IN THE DEBTS RECOVERY TRIBUNAL, ORISSA : CUTTACK.

O. A. No. ______________ of 2020.

Andhra Bank, Nilakantha nagar Branch, Berhampur … Applicant.

Vrs.
M/s Maa Durga Agency and others … Defendants.
CONCISE STSATEMENT
That the Defendants availed OCC limit of Rs.20 Lakhs with interest @ of 10.9%
(MCLR +spread) from the applicant bank vide sanction letter dt.08.08.17 for their
business against hypothecation of stocks and Book Debts and co-lateral security of
Schedule-A property for creation of equitable mortgage by executing necessary
documents in favour of the bank for repayment of loan, but the defendants did not
pay the dues of the bank and the said loan was classified as NPA on 07.09.19. That
on default and due irregularity by the defendants with regard to the said loan, the
applicant bank issued demand notice dt.07.09.19 u/s 13 (2) SRFAESI Act to an
outstanding amount of Rs.20,56,113/- as on dt.07.09.19 with subsequent interest
as per the agreement within 60 days from the date of the notice failing which the
bank will be constrained to take measures against the properties mortgaged to the
bank described in Schedule-A as provided under the SRFAESI Act, but in-spite of
the said notice the defendants did not pay the dues of the Bank. That the applicant
bank issued possession notice dt.04.01.20 of the schedule A property. That the
applicant bank has filed application dt.31.01.20 in the court of district
magistrate,Chatrapur, dist-Ganjam u/s 14 of SARFAESI ACT . That the applicant
bank has filed this original application for recovery of loan from the defendants This
application has been filed after due calculation of the interest as admissible from
the defendants as on 05.02.20 which comes to Rs.21,65,993/- followed with P.I
and F.I and cost which the defendants are liable to pay jointly and severally.
By the Applicant through

Cuttack.
Date: .3.2020 Advocate.
 IN THE DEBTS RECOVERY TRIBUNAL, ORISSA : CUTTACK.

O. A. No. ______________ of 2016.

Andhra Bank, Nilakantha nagar Branch, Berhampur … Applicant.

Vrs.
M/s Maa Durga Agency and others … Defendants.
GENERAL INDEX
Sl.No. Description of documents. Pages.
1. Concise statement.
2. Original Application 1 - 11
3. Index of documents.
ANNEXURES
1. Application of the defendant dt.13.07.18 12 - 16

2. Sanction letter dt.08.08.17. 17 - 20

3. Composite Agreement dt. 08.08.17. 22 - 38

4. Series. RF 255 dt.08.08.17,

Sale Deed No.10681701633 dt.14.07.17,
RF 256 dt. 07.08.17, RF 211 dt.08.08.17. 42 - 65

5. Notice u/s 13 (2) of SRFAESI Act dt.07.09.19. 98 – 99

6. Posession Notice dt.04.01.20

7. Application u/s 14 dt.31.01.20

8. Statement of account. 101– 116

(Certificate in term of Section 2A)

9. Vakalatnama.

Cuttack.
Date: .3.2020 Signature of the Applicant.

IN THE DEBTS RECOVERY TRIBUNAL, ORISSA : CUTTACK.

O. A. No. ______________ of 2020.

Andhra Bank, Nilakantha nagar Branch, Berhampur … Applicant.

Vrs.
M/s Maa Durga Agency and others … Defendants.
LIST OF ORIGINAL DOCUMENTS FILED ON BEHALF OF THE APPLICANT
BANK

Annexures Description of documents. Sheets.

1. Application of the defendant dt.13.07.18

2. Sanction letter dt.02.05.17.

3. Composite Agreement dt. 27.07.18.

4. Series. RF 255B dt.14.09.16, RF 255B 02.05.17

Sale Deed No.10611109922dt.26.09.11,
RF 256 dt. 02.05.17, RF 211 dt.27.07.18.
5. Notice u/s 13 (2) of SRFAESI Act dt.02.11.19.

6. Statement of account.

__________________________________________________________
Total Sheets 85

Cuttack.
Date: .3.2020 Signature of the Applicant.

BEFORE THE DEBTS RECOVERY TRIBUNAL, ORISSA, CUTTACK.

