,281/- (Rupees Forty Two Lakh Sixty Four Thousand Two Hundred Eighty One onlyJ.

6. After filing this OA, Summons was sent and served to the Defendant through RPAD. When Defendant was calbd out, Defendant remained absent and placed as ex parte.

7. To prove the case of the Applicant Bank, its Chief Manager and Authorized Official, Sri Shashikant Rathod, has filed his affidavit by way of evidence and 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 10 documents came to be marked at Ex.A3 to 12.

8. No evidence on behalf of the Defendant' g. Arguments of Learned Counsel Applicant Bank heard and perused the rA.No.99/2020 for the Phintiff / records of the case.

10. Folbwing poins arise for my consideration:

1) Whether Plaintiff / Applicant Bank proves iB case as contended in the plaint / application?

2) What Order?

11. For the folbwing reasons, I answer the above-referred points in the folbwing manner:

REASONS

t2. The Chief Manager and Authorized Official 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 A12 which clearly establish the case of the Applicant Bank to allow the present OA. Added to this, the Defendant has remained absent, hence it is to be construed that Defendant has admitted the entire case pleaded by the Applicant Bank in the present OA.

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13. Therefore, for these reasons, present OA is to be allowed with costs as sought by the Applicant Bank.

ORDER

Present OA stands allowed as prayed for with interest and costs. In the event of failure of the Defendant to pay the said 0A amount, the Applicant Bank is at liberry to sell the Schedule properties in accordance with law as sought by the Applicant Bank in the OA. In spite of sale of the schedule properties, if the OA amount is not fully realised, then the Applicant Bank is at liberty to proceed against the person and other property ofthe Defendant in accordance with law' Applicant Bank shall file latest Memo of Calculation of OA amount together with interest, costs etc., to be paid by Defendant duly taking into account the amount/s, if any, paid by the Defendant 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 Defendant 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 l0tt day of August,Z0Z2) \ \4 \i, \ (rMtrAz Arr) PRESIDING OFFICER DRT-I, Bengaluru

ANNEXURES Witness Examined for the Applicant Bank: AW-1 : Sri Shashikant Rathod Chief Manager and Authorized Official of Applicant Bank List of Documents Exhibited for the Applicant Bank: Ex.A-1 : Affidavit of AW-1 Ex.A-Z : List of Documents Ex.A-3 to A-LZ : L0 documents Witness Examined for the Defendant:

- Nil- List of Documents Exhibited for the Defendant:

- Nil- \p** (rMrraz ALI) PRESIDING OFFICER DRT-I, Bengaluru SG