Debts Recovery Tribunals and Appellate Tribunals
STATE BANK OF INDIA vs SRI. NABEERASOOL DADASAHEB YATAGIRI on 29 October 2021
IN THE DEBTS RECOVERYTRIBUNAT - I, KARNATAKA
AT BENGALURU
Dated this the 29s day of October,2O2l
Present: Shri. K. Ravindran Nair
Hon'ble Presiding Officer
TA5LlzO2O
BETWEEN:
STATE BANKOF INDIA
Asset Recovery Management Branch
Mysore Bank BuiHing
BKG Complex, A-Bloch Znd Fbor
Avenue Road, Bangabre-S60 009
(Represented bY its Chief Manager
Sri Vishwanath HegdeJ
AND:
..
APPLICANT
DEFENDANTS
1. Sri Nabeerasool Dadasaheb Yatagiri
S/o. Sri Dadasaheb Yadgiri
Aged about 67 Years
2. Sri Vaieerbashya NabeersoolYatagiri
S/o. Sri Nabeerasool Yadgiri
Aged about 51 Years
Both are R/at.
Takali Village, Indi Taluk
Bijapura District-586 101
Counsel on record/appeared for:
Applicant :
Sri G.N. SatYamurthY
Defendants :
Ex Parte
FINAT ORDER
1.
The present OA has been fibd bY the
under Section 19 of the Recovery of Debs OOO,,.",d]\
*^'yv
Art, lgg3, seeking recovery of money of Rs'20,74'930/- (Rupees Twenty Lakh Seventy Four Thousand Nine Hundred Thirty only) together with cosb, interest, etc'
2.
The case of the Applicant Bank is that the DefendanB
had approached the Applicant Bank for Agriculture Term Loan for purchasing Tractor and Trailer' The Applicant Bank considered the request and sanctioned Agriculture Term Loan of Rs.6,00,000/- on 16.10.2006' Further the Term Loan was rephased of Rs.1,90,936/- on 16.01'2010, Rs'2,65'300/- on 2g.72.201L, Rs.3,20,974/- on 14'09'20L2, Rs'22'065/- on 15.02.2073 and Rs.2,32,610/- on 2ZIL2014 respectively' in terms of the ban agreemenB. In order to secure the ban' the Defendantshaveexecuteddocuments,viz''Hypothecation Agreement, Registered Mortgage Deed UIM Letter' Revival Lette[ Balance Confirmation Letter etc'
3.
Furthet, the Defendants have agreed to repay the above loan with variable rate of interest, as applicable from time to 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 accounB regular by paying installmenB as and when due to the satisfaction ofthe Applicant Bank, as detailed in the OA by the Applicant Bank.
4.
The DefendanE after utilising the said ban have failed and neglected to make the repayment of the ban due as agreed and Defendanb have not serviced the interest thereon as per the terms and condition agreed by the Defendanb. The Applicant Bank has issued Legal Notice on 19.0g.2013 to the Defendan8. In spite of receipt of Legal Notice, the Defendants have faibd 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 DefendanB are liabb to pay a total sum of Rs.20,74,930/- [Rupees Twenty Lakh Seventy Four Thousand Nine Hundred Thirty onlyJ.
6.
After filing this OA, Summons were sent
se
Defendanb. When DefendanB were called
remained absent and placed as ex parte.
De
7.
To prove the case of the Applicant Bank' is Chief Manage4 Sri Binoy Kumar Shrivastava has fibd 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 23 documens came to be marked at Ex.A3 to 25.
8.
No evidence on behalf of the DefendanB'
g.
ArgumenB of
Applicant Bank heard
Learned Counsel
and perused the
for the Plaintiff /
records of the case.
10.
Folbwing poinB arise for my consideration:
1) Whether Plaintiff / Applicant Bank proves its case as contended in the plaint / application?
2) What Order?
11. For the folbwing reasons, I answer the above-referred points in the following manner:
REASONS
72. The Chief Manager of the Applicant Bank examined as AW.1' His affidavit by way of evid the facts pleaded in the plaint and his affidavit TA.No.5U2020
corroborated by the above-referred Ex.A3 to A25 which clearly establish the case of the Applicant Bank to allow the present OA. Added to this, the Defendants have remained absen! 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.
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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 at of and o erp
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 and pronounced by me in the Open Court on this the 29t day of October' 2021)
(K. RAVINDRAN 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 TA.No.51/2020 (K. RAVTNDRAN NAIR) Presiding Officer DRT-I, Bengaluru Ex.A-1 Ex.A-2 Ex.A-3 to A-25 : 23 documents Witness Examined for the Defendants:
- Nit- List of Documents Exhibited for the Defendants:
- Nit- SG