Dairy No. of 2020
O. A. No. ______________ of 2020.
BETWEEN :
Andhra Bank, a Government of India undertaking incorporated under
the Banking Companies (Acquisition and Transfer of Undertakings) Act,
1980, carrying on business all over India having its head office at
Andhra Bank, Building, 5-9-11, Secretariat Road, Saifabad,
Hyderabad-4 and one of its branches amongst other places, At-
Nilakantha Nagar Branch, Nilakantheswar Temple Road, Near Lingaraja
Hall, Berhampur, Dist-Ganjam, Pin-760002 represented by its Branch
Manager and the Power of Attorney holder of the same address as that
of the Branch … Applicant.
Vrs.
1) M/s Maa Durga Agency, through its Proprietor Sasmitha Panigrahy,
At- Auto Nagar, Haldiapadar, Berhampur, Dist-Ganjam, Pin-760001.
2) Sasmitha Panigrahy, w/o Siba Sankar Panda, At- Aladigaon, Po-
Aladigaon, Purushottampur, Dist-Ganjam.
3) Siba Sankar Panda ,S/o Ramakrushna Panda , At- Aladigaon, Po-
Aladigaon, Purushottampur, Dist-Ganjam.

Defendant No.1 is the borrower.

Defendant No.2 is the borrower and mortgagor.
Defendant No.3 is the co-obligant and mortgagor.

… Defendants.

DETAILS OF THE APPLICATION

1) PARTICULARS OF THE APPLICANT :
i) Name of the Applicant: Andhra Bank, At- Nilakantha Nagar Branch,
Berhampur, Dist-Ganjam, Pin-700002
ii)Address of the
 Head Office: Andhra Bank, At-Andhra Bank Building, 5-9-
11, Secretariat Road, Saifabad, Hyderabad-
500004

iii)Address for service

of notices: Andhra Bank, Nilakantha Nagar Branch,
Nilakantheswar Temple Road, Near Lingaraja
Hall, Berhampur, Dist-Ganjam, Pin-760002,
and its Advocate Sri Narasingha Patra, Shelter
Chowk, Cuttack-8, Tel. No.0671-2300987,
9437310634, 9438562305

2. PARTICULARS OF THE DEFENDANTS :

i) Name and address of the
Defendants : As per cause title.
ii) Address for service of
notice : As per cause title.

3. JURISDICTION OF THE TRIBUNAL :

The applicant declares that the subject matter of recovery of the debt
due falls within the jurisdiction of this Tribunal.

4. LIMITATION :
The applicant further declares that the application is within the jurisdiction of
this Tribunal prescribed in Section 24 of the Recovery of Debts Due to Bank
and Financial Institutions Act, 1993.

5. FACTS OF THE CASE :

i) That the applicant Andhra Bank is a body corporate carrying on
business having its head office at Dr. Pattabhai Bhawan, Secretariat Road,
Saifabad, Hyderabad-500004 and At- Nilakantha Nagar Branch,
Nilakantheswar Temple Road, Near Lingaraja Hall, Berhampur, Dist-Ganjam,
Pin-760002 within the jurisdiction of this Hon’ble Tribunal.

That Sri. Subrat Kumar Sahu is the Branch Manager of the applicant
bank and is authorized to sign, verify the application before any court or
Tribunal and to do all necessary acts that may be found necessary on behalf
of the bank. That the applicant bank carries on business of banking such as
accepting deposits, lending and or advancing loans to various persons and
further carries such other activities as are permissible under the banking
Laws.

ii) That the defendant No.1 Proprietorship Firm is the borrower, the
defendant No.2 is the borrower and guarantor/mortgagor and defendant
No.3 is the coobligant and guarantor/mortgagor to the cash credit facility
granted by the applicant bank. That the defendant No.3 has mortgaged the
schedule-A property to the applicant bank. That all the defendants are jointly
and severally liable to pay the dues of the bank.

iii) That the defendants No.1 to 3 approached the applicant bank At-
Nilakantha Nagar Branch, Nilakantheswar Temple Road, Near Lingaraja Hall,
Berhampur, Dist-Ganjam, Pin-760002 and filed an application for the
sanction of Open Cash Credit facility of Rs.20 Lakhs for the for working
capital requirement of the business of trading in tractor spares and
assembly of tractor,trolley and agricultural implements, against the
hypothecation of stock of the business and co-lateral security of residential
belonging of defendant no 3 , situated at Khata Sl No-702/620, Plot No-
603/1837, Revenue Mouza-Kumari , Tahasil-Purushottampur, Dist-Ganjam,
area Ac 0.030 dec . That the applicant bank considering the aforesaid
application of the defendants No.1 to 3 vide letter dt.08.08.17 sanctioned
OCC limit of Rs.20,00,000/- in their favour with interest 10.9% against
hypothecation of stocks and Book debts and collateral security i.e equitable
mortgage of residential belonging , situated at Khata Sl No-702/620, Plot
No- 603/1837, Revenue Mouza-Kumari , Tahasil-Purushottampur, Dist-
Ganjam, area Ac 0.030 dec , belong to the defendant No.3 with other terms
and conditions enumerated in the said sanction letter for their business. That
the letter of Sanction dt. 08.08.17 was acknowledged by all the defendants
No.1 to 3 as token of the fact that the terms and conditions of the Open
Cash Credit limit was accepted to them. That the defendants accepted the
terms and conditions of the sanction letter dt. 08.08.17 and availed the
Open Cash Credit facility and executed necessary documents of the bank in
its standard format as required by the bank. The copy of the application of
the defendants No.1 to 3 and the sanction letter dt. 08.08.17 are annexed
as Annexures-1 and 2.

