Allowed

State Bank of India v. Sri. Abothu Satya Prasad Babu

DRT13 May 2025OA/13/2025

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an Origin Application filed by State Bank of India for recovery of a loan of Rs. 21,22,474/- with interest. The bank was held entitled as the defendant was absent and the bank's claim was substantiated by evidence.

What did the court decide?

The defendant is liable to pay the applicant a total sum of Rs. 21,22,474/- with interest at 10.90% p.a. from the date of filing of the OA till the date of realization.

State Bank of India versus Sri. Abothu Satya Prasad Babu — DRT (2025) — LawSathi Research

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

¶2

DATED THIS THE 13TH DAY OF MAY'2025

¶3

PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

¶4

OA.No.13 of 2025

¶5

Between:

¶6

State Bank of India, Stressed Assets Recovery Branch-II H.No. 1-8-563/1, first floor, Opp Sandhya theatre, RTC "X" roads, Hyderabad, Telangana State. Represented by its Chief Manager

¶7

Applicant

¶8

VERSUS

¶9

Sri Abothu Satya Prasad Babu, S/o Babu Rao, R/o block 57, Plot no.20, Rajiv Gruhakalpa, Papireddy colony, chandanagar K.V. Ranga Reddy - 500 050.

¶10

Defenda nt

¶11

Counsel for the Pa rties:

¶12

For the Applicant

¶13

Sri C. Prabhakar

¶14

For the Defendant Exparte

¶15

ORDER

¶16

The Applicant Bank filed the present OA agalnst Defendant for recovery of a total sum of As.2)fi]fi7.4/+($Ulqes Twenty One Lakhs Twenty Two thousa nty Four ff;Iiffi...^T i 1t imT 2[6 :

¶17

W--d

¶18

(oA.No.13/202s)

¶19

only) with further interest @^{10.90%p.a with monthly rests from} date of filing of OA till^{the date of realization.}

¶20

As^per the averments in the^{application, the Applicant Bank states} that defendant availed^{personalloan facility under Xpress credit} scheme of SBI for a^{sum of Rs.18.00 lakhs vide letter of} arrangement dated 21.01.2023.^{The defendant agreed to repay the} loan amount with interest @^{10.90o/o p.a and the loan amountwas} repayable in 72 EMIs of Rs'34,170/-^{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 t3.12.2024.Inspite of several} requests and demands,^{the defendantdid not clear the outstanding.} Hence this OA.

¶21

Defendant called^{absentand set exparte on 15'04'2025'}

¶22

4.smt.M.Sarala,ManageroftheApplicantBankexaminedherselfas AW.1 and exhiblted relevant^{documents, which are markedas} Ex.A.1 to A.6.

¶23

Heard the^{Ld. Coun}

¶24

13 !{lI zffi

¶25

(OA.No.13/202s)

¶26

The^point that arise for consideration^{is whetherthe ApplicantBank is} entitled for the claim made in the OA against the^Defendantas prayed for?

¶27

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} 4.6.^In view of the above, I hold that the Applicant^{Bank has established} their claim made in the OA against the^{Defendant and hencethe} Applicant Bank is entitled to recover the^{claimmade in the OA with} future interest and costs.

¶28

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

¶29

The Defendant is liable to^pay to the^{Applicant Bank a total sum of} Rs.2L,22,4741- (Rupees Twenty One^{Lakhs TwentyTwo} thousand four hundred and Seventy^{Four only) with further} interest @ 10.90olo^p.afrom date of filing of OA^{till the date of} realization.

¶30

10, the Applicant Bank is also entitled to^{proceedagainst the personand} properties of defendant towards rdalilation of the debt due'

¶31

The Applicant aqpkiils entitled''to the "r','i<sup>c"o ,.- -,, the OA. * 13nlJ?s ? 6:J ;.-,1 r-:.".{ ), T- -r .-Y.5i, :i' ' ",i:|y' ,-|:,

¶32

(oA.No.13/202s)

¶33

The Applicant shall file a cost memo within two weeks^from the^date of receipt of order.

¶34

Issue Recovery certificate accordingly.

¶35

Communicate a copy of the order^{to the parties concerned.}

¶36

(Dictated to the P.A., transcribed by her, corrected,^{signedand pronounced by me in theopen} court on this the^13thday of^{May' 2025)}

¶37

sd/_ (G. GOPTCHAND) PRESIDING OFFICER

¶38

trW

¶39

DRT.I, HYDEP.A9!:|

State Bank of India v. Sri. Abothu Satya Prasad Babu

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sri. Abothu Satya Prasad Babu

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

State Bank of India versus . M/s Mega Minerals and Mines Enterprises

State Bank of India versus Sri. Maddeboina Tarakrama Rao

State Bank of India versus Sri. Ippapula Sridhar

State Bank of India versus Sri . Kashapogu Mahesh

State Bank of India versus Sri Siripelli Sathish Kumar

State Bank of India versus M/S. Subhiksha Enterprises