Allowed

State Bank of India v. Sri. Gunter Naresh

DRT13 Sept 2024OA/67/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an original application filed by the State Bank of India for recovery of dues amounting to Rs. 28.42 lakhs from the defendant, including housing loans and loss of profit, permitting further proceedings against mortgaged property.

What did the court decide?

Defendant directed to pay Rs. 28,42,452/- with interest and future interest; Bank entitled to proceed against mortgaged property and defendant's assets.

State Bank of India versus Sri. Gunter Naresh — Contract and Commercial Disputes | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE 13TH DAY OF SEPTEMBER' 2024

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PRESENT: SRI GUMMADI GoPIcHAND, PRESIDING oFFIcER OA.No.67 of 2OZ4

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Between :

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State Bank of India, Stressed Assets Recovery Branch, 2nd floor, TSRTC bus Terminal Complex, (Commuter Amenity Centre), Koti, Hyderabad, Telangana State. Represented by its Chief Manager

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Applicant

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VERSUS

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Sri Guntur Naresh, S/o Sri Narsimha Rao, major, Male, R/o H.No.8-4-341. Ganesh nagar, Karimnagar Town, Karimnagar - 505 001.

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Also at

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Flat no.206, Sri Sai Balaji Towers, Old bazar Locality of Karimnagar Town, Karimnagar - 505 001.

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Defendant

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Counsel for the^parties:

Satyanarayana

For the Defendantⁱ

(OA.No.67 of 2024)

ORDER

The Applicant Bank filed the present OA against Defendant for recovery of a total sum of Rs.28,42,452l- (Rupees Twenty Eight Lakhs Forty Two thousand Four Hundred and Fifty Two only) i.e.,

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a) A sum of Rs.17,33,805/- for housing loan and a sum of Rs.44,156/- under SBI Suraksha with interest @ 12.25o/o p.a with monthly rests from date of application till the date of realization;

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b) A sum of Rs.10,64,491l- under SBI Home top-up with interest @ 9.650/o p.a with monthly rests from date of application till the date of realization;

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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 Applicant Bank states that defendant availed housing loan of Rs.16.50 lakhs along with funding of housing loan insurance cover of Rs.1,22,365/- totaling a sum of Rs.17,72,365/- on 15.09.2024 for purchase of schedule mentioned property. To secure repayment of outstanding liability, the defendant executed Me f loan agreement dated 15.09.2024 in favour ited the title deeds relating the OA Regd.Sale deed no.7910/2014 with table mortgage by ",i$lJErumtu.

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(OA.No.67 of 2024)

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deposit of title deeds. 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 on 01.05.2022 and issued legal notice dated 0t.02.2024. Inspite of several requests and demands, the defendant did not clear the outstanding. Hence this OA.

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Defendant called absent and set exparte on 12.08.2024.

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Sri P. Sandeep, Manager of the Applicant Bank examined herself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.15.

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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 called absent and set exparte. 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.15. In view of the above, I hold icant Bank has established their claim made in ant and hence the

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Applicant Bank is made in the OA with 13 sEPm ,-

future interest and

tuw

(OA.No.67 of 2024)

B. In the result, the present OA is allowed with costs, as under: The Defendant is liable to pay to the Applicant Bank a total sum of Rs.28,42,452/- (Rupees Twenty Eight Lakhs Forty Two thousand Four Hundred and Fifty Two only) i.e.,

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a) A sum of Rs.17,33,g05/_ for housing loan and a sum of Rs.44,156/- under SBI Suraksha with interest @ L2,25o/o p.a from date of application till the date of realization;

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b) A sum of Rs.10,64,491l- under SBI Home top_up with interest @^g'650/o p.a from date of apprication tiil the date of realization;

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The Applicant bank is entitled to proceed against the mortgaged

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property as described in schedule to OA towards realization of the

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debt due.

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The Applicant Bank is also entitled to proceed against the person

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and properties of defendant towards realization of the debt due.

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The Applicant Bank is of the OA.

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The Applicant shall weeks from the date

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of receipt of order

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Issue Recovery

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(oA.No.67 of 2024)

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14. 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 13th day of Sept, 2024)

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sdl(G. GOPTCHAND) PRESIDING OFFICER

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ffik"<br>,E'- * ',4 {3stPilil ^6 as. fr]'i
W,rSY

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JRUE COPY
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State Bank of India v. Sri. Gunter Naresh

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sri. Gunter Naresh

Case brief

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What did the court decide?

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