Bangalore District Court
Bank Of Baroda vs M/S S R Industries on 28 November, 2025
Com.OS.828/2025
KABC170019292025
IN THE COURT OF LXXXII ADDL.CITY CIVIL
SESSIONS JUDGE, COMMERCIAL COURT,
BENGALURU
(CCH-83)
PRESENT: SRI. VIDYADHAR SHIRAHATTI, LL.M.,
LXXXII ADDL.CITY CIVIL & SESSIONS
JUDGE,
BENGALURU.
Com.O.S.No.828/2025
Dated on this 28th Day of November 2025
BETWEEN:
Bank Of Baroda(Earlier Vijaya Bank)
A Body Corporate constituted by and under the Banking
Companies (Acquisition & Transfer of Undertakings) Act,
1970, Having Head Office At Baroda Bhavan, R C Dutt
Road, Alkapuri, Vadodara, Gujarat, And Interalia Branch
Office At Jalahalli Branch, Bangalore,
Rep By Its Chief Manager And PA Holder
Sri Venkata Subhash Vanka
S/O V Durgaprasad
Aged About 33 Years.
: PLAINTIFF
(Represented by Sri.Nagaraj N Damodar, Advovate.)
AND
1. M/S S R Industries
A partnership Firm,
Having Its Office At
Srilakshmi Complex, No.3/1,
7th Main Opp Monus Bakery,
MES Road Cross Bahubalinagar,
Jalahalli, Bengaluru-560 013.
Rep By Its Partners
1
Com.OS.828/2025
1.B Ramesh
S/O B Radhakrishna
2. Manju Vani
W/O B Ramesh
2. Mr. B Ramesh
S/o B Radhakrishna,
Aged about 45 years,
3:Manju Mani
W/o B Ramesh,
Aged about 41 years,
Both 2 and 3 are R/at:
#35/3, 2nd floor, Sushma Nilaya
Patel Narayanswamy Layout
Ramachandrapura'
Jalahalli Post
Bengaluru-560 013.
: DEFENDANTS
(Exparte)
Date of Institution of the suit 11.06.2025
Nature of the suit (suit on pro
note, suit for declaration & Suit for recovery of Money.
Possession, Suit for injunction
etc.)
Date of commencement of 23.09.2025
recording of evidence
Date on which judgment was 28.11.2025
pronounced
Total Duration Year/s Month/s Day/s
00 05 19
(VIDYADHAR SHIRAHATTI)
LXXXII Addl.City Civil & Sessions Judge,
Bengaluru.
2
Com.OS.828/2025
JUDGMENT
Suit for recovery of a total sum of Rs. 17,35,873.89ps(Rupees Seventeen Lakhs Thirty Five Thousand Eight Hundred Seventy Three and paise Eighty Nine Only) with interest at 8.75% p.a. and penal interest of Rs.2% p.a. from 29.05.2025 till realization.
2. The case of the plaintiff in brief is as under:-
The defendants have availed cash credit loan of Rs.5,00,000/- from plaintiff bank on 26.04.2010 under loan account No.89550500000084 agreeing to repay the same within 12 months with interest at 11.25% p.a. and also agreed to repay penal interest at 2% p.a. in case of default. Further at the request of defendants the said loan was renewed on 10.11.2011 and defendant No.2 and erstwhile partner Mr. G Suresh Babu were guarantors to the said loan. Defendant No.1 agreed to repay the same within one year with interest at 13.25% p.a. and also agreed to pay interest at 2% p.a. in case of default. Again as per request of defendants the loan is renewed on 10.06.2013 and enhanced to Rs.10,00,000/- and 3 Com.OS.828/2025 defendant No.2 and erstwhile partner Mr. G Suresh Babu were guarantors. Defendant No.1 had agreed to repay the same within one year with interest at 12% p.a. and 2% penal interest in case of default. Further the said Rs.10,00,000/- loan facility once again renewed on 23.12.2014 and defendant No.2 and erstwhile partner Mr. G Suresh Babu were guarantors. Defendant No.1 agreed to repay the same within one year along with interest at 12.05% and penal interest of 2% p.a. in case of default.
