Allowed

State Bank of India v. Mr. Peddi Pavani

DRT3 Oct 2025OA/270/2025

Case brief

AI extract

What is this about?

DTT 2025 allowed an OA filed by State Bank of India for recovery of Rs. 59 lakhs plus interest from a defendant who defaulted on a home loan secured by an equitable mortgage, despite the defendant being absent.

What did the court decide?

Defendant liable to pay Rs.59,35,396/- with future interest from 27.05.2025; Applicant entitled to proceed against mortgaged property and general properties for realization; Recovery certificate issue

State Bank of India versus Mr. Peddi Pavani — Cheque Dishonour | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.I AT HYDERABAD

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DATED THrS THE 3RD DAy OF OCTOBER, 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESTDING oFFICER

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OA.No.27O OF 2O2S

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Between:

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State Bank of India, Stressed Assets Recovery Branch-2, RTC Cross road, Chikkadpalli, Hyderabad, Represented by its Chief Manager

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Applicant

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VERSUS

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Mr. Peddi Pavani, w/o Mr. P.Ravi,

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occ: business, R/o H.No.7-64, PIPRI, Armoor Mandal,

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Nizamabad district, TS - S03 224.

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Defendant

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Counsel for the Parties:

For the Applicant

For the Defendant

Sri A.M. Kiran Kumar

Exparte

ORDER

The Applicant Bank fired the present oA against Defendant for recovery of a total sum of Rs.59,35,396/- (Rupees Fifty Nine Lakhs Thirty

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Five Thousand Three Hundred.and Ninety six onry)with future

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monthly rests from 27.05.2025 till the ult for sale of mortgaged property as

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(oA.No.270l202s)

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As per the averments in the application, the Applicant Bank states that defendant availed Home loan facility of Rs.73.00 lakhs and suraksha Home Insurance of Rs.1,35,000/- and agreed to repay in 360 monthly instalments. The home loan in secured by equitable mortgage of schedule mentioned property and the defendant deposited the tiue deeds in favour of applicant bank. After availing the loan facility, the defendant failed to comply the terms of sanction, hence the applicant bank classified the account as NpA on L2.05.2024 and issued legal notice dated 08.04.2025. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this oA.

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Defendant called absent and set exparte on 0g.09.2025.

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Sri J.R. Rao, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A,1 to A. 11.

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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 Defendant as prayed for?

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Defendant remained exparte. To substantiate the case of the Applicant ea1.ltr,$!V.1, official of the Applicant Bank was examined and he ents as Ex.A1 to A.11. In view of the Iihold that the Appti nk has established their claim made

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"9A nt and hence the Applicant Bank is

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(oA.No.270l202s)

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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 Appricant Bank a totar sum of Rs.59,35,396/- (Rupees Fifty Nine Lakhs Thirty Five Thousand Three Hundred and Ninety six onty)with future interest @ 6.950lo p,a from 27.05.2025 till the date of realization;

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The Applicant bank is entiUed to proceed against the schedule mentioned mortgaged property towards realisation of the debt due.

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The Applicant Bank is also entifled to proceed against the person and properties of defendant 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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t2. The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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Issue Recovery ceftificate accordingly.

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L4, 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 3rd day of Oct, 2025)

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sdl(G. GOPTCHAND) PRESIDING OFFTCER

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'::,',,kt,

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State Bank of India v. Mr. Peddi Pavani

Case brief

What is this about?

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State Bank of India v. Mr. Peddi Pavani

Case brief

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