Allowed

State Bank of India v. Mr. Kanaparthy Venkatesh

DRT28 Mar 2025OA/27/2025

Case brief

AI extract

What is this about?

This order in the DRT disposes of an Original Application filed by State Bank of India for recovery of dues. The defendant was present and the bank's evidence (loan agreement, POA, etc.) was examined. The court found the bank's claim established and allowed the application for recovery.

What did the court decide?

The OA is allowed. The Defendant is liable to pay Rs. 23,75,093/- with future interest at 13.25 p.a. from the date of filing. A recovery certificate is issued.

State Bank of India versus Mr. Kanaparthy Venkatesh — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 28TH DAY OF MARCH'2025

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PRESENT: SRI GUMMADI GoPICHAND, PRESIDING oFFICER

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OA.No.27 of 2025

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Between:

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State Bank of India, Stressed Asset Recovery Bra n ch (SARB-II), 1-8-563/1, RTC Cross roads, opp Sandhya theatre, 1" floor, Chikkadpally, Hyderabad20. Represented by its Chief Manager

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Applicant

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VERSUS

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Mr. KanaparthyVenkatesh, S/o Mr. Kanaparthy China, Aged 25 years, occ: employee, R/o Plot no.194, Sardarpatel Nagar, Opp Chaitanya School, Kukatpally, Hyderabad - 500 085.

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Defendant

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Counsel for the^parties: For the Applicant For the Defendant

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Sri A.M. Kiran Kumar Expa rte

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ORDER

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The Applicant Bank filed the present OA against Defendant for recovttr"oAq..H$.$ or Rs.23,75,093/- (Rupees Twenty nr{Axn" ffi""r#Ui* -- thousand and ninety three onry) * -.\ with J+turfl i0tilmhfr 13.35i/o p.awith monthty rests from date of ! ...,' :-.^j

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Wr#.W"iza'lon

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(OA.No.27l202s)

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As per the averments in the application, the Applicant Bank states that defendant availed personal loan for a sum of Rs.23 lakhs vide letter of arrangement dated 23.06.2023. The defendant executed personal agreement and irrevocable power of attorney and agreed to repay the loan amount in 72 monthly installments from OI.O7.2OZ3. After availing the loan facirities, the defendant faired to comply the terms of sanction, hence the applicant bank was constrained to classify the account as NpA on 2s.07.2024and issued legal notice on 25.11.2024. 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 27.02.2025.

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Sri BRK Prasad, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.6.

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5, 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 Defendant as prayed for? r{'4!e

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Applicant Balk;1 AW,1, offiEiSKBf the Appticant Bank was examined Q*#

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(oA.No.27l202s)

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and he exhibited rerevant documents as Ex.A1 to A.6. 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 Appricant Bank is entitred to recover the craim made in the oA with future interest and costs.

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B. In the resurt, the present oA is ailowed with costs, as under: The Defendant is liable to pay to the Applicant Bank a total sum of Rs.23,75,O93l- (Rupees Twenty Three Lakhs Seventy Five thousand and ninety three only) with future interest @ 13.25olo p.afrom date of filing of OA.

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The Appricant Bank is arso entiaed to proceed against the person and properties of defendant towards realization of the debt due.

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The Applicant Bank is entifled to the costs of the OA.

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11' The Appricant sha, 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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transcribed by her, corrected. s i gv "i Nr.n,'zo'jii"^' rgned and pronounced bv me in the open //4'--^''W-g1)" ,Y e9 '$d ,=, "'uo,,,;tJ^{tr!ffiK,#,:ff,;lll,t} -rtiihiffi%pi, pp:.; '1"^ioonan'

State Bank of India v. Mr. Kanaparthy Venkatesh

Case brief

What is this about?

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State Bank of India v. Mr. Kanaparthy Venkatesh

Case brief

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