Allowed

State Bank of India v. Mrs. Niharika Malapati

DRT26 Feb 2025OA/353/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the Original Application filed by State Bank of India to recover a personal loan of approximately Rs.30.50 lakhs from Mrs. Niharika Malapati. The court held that the bank's claim was sufficiently established through the examination of an official and production of documentary evidence.

What did the court decide?

Allowed the OA; directed Defendant 1 to pay Rs.30,50,599 with future interest @13.10% p.a. and costs; issued Recovery Certificate.

State Bank of India versus Mrs. Niharika Malapati — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE 26THDAY OF FEBRUARY,2025

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PRESENTI SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No,353 ot 2024

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Between:

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State Bank of India, Stressed Assets Recovery Branch, 2"d floor, TSRTC Bus Terminal complex (Commuter Amenity Centre), Koti, Hydera bad. Represented by its Chief Manager

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Applicant

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VERSUS

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Mrs.NiharikaMalapati, Aged about major, H.No.55-1-110, 2nd building oppprathiba College, Enumamula Warangal, Adilabad, TS - 506 015.

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Medical Officer, H.No.1-2-270.45.D1, MG Road, Main Road, Suryapet H.O,

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Suryapet - 508 213. Near Telangana Thalli Statue, Beside Laxmi Vilas Bank,

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Near Lane Opp to Vijetha hotel.

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Defendants

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Counsel for the^parties:

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For the Applicant Sri C. Sreedhar

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For the Defendants Exparte

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:
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¶18

(OA.No.3s3/2024)

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ORDER

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1, The Applicant Bank fired the present oA against Defendant for recovery of a total sum of Rs.3O,5O,599/- (Rupees Thirty Lakhs Fifty Thousand Five Hundred and Ninety Nine only) (Rs.17,64,974/- + Rs.12,95,6251-) with further interest @ 13.10o/o p'awith monthry rests from date of apprication tiil the date of rea lization.

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As per the averments in the apprication, the Appricant Bank states that defendant No.1 avaired personar roan of Rs.20.00 rakhs under the scheme of Xpress credit vide letter of arrangement on 06.08,2021. To secure the repayment of aforesaid loan limit, the defendant no.1 executed personal loan agreement dated 20.0L.2023 in favour of Applicant bank. After avairing the roan facirity, the defendant failed to comply the terms of sanction, hence the applicant bank was constrained to classify the account as NpA on 16.11.2023 and issued legal notice dated 30.09.2024. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

¶22

Defenda
lled absent and set exparte on t4.02.2025.
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(OA. No.3s3/2024)

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Sri ManjulDixit, Manager of the Appricant Bank examined himserf as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.13.

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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

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entitled for the claim made in the OA against the Defendants as prayed for?

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Defendants remained exparte. To substantiate the case of the Applicant Bank, AW.1, officiar of the Appricant Bank was examined and he exhibited rerevant documents as Ex.A1 to A.13. In view of the above, I hord that the Appricant Bank has estabrished their craim made in the oA against the Defendant and hence the Appricant Bank is entitled to recover the claim made in the oA with future interest and costs.

¶29

B. In the result, the present OA is allowed with costs, as under: The Defendant No.1 is riabre to pay to the Appricant Bank a totar sum of Rs.3O,50,599/- (Rupees Thirty Lakhs Fifty Thousand Five Hundred and Ninety Nine only) (Rs.17,64,974/_ +

¶30

Rs.1 ith further interest @ 13.10% p.a from date of
ffi,, of realization ;
6,
*
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2 6 FrB 2025

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(oA, No.3s3/202a)

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The Applicant Bank is also entiUed to proceed against the person

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and properties of defendant No.1 towards realization of the debt

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due.

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

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11' The Appricant shail 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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13' Communicate a copy of the order to the parties concerned.

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Ifffiif.r,jfl ["rtl;;f:fi:!i". by her, corrected, siened and pronounced by me in the open court on

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sd/(G. GOPTCHAND) PRESIDING OFFICER

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5t
2 6 rEB 2025

¶42

AYitYty-
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¶43

State Bank of India v. Mrs. Niharika Malapati

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mrs. Niharika Malapati

Case brief

What is this about?

What did the court decide?

What the court decided

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