Allowed

State Bank of India v. Vara Lakshmi

DRT5 Aug 2025OA/7/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by the State Bank of India against two defendants for recovery of a loan principal sum of approximately Rs. 32.13 Lakhs along with future interest and costs. The court held the defendants jointly and severally liable and directed the issuance of a Recovery Certificate.

What did the court decide?

Defendants held jointly and severally liable to pay Rs. 32,13,122.61 with future interest at 8.40% p.a. and costs; Recovery Certificate issued.

State Bank of India versus Vara Lakshmi — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THiS THE OsTH DAY OF AUGUST, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com.I L.LB. (HonS.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 07 OF 2025

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M/s. State Bank of India., sARB, D.No.54-20-tBl3F /U6 3'd Floor, Upstairs of KFC, Surya Prakash Square, Gurunanak Nagar Road, NTR District, VUayawada Andhra Pradesh - 520008. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Smt. N.Vara Lakshmi W/o. Late T.lYa llikarj u na Rao Age 56 Years, Occ: Home-Maker

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Smt. T. Sneha

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D/o. Late T. Mallikarjuna Rao Age 29 Years, Occ: Home-Maker

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Both 1 & 2 are Rlo.78-l-90/9/44A Yashoda Nagar, ASR Colony, Near CP14 OFfice, Tirupathi, Chittoor District Andhra Pradesh - 517501.

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Also at:-

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Flat No.1O1, 1't Floor, Sri Lakshml Srinivasa Towers, Tirumala Reddy Nagar Residential Area, Thimmainaidupalem(V) Tirupathi Urban Mandal, Tirupathi, A.P-517501.

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Also at:O/o. Sri Lakshmi Naraya Data-Entry Operators, Data Processinq Officers Society, TTD Ad ministration Bullding Room No.72, Tirupathl, Chittoor District A.P - 517501.

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... Defenda nts

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oA.NO.07l2025

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Counsel for the Applicant

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: M/s. M.Venkat Divakar

Defendants

:Ex-parte

:: ORDER::

The Applicant Bank filed the^present OA^{for the recovery a total} sum of Rs.32,13,122.61ps as on 06.12.2024^{towards Loan} A/c.No.37361569030 from the defendants^{jointlyand severally} with future interest @8.95olo^p.a. with^{monthly restsfrom} 07.12.2024 till the date of^{realizationalong with costs and in} default for sale of OA schedule^properties.

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Summons served on D1 and^{2 throughpaper publication.They} were set ex-parte on 09.06.2025 as^{calledabsent and no} representation.

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The Applicant Bank examined D.VSBG^{Krishna,Deputy} Manager, as AW-1 and marked 15 documents through^{him as} Ex. A.1 to Ex. A.15.

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Heard the Ld. Counsel for the Applicant Bank. Perused the material placed on record.

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The point that arises for consideration is:-

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA schedule properties?

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.15 marked on behalf of the Applicant Bank "':" . 't

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oA,NO.07/2025

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clinches the claim of the^{Applicant Bank against the Defendants.} Hence, I hold that the Defendants^{are jointlyand severallyliable} to^pay the OA claim to the^{Applicant Bank with future interest} and costs.

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In the result, the^present Original^{ApplicationNo.07l2025 is} allowed as under:^-

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i) The Defendants are^jointly and severally liable to^pay to the Applicant Bank a^{sum of} Rs.32,13,122.61ps as on 06.12.2024 towards Loan A/c. No. 37361569030 with^future interest @8.40lo^p.a. simple from the date^of application till the date of realization;

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ii) the OA claim is secured by way of^mortgage of properties described in the^schedule annexed to the OA and the applicant bank^is entitled to proceed against the same^to realise its debt;

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iii) the applicant bank is also entitled to^proceed against the person and^properties of defendants for realization of its dues;

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iv) the applicant bank is entitled for the costs.

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The Applicant Bank is directed to file Cost Memo within 2^weeks from the date of receipt of this Order.

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Issue Recovery Certificate accordingly.

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oA.NO.07l202s

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Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 05th Day of August, 2025).

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( R1vi 55111474p KOTH E) PRESIDING 'ffi'OFFICER

State Bank of India v. Vara Lakshmi

Case brief

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State Bank of India v. Vara Lakshmi

Case brief

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