Further the said loan is renewed on 13.06.2016 and also reduced to Rs.8,00,000/- and defendant No.2 and erstwhile partner Mr. G Suresh Babu were guarantors. Defendant No.1 agreed to repay the said loan within one year along with interest at 11.45% p.a. and 2% of penal interest in case of default. Further the loan of Rs.8,00,000/- once again renewed on 30.12.2017 and defendant No.2 and erstwhile partner Mr. G Suresh Babu were guarantors. Defendant No.1 had agreed to repay the said loan within one year along with interest at 11.85% p.a. and 2% of penal interest in case of default. Again as on 15.03.2019 loan of Rs.8,00,000/- was renewed and defendant No.2 and defendant No.3 were 4 Com.OS.828/2025 guarantors. Defendant No.1 agreed to repay the same within one year along with interest at 11.35% p.a. and penal interest of 2% p.a. in case of default. Once again the said loan of Rs.8,00,000/- was renewed on 25.09.2020 and enhanced to Rs.10,00,000/- and defendant No.2 and 3 were guarantors. Defendant No.1 agreed to repay the loan within one year along with interest at 7.45% p.a. and penal interest at 2% p.a. in case of default. Further defendants were sanctioned covid loan of Rs.1,55,000/- on 24.03.2021 under A/c No.89550600001561 repayable in 36 equal monthly installments of Rs.4,305/- with interest at 8.75% p.a. and penal interest of 2% p.a. in case of default. However as agreed the defendants failed to clear the outstanding dues inspite of repeated demands and requests. Plaintiff bank initiated SARFAESI proceeding and issued legal notice dated 28.11.2021 calling upon the defendants to settle the outstanding amounts and inspite of it the defendants have not complied with the same. Together with interest the defendants as on the date of suit are liable to pay a sum of Rs.17,30,873.89ps with penal interest. The plaintiff instituted PIM proceedings in PIM No.59/2025 in which the 5 Com.OS.828/2025 defendants did not appear and the same was closed as a non-starter. Hence the suit.
3. On publication of summons in the newspapers the defendants have remained absent and have been placed ex-parte.
4. Chief Manager of the plaintiff bank examined himself as PW.1 and got marked documents at Exs.P.1 to P.61.
5. Heard the learned counsel for the plaintiff bank and perused the records.
6. Now the points that arise for my consideration are:
POINT NO.1: Whether the plaintiff bank is entitled for recovery of the suit claim as prayed?
POINT NO.2: What order or decree?
7. My answers to the above points are as under:
Point No.1:- In the Affirmative, Point No.2:- As per the final Order for the following;
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Com.OS.828/2025 REASONS
8. POINT No.1:-The Chief Manager of the plaintiff bank has examined himself as PW.1 and got marked documents at Ex.P.1 to P.61. Ex.P.1 is the PIM report dtd.07.04.2025.
Ex.P.2 is the Loan Application dtd.05.03.2010. Ex.P.3 is the Sanction letter dtd.26.04.2010. Ex.P.4 is the On demand promissory note. Ex.P.5 is the Letter of repayment. Ex.P.6 is the Agreement for demand cash credit against hypothication of stocks and book debts dtd.26.04.2010. Ex.P.7 is the Loan Application dtd.11.07.2011. Ex.P.8 is the Sanction letter dtd.10.11.2011. Ex.P.9 is the Supplementary Agreement dtd.10.11.2011. Ex.P.10 is the Letter of Guarantee dtd.10.11.2011. Ex.P.11 is the Acknowledgment of liablity dtd.10.11.2011. Ex.P.12 is the Loan Application dtd.15.05.2013. Ex.P.13 is the Sanction letter dtd.26.05.2013. Ex.P.14 is the On demand promissory note dtd.10.06.2013. Ex.P.15 is the Letter of repayment dtd.10.06.2013. Ex.P.16 is the Supplementary Agreement dtd.10.06.2013. Ex.P.17 is the Letter of Guarantee dtd.10.06.2013. Ex.P.18 is the Loan Application dtd.15.09.2014. Ex.P.19 is the Sanction letter dtd.23.12.2014. Ex.P.20 is the On demand promissory 7 Com.OS.828/2025 note