N PENCHALA NAIDU Vs. SYNDICATE BANK

JUDGEMENT

(1.) A loan was advanced by the Syndicate Bank (for short, 'the Bank') (1st respondent) to M/s. Srinivasa Stone Crushers ( borrower) on the basis of security created by the borrower of Ac. 0. 9 gts. in Survey No. 73/E, Acs. 1. 26 gts in Survey No. 74/E, Acs. 0-32 1/2 gts in Survey No. 74/E and Acs. 1. 17 gts in Survey No. 75/E of Hyderpur Village, Bheemanapally Gram Panchayat, Pochampally Mandal, Nalgonda District, Telangana State.

(2.) The loan installments were not paid, and it was classified as 'Non-Performing' asset.

(3.) On 09. 02. 2018, an amount of Rs. 67,06,290. 87 along with interest @ 19. 5% from 08. 09. 2011 was due from the borrower.