Allowed

State Bank of India v. Sri , Jumpula Shekar

DRT13 Feb 2025OA/323/2024

Case brief

AI extract

What is this about?

In OA No.323 of 2024, the Debts Recovery Tribunal allowed the State Bank of India's claim for recovery of personal loans. The Tribunal held that the bank established its claim through witness testimony and document exhibits, entering an ex parte order against the absent defendant.

What did the court decide?

Applicant allowed to recover Rs.24,00,478/- with interest; allowed costs of OA; Recovery Certificate issued.

State Bank of India versus Sri , Jumpula Shekar — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 13TH DAY OF FEBRUARY'2c.25

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.323 of 2024

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Between:

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State Bank of India, Stressed Assets Recovery Branch-II, First floor, Opp Sandhya Theatre, RTC Cross Road, Chikkadpally, Hyderabad.

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Represented by its Chief Manager

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Applicant

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VERSUS

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Sri JumpulaShekhar, s/o Sri J. Allaji, H.No.12-49, Tilaknagar, Gandeed, Mahabubnagar, Telangana- 509 324.

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Defendant

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Counsel for the Parties:

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For the Applicant

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For the Defendant

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Sri M.V. Janaki Ram Exparte

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ORDER

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The Applicant Bank filed the present OA against Defendant for

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recovery of a total sum of Rs.24,OO,478l- (Rupees Twenty Four Lakhs undred and Seventy Eight only) i.e.,

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a) 118/- with interest @ 10.70olo p.awith monthly till the date of realization;

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1 3 FFB ?n25

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ih',r,"*'u"{t9 W#l?"99

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(oA.N0.323 OF 2024)

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b) A sum of Rs.6,70,360/- with interest @ 12.55olo p.a with monthly

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rests from 12.08.2024 till the date of realization;

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2' As per the averments in the apprication, the Appricant Bank states that defendant availed personal loan under Xpress credit scheme for a sum of Rs.t6,24,400/- vide letter of arrangement dated Lr.052022. The defendant agreed to repay the roan with interest @ t0.70o/o p.a with roan repayabre in 72 equated monthry instarment of Rs.30,670l-. Again the defendant availed personal loan of Rs.6.00 lakhs on 29.L0.2022 and agreed to repay the loan with interest @ 12.55o/o p.a with EMI of Rs.11,903/-. After availing the loan facilities, the defendant failed to comply the terms of sanction, hence the applicant bank was constrained to crassify the account as NPA and issued regar notice dated 26.07.2024. 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 31.t2.2024.

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sri Jeval Rama Rao, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as

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Ex.A.1 to A.11.

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the Applicant Bank. _q ' '-, .t^{r .t FEr ?W} r.^]] ,! R'h*\3$#'

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(OA.No.323 OF 2024)

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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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7, Defendant remained exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited relevant documents as Ex.Al to A.11. 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 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 allowed with costs, as under:

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The Defendant is liable to pay to the Applicant Bank a total sum of Rs.24,OO,478l- (Rupees Twenty Four Lakhs Four hundred and Seventy Eight only) i.e.,

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a) A sum of Rs.17,30,118/- with interest @ 10.70olo p.afrom t2.08,2024 till the date of realization;

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b) A sum of Rs.6,70,360/- with interest @ 12.55o/o p.afrom L2.08.2024 till the date of realization;

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The Applicant Bank is also entitled to proceed against the person and t towards realization of the debt due. ffi &s

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The Applica nt^gEhk is to the costs of the OA. '1 1 lrl 3 FEB ?W "d

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::.?.,{

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(oA, No.323 oF 20241

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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 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 13th day of Feb, 2025)

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sdl(G. GOPTCHAND) PRESIDING OFFICER

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WJry

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frv,ffih Hvrrolnan.

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State Bank of India v. Sri , Jumpula Shekar

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sri , Jumpula Shekar

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

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Case details

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