STATE BANK OF INDIA vs SRI. RUDRAGOUDA BASANAGOUDA GURUPADAGOUDRA on 29 October 2021

FINAL ORDER

1. The present OA has been filed by the under Section 19 of the Recovery of Debs ^rrr# ^"^g*t

Act, 1993, seeking recovery of money of Rs.28,37,247/- [Rupees Twenty Eight Lakh Thirty Seven Thousand Two Hundred Forty Seven onlyJ together with costs, interest, etc.

2. The case of the Applicant Bank is that the Defendan$ had approached the Applicant Bank for Agriculture Term Loan and Cash Credit Loan for purchasing Tractor and Trailer and for growing Sugarcane. The Applicant Bank considered the request and sanctioned Agriculhrre Term Loan of Rs.6,00,000/- on 26.09.2008 and Cash Credit Loan of Rs.1,30,000/- on 26.09.2008. Further the Term Loan was rephased of Rs.1,69,000/- on 29.72.2009, Rs.5,04,698/- on L6.09.201.2, Rs.37,500/-, Rs.1,94,640 / - on 77.07.2016 and Rs.1,73,67 4 / - on L6.09.2012 respectively, Rs.1,39,120/- on 20.03.2010, Rs.1,39,7 7 9 / - on 16.09.2 0 1 2 and Rs.47,631 / - and Rs.30,226 / - on 23.07.2074, in terms of the loan agreemenE. In order to secure the loans, the DefendanE have executed documenB, viz., Sanction Lette[ Hypothecation Agreement, Registered Mortgage Dee{ Encumbrance Certificate, Revival Letter etc.

3. Furthe[ the Defendants have agreed to bans with variable rate of interest, as appli le fro TA.No.3712020 time as per the directions of the Head Office / Central Office of the Applicant Bank and penal interest in case of default and keep the accounts regular by paying installmenb as and when due to the satisfaction ofthe Applicant Banh as detaihd in the OA by the Applicant Bank.

4. The DefendanB after utilising the said bans have failed and neghcted to make the repayment of the bans due as agreed and Defendans have not serviced the interest thereon as per the terms and condition agreed by the Defendans. The Applicant Bank has issued Legal Notice on 19.08.2013 to the Defendanb. In spite of receipt of Legal Notice, the DefendanB have faibd to pay the outstanding dues and hence the recovery process is initiated to recover the dues.

5. In the light of these factors, it is contended Applicant Bank that DefendanB are liabb to pay a total Rs.28,37,247/- (Rupees Twenty Eight Lakh Thirty Thousand Two Hundred Forty Seven onlyJ.

6. After filing this OA, Summons were sent and serv Defendants. When DefendanB were calUa ft, Oete \--/ by the sum of Seven remained absent and placed as ex parte.

7. To prove the case of the Applicant Banh ib Chief Manageq, Sri Binoy Kumar Shrivastava has filed his affidavit by way of evidence and same was considered as evidence of AW1 and marked at Ex.A1 and List of Documents came to be marked at Ex.A2 and 26 documenb came to be marked at Ex.A3 to 28.

8. No evidence on behalfofthe DefendanB.

9. ArgumenB of Learned Counsel for the Plaintiff / Applicant Bank heard and perused the records of the case. Folbwing poinE arise for my consideration:

1) 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 poinB in the following manner:

REASONS

came to be

10.

72. The Chief Manager of the Applicant examined as AW.1. His affidavit by way of a"n."rf".rV

the facts pleaded in the plaint and his affidavit is also corroborated by the above-referred Ex.A3 to A28 which clearly establish the case of the Applicant Bank to allow the present OA. 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 OA.

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 Defendants to pay the said OA amount, the Applicant Bank is at liberty 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 amount is not fully realised, then the liberty to proceed against the persons the Defendants in accordance with law. properties, if the OA Appli Bank is and o pro

Applicant Bank shall file latest Memo of Calculation of OA amount together with interest, costs etc., to be paid by 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. [Dictated to the Stenographer, after its transcription and necessary corrections, signed pronounced by me in the open Court on this the 29rh day of October,20Zl (K. RAVTNDRAN NArR) Presiding Officer DRT-I, Bengaluru

ANNEXURES Witness Examined for the Applicant Bank: AW-1 : Sri Binoy Kumar Shirvastava Chief Manager of Applicant Bank List of Documents Exhibited for the Applicant Bank: : Affidavit of AW-1 : List of Documents T A.No.37 /2020 (K. RAVTNDRAN NArR) Presiding Officer DRT-I, Bengaluru Ex.A-1 Ex.A-2 Ex.A-3 to A-28 : 26 documents Witness Examined for the Defendants:

- NiI- List of Documents Exhibited for the Defendants:

- Nil- SG