Allowed

State Bank of India v. Smt. Radhika Sontineni

DRT1 Jan 2025OA/181/2024

Case brief

AI extract

What is this about?

In OA.No.181 of 2024, the Debts Recovery Tribunal allowed the State Bank of India's application for recovery of a housing loan default totaling Rs. 29,60,656/- along with future interest and costs. The court proceeded ex parte as the defendant failed to appear and acceded to the bank's claim based on evidence.

What did the court decide?

Defendant ordered to pay Rs. 29,60,656/- plus future interest and costs; Applicant entitled to proceed against mortgaged and personal properties for realization.

State Bank of India versus Smt. Radhika Sontineni — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD DATED THIS THE 1STDAY OF JANUARY' 2025

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PRESENT: SRI GUMMADI GoPIcHAND, PRESIDING oFFICER

¶3

OA.No.18t of 2O24

¶4

Between:

¶5

State Bank of India, Stre-ssed Assets Recovery Branch, 2"" floor, TSRTC, CAC, Koti, Hyderabad, Telangana State. Represented by its Chief Manager

¶6

Applicant

¶7

VERSUS

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Smt Radhika Sontineni, w/o KattaLokeswara Rao, female, aged about 36 years, occ: Private employee, R/o flat no.201, ptot no.393 & 394, Iafeglpet^{viilage, Serilingampaily} Mandal, Near Academic high School, Hyderabad - 500 OB5.

¶9

Also at

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Office address: Now n Wow Ethnic Studio, HIG 212, road no.2, near Dhanalakshmi Center, KPHB colony, Hyderabad - SOO 072.

¶11

Also at:
Flat no.206, Swarna Siri
Sanpada Apartment,
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mru:u:t y#:{#6*-b '"D
Defendant
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Luu coun se tl rf or t hn e partie$:% Partiesr:'i, 's.J o - 1 Jrll ?-ozs ^ ;' :i;I
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For the Applicant .*^ a 6Y"iii'/
iri{jp4, ,)itznvoEnee$flnfzTa ra n s i n i pi s i pa ti
For the Defendant -'\SOt
ritcoyrr{ pa rte

¶12

(OA.181 of 2024)

¶13

ORDER

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1' The Applicant Bank fired the present oA against Defendant for recovery of a total sum of Rs.29,6O,656/- (Rupees Twenty Nine Lakhs Sixty Thousand Six Hundred and Fifty Six only) ie.,

¶15

a) A sum of Rs.28,36,435/- under loan A/c. no.38918177534 with interest @ 10.70olo p.a with monthly rests from 02.05.2024 till the date of realization ;

¶16

b) A sum of Rs.L,24,22I/- under loan A/c. no.40215556818 with interest @ L2.70o/o p.a with monthly rests from 02.05.2024 til the date of realization ;

¶17

and in default for sale of mortgaged property as mentioned in the schedule to OA.

¶18

As per the averments in the application, the Applicant Bank states that defendant is the borrower and mortgagor who availed housing loan facility of Rs.30.00 lakhs vide letter of arrangement dated 13.11.2019 for purchase of schedule mentioned property. The defendant executed memorandum of loan agreement, agreement oF mortgage and deposited the sale deed dated 28.12.20t9. After

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availing the loan faci lhe^{defendant failed to comply the terms of} sanction, h nk was constrained to classify the account on d issued recall notice dated * 01 JAN 2M

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(OA.181 of 2024)

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30.04.2024. Inspite of several requests and demands, the defendant

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did not clear the outstanding. Hence this OA.

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Defendant called absent and set exparte on 20.LL.2024.

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Sri ManjulDixit, Manager of the Applicant^{Bank examined himself as} AW.1 and exhibited relevant documents,^{which are markedas} 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 Defendantas} prayed for?

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Defendant remained exparte.^{To substantiate the case of the} Applicant Bank, AW.1,^{officialof the Applicant Bank was examined} and he exhibited^{relevant documentsas Ex'Al to A.10' In view of} the above, I hold that^{the Applicant Bank has established their claim} madeintheoAagainsttheDefendantandhencetheApplicantBank is entitled to recover the^{claim madein the oA with future interest} and costs.

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B. In the^present OA is allowed^{with costs, as under:} liable to^pay to the^{Applicant Bank a total sum of} Rupees Twenty Nine^{Lakhs Sixty Thousand} ifty Six only) ie.,

¶29

(OA.181 of 2024)

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a) A sum of Rs.28,36,435/under loan A/c. no.38918177534 with interest @ 10.70olo p.a from 02.05.2024 till the date of realization;

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b) A sum of Rs.t,24,221/under loan A/c. no.40215556818 with from 02.05.2024 till the date oF

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interest @ t2.70o/o p.a realization;

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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 defendant 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 certificate accordingly.

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Communicate a copy of^{the order to the parties concerned'}

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nscribed by her, corrected, siqned and pronounced by me in the open
an,2025)
* sdl-
TRUE COPYT. _
(G. GoPIcHAND)
o1JAlt2o2s r /. e . b"-a#
"
; Lo.t' t PRESID|NG oFFlcER
ORI.I, ^*i.#t;,' HYD?.MBAD.

State Bank of India v. Smt. Radhika Sontineni

Case brief

What is this about?

What did the court decide?

State Bank of India v. Smt. Radhika Sontineni

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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