Allowed

State Bank of India v. Vvs and Co.

DRT8 Oct 2025OA/234/2025

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an Order Application filed by State Bank of Hyderabad against WS & Co. and Sri Varee Sathish for outstanding dues. Ruling that the bank established its claim debtoridad, the tribunal imposed joint liability, authorized recovery from hypothecated and personal assets, and issued a recovery certificate.

What did the court decide?

Respondents are jointly and severally liable to pay total Rs.43.90 Lakhs with future interest; recovery proceedings against hypothecated and personal properties allowed; recovery certificate issued.

State Bank of India versus Vvs and Co. — Company and Corporate | DRT (2025)

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IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD

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DATED THrS THE 8rH DAy OF OCTOBER,2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.234 ol 2025

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Between:

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State Bank of India, SARB, 2nd floor, TSRTC Bus Terminal complex (CAC) Koti, Hyderabad, TS, Represented by its Chief Manager

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Applicant

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VERSUS

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WS & Co.,

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Represented by its proprietor, Sathish Varee, major, male, A/22, Bank colony,

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Mansoorabad, LB nagar,

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Hyderabad - 500 070.

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Sri Varee Sathish,

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s/o V. Venkateshwara Swamy, major, male, R/o H.No.3-9-639/14l1, Anitha Nagar, Mansoorabad, LB nagar, Hyderabad - 500 070.

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Defendants

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Counsel for the Parties:

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For the Applicant Sri P.V. P.V. Satyanarayana
For the D {#- "W r, Exparte
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Sri P.V. P.V. Satyanarayana

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present OA against Defendants for

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Rs.43,90,167l- (Rupees Forty Three

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(OA.No.234 of 2025)

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Lakhs Ninety Thousand One Hundred and Sixty Seven only) i.e.,

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a) A sum of Rs.38,56,193/- from defendants with future interest @ 9.40o/o p.a with monthry rests from date of apprication till the date of realization ;

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b) A sum of Rs.5,33,974/- from defendants with future interest @ 12.25o/o p'a with monthry rests from date of apprication tifl the date of realization ;

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and in default for sale of hypothecated 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.2 is the proprietor of defendant no.1 availed cc limit of Rs.55.00 lakhs on 28.09.2020 and executed agreement of loan cum hypothecation. The defendants also availed GECL Extension loan of Rs.15.00 lakhs on 28.L2.2021. After availing the loan facilities, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NpA and legal notice was issued on L4.05.2025. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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t and set exparte on 21.08.2025.
€h
ffi
0cT

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(OA.No.234 of 2025)

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Smt K. Geetha Lakshmi of the Applicant Bank examined herself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.12.

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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 she exhibited relevant documents as Ex,Al to A.12. 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.43,9O,167l- (Rupees Forty Three Lakhs Ninety Thousand One Hundred and Sixty Seven only) i.e., a)A sum of. from defendants with future interest @ till the date of realization ;

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*ll *" iI

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((;^oBomnr

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(OA.No.234 of 2025)

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b) A sum of Rs.5,33,974/- from defendants with future interest @ L2.25o/o p.a from date of application till the date of realization ;

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The Applicant Bank is entitled to proceed against the hypothecated property as mentioned in the schedule to OA towards realisation of the debt due.

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The Applicant Bank is also entitled to proceed against the person and properties of defendant no.2 and properties of defendant no.1 firm 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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(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 8th day of oct, 2025)

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sdl(G. GOPTCHAND) PRESIDING OFFICER

State Bank of India v. Vvs and Co.

Case brief

What is this about?

What did the court decide?

State Bank of India v. Vvs and Co.

Case brief

What is this about?

What did the court decide?

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