Allowed

State Bank of India v. Mr. G. Devender

DRT25 Jul 2024OA/197/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Hyderabad allowed an Original Application filed by State Bank of India for recovery of Rs. 21,30,956.49 with future interest against a defendant who defaulted on personal loan terms, having declared the account NPA.

What did the court decide?

Defendant declared liable to pay Rs. 21,30,956.49 with future interest; recovery certificate issued; Bank entitled to costs and to proceed against properties.

State Bank of India versus Mr. G. Devender — Banking and Recovery | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 25TH DAY OF JULY'2024

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PRESENT: sRI GUMMADI GoPICHAND, PRESIDING oFFIcER

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OA.No.197 ot 2024

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Between:

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State Bank of India, Stressed Assets Recovery Branch_II, Chikkadpally, Hyderabad. Rep by its Chief Manager

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Applicant

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VERSUS

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Mr. G. Devender, S/o Late Mr. G. pentaiah, Aged 42 years, occ: service, 1-5-31, Budvel, Rajendranagar, Ranga Reddy - 500 030.

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Defendant

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Counsel for the parties:

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For the Applicant

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For the Defendant

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Sri A.M. Kiran Kumar Exparte

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ORDER

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1' The Appricant Bank Fired the present oA against Defendant for recovery of a total sum of Rs.21,3o,956.49ps (Rupees Twenty One lakhs Thirty Thousand Nine Hundred Fifty six and paise

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Forty nine only) with future i .o/o^{p.a with monthly} rests from date of applicatio oaffir e3 5

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(OA.No.197l2024)

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2' As per the averments in the apprication, the Appricant Bank states that defendant avaired personar roan of Rs.22,g4,200/- vide retter of arrangement dated 05.L2.2022. The defendant agreed to repay in 72 monthry instarments from 05.01.2023 and executed personar agreement and irrevocabre standing instruction to secure the personar roan rimit. After avairing the loan facirities, the defendant failed to comply the terms of sanction, hence the applicant bank was constrained to crassify the account as NpA on 03.09.2023 and issued regar notice dated 02.04.2024. Insprte of severar requests and demands. the defendant did not clear the outstanding. Hence this OA.

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Defendant called absent and set exparte on 02.07.2024.

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sri JeevanMishra, Manager of the Applicant Bank examined himserf as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.B.

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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 Appricant Bank is entitled for the claim made in the OA against the Defendant as prayed for?

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Defendant called abse substantiate the case

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of the Applicant kPAW.1, Applicant Bank was examined and he as Ex.A1 to A.8. In

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s$*,',""-t€

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lO^A.No.1,97 /20241

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view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendant and hence the Applicant Bank is entiUed 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: The Defendant is riabre to pay to the Appricant Bank a totar sum of Rs.21,3O,955.49ps (Rupees Twenty One lakhs Thirty Thousand Nine Hundred Fifty six and paise Forty nine only )with^{future interest} @ 13.650lo p.a from date of application till the date of realization;

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The Applicant Bank is also entitled to proceed against the person and properties of defendant 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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(oi by her, corrected, signed and pronounced by me in the open
cou , 2024)
d.
&
* sd/-
25JULMI (G. GOPTCHAND)GOPTCHAND)

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sd/(G. GOPTCHAND)GOPTCHAND)

State Bank of India v. Mr. G. Devender

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mr. G. Devender

Case brief

What is this about?

What did the court decide?

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