Allowed

State Bank of India v. Sri P. Venkata Satya Prasad Reddy

DRT21 May 2025OA/102/2025

Case brief

AI extract

What is this about?

This order allowed an Originating Application filed by the State Bank of India against a borrower for recovery of a loan amount of Rs. 23,45,182/- with interest. The court held that the bank established its claim and directed the issuance of a recovery certificate and costs of the application.

What did the court decide?

The Order allows the Appeal Party to recover ₹23,45,182/- plus interest and costs of the application, and issues a recovery certificate.

State Bank of India versus Sri P. Venkata Satya Prasad Reddy — DRT (2025) — LawSathi Research

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

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DATED THIS THE 21STDAY OF MAY'2025

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PRESENT: SRI GUMMADI GOPICHAND,^{PRESIDING OFFICER}

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OA.No'102 ot 2025

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Between:

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State Bank of India, Stressed Assets Recovery Branch-II Chikkadpally, Hyderabad, TS. Represented by its Chief Manager

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Applicant

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VERSUS

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Sri P. Venkata Satya Prasad Reddy, S/o P. Rangareddy, aged 51^years, Occ: senior Manager,

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Employee ID -46010710, Capgemini Technologies, ISB road no.2, Financial District, Nanakramguda, Hyderabad - 500 032.

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And also at

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R/o flat no.528, Dinesh Auric, Survey no.37, Beside PraneethAntilla, Bachupally, Hyderabad - 500 090.

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Defendant

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Sri K. Narayana Rao Expa rte

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r ,-1r( 1 uAY mq :l
1.,

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(oA. No.102/202s)

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ORDER

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The Applicant Bank filed the present OA against Defendant for recovery of a total sum of Rs.23,45,182/- (Rupees Twenty three Lakhs Forty Five thousand One hundred and Eighty Two only) with subsequent interest @ 12.25o/o p.a with monthly rests from date of filing of OA till the date of realization.

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As per the averments in the application, the Applicant Bank states that defendant availed personal loan facility under Xpress Credit scheme of SBI for a sum of Rs.25.00 lakhs and executed^personal loan agreement dated 24.03.2023, The defendant agreed to repay the loan amount with interest @L2.25o/o p.a and the loan amount was repayable in 72 EMIs of Rs.49,202/- per month. After availing the loan facility, 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 15.02.2025,^Inspite of several requests and demands, the defendant did not^clearthe outstanding. Hence this OA.

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called absent and set exparte on 13.05.2025.
trA-N
.,4 <br>

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(OA. No.1021202s)

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Sri B. Rama Krishna Prasad, Manager of the Applicant Bank examined herself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.5.

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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.5. 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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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 Forty Five subsequent

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the date of

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t3t realization, ^j

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..t-,]1.r.'' -SSr ,Bx.tqV

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(oA.No.102/202s)

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the Applicant Bank is also entitled to^proceed against the^person and properties of defendant 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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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 an the open court on this the 21'tday of May'2025)

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sdlI^..-r. 21 mYz$ffi (G. GOPTCHAND) PRESIDING OFFICER

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State Bank of India v. Sri P. Venkata Satya Prasad Reddy

Case brief

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State Bank of India v. Sri P. Venkata Satya Prasad Reddy

Case brief

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