Allowed

State Bank of India v. Mr. Peddi Ravi

DRT3 Oct 2025OA/271/2025

Case brief

AI extract

What is this about?

In OA No. 271 of 2025, the Debt Recovery Tribunal allowed the State Bank of India's application for recovery of Rs.86,83,985/- along with interest and costs, finding the bank established its claim through documentary evidence while the defendant remained absent.

What did the court decide?

Ordered defendant to pay Rs.86,83,985/- with future interest @ 7.25% p.a. from 27.05.2025, allowed sale options for mortgaged property, and issued recovery certificate.

State Bank of India versus Mr. Peddi Ravi — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.I AT HYDERABAD

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DATED THrS THE 3RD DAy OF OCTOBE& 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.27l 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 Ravi, S/o Mr. P. Rajeshwar, occ: business, R/o H.No.7-31, PIPRI, Armoor Mandal, Nizamabad district, TS - 503 224.

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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 filed the present OA against Defendant for recovery

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or 1!olflSUU[.Rs.85,83,98s/- (Rupees Eighty six Lakhs Eighty A#-'*e;1p-efifffi^Hundredand Eishty Five onty)i.e., rit) A surn:;bf ns.B{+{s55/- with future interest @ 7.25o/o p.a with '! ',tt !i i: ,''&fitrfifr/r3ffi o"ii 27.0s.202s tir the date or rearization; tl,./ i. ,ia?a",'l#]a''"vJ'lt"z"LrrrLrrsLtqLsullEclllz.oLlull,\ i-t' l,;. ,:i. ;l;.if',,rji,!/ o;. -il :^{-, n,,,"{"rr#::;;} lii;;"' ",-'q.E:

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(oA.No.271l202s)

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b) A sum of Rs.4,40,430/- with future interest @ 7.25o/o p.a with monthly rests from 27.05.2025 till the date of realization; And in default for sale of mortgaged 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 availed Home loan facility of Rs.71.00 lakhs and Suraksha Home Insurance of Rs.3,79,000/- 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 05.05.2024 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 08.09.2025.

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Sri J.R. Rao, Managerof theApplicant Bankexamined himself asAW.1 and exhibited relevant documents, which are marked as Ex.A.1 to

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A.11.

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Heard icant Bank.
0 3 ocr il25

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(oA.No.2711202s)

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The^point that arise for consideration^{is whether the ApplicantBankis} entitled for the claim madeⁱⁿ the^{OA against the Defendantas prayed} for?

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Defendant remained exparte.^{To substantiatethe case of the} Applicant Bank, AW.1, official^{of the Applicant Bank was examinedand} he exhibited relevant documents^{as Ex.A1to A.11. In view of the} above, I hold that the^{Applicant Bank has establishedtheir claim made} in the OA against the^{Defendantand hencethe Applicant Bank is} entifled to recover the^{claimmadein the oA with future interest and} costs,

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In the result,^{the present OA is allowed with costs, as under:}

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The Defendant is liable to^{pay to the Applicant Bank a total sum of} Rs.86,83,985/-^{(RupeesEighty Six Lakhs EightyThree} Thousand Nine Hundred^{and Eighty Five only)i'e',}

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a) A sum of Rs.82,43,555/-^{with future interest@ 7.25o/o p'a from} 27.05.2025 till the date^{of realization;}

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b) A sum of^{Rs.4,40,430/-with future interest @ 7} '25o/o^{P'a from} 27.05.2025 till the date^{of realization;}

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ed to proceed against^{the schedule} towards realisation^{of the debt due'}

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loA.No.27Ll2o2sl

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The Applicant Bank is also entiiled to proceed against the person and properties of defendant towards realization of the debt due.

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The Applicant Bank is entiHed 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 3d day of Oct, 2025)

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sdl_ (G. GOPTCHAND)

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PRESIDING OFFICER

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¶42

TRUE POPT Assl. R€glstra; FAT.I, HYDERABAD:

State Bank of India v. Mr. Peddi Ravi

Case brief

What is this about?

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State Bank of India v. Mr. Peddi Ravi

Case brief

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