P. NAVEEN RAO, NAGESH BHEEMAPAKA
State Bank of India, Stressed Assets Management Branch-I, rep by its Assistant General Manager – Appellant
Versus
Deputy Commercial Tax Officer, Jogipet Unit, Office of Medak Circle, Nizamabad Division – Respondent
ORDER :
(P. Naveen Rao, J.)
1. In W.P.No.42450 of 2018, petitioner-Bank is aggrieved by the orders passed by the Recovery Officer, Debts Recovery Tribunal in rejecting the application to direct the respondents to comply the provisions under Section 31-B of Recovery of Debts and Bankruptcy Act, 1993 (for short, ‘Act, 1993’) and to enforce the recovery order, which decision is affirmed by the Debts Recovery Tribunal. In W.P.No.41691 of 2018, petitioner-Bank is challenging the attachment order issued by the Deputy Commercial Tax Officer (1st respondent) attaching the secured asset.
2. The third respondent borrowed money from the petitioner bank and respondent Nos.4 to 8 stood as guarantors for the loan facilities availed by the third respondent. The loan facilities extended to third respondent were secured by way of mortgaging different properties including the property admeasuring 9,317 square yards with RCC building and sheds situated in Sy.No.15, Plot No.7-A, Gaddapotharam Village, Jinnaram Mandal, Sangareddy District Telangana State.
3. Holding that the third respondent failed to discharge the debt, the bank declared the loan account of the third respondent as non-performing asset
State Bank Of India, Kachiguda
Maharashtra vs Bharat Shanti Lal Shah &Ors., (2008) 13 SCC 5, on 1 September
Shri Swaran Singh v. Shri Kasturi Lal
Bank of Bihar vs. State of Bihir
Dena Bank vs. Bhikhabhai Prabhudas Parekh & Co.
Punjab National Bank Vs. Union of India
Bank of Bihar v. State of Bihar & Ors. AIR 1971 SC 1210
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