STATE BANK OF INDIA VIZINAGARAM BRANCH Vs. SIRI POULTRY COMPLEX GEDDAPETA VILLAGE PADMANABHAM REVENUE MANDAL VISAKHAPATNAM REVENUE MANDAL VISAKHAPATNAM DISTRICT

JUDGEMENT

(1.) This civil revision petition is filed under Article 227 of the Constitution of India by the State Bank of India, Vizianagram Branch, Vizianagaram with a prayer to withdraw OS No.34 of 2003 on the file of the learned IV Additional District Judge Visakhapatnam, filed by the Respondents 1 to 3 herein, and transfer the same for its enquiry and trial along with OS No.132 of 2002 (Old OA. No.376 of 2000), on the file of the Debts Recovery Tribunal, Visakhapatnam (for short 'the Tribunal').

(2.) In order to consider as to whether such a relief could be granted, it may be just and necessary to notice a few relevant facts leading to filing of this civil revision petition.

(3.) The first respondent herein is alleged to have availed the agricultural term loan of Rs.60.00 lakhs to establish a poultry layer unit of 40,000 layer birds at Gaddapeta Village, Padmanabham Mandal, Visakhapatnam from the petitioner-Bank after executing the required security documents on 11-6-1996. Respondents 2 to 4 herein stood as guarantors for the said loan. The first respondent is alleged to have committed default in repaying the loan amount together with interest thereon. The petitioner-Bank accordingly filed OA No.376 of 2002 on 11-7-2000 before the Debts Recovery Tribunal, Hyderabad which later stood transferred to the Debts Recovery Tribunal, Visakhapatnam and renumbered as OA No.132 of 2002, for recovery of Rs.1,06,29,497/- together with future interest and costs.