That the composite agreement dt.08.08.17 was executed between the

applicant bank and the defendant no 1 and 3 and the loan was sanctioned
accordingly. That in the said agreement the borrowers authorized the
applicant bank to charge and debit the OCC account with interest of 10.9%
p.a. (MCLR+Spread). The said composite agreement is annexed as
Annexture-3.

iv) That the defendant No.3 as co-obligant/mortgagor guaranteed the

repayment of the cash credit facility of Rs.20 Lakhs availed by the
defendants along with interest and other charges by depositing the title deed
as per the schedule-A property on 08.08.17 for creation of equitable
mortgage in favour of the bank vide RF 255 dt.08.08.17 , Registered Sale
Deed No.10681701633 dt.04.07.17, RF 256 dt.07.08.17. & RF 211
dt.08.08.17. That on execution of necessary documents the defendants No.1
to 3 availed the Cash Credit loan facility. The copy of the said documents RF
255 dt.08.08.17 , Registered Sale Deed No.10681701633 dt.04.07.17, RF
256 dt.07.08.17. & RF 211 dt.08.08.17 are annexed as Annexure-4 Series.

v) That the defendants No.1 to 3 availed the cash credit facility

sanctioned by the applicant bank and utilized the same but did not repay the
dues of the bank in-spite of repeated approaches and violated the terms and
conditions of the sanction letter. That the defendants No.1 to 3 did not pay
the dues of the bank and the account was classified as NPA on 31.08.19.
That the Authorized Officer of the bank issued the demand notice
dt.07.09.19 u/s 13(2) of SRFAESI Act, 2002 to the defendant No.1 to 3
calling upon them to pay an outstanding amount of Rs.20,56,113 /- as on
07.09.19 with subsequent interest as per the agreement within 60 days from
the date of the notice failing which the bank will be constrained to take
measures against the properties mortgaged to the bank described in
Schedule-A as provided under the SRFAESI Act. That the defendant No.1 to
3 did not pay the dues of the bank nor submitted any reply to the same. The
copy of the notice dt. 07.09.19 is annexed as Annexure-5.

vi) That the borrower failed to repay the outstanding amount within the
60 days limit provided in the said demand notice dt. 07.09.19. That from the
aforesaid facts it is clear that the defendants have violated the terms and
conditions of the sanction letters of the Bank.

vii) That the borrowers having failed to repay the outstanding amount, the
applicant bank issued a possession notice dt.04.01.20 under Rule 8(1) of
security Interest (Enforcement) Rules 2002, Schedule A property of
defendant No.1 to the borrower, co-obligant and the public in general. That
in the said notice the borrower`s attention is invited to provisions of section
13(8) of the Act, in respect of time available, to redeem the secured asset.
That in the said notice the borrower, the co-obligant and the public in
general are cautioned not to deal with the schedule-A property. The said
posession notice dt.04.01.20 is annexed as Annexture-6.

viii) That the applicant bank through its authorized officer has taken
symbolic possession of the secured asset on 04.01.20 but the borrower
resisted to handover the possession of the mortgaged property to authorized
officer. That the borrower prevented authorized officer from taking actual
possession of the secured asset. That the applicant bank filed and
application dt 31.01.20 u/s 14 of SARFAESI ACT 2002 in the court of district
magistrate, Dist-Ganjam, Chatrapaur. The said application dt.31.01.20 is
annexted as Annexture-7.

ix) That the defendants availed OCC limit of Rs.20,00,000/- for their
business and embarked upon the business, but in breach of the agreed
terms and conditions defaulted in repayment dues to the applicant bank
along with monthly interest. That the defendants failed to discharge the
liabilities and violated the terms and conditions of the documents executed
by them which has been reflected in the statement of Account. The copy of
the statement account in respect of OCC account along with normal and
overdue interest is annexed as Annexure-8.

x) That on consideration of the execution of documents by the

defendants, the defendants No.1 to 3 availed the loans and the applicant
bank disbursed the OCC limit in their favour. That the defendants no.1 to 3
utilized the loan in their business and violated the agreed terms and
conditions and failed to repay the loan dues with interest to the bank. Thus
as on 05.02.20 the liability of the defendants including normal and overdue
interest is Rs.21,65,993/- with regard to OCC Loan. Therefore the total
liability of the defendants is Rs.21,65,993/- which the defendants No.1 to 3
are liable to pay the same.

