Allowed

State Bank of India v. Sri. Anishetty Prabhakar

DRT17 Nov 2023OA/230/2022

Case brief

AI extract

What is this about?

This order by the Delhi Debts Recovery Tribunal at Hyderabad allowed an Original Application filed by State Bank of India for recovery of Rs. 21,95,712 and consequential interest from a husband and wife who defaulted on a home loan. The court found the bank had established its claim through official考察 and documents.

What did the court decide?

Respondents jointly and severally liable to pay Rs. 21,95,712 with future interest @ 10.15% p.a. from 19.07.2022; bank entitled to proceed against mortgaged property and other assets.

State Bank of India versus Sri. Anishetty Prabhakar — Contract and Commercial Disputes | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 17TH DAY OF NOVEMBER' 2023

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PRESENT: SRI GUMMADI GoPIcHAND, PRESTDING oFFICER OA.No.23O of 2022

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Between :

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State Bank of India, Retail Assets & Small Medium Enterprises, City Credit Centre, (RASMECCC), Warangal zonal office, H.No.9-1-2, lpN Road, Warangal - 506 002. Represented by its Chief Manager

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... Applicant

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VERSUS

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Sri Anishetty^prabhakar, S/o Vistari, aged about 43 yea rs/ Occ: Private Employee, H.No.3-74-6t3/7 , KUC road, Road no.7, Hanumakonda - 506 OO9.

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2, Smt Anishetty priyanka, w/o Prabhakar, aged about 37 years, occ: business, H.No.3-t4-6t3/7 , KUC road, Road no.7, Hanumakonda - 506 009.

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Defenda nts

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Counsel for the^pa rties:

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For the Applicant For the Defenda nts

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(OA. No.230/2022 )

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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.21,95,712l_ (Rupees Twenty One Lakhs Ninety Five thousand Seven hundred and Twelve only) (Rs.21,55,975l- + Rs.39,737/_) with future interest @ 10.15o/o p.a with monthry rests from 19.07.2022 tiil the date of rearization and in defaurt for sare of mortgaged property as described in the schedure to oA.

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2, As per the averments in the application, the Applicant Bank states that the defendants herein are Husband and wife who avaired home loan of Rs'23.00 rakhs and premium of Home roan insurance coverage of Rs.75,000/- vide arrangement letter dated 07.ll.ZOl4. To secure repayment of loan amounts, the defendants executed home loan application, arrangement retter and memorandum of roan agreement for home roan dated 07.11.2014. The defendants created equitabre mortgage of schedule property in favour of applicant bank on 07.t7.2014 by depositing regd sale deed document No.4B6O/2014. After availing the loan facilities, glsndants faited to compty the terms oF sa nction, hence the account as NpA on notice dated

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(oA. No.230/2022)

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L2.tL2027, Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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Shri r' Ranadhir singh fired vakarath for defendants but faired to fire Written Statement.

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sri Ganji Prasad, chief Manager of the Appricant Bank examined himserf as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.8.

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Heard the Ld. Counsel for the Applicant Bank.

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6, 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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counsel for defendants fired vakarath but did not fire written statement. 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.B. In view of the above, I hold that the Applicant Bank has estabrished their craim made in the oA against the Defendants and hence the Appricant Bank is entitred to recover the craim made in the OA with future interest and

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,5a

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(OA. No.230/2022)

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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.21,95,lLZ/- (Rupees Twenty One Lakhs Ninety Five thousand Seven hundred and Twelve only) (Rs.21,55,975l- + Rs.39,737/-) with future interest @ 10.15olo p.a from 79.O7.2022 ill the date of realization ;

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The Applicant Bank is entitled to proceed against the schedule mentioned mortgaged property as described in the OA.

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the Applicant Bank is also entifled to proceed against the person and properties of defendants towards realization of the debt due.

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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 courtffi (G. GOPtcHAND)GOPtcHAND)

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State Bank of India v. Sri. Anishetty Prabhakar

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sri. Anishetty Prabhakar

Case brief

What is this about?

What did the court decide?

What the court decided

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