Allowed

State Bank of India v. Mr. Krishna Venkatesh

DRT18 Jun 2025OA/141/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by State Bank of India against Mr. Krishna Venkatesh for recovery of a personal loan amounting to Rs. 25,30,642 along with interest and costs, classifying the account as NPA due to default.

What did the court decide?

Allowed the OA for recovery of Rs. 25,30,642 with interest @11.05% p.a. from 12.03.2025, and costs. Directed the defendant to pay the sum.

State Bank of India versus Mr. Krishna Venkatesh — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.I AT HYDERABAD

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DATED THIS THE 18TH DAY OF JUNE'2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.141 ot 2025

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Between:

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

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Applicant

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VERSUS

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Mr. Krishna Venkatesh, S/o Bala Swamy Krishna, aged 48 years, Occ: Govt employee, H.No. 1-29-129, Subhash nagar, Kanajiguda, Near Erra Janda, Alwal, Secunderabad Hyderabad - 500 015.

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Also at:

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O/o Sub ERO, TSSPDCL, Nampally, Hyderabad - 500 012.

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Defendant

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Counsel for the For the Sri M. Venkat Divakar For the .,,k Expa rte l{' 1. The present OA against Defendant for recovery of a total sum of Rs.25,3O,642/(Rupees Twenty Five

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Lakhs Thirty Thousand Six Hundred and Forty Two only) with

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(oA.No.141 12025)

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further interest @ 11.05o/o^p.a with monthly rests and^{penal interest} @ 2o/o^p.a from^12.03.2025 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^Line scheme of SBI for a sum of Rs.25.00 lakhs vide letter of arrangement dated 09.11.2023. The defendant agreed to repay the loan amount with interest @11.05o/o p.a and the loan amount was repayable in 72 EMIs of Rs.47,650/-^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 on 08.12.2024 and issued notice dated 20.03.2025.^Inspiteof 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 09.06.2025.

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1. Smt M. Sarala, Manager of the Applicant^{Bank examinedhimself} AS

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AW.1 and exhibited relevant documents, which are^marked Ex.A.1 to A.7.

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Heard the Ld. nt Bank.
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(oA.No.14U202s)

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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^Defendantas prayed for?

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7, 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.7.^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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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.25,30,642l- (Rupees Twenty Five Lakhs Thirty Thousand Six Hundred and Forty Two only) with further interest @ 11.05o/o p.a from 12.03.2025 till the date of realization.

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the Applicant Bank is also entitled to^proceed against the^personand properties of defendant towards realization of the debt due.

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The Applicant the costs of the OA.

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The Appli within two weeks from the date of recei ordb0 JUil 20m

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(OA. No.141/202s )

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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,signedand pronounced by mein the open} court on this the^{18th day of lune'2025)}

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sd/(G. GOPICHAND) PRESIDING OFFTCER

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18 Juilms

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State Bank of India v. Mr. Krishna Venkatesh

Case brief

What is this about?

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State Bank of India v. Mr. Krishna Venkatesh

Case brief

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