Allowed

State Bank of India v. Mr. Eedara Venkatesh

DRT5 Nov 2024OA/294/2024

Case brief

AI extract

What is this about?

DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD allowed the OA filed by the State Bank of India against the respondent for recovery of outstanding dues of Rs.25,17,302/- along with future interest and costs, holding that the bank established its claim through documentary evidence.

What did the court decide?

Recovery of total sum of Rs.25,17,302/- with future interest and costs; issuance of recovery certificate.

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

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THrs rHE 5rH DAy oF NovEMBER, zo24

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PRESENT: SRI GUMMADI GoPICHAND, PRESIDING oFFICER

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OA,No.294 ol 2OZ4

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Between :

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State Bank of India, Stressed Asset Recovery Branch, SARB-2, 1-g-563/1, 1st floor, Opp Sandhya Theatre, RTC "X" Roads, chikkadpally, Hyderabad, Telangana State. Represented by its Chief Manager

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Applicant

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VERSUS

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1, Mr. Eedara Venkatesh, s/o Guravaiah, aged 55 years, male, H.No.3-15, Bheemavarm village, Vemsoor, Khammam, Telangana - 507 301.

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The Head Master, ZPHS Dammapeta, Bhadradri, Kothagudem District - 507 306.

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The Head Master, ZPSS Yellampeta, Warangal - 506 315.

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(defendants No.2 and 3 *
are proforma parties) oerendants
0 5 t'l0U m' -
ii
r$
Counsel for the parties:
"Won..
For the Applicant
For the Defendants
Exparte

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(oA.No.29412024)

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ORDER

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The Applicant Bank filed the present oA against Defendant No.1 for recovery of a total sum of Rs.25,17,302/- (Rupees Twenty Five Lakhs Seventeen Thousand Three hundred and Two only) i.e., a sum of Rs.14,86,528/- under loan A/c. No.40745796732 with further interest @ 11.10o/o p.a with monthly rests from date of application till the date of realization and a sum of Rs.lO,3O,774/_ under loan A/c. No.41136339476 with further interest @ 12.10 o/o p.a with monthly rests from date oF application till the date of realization.

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As per the averments in the application, the Applicant Bank states that defendant No.1 availed personal loan of Rs.14,99,900/- under the scheme of Xpress Credit on 25.01.2022 and agreed to repay the loan amount in 72 EMIs @ Rs.28,627l-. Subsequenfly the defendant no.1 again availed personal loan of Rs.9,45,000/- vide letter of agreement dated L9.07.2022. After availing the loan facilities, the defendant failed to comply the terms of sanction, hence the applicant bank was constrained to classify the account as NpA and issued legal notice OateOr2fffi of several req u ests and demands, the defeffits diffi outstanding. Hence this OA. $ 5 !$lJrfl 'r'tl 2 -:. ).

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(oA.No.294 /2024)

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Defendant No.1 called absent and set exparte on 30.09.2024. Defendants No.2 and 3 are proforma parties and no relief claimed against them.

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Sri Jeeban Mishra, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.9.

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

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Defendant No.1 remained exparte. Defendants 2 & 3 are proforma parties and no relief claimed against them. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited relevant documents as Ex.A1 to A.9. In 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 entitled to recover the claim made in the OA with future interest and costs.

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B. In the result, the

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costs, as under: 0

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lOA.No.294l2o2al

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The Defendant No.1is liable to pay to the Applicant Bank a total sum of Rs.25,17,3O2l- (Rupees Twenty Five Lakhs Seventeen Thousand Three hundred and Two only) i.e., a sum of Rs.14,86,528/- under loan A/c. No.40745796732 with further interest @ 11.10o/o p.a from date of application till the date of realization and a sum of Rs.lO,3O,774/- under loan A/c. No.41136339476 with further interest @ 12.10 9o 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 No.1 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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t2. 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 sth day of Nov, 2024)

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sdl_ (G. GOPTCHAND) 8\ PRESIDING OFFICER .^05ilo',m rii

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State Bank of India v. Mr. Eedara Venkatesh

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mr. Eedara Venkatesh

Case brief

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What did the court decide?

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