Allowed

State Bank of India v. M/S. Hari Hara Putra Enterprises

DRT15 Sept 2025OA/173/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the applicant bank's original application for recovery of a term loan and cash credit. The court held the bank established its claim and directed the respondents to pay the principal sum along with future interest and costs.

What did the court decide?

Directly the defendants to pay Rs.25,35,999 with interest and proceed against hypothecated movables and properties to realize the debt.

State Bank of India versus M/S. Hari Hara Putra… — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.I^{AT HYDERABAD}

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DATED THIS THE 15TH DAY OF SEPTEMBER,²⁰²⁵

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING^OFFICER

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OA.No.173 ot 2025

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Between :

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State Bank of India, Stressed Assets Recovery branch, 2nd floor, TSRTC commuter Amenity Centre, bus terminal complex,^koti, Hyderabad - 500 095, TS. Represented by its Chief Manager

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Applicant

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VERSUS

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M/s. Hari Hara Putra Enterprises, Proprietor : Mrs Nalabothula Lakshmi Devi,

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w/o Mr. Nalabothula Prasad,

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shed no.1, IDA, Patancheru PH-3, Sangareddy, TS^-502 319.

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Also at

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Flat no.G3, D-block, sunrise Domestic Indresham, RK Puram, patancheruvu, TS -502 319.

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Mrs. Nalabothula Lakshmi Devi, w/o Mr. Nalabothula Pr;g$:'::11.-flat no.G3, D-block"-1.'9:'.*.1ij,li^{..'. :.:l} , Sunrise Domestic.{ii"dftsha-rhJttr^,'i *.\ 'r\h RK Puram, pataqCh6fuvu, 2',i : : TS -502 319. ,i k :t \i .. Defendants iig^{?5stP2ffi *} Counsel il;;;" for the Partffi ttollba U -^;!, ,,, .,,,.i,:li$t^sreedhar For the Defendants^{'"-' {- '-,,;-} " :};;Exparte

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(oA.L73/202sl

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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.25,35,999/-^(Rupees Twenty^Five Lakhs Thirty Five thousand Nine Hundred and Ninety^Nine only) i.e.,

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a) A sum of Rs.22,35,691/-with further interest @ L4.40o/o^{p.a from} date of filing of OA till the date of realization;

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b) A sum of Rs.3,00,308/-with further interest @ 14.15olo^p.a from date of filing of OA till the date of realization;

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and in default for sale of hypothecated movables as mentioned in the schedule to OA.

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As per the averments in the application, the Applicant Bank states that defendants no.1 & 2 availed term loan of Rs.22,35,691/- and cash credit of Rs.3,00,308/- vide letter of arrangement dated 22.05.2023. Defendant no.2 executed agreement of loan cum hypothecation and guarantee agreement etc. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NPA on 09.04.2024 and legal notice was issued on 03.04.2025. Inspite of several requests and demands, the Hence this OA.

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on 20.08.2025.

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(oA.173/202s)

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Smt Kalyani Rathod, Manager of the Applicant Bank examined herself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.10.

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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^{ApplicantBank 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.10, 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^Bankis entitled to recover the claim made in the OA with future^{interest and} costs.

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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.25,35,9991-^(Rupees Twenty^{Five Lakhs} Thirty Five thousand Nine Hundred and Ninety Nine only)^i.e., a) A sum of Rs.22,35,691/-with further interest @^{14.40olo p.a} of OA till the date of realization;

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rF^{b) ACil5m of} from 1^{sd$Ee ffiring} till the date of realization;

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(oA.L73/2o2sl

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The Applicant^{Bank is entitled to proceedagainst the hypothecated} movables as mentioned^{in the scheduleto oA toivards realization of} the debt due.

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The Applicant^{Bankis also entitledto proceed against the personand} 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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The Applicant^{shall file a cost memo within two weeks from the date} of receipt of order'

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Issue Recovery^{certificateaccordingly.}

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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 pronouncedby mein the opencourton} this the 15th day^{of SePt,2025)}

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(G. GOPICHAND)

PRESIDING OFFICER

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TRUE COPY -
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State Bank of India v. M/S. Hari Hara Putra Enterprises

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S. Hari Hara Putra Enterprises

Case brief

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What did the court decide?

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