This application is filed under Section 19 of Recovery of Debts Due to the Banks and Financial Institutions Act, 1993 to pass an order directing the defendants to pay an amount of Rs. 34,07,37,205/- debt due under the four Loan accounts as follows: i) Rs. 7,91,41,167/- together with future interest at 13.25 % p.a. plus 2% penal interest with monthly rests due under CC loan account; ii) Rs. 5,15,38,869/-; iii) Rs. 13,91,99,034/- & iv) Rs. 7,08,58,135/- together with future interest at 13.75 % p.a. plus 2% penal interest with monthly rests from the date of OA till the realization of the entire amount and for issue of Recovery Certificate accordingly.

2. According to the facts of the case in brief, the 1st Defendant is a society reptd by 2nd defendant approached the applicant bank on 17-01-2012 for sanction of loan facilities and applicant bank sanctioned said loan facilities i) Cash Credit of Rs. 6,00,00,000/-) ii) Term loan (Fresh) of Rs. 5,00,00,000/- iii) Term Loan-I of Rs 3,57,00,000/- iv) Term Loan-II of Rs 9,85,00,000/- making it total credit loan facilities of Rs 24,42,00,000/- vide credit sanction advise dt. 27-03-2012 to 1st Defendant and defendants 2 to 8 stood as guarantors for said loan facilities and accepted the terms and conditions and acknowledged the credit sanction advise and 1st defendant reptd by 2nd defendants and defendants 2 to 8 executed DP Notes, Letter of Undertaking : Repayment in Installments, Letters of Hypothecations, Term loan Agreement on 30-03-2012 and on 19-04-2012 for said loan facilities and defendants 2 to 8 executed guarantee for cash credit etc for said loan facilities in favour of applicant bank and defendants 1 to 3 deposited title deeds and mortgaged the OA schedule properties and also executed Registered Memorandum deposit of title deeds dt. 20-04-2012 vide doc No's. 3504/2012, 3505/2012, 3506/2012, 3507/2012 & 3508/2012 in favour of applicant bank and Defendants executed revival letters on 21-01-2015 and thereafter all loan accounts became NPA on 30-06-2015 and applicant bank issued a Demand notice under section 13(2) under SARFAESI ACT to defendants on 17-07-2015 and again Defendants executed revival letters on 11-07-2016 and the applicant bank issued a legal notice on 13-09-2018 to defendants to repay the entire outstanding amount with interest but defendants failed to repay the same.

3. Written Statement has been filed by D1 to D4 & D6 denying the averments made in the application. Even though D1 to D4 & D6 filed written statement before the Tribunal, D1 to D4 & D6 did not adduce any evidence to substantiate their averments. Hence, evidence was closed.

