Allowed

State Bank of India v. Kannuri Kanaka Durga Prasad

DRT24 Apr 2025OA/355/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Applicant Bank's Originating Appeal for recovery of dues totaling Rs. 24,98,609.48 from the Defendant, finding the bank established its claