Allowed

State Bank of India v. Mr. Ellendula Venu

DRT16 Sept 2025OA/291/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by State Bank of India for recovery of a loanAlong with future interest against the defendant, allowing the bank to proceed against mortgaged and other properties.

What did the court decide?

Relief granted: Payment of Rs.90,51,631/- plus future interest; authority to proceed against mortgaged property and defendant's person/properties for recovery.

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

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IN THE DEBTS RECOVERYTRIBUNAL.I AT HYDERABAD

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DATED THIS THE 16rH DAY OF SEPTEMBE& 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.29l OF 2025

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Between:

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State Bank of India, Stressed Assets Recovery Branch-2, RTC Cross road, Chikkadpalli, Hyderabad,

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Represented by its Chief Manager Applicant

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VERSUS

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Mr, Ellendula Venu, S/o Ellendula Laxmi Narayana, Aged 45 years, occ: business, R/o H.No.3-9, thimmapur village, Morthad mandal, Nizamabad District, TS - 503 224.

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Defendant

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Counsel for the Parties:

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For the Applicant Sri Hari Prasad Podila

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For the Defendant Exparte

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ORDER

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The Applicant Bank filed the present OA against Defendant for recovery

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of a total sum of Ninety Lakhs Fifty One

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Thousand Six only) with future interest @ 11.65olo p.a of application till the date i; lEstpm :

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(OA.No.2911202s)

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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 roan of Rs.74.00 lakhs vide letter of arrangement dated 25.06.2020. The defendant executed term loan agreement and mortgaged the schedule mentioned property 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 and issued legal notice dated 22.04.2025. 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 22.09.2025.

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Sri A. Vijay Kumar, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents,. which are marked as Ex.A.1 to A.12.

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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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Defenda To substantiate the case of the Applica &nk, AW.1; Applicant Bank was examined and he ex as Ex.A1 to A.12. In view of the

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(OA.No.291/2o2sl

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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 ailowed with costs, as under: The Defendant is liable to pay to the Applicant Bank a total sum of Rs.9o,5l,63l/- (Rupees Ninety Lakhs Fifty one Thousand six Hundred and thirty one only) with future interest @ 11.65% p.a from date of application till the date of realization;

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The Applicant bank is entiiled to proceed against the mortgaged property as mentioned in the schedule to OA towards realization of the debt due.

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The Applicant Bank is also entitled 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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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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communicate a copy of the order to the parties concerned.

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14..,^{transcribed by her, corrected,} signed and pronounced by me in the open court on of.gBpt, 2025)

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TRUE GOPY
1 0 fl125 (G. GOPTCHAND)
n",,lftFl[,, PRESIDING OFFICER
DRt" t. iiyn5r?eRAf
3

State Bank of India v. Mr. Ellendula Venu

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mr. Ellendula Venu

Case brief

What is this about?

What did the court decide?

What the court decided

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