The Debts Recovery Tribunal allowed the bank's application for recovery of dues arising from default on a home loan and insurance coverage. The tribunal adjusted for partial payments made by the borrowers and granted a recovery certificate.
Recovery certificate issued for adjusted principal of Rs.1,02,55,443/-; application allowed with costs.
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 15TH DAY OF MARCH'2024
PRESENT: SRI GUMMADI GOPICHAND, PRESIDINGOFFICER
OA.No.315 ot 2O23
Between:
State Bank of India, Stressed Assets Recovery Branch(SARB), 2nd floor, TSRTC, Commuter Amenity Centre, Koti, Hyderabad. Represented by its Chief Manager
Applicant
VERSUS
(OA.No.31sl2023)
Counsel for the Parties: For the Applicant Sri G. Prabhakar Sarma For the Defendants Exparte
ORDER
vide arrangement aut"o*.og.zifu) The defendants created equitable rty on 20.10.2018 !r l-6 '.fr"tutB$n&[lon"a,J ,'d. ,o -Q.'?r Q,t*#
(oA. No.31s/2023)
and deposited regd sale deed document No.2t234/2018 dated 06.10.2018. After availing the loan facilities, the defendants failed to comply the terms of sanction, hence the applicant bank was constrained to classify the account as NPA and issued legal notice dated 23.07.2023. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.
Q;t-".,uP
(oA.No.31s/2023)
view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants and hence the Applicant Bank is entitled to recover the claim made in the OA with future interest and costs.
(oA. No.31sl2023)
(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 15th day of March'2024)
sdl_ (c. GoPTCHAND) PRESID!NG OFFICER
"&-<br>: 15llrnrtrzt :
k",-tW
rlue coPY
L'e .f^-tL_-
,r|:;';,i;E{;d'*
1 issue framed by the court
Whether the Applicant Bank is entitled to recover the claimed principal amounts, interest, and costs against the defaulting borrowers in the original obligation?
State Bank of India
Sri Madipelly Madhu Kumar
Sri Madipelly Mohan Kumar
Sri Madipelly Krishna Kumar
G.GOPICHAND
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
