Debt Recovery Tribunal reviewed an ex-parte application for recovery of a personal loan debt. The court held the bank’s claim established via documentary evidence and ordered the Defendant to pay the outstanding principal, interest, and costs.
Recovery of Rs. 21,44,814/- with interest directed; Recovery certificate issued.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD DATED THIS THE 2OTH DAY OF DECEMBER' 2024
PRESENT: sRI GUMMADI GoPICHAND, PRESIDING oFFIcER OA.No.225 ot 2024
Between:
State Bank of India, Stressed Assets Recovery Branch_II, 1-8-563/1, 1_'t floor, Opp Sandhya .r.neatre,RTCCross Roads, Chikkadoallv. Hyderabad, Telangana State.--r-" ' ' Represented by its Chief Manager
Applicant
VERSUS
Sri Mittapalli Sailaia. W/o Late Mittapaili Lakshman Rao, H.No.5-t25/2/t02, plot no.s 59 and 60, V tower b.ehind MIM Function hall, Va na stha lipu ra m, Ranga Reddy district.
DeFendant
Counsel for the parti For the Applicant tB. Ramana Kumari For the Defendan * rte 2 0oEc zml t 1. The Applicant Present OA against Defendant for recovery of a total sum of Rs.21,44,g14l_ (Rupees Twenty one Lakhs Forty four Thousand Eight hundred and fourteen only) (Rs.L4,22,777 + Rs.7,22,OgZ/_) with current and future interest
(oA.22s/2024)
@ 13.30% p.a with monthly rests from 22.05.2024 till the date of realization.
2' As per the averments in the apprication, the Appricant Bank states that defendant availed personal loan of Rs.15.00 lakhs vide Arrangement letter dated 28.03.2022, and agreed accepted the terms and conditions of the sanction. The defendant executed personal loan agreement dated ZB.O3.2O2Z. After availing the loan facirity' the defendant faired to compry the terms of sanction, hence the appricant bank was constrained to crassify the account as NpA and issued legal notice dated 25.04.2024. Inspite of several requests and demands, the defendant did not crear the outstanding. Hence this OA.
(oA.22sl2024\
II"P:l;ltranscribed by her, corrected,signedand pronounced by me in the open &\20t"day of Dec,2024</sup>
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IF, #,-+t
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sd/(c. GoPtcHAND) PRESIDING OFFICER
2 issues framed by the court
Whether the Applicant Bank has established its claim for recovery of dues against the Defendant.
Whether DAC enforceability of the recovery order and direction for issue of recovery certificate.
State Bank of India
Gummadigopichand
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