xi) That in the meantime the loan documents in respect of the

transaction with the borrower was about to get barred by limitation and the
applicant bank is forced to file this original application to save limitation by
invoking its right against secured assets, unsecured assets and personal
remedies by filing this original application under the RDDBFI Act. That since
the defendants No.1 to 3 have executed the documents as per the bank’s
standard format the original application is filed to avoid the bar of limitation
and thereby protecting the interest of the applicant bank under common law.

xii) That on failure of the defendants to regularize the account in breach

of commitment as per the statement of account, the bank was left with no
other option than to approach and present this original application for issue
of recovery certificate for an amount of Rs.21,65,993/- as on 05.02.20
which the defendants No.1 to 3 are liable to pay with P.I and F.I along with
other costs and charges and cost of this application from the defendants who
are jointly and severally liable to pay the same. That details of total liability
of the defendants No.1 to 3 for Rs.21,65,993/- as on 05.02.20.

xii) That the cause of action for this original application arose when the
defendants No. 1 to 3 approached for loan, the loan was sanctioned,
operation of the loan accounts started, mortgaged the Schedule-A property
on 08.08.17 when the defendants No.1 to 3 failed to repay the loan
outstanding of the applicant bank as per the notice dt.07.09.19 u/s 13 (2) of
the SARFAESI Act.

xiii) That the interest charged on the said loan is as per the stipulation
made by the RBI from time to time subject to amendment.

6. RELIEF(s) SOUGHT :
That in view of the facts mentioned in Paragraph-5 the applicant Bank
prays for the following reliefs:

a) That a Recovery Certificate for an amount of Rs.21,65,993/- as on

05.02.20 be passed against the defendants jointly and severally in
favour of the applicant bank.

b) That an order for pendent lite and future interest at the agreed rate
applicable to the OCC availed by the defendants and as per the charge
from time to time may be passed with monthly rest till realization of
the claim amount against the defendants jointly and severally.
 c) That an order be passed fixing a date and direction to all the
defendants to pay the certificate dues with interest, other costs and
charges and cost of this application.

d) That on failure to pay the certificate dues the property mortgaged as

described in the Schedule- A may be ordered to be attached and sold
and the sale proceeds be applied for partial or full satisfaction of the
certificate.

e) That in the event sale proceeds of the mortgage property belonging to

the defendants are not sufficient to cover the dues of the applicant
Bank the defendants may be held personally liable and the certificate
may be passed accordingly.

f) Any other relief the Hon’ble Tribunal may deem fit and proper in the
interest of Justice.

7. INTERIM ORDER IF PRAYED FOR:

Pending decision of this application the applicant Bank seeks issue of
the following interim orders:

a) An order of attachment be passed with a liberty to the applicant

Bank to sale the securities such as hypothecated goods and immovable
properties of the defendants.

b) And or any other order as deem fit and proper in the circumstances
of the case.

8. MATTER NOT PENDING IN ANY OTHER COURT.

The applicant further declares that the matter regarding which this
application has been made is not pending before any court of law or
any other authority or any other Bench of the Tribunal.

9. PARTICULARS OF THE BANK DRAFTS :

i)Name of Bank on which drawn: Andhra Bank, Nilakantha Nagar
Branch, Berhampur.
ii) Demand Draft No.
iii)Date of Demand Draft : Dt.
iv) Amount : Rs.32,000/-
10. DETAILS OF INDIEX :
And index in duplicate containing the details of the documents to be
relied upon is enclosed.

11. LIST OF ENCLOSURES :

As per Index, the applicant bank further reserves the right to produce
such other documents as required and necessary during the course of
the proceedings.

SCHEDULE – A PROPERTY
Description of property mortgaged by the Defendant No.3 Siba Sankar
Panda ,S/o Ramakrushna Panda (Owner of the property), Situated at Khata
Sl No-702/620, Plot No- 603/1837, Revenue Mouza-Kumari , Tahasil-
Purushottampur, Dist-Ganjam, area Ac 0.030 dec .
Boundary:
North- Aska Humma Road , South- Site of Surendra Panda , East- Site of
Bhaskar Sahu , West-Site of Bishnu reddy.

VERIFICATION
I, Sri. Subrat Kumar Sahu, aged about 32 years, S/o Dolamani Sahu,
Branch Manager, Andhra Bank, Nilakantha Nagar Branch, Nilakantheswar
Temple Road, Near Lingaraja Hall, Berhampur, Dist-Ganjam, Pin-760002
having the valid power of attorney of the bank do hereby verify that the
contents in Paragraphs-1 to 11 are true to the best of my knowledge and
based on official records maintained in the Branch and I have not
suppressed any material facts. I sign this verification on day of March,
2020..

Cuttack.
Date: .3.2020 Verificant.

To,
The Registrar, DRT, Cuttack