4. Sri Sri Rambabu Dasari, Manager of applicant bank filed the evidence on affidavit along with the attested copies of the documents which have been proved and marked as Ex. A1 to A88 viz., A1 Evidence affidavit, A2 List of documents, A3 Memorandum and Articles of Association and Certificate of Registration, A4 Resolution, A5 Credit Sanction Advice, A6 Demand Promissory Note along with DP Note Delivery letter, A7 Demand Promissory Note, A8 Letter of Repayment, A9 Demand Promissory Note, A10 Letter of Repayment, A11 Demand Promissory Note, A12 Letter of Repayment, A13 to A16 Letter of Hypothecation, A17 Term Loan Agreement, A18 to A20 Letter of Hypothecation, A21 Term Loan Agreement, A22 & A24 Letter of Hypothecation, A25 Term Loan Agreement, A26 Guarantee for cash credit etc by D-2, A27 Guarantee for cash credit etc by D-3, A28 Guarantee for cash credit etc by D-4, A29 Guarantee for cash credit etc by D-5, A30 Guarantee for cash credit etc by D-6, A31 Guarantee for cash credit etc by D-7, A32 Guarantee for cash credit etc by D-8, A33 Guarantee for cash credit etc by D-2, A34 Guarantee for cash credit etc by D-3, A35 Guarantee for cash credit etc by D-4, A36 Guarantee for cash credit etc by D-5, A37 Guarantee for cash credit etc by D-6, A38 Guarantee for cash credit etc by D-7, A39 Guarantee for cash credit etc by D-8, A40 Guarantee for cash credit etc by D-2, A41 Guarantee for cash credit etc by D-3, A42 Guarantee for cash credit etc by D-4, A43 Guarantee for cash credit etc by D-5, A44 Guarantee for cash credit etc by D-6, A45 Guarantee for cash credit etc by D-7, A46 Guarantee for cash credit etc by D-8, A47 Guarantee for cash credit etc by D-2, A48 Guarantee for cash credit etc by D-3, A49 Guarantee for cash credit etc by D-4, A50 Guarantee for cash credit etc by D-5, A51 Guarantee for cash credit etc by D-6, A52 Guarantee for cash credit etc by D-7, A53 Guarantee for cash credit etc by D-8, A54 Registered Sale deed No. 5/2003, A55 Registered Sale deed No. 6/2003, A56 Registered Sale deed No. 830/2003, A57 Registered Sale deed No. 831/2003, A58 Registered Sale deed No. 1017/2002, A59 Registered Sale deed No. 1018/2002, A60 Registered Sale deed No. 1019/2002, A61 Registered Sale deed No. 1021/2002, A62 Registered Sale deed No. 1022/2002, A63 Registered Sale deed No. 1083/2002, A64 Registered Sale deed No. 1893/2003, A65 Registered Sale deed No. 1894/2003, A66 Registered Sale deed No. 405/1994, A67 Registered Sale deed No. 339/2007, A68 Registered Sale deed No. 296/1987, A69 Registered Sale deed No. 2487/2001, A70 Registered Sale deed No. 51/2001, A71 Registered Sale deed No. 76/2001, A72 Registered Sale deed No. 470/1987, A73 Registered Memorandum deposit of title deeds No. 3504/2012, A74 Registered Memorandum deposit of title deeds No. 3505/2012, A75 Registered Memorandum deposit of title deeds No. 3506/2012, A76 Registered Memorandum deposit of title deeds No. 3507/2012, A77 Registered Memorandum deposit of title deeds No. 3508/2012, A78 & A79 Revival letter, A80 13(2) Demand Notice, A81 & A82 Revival letter, A83 Legal Notice along with Postal Receipts, A84 Certified Extract of Loan account No. 233902000000227 along with interest calculation after NPA, A85 Certified Extract of Loan account No. 233903261200009 along with interest calculation after NPA, A86 Certified Extract of Loan account No. 233903261200010 along with interest calculation after NPA, A87 Certified Extract of Loan account No. 233903261200011 along with interest calculation after NPA, A88 Power of Attorney, respectively.

Thus the Applicant prays that the Tribunal to pass an order and issue a Recovery Certificate for a sum of Rs. 34,07,37,205/- debt due under the four Loan accounts as follows: i) Rs. 7,91,41,167/- together with future interest at 13.25 % p.a. plus 2% penal interest with monthly rests due under CC loan account; ii) Rs. 5,15,38,869/-; iii) Rs. 13,91,99,034/- & iv) Rs. 7,08,58,135/- together with future interest at 13.75 % p.a. plus 2% penal interest with monthly rest still the date of realization.

5. Heard the learned Counsel for applicant bank and having perused the OA, and also evidence affidavit filed along with documents and marked as above exhibits, and in view of the averments made in the application, the claim of the applicant bank is proved against defendants and OA deserves to be allowed with costs, for recovery of an amount of Rs. 34,07,37,205/- debt due under the four Loan accounts as follows: i) Rs. 7,91,41,167/- together with future interest at 13.25 % p.a. with monthly rests due under CC loan account; ii) Rs. 5,15,38,869/-; iii) Rs. 13,91,99,034/- & iv) Rs. 7,08,58,135/-together with future interest at 13.75 % p.a. with monthly rests from the date of OA, till the date of realization, to be recovered from the defendants jointly & severally.

6. In

the result, the OA is allowed with costs. Issue Recovery Certificate for an amount of Rs. 34,07,37,205/- debt due under the four Loan accounts as follows: i) Rs. 7,91,41,167/- together with future interest at 13.25 % p.a. with monthly rests due under CC loan account; ii) Rs. 5,15,38,869/-; iii) Rs. 13,91,99,034/- & iv) Rs. 7,08,58,135/- together with future interest at 13.75 % p.a. with monthly rests from the date of OA, till the date of realization, to be recovered from the defendants jointly & severally and personally and also by sale of mortgaged/hypothecated property, If any. Accordingly issue Recovery Certificate. Let the copy of order be made available to the parties as per rule. [Typed to the dictation, corrected and pronounced by me in the open court on this 10th day of February, 2020].