Allowed

State Bank of India v. Sri. Dayanand Dasram

DRT10 Feb 2025OA/246/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by the Applicant Bank for recovery of Rs. 24.42 Lakhs against the Defendant, holding that the bank established its claim and is entitled to recovery of the debt, future interest, and costs.

What did the court decide?

The Defendant is liable to pay Rs. 24,42,189/- with interest @ 10.40% p.a. from application date till realization, including future interest and costs. The applicant is entitled to proceed against the

State Bank of India versus Sri. Dayanand Dasram — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD

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DATED THIS THE 1OTH DAY OF FEBRUARY'2025

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PRESENTI SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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oA.No.246 0t 2024

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Between:

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State Bank of India, Stressed Assets Recovery Branch-II, First floor, Opp Sandhya Theatre, RTC Cross Road, Chikkadpally, Hyderabad.

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Represented by its Chief Manager

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Ap plica nt

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VERSUS

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Sri DayanandDasram, S/o Sri D. Raja Narsimha, Aged about 55 years, occ: central Govt Employee working in South Central Railway, Electrical department, Secunderabad - 500 017.

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H.No. 1017/7, Railway quarter, Chilkalguda cross road, Secunderabad - 500 025.

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Defenda nt

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Counsel for the Parties:

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For the Applicant

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For the Defendant

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Sri G. PrabhakarSarma

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Exparte

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(oA. No.2461202a)

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ORDER

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The Applicant Bank filed the present OA against Defendant for recovery of a total sum of Rs.24,42,L99l- (Rupees Twenty Four Lakhs Forty Two Thousand One Hundred and Eighty Nine

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only) with interest @ 10.40% p.awith monthly rests from the date of application till the date of realization.

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As per the averments in the apprication, the Appricant Bank states that defendant availed personar loan against property scheme under medium term roan of Rs.25.00 rakhs vide sanction retter dated to'02.2023. The defendant executed personar roan agreement dated 10.02.2023 and agreed to repay the personal loan in 72 equated monthly installments of Rs.46,g21l- commencing from 2g.02.2023. After availing the roan facirity, the defendant faired to compry the terms of sanction, hence the applicant bank was constrained to classify the account as NpA and issued regar notice dated 14.05.2024. Inspite of several requests and demands, the defendant did not clear the outstanding. Hence this OA.

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Defendant called absent and set exparte on t7.L0.2024.

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Manager of the Applicant Bank examined himself
releva nt documents, which are marked as
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(oA. No.24612024)

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Heard the Ld. Counsel for the Applicant Bank.

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6' The point that arise for consideration is whether the Applicant Bank is entitled for the claim made in the oA against the Defendant as prayed for?

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Defendant 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.7. In view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendant 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 Defendant is liable to pay to the Applicant Bank a total sum of Rs.24,42,L89/- (Rupees Twenty Four Lakhs Forty Two Thousand One Hundred and Eighty Nine only) with interest @ t0.40o/o p.afrom the date of application till the date of realization ;

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The Applicant Bank is also entitled to proceed against the person

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and propertj efendant towards realization of the debt due.

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f/.dq -\

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1. 15g.ffiticant ed to the costs of the OA. 10 FFEW

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(oA.N0.24612024)

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11' The Appricant shail fire 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., transcnbed by her, corrected, signed and pronounced by me in the open court on thrs the lOth day of Feb, 2025)

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sd/(G. GOPTCHAND) PRESIDING OFFICER

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State Bank of India v. Sri. Dayanand Dasram

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sri. Dayanand Dasram

Case brief

What is this about?

What did the court decide?

What the court decided

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