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State Bank of India V/S Suvarnasari Venkateshwara Food Products and Others.

    O.A. No. 425/2019

    Decided On, 05 February 2020

    At, Debts Recovery Tribunal Nagpur

    By, THE HONORABLE JUSTICE: CHIKKAM VIJAY MOHAN
    By, (PRESIDING OFFICER)

    For Petitioner: Anita Bhojwani, Advocate.



Judgment Text


1. The applicant filed present O.A. for the recovery of Rs. 1.08,14,500/- from the defendants jointly and severally; with costs and future interest @ 11.80% p.a. with monthly rests, from the date of filing the OA till the date of realization.

2. Though the defendants caused appearance in person before this Tribunal, they failed to take steps to contest this case by filing written statement in defense despite giving them sufficient opportunities. Hence, the matter proceeded ex parte against all the defendants on 08.01.2020.

3. The applicant filed its Evidence Affidavit [Exh. 9]. Applicant filed List of 11 documents alongwith O.A. in Exh. 4) annexing therewith documents, the original documents therein are marked as Exh. AW-1/1 to Exh. AW-1/11. AW-1 inter alia deposed that defendants deposited Rs. 5 Lakhs on 4.12.2019 and another Rs. 5 Lakhs on 18.12.2019 in their loan account and requested for its appropriation.

4. Heard arguments.

5. As stated supra, the case against all the defendants proceeded ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz. Exh. AW-1/1 to Exh. AW-1/1 marked on behalf of the applicant, clinches the claim of the applicant against the defendants. Hence, the defendants are jointly and severally liable to pay the claim of the applicant in the OA with costs and future interest. The amount of Rs. 10 lakhs deposited by the defendants in the loan account during pendency of O.A. is liable to be appropriated towards claim of the applicant bank. However, I am not inclined to allow Penal Interest of Rs. 10,667/-; which has been included by the applicant bank in the particulars of claim. Hence, I pass the following order:-

ORDER

A] Original Application is allowed with costs.

B] The defendants to pay jointly and severally to the applicant bank a sum of Rs. 1,08,03,833/- (Rs. One Crore Eight Lakhs Three Thousand Eight Hundred Thirty Three only) with future interest @9% p.a. simple from the date of filing the O.A. till full realization.

The amount of Rs. 10 lakhs deposited by the defendants in the loan account during pendency of O.A. is liable to be appropriated towards claim of the applicant bank.

C] It is declared that the outstanding dues are secured by mortgaged immovable properties of the defendants described in the documents of mortgage/Schedule-A to Schedule-G of Mortgaged Properties annexed to the O.A.

Mortgagor(s)/Defendant(s) is/are given liberty to pay the outstanding dues in the respective loan accounts of the applicant bank within 60 days to avoid sale of the mortgaged properties.

D] It also is declared that charge of the outstanding dues is kept on hypothecated goods/assets referred to in documents of hypothecation/Schedule-H of hypothe

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cated Asset annexed to the O.A. E] Issue Recovery Certificate accordingly. F] Applicant is directed to file costs memo within 2 weeks from the date of this Order. G] The Registrar is directed to send the copy of judgment and Recovery Certificate to the parties to this O.A.
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