dtd.23.12.2014. Ex.P.21 is the Letter of Repayment dtd.23.12.2014. Ex.P.22 is the Agreement for demand cash credit against Hypothication of stocks and books debt dtd.23.12.2014. Ex.P.23 is the Letter of Guarantee dtd.23.12.2014. Ex.P.24 is the Letter for renewal dtd.03.06.2016. Ex.P.25 is the Sanction letter dtd.13.06.2016. Ex.P.26 is the On demand promissory note dtd.13.06.2016. Ex.P.27 is the Letter of repayment dtd.13.06.2016. Ex.P.28 is the Partners liablity letter dtd.13.06.2016. Ex.P.29 is the Supplementary Agreement dtd.13.06.2016. Ex.P.30 is the Letter of Guarantee dtd.13.06.2016. Ex.P.31 is the Letter of Renewal dtd.29.12.2017. Ex.P.32 is the Sanction letter dtd.30.12.2017. Ex.P.33 is the Supplementary Agreement dtd.30.12.2017. Ex.P.34 is the Letter of Guarantee dtd.30.12.2017. Ex.P.35 is the Acknowledgment of Liability dtd.17.08.2017. Ex.P.36 is the Letter of Retirement dtd.11.12.2018. Ex.P.37 is the Letter for change of Partner dtd.12.12.2018. Ex.P.38 is the Letter of Renewal dtd.15.03.2019. Ex.P.39 is the Sanction letter dtd.15.03.2019. Ex.P.40 is the On demand promissory note dtd.15.03.2019. Ex.P.41 is the Partnership liability 8 Com.OS.828/2025 letter dtd.15.03.2019. Ex.P.42 is the Loan agreement cum hypothication deed for priortiy / non priority section advances dtd.15.03.2019. Ex.P.43 is the Supplementary Agreement dtd.15.03.2019. Ex.P.44 is the Letter of Guarantee dtd.15.03.2019. Ex.P.45 Acknowledgment of liability dtd.15.03.2019. Ex.P.46 is the Letter of Renewal dtd.10.07.2020. Ex.P.47 is the Loan Application dtd.25.09.2020. Ex.P.48 is the Sanction letter dtd.25.09.2020. Ex.P.49 is the On demand promissory note for partnership firmdtd.25.09.2020. Ex.P.50 is the Supplemental composite Agreement of hypothication of goods, book debts, movable machineries and vehicles dtd.25.09.2020. Ex.P.51 is the General form of Guarantee dtd.25.09.2020. Ex.P.52 is the Letter of partnership dtd.25.09.2020. Ex.P.53 is the Letter of Continuing security dtd.25.09.2020. Ex.P.54 is the Confirming and acknowledgment of Debt dtd.25.09.2020. Ex.P.55 is the Letter of acknowledgement dtd.29.11.2021. Ex.P.56 is the Notice U/s.13(2) SARFAESI Act, 2002, dtd.28.12.2021. Ex.P.57 is the 04 Postal receipts. Ex.P.58 is the Unserved postal cover (2 in numbers). Ex.P.59 is the Statement of Account extract. Ex.P.60 is the Statement of Account 9 Com.OS.828/2025 extract. Ex.P.61 is the Certificate U/s.2A(b) and 2A(c) of Bankers book of evidence Act, 1881.
9. As mentioned above the defendants have not appeared upon publication of summons against them in the news paper and have been placed ex-parte. The availment of the loan by the defendant is substantiated with the documents produced at Ex.P.2 to P.55. Defendants neither complied nor replied to the legal notice sent on 28.12.2021. The certified account extract produced at Ex.P.59 and P.60 discloses the suit claim being the outstanding amount due by the defendants. As evidence of plaintiff bank is unchallenged the plaintiff bank is entitled for recovery of the suit claim from the defendants as prayed. Accordingly I answer Point No.1 in the Affirmative.
10. POINT NO.2:- For the aforesaid reasons, I proceed to pass the following;
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Com.OS.828/2025 ORDER The suit of the plaintiff is decreed with cost.
The Defendants are jointly and severally liable to pay to the plaintiff bank a sum of Rs. 17,35,873.89 with interest at 8.75% p.a. and penal interest of Rs.2% p.a. from 29.05.2025 till realization.
Draw decree accordingly.
Office to soft copies of the judgment on the e-mail Id's of the respective parties if furnished.
[Typed by Stenographer directly on the computer, corrected and signed by me then pronounced in the Open Court, dated this the 28st day of November 2025] (VIDYADHAR SHIRAHATTI) LXXXII Addl.City Civil & Sessions Judge, Bengaluru.
ANNEXURE LIST OF DOCUMENTS PRODUCED ON BEHALF OF THE PLAINTIFF ALONG WITH PLAINT PW-1 Mr. Venkata Subhash Vanka LIST OF DOCUMENTS EXHIBITED ON BEHALF OF THE PLAINTIFF Ex.P.1 PIM report dtd.07.04.2025 11 Com.OS.828/2025 Ex.P.2 Loan Application dtd.05.03.2010 Ex.P.3 Sanction letter dtd.26.04.2010 Ex.P.4 On demand promissory note Ex.P.5 Letter of repayment Ex.P.6 Agreement for demand cash credit against hypothication of stocks and book debts dtd.26.04.2010 Ex.P.7 Loan Application dtd.11.07.2011 Ex.P.8 Sanction letter dtd.10.11.2011 Ex.P.9 Supplementary Agreement dtd.10.11.2011. Ex.P.10 Letter of Guarantee dtd.10.11.2011 Ex.P.11 Acknowledgment of liablity dtd.10.11.2011. Ex.P.12 Loan Application dtd.15.05.2013 Ex.P.13 Sanction letter dtd.26.05.2013 Ex.P.14 On demand promissory note dtd.10.06.2013 Ex.P.15 Letter of repayment dtd.10.06.2013 Ex.P.16 Supplementary Agreement dtd.10.06.2013 Ex.P.17 Letter of Guarantee dtd.10.06.2013 Ex.P.18 Loan Application dtd.15.09.2014 Ex.P.19 Sanction letter dtd.23.12.2014 Ex.P.20 On demand promissory note dtd.23.12.2014. Ex.P.21 Letter of Repayment dtd.23.12.2014 12 Com.OS.828/2025 Ex.P.22 Agreement for demand cash credit against Hypothication of stocks and books debt dtd.23.12.2014 Ex.P.23 Letter of Guarantee dtd.23.12.2014. Ex.P.24 Letter for renewal dtd.03.06.2016 Ex.P.25 Sanction letter dtd.13.06.2016 Ex.P.26 On demand promissory note dtd.13.06.2016 Ex.P.27 Letter of repayment dtd.13.06.2016 Ex.P.28 Partners liablity letter dtd.13.06.201 Ex.P.29 Supplementary Agreement dtd.13.06.2016 Ex.P.30 Letter of Guarantee dtd.13.06.2016. Ex.P.31 Letter of Renewal dtd.29.12.2017 Ex.P.32 Sanction letter dtd.30.12.2017 Ex.P.33 Supplementary Agreement dtd.30.12.2017 Ex.P.34 Letter of Guarantee dtd.30.12.2017 Ex.P.35 Acknowledgment of Liablity dtd.17.08.2017 Ex.P.36 Letter of Retirement dtd.11.12.2018 Ex.P.37 Letter for change of Partner dtd.12.12.2018 Ex.P.38 Letter of Renewal dtd.15.03.2019 Ex.P.39 Sanction letter dtd.15.03.2019 Ex.P.40 On demand promissory note dtd.15.03.2019. Ex.P.41 Partnership liability letter dtd.15.03.2019 13 Com.OS.828/2025 Ex.P.42 Loan agreement cum hypothication deed for priortiy / non priority section advances dtd.15.03.2019 Ex.P.43 Supplementary Agreement dtd.15.03.2019 Ex.P.44 Letter of Guarantee dtd.15.03.2019 Ex.P.45 Acknowledgment of liability dtd.15.03.2019 Ex.P.46 Letter of Renewal dtd.10.07.2020 Ex.P.47 Loan Application dtd.25.09.2020 Ex.P.48 Sanction letter dtd.25.09.2020 Ex.P.49 On demand promissory note for partnership firmdtd.25.09.2020 Ex.P.50 Supplemental composite Agreement of hypothication of goods, book debts, movable machineries and vehicles dtd.25.09.2020.
Ex.P.51 General form of Guarantee dtd.25.09.2020. Ex.P.52 Letter of partnership dtd.25.09.2020 Ex.P.53 Letter of Continuing security dtd.25.09.2020 Ex.P.54 Confirming and acknowledgment of Debt dtd.25.09.2020.
Ex.P.55 Letter of acknowledgement dtd.29.11.2021. Ex.P.56 Notice U/s.13(2) SARFAESI Act, 2002, dtd.28.12.2021.
Ex.P.57 04 Postal receipts.
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Com.OS.828/2025 Ex.P.58 Unserved postal cover (2 in numbers) Ex.P.59 Statement of Account extract Ex.P.60 Statement of Account extract Ex.P.61 Certificate U/s.2A(b) and 2A(c) of Bankers book of evidence Act, 1881.
LIST OF WITNESSES EXAMINED ON BEHALF OF THE DEFENDANT NIL LIST OF DOCUMENTS EXHIBITED ON BEHALF OF THE DEFENDANT NIL (VIDYADHAR SHIRAHATTI) LXXXII Addl.City Civil & Sessions Judge, Bengaluru.
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