Allowed

State Bank of India v. Sri. Variganj Sridhar

DRT11 Sept 2025OA/250/2025

Case brief

AI extract

What is this about?

In this Original Application, the State Bank of India sought recovery of unpaid home and personal loans. The Debts Recovery Tribunal, hearing the case ex parte, held that the bank established its claim through documentary evidence and allowed the application for recovery of the principal sum along with future interest and costs.

What did the court decide?

Defendants declared jointly and severally liable to pay Rs. 48,35,866/- with future interest; recovery certificate issued.

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

¶1

IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD

¶2

DATED THIS THE l1rH DAy OF SEPTEMBER. 2025

¶3

PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

¶4

OA.No.25O ol 2025

¶5

Between:

¶6

State Bank of India,

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Stressed Assets Recovery Branch, 2nd floor, TSRTC commuter Amenity Centre, Bus terminal complex, Koti, Hyderabad - 500 095. Represented by its Chief Manager

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Applicant

¶9

VERSUS

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Sri Variganj Sridhar, s/o V. Bala Koteswar Rao,

¶11

aged 54 years, male,

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Qr.No.3245,^{ODF Estate,} Yeddulamailam,

¶13

Medak dist - 502 205.

¶14

Mr. Gosala Nirmal Kumar, s/o G. Krishna Murthy,

¶15

aged major, male, Qr.2668,^type-2,

¶16

ODF Estate, Yeddulamailaram, Medak - 502 205.

¶17

Defendants

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Counsel for the

¶19

For the Appli Sri C. Prabhakar
For the Expa rte
11 srp
;
1. The
present OA against Defendants for
recovery of a total sum of Rs.48,35,866/- (Rupees Forty Eight

¶20

(oA.2s0 of 202s)

¶21

Lakhs Thirty Five Thousand Eight hundred and Sixty Six only)

¶22

i.€.,

¶23

A) a sum of Rs.24,23,356/- with further interest @ L4.40o/o p.a with monthly rests from date of filing of OA till the date of realization

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B) a sum of Rs.10,71,336/- with further interest @ 15.05o/o p.a with monthly rests from date of filing of OA till the date of realization

¶25

C) a sum of Rs.13,41,174/- with further interest @ 14.4Qo/o^p.a with monthly rests from date of filing of OA till the date of realization and in default for sale of mortgaged^property as mentioned in the schedule to OA;

¶26

As per the averments in the ap rplication, the Applicant Bank states that defendant No,1 and 2 av ai leled housing loan of Rs.21,89,000/- for purchase of schedule pro p erlerty on 13.07.20L5. Defendant no.2 executed guarantee agreemennent dated 13.07.2015. The defendants also availed personal loan o ff Rs.10.00 lakhs on 26.09.2023 and executed^personal loan agreemtement. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the accountc as NPA and legal notice was issued on 15.05.2025. Inspite of seve: ral requests and demands, the defendants did not g!9:?r,ths+{tsta ndins.g. Hence this OA.

¶27

,.-,- .-.: .'"'-l -:!1,...i\
r-t .'. ; '"9 -:l{ \
3. o"r"r1'il,ii." ffi, "o ffi." nd set " o exparte on 02.09.2025.
-*t
r',ir .. -- i
r, -r f l sEP zl[5 : ji i
! r [ \ .i{ r..\ .:rr'-':' ^-, l,
<br>,; ' . "r'.r ., .r',. -,-.- - $' .:,'/-s, .,.r 2
'.i.iii_f;Tig.i

¶28

(oA.2s0 of 202s)

¶29

Sri Govind Raju, Manager of the Applicant Bank examined herself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A. 12.

¶30

Heard the Ld. Counsel for the Applicant Bank.

¶31

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?

¶32

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.A1 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.

¶33

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.48,35,8661- (Rupees Forty Eight Lakhs Thirty Five Thousand Eight hundred and Sixty Six only) i.e.,

¶34

a) a sum of Rs.24,23,356/- with further interest @ 14.40olo^p,a ing of OA till the date of realization .,.] . ''.^:.. ;!,.^ '^..,3i ?=H JJi. .-b)^, a su.ffil tl:.J of 1,336/- with further interest @ 15.05o/o p.a OA till the date of realization ;^fryT#mrnrit 3 i#.^^. -s^q '{S;;w,tW

¶35

(OA.2s0 of 2025)

¶36

¶37

c) a sum of Rs.13,41,174/- with further interest @ 14,40%^p.a from date of filing of OA till the date of realization.

¶38

The Applicant bank is entitled to^{proceed against the hypothecated} movables as mentioned in the schedule to OA^{towards realizationof} the debt due.

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The Applicant Bank is also entitled to^{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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12, The Applicant shall file a cost memo^within two^{weeks from the date} of receipt of order.

¶42

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^courton this the 11s day of Sept, 2025)

¶45

sd/-

¶46

(G. GOPTCHAND) PRESIDING OFFICER

¶47

o"w
n#ilvn?srsrn'
4

State Bank of India v. Sri. Variganj Sridhar

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sri. Variganj Sridhar

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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