Allowed

State Bank of India v. Sri Gopala Krishna Devulapalli

DRT1 Apr 2024OA/34/2024

Case brief

AI extract

What is this about?

This order adjudicates an Original Application filed by State Bank of India for recovery of a defaulted home loan amount of Rs.37,09,486/-. The Tribunal, on its own motion where the defendant was absent, held that the bank had established its claim. Consequently, the court allowed the OA, directing the defendant to pay the principal, future interest, and costs, and authorizing proceedings against

What did the court decide?

The Applicant Bank was allowed the OA with costs. The Defendant is liable to pay Rs.37,09,486/- along with future interest and costs, and the Bank is entitled to proceed against mortgaged and defendan

State Bank of India versus Sri Gopala Krishna Devulapalli — Execution and Attachment | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL.I^{AT HYDERABAD}

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DATED THrs rHE lsr DAY oF APRrL'²⁰²⁴

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PRESENT: SRI GUMMADI GOPICHAND,^{PRESIDING OFFICER} OA.No.34 OF 2024

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Between:

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State Bank of India, Stressed Assets Recovery^{Branch (SARB-II)} 1-8-563/1, RTC Cross roads, Opp Sandhya theatre,^{1't floor,} Chikkadpally, Hyderabad -^{500 020.} Represented by its Chief Manager

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Applicant

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VERSUS

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Sri Gopala Krishna DevulaPalli, S/o Late Venkateswarlu, R/o Flat No.102, Bhavani^residencY, Defence colony, SainikPuri, Hyderabad^-500 092.

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Also at

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Sri Gopala Krishna DevulaPalli, S/o late Venkateswarlu, Villa Plot no.2B9,^"Villa Orchids", Mahadevpur village and Kowkur village, Near ArmY^Firing Range, Malkajgiri Mandal, Ranga Reddy district - 500^030.

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Defendant

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Counsel for the Parties;4fr= FortheApplicant ,K& Sri C. Prabhakar For the oefendanfl,.f'F. ($ xparte r'\i fi!)fiIt

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(OA.No.34 of 202a1

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ORDER

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The Applicant Bank filed the^present OA against^Defendantfor recovery of a total sum of Rs.37r09,486/-^(Rupees Thirty^Seven Lakhs Nine thousand Four hundred and Eighty Six only)^with further interest @ 9.05o/o^p.a with monthly rests from date of^{filing of} OA till the date of realization and in default^{for sale of mortgaged} property as described in the schedule to OA.

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As per the averments in the application, the^{ApplicantBankstates} that defendant availed Home loan of Rs.51,20,000/-for^{purchase of} OA schedule^property through arrangement^{letter dated16.11.2015.} To secure due repayment of home loan, the defendant^executed Memorandum of loan agreement dated 16.11.2015.^{The defendant} created equitable mortgage on 24.10.2016^{by way of depositof sale} deed No.4400/2016 dated 06.09.20L6 in^{respect of OA Schedule} property. 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} dated 19.t2.2023. Inspite of^{several requests and demands,the} defendant did not clear the outstanding.^{Hence this OA.}

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Defendant called on 11 .03.2024.

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(OA.No 34 of 2024)

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4, Smt M. Sarala,^{Manager of the Applicant Bank examined himself as} AW.1 and exhibited relevant^{documents, which are markedas} 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 whetherthe Applicant Bank is} entitled for the claim^{made in the oA against the Defendantas} prayed for?

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Defendant called^{absent and set exparte.To substantiate the case} of the Applicant^{Bank, AW'1, official of the Applicant Bank was} examined and^{she exhibited relevant documents as Ex'Al to A'B' In} viewoftheabove,IholdthattheApplicantBankhasestablished theirclaimmadeintheoAagainsttheDefendantandhencethe ApplicantBankisentitledtorecoverthec|aimmadeintheoAwith future interest^{and costs'}

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B. In the result,^{the present OA is allowed with costs, as under:}

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The Defendant^{is liable to} PaY^{to the} Lakhs Nine thousand

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Rs,37,O9,486/-^(RuPees. further interest @^9.05%

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Four hundred and Tw

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p.a from date of fili 1 A?n ?024

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(OA.No.34 of 2024)

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proceed against the^mortgaged

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1. The Applicant bank^{is entitled to} to OA towards^{realizationof the}

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property as described in^schedule debt due.

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ll.theApplicantBankisalsoentitledtoproceedagainstthepersonand properties of defendant^{towards realization of the debt due'}

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The Applicant^{Bank is entitledto 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 theopen} court on this the^1't day of April'²⁰²⁴⁾

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sdl_ (G. GOPICHAND) PRESIDING^OFFICER

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4

State Bank of India v. Sri Gopala Krishna Devulapalli

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sri Gopala Krishna Devulapalli

Case brief

What is this about?

What did the court decide?

What the court decided

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