Allowed

State Bank of India v. Sri Popthi Varun

DRT11 Aug 2025OA/162/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Originating Application filed by State Bank of India against two defendants for recovery of a housing loan debt of Rs. 71,68,118/- along with future interests and costs, directing the defendants to pay and enabling proceedings against mortgaged and personal properties.

What did the court decide?

Defendants ordered to pay Rs. 71,68,118/- with future interest @ 9.60% p.a.; recovery certificate issued.

State Bank of India versus Sri Popthi Varun — Execution and Attachment | DRT (2025)

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7IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE l1TH DAY OF AUGUST,2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.162 OF 2025

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Between:

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State Bank of India, Stressed Assets Recovery Branch, (SARB-2) 1-8-563/1, 1't floor, Opp Sandhya Theatre, RTC X roads, Chikkadpally, Hyderabad Represented by its Chief Manager

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Applicant

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VERSUS

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Sri Popthi Varun,

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s/o Late P. Anantha Prakash, male, major, R/o 2-L24/2, Near BangaruMaisamma Temple, Subhashnagar colony, Medipally Mandal, Hyderabad - 500 092.

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SmtNagamaniPopthi,

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w/o Sri Popthi Varun, female, major, R/o 2-124/2, Near BangaruMaisamma Temple, Subhashnagar colony, Medipally Mandal, Hyderabad - 500 092.

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Defendants

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Counsel for the Parties:
.6<br>For the Applicant IP: narayana
For the Defendants 1r ruE*?,?-(t"

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(oA.No.162l 202s)

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ORDER

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The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.71,68,118/- (Rupees Seventy One lakhs Sixty Eight Thousand One Hundred and Eighteen only) (Rs.66,70,529/- + 4,97,5879/-) with future interest @ 9.600/o p.a with monthly rests from date of filing of OA till the date of realization and in default for sale of mortgaged property as mentioned in the schedule to OA.

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As per the averments in the application, the Applicant Bank states that Defendant no.1 and 2 availed housing loan of Rs.57.60 lakhs on 13.07.2022 and executed agreement to mortgage in favour of applicant bank. The defendant created equitable mortgage of schedule property and deposited the title deeds in favour of applicant bank. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NPA on 14.07.2024 and issued legal notice dated 09.04.2025. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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3. Defendants called absent on 16.07.2025. {n

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1 1 tl.ic 2t[5
-hh,,, *K&Iniff-or{H

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(oA.No.162l 202s)

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Sri M. Ravindra, Senior Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1to A.13.

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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 Defendants as prayed for?

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Defendants 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.13. In view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants 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 Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.71,68,118/- (Rupees Seventy One lakhs Sixty Eight Thou One Hundred and Eighteen only) (Rs.66,7o,52g.1++,ET:$}-X-) with future interest @ 9.60% p.a i. ,':-- ,h\ rro, oute or,,iir'ng o16 titt ;;? of rea lization l! {i ' 11[uEffi = e'^$7"11-S'r ;ia

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(OA.No.162l 202s)

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The Applicant Bank is entitled to proceed against the mortgaged property as mentioned in the schedule to OA towards realization of the debt due;

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The Applicant Bank is also entitled to proceed against the person and^properties of defendants 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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L2, 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 1lth day of Aug, 2025)

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sd/(G. GOPTCHAND) PRESIDING OFFICER

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,. It';'.' a. 1-:<? l

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TRUE CqPY
;r"ffi,,

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State Bank of India v. Sri Popthi Varun

Case brief

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State Bank of India v. Sri Popthi Varun

Case brief

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