Allowed

State Bank of India v. Mr. Shiak Mahaboob Nawaz

DRT23 Apr 2025OA/15/2025

Case brief

AI extract

What is this about?

This judgment allowed an Originating Application filed by State Bank of India against Mr. Shaik Mahaboob Nawaz for recovery of a personal loan of Rs. 23,54,976 along with interest and future interest till realization.

What did the court decide?

Defendant ordered to pay Rs.23,54,976 along with interest; recovery certificate issuing.

State Bank of India versus Mr. Shiak Mahaboob Nawaz — Company and Corporate | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE 23RD DAY OF APRIL'2025

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PRESENT: SRI GUMMADI GOPIcHAND, PRESIDING oFFIcER

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OA.No.t5 ol 2O2S

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Between:

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State Bank of India, SARB-II Branch, Opp Sandhya theatre, RTC "X" roads, Chikkadpally, Hyderabad - 500 020. Represented by its Chief Manager

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Applicant

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VERSUS

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Mr. ShaikMahaboob Nawaz, S/o Sk. Khaja Hussain, aged 33 years, Occ: railway employee, H.No.4-132, Balanagar, MRO Office back side, Mahabubnagar, TS - 509 202.

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Also at:

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E/o South Central Railway, Kachiguda, Backside parcel office, Himayathnagar, Hyderabad - 500 027.

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Defenda nt

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Counsel for the Parties:

For the Applicant

For the Defendant

Sri M. VenkatDivakar

Expa rte

(OA.No.1sl202s)

ORDER

The Applicant Bank filed the present OA against Defendant for recovery of a total sum of Rs.23,54,976l- (Rupees Twenty Three Lakhs Fifty four Thousand Nine Hundred and Seventy Six only) with further interest @ 11.90olo p.awith monthly rests plus 2Yo enhanced interest from 21.11.2024 till the date of realization.

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As per the averments in the application, the Applicant Bank states that defendant availed Xpress Credit personal loan for a sum of Rs.25.00 lakhs on 22.12.2022. The defendant agreed to repay the loan in 72 equated monthly installments of rs.48,746/- with EMI from 01.01.2023. 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 20.08.2024 and issued legal notice on 20.7t.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 03.04.2025.

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of the Applicant Bank exa m rn ed releva nt documents, which a^.'1sP are markedras Ex.&.I:,to

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(oA.No.1sl202s)

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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

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entitled for the claim made in the OA against the Defendant as prayed for?

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Defendant remained 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.B. In view of the above, I hord that the Appricant Bank has estabrished their craim made in the oA against the Defendant and hence the Appricant 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 riabre to pay to the Appricant Bank a totar sum of ofRs.23,54,976/- (Rupees Twenty Three Lakhs Fifty four Thousand Nine Hundred and Seventy Six only) with further interest @ 11.90o/o p.afrom 2I.tL.2024 till the date of realization

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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 the costs of the OA.

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(oA.No.1sl202s)

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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 the open court on this the 23.d day of April, 2025)

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sd/(G. GOPTCHAND) PRESIDING OFFICER

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(bvy##-

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Assl, Feglrtrsr npr-r Hyt EqaBAC

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State Bank of India v. Mr. Shiak Mahaboob Nawaz

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mr. Shiak Mahaboob Nawaz

Case brief

What is this about?

What did the court decide?

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