Allowed

State Bank of India v. B Venkataiah

DRT23 Apr 2025OA/16/2025

Case brief

AI extract

What is this about?

In OA No. 16 of 2025, the Debts Recovery Tribunal allowed the State Bank of India's application for recovery of Rs. 24,64,839/- along with interest. The court held that the Applicant had established its claim despite the Defendant being absent and issued a recovery certificate.

What did the court decide?

The Defendant ordered to pay Rs. 24,64,839/- with interest at 11.50% p.a. from 27.07.2024. Recovery certificate issued; permission to proceed against person and properties granted.

State Bank of India versus B Venkataiah — Banking and Recovery | 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' 20.25

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING oFFIcER

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OA.No.16 of 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. BooddhulaVenkataiah, s/o B. ramulu, aged 53 years, occ: govt employee, Flat no. 12-10-33 6/ LB/5, FZ, Kousalya Residency, Seethaphalmandi, Hyderabad TS - s00 061.

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Also at

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E/o Bureau of Police Research And Development, Bowenpally, PS, Secunderabad, Hyderabad - 61.

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Defendant

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Counsel for the Parties:

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For the Applicant

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Srilvl. VenkatDivakar

Exparte

(oA.No.161202s)

ORDER

1' The Applicant Bank filed the present oA against Defendant for recovery of a total sum of Rs.24,64,g39/_ (Rupees Twenty Four Lakhs Sixty Four Thousand Eight Hundred and Thirty Nine only) with further interest @ 11.50% p.awith monthly rests plus 20lo enhanced interest from 27.77.2024 tiil the date of rearization.

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2' As per the averments in the apprication, the Appricant Bank states that defendant avaired xpress credit personar roan for a sum of Rs.25.00 lakhs on 06.04.2023. The defendant agreed to repay the loan in 72 equated monthly installments of Rs.48,22gl_ with EMI from 01.05.2023. 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 04.08.2024 and issued legal notice on 20.11.2024. Inspite of several requests and demands, the defendant did not crear the outstanding. Hence this oA.

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Defendant called absent and set exparte on 03.04.2025.

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Sri B. Rama Klr.e.lnnq*#-f9.r..O, Manager of the Appticant Bank 'r' .Jr ",t examined himself aS AW.1 ad$ exhibited relevant documents, which .t,.

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are marked as fr|A{lD*dm. " .1

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(oA.No.16/2025)

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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.9. In view of the above, I hold that the Appricant Bank has estabrished their claim 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 liabre to pay to the Appricant Bank a totar sum of ofRs.24,64,8391- (Rupees Twenty Four Lakhs Sixty Four Thousand Eight Hundred and Thirty Nine only) with further interest @ 11.50o/o p.afrom 21.1..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 Applica the costs of the OA.

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(oA.No.16/202s)

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The Applicant shall file a cost memo withln 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)

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PRESIDING OFFICER

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State Bank of India v. B Venkataiah

Case brief

What is this about?

What did the court decide?

State Bank of India v. B Venkataiah

Case brief

What is this about?

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