Allowed

State Bank of India v. Smt Sai Krupa Thummala

DRT14 Nov 2023OA/168/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Applicant Bank's Original Application for recovery of Rs. 46,51,507/- from Defendants despite their absence, finding that the bank established its claim through documentary evidence and a manager's examination.

What did the court decide?

Defendants directed to pay Rs. 46,51,507/- with future interest; Applicant entitled to proceed against mortgaged properties.

State Bank of India versus Smt Sai Krupa Thummala — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 14TH DAY OF NOVEMBER'2023

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PRESENT: SRI GUMMADI GOPIcHAND, PRESIDING oFFIcER

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OA.No.168 of 2023

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Between:

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State Bank of India, Asset Recovery Management Bra nch (SARB-2), I-8-563/7, RTC cross Roads, Opp Sandhya theatre, l.t floor, Chikkadpally, Hyderabad - 5OO O2O. Represented by its Chief Manager

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Ap p lica nt

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VERSUS

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Smt Sai Kru pa Thummala, w/o Sri Rajashekar Rao, aged major, female, H.No.t-9-295/27 / A, Vidyanagar, backside Red Cross blood bank, Hyderabad - 500 045.

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Sri Rajasheka r Rao Chigurupati, S/o Mr. C. Krupakar Rao, Aged 41 years, male, H.No.1-9-29s/27 /A, Vidyanagar, backside Red Cross blood bank, Hyderabad - 500 045.

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DeFenda nts

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Counsel for the Pa rties:

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For the Applicant

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For the Defendants

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Sri C. Prabha Expa rte 1 4 fjlll/^1Fr!

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(OA.No.168/2023)

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ORDER

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The Applicant Bank fired the present oA against Defendants for recovery of a total sum of Rs.46,S1,5O7,/_ (Rupees Forty Six !akhs Fifty One thousand Five hundred and Seven only) i.e.,

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a) A sum of Rs.25,43,871/- under loan A/c. No.38402401187 wlth further interest @ 9.15olo p.a with monthly rests from date of application till the date of realization ;

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b) A sum of Rs.95,357l- under loan A/c. No.38409167002 with further interest @ 8.85o/o p.a with monthly rests from date of application till the date of realization ;

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c) A sum of Rs.20,12,279/- under loan A/c. No.3B4O2532BO2 with further interest @ 8.00o/o p.a with monthry rests from date of application till the date of realization ;

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and in default for sale of mortgaged properties as described in the schedule to OA.

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As per the averments in the application, the Applicant Bank states

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that the defendants No.1 & 2 availed home loan of Rs.20,20,000/-

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through Arrangement letter dated 18.04.2019, To secure due repayment of home loan, the defendants executed -memorandum of loan agreement for home loa nts a lso availed Insurance loan of Rs.95,310/uitable mortgage on

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ldNn'tln?l^* Qih... {iJj<sup>-'r4,,. - 'i^-**-9 ".lO '{..-}^-. -.-L -t :ltil';-' ;'-'/

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(OA. No.168/2023)

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28.05.2019 and extended mortgage to the top up loan of Rs.22.OO lakhs. After avairing the roan facirities, the defendants faired to compry the terms of sanction, hence the appricant bank was constrained to classify the account as NpA and issued regar notice dated 20.04.2023. Inspite of several requests and demands, the defendants did not crear the outstanding. Hence this OA.

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Defendants 1 and 2 called absent and set exparte on 12,O9.2023.

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Shri S. Rajender^prasad, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.17.

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arise for consideration is whether the Applicant Bank is

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entitled for the claim made in the OA against the Defendants as prayed for?

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Defendants called absent and set exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited rerevant documents as Ex.A1 to A.17, In view of the above, I hold that the Appli established their claim made in the OA against the Dqf.endants and' the Applicant Bank is

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(oA.No.168/2023)

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entitled to recover the claim made in the oA with future interest and costs.

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B. In the result, the present OA is allowed with costs, as under:

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The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.46,51,507l- (Rupees Forty Six lakhs Fifty One thousand Five hundred and Seven only) i.e.,

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a) A sum of Rs.25,43,871/- under loan A/c. No.38402401187 with further interest @ 9.15% p.a from date of application till the date of realization ;

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b) A sum of Rs,95,357l- under loan A/c. No.38409167002 with further interest @ B.B5o/o p.a from date of application till the date of realization;

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c) A sum of Rs.20,12,279/- under loan A/c. No.38402532802 with further interest @ 8.00o/o p.a from date of application till the date of realization ;

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The Applicant Bank is entitred to proceed against the mortgaged properties as described in the schedules to OA.

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the Applicant Bank is also against the person and properties of defendants debt d ue.

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J 14t, Nqu nn^* ei?Be ^$ ii?,n^,,,,.,.-oq$9 tlT.ieg

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(OA. No.158/2023)

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The Applicant Bank is entitled to the costs of the OA.

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The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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Issue Recovery certificate accordingly.

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Communicate a copy of the order to the parties concerned.

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(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 14th day of Nov, 2023)

sd/-

(G. GOPTCHAND)

PRESIDING OFFICER

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TRUE COPY

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State Bank of India v. Smt Sai Krupa Thummala

Case brief

What is this about?

What did the court decide?

State Bank of India v. Smt Sai Krupa Thummala

Case brief

What is this about?

What did the court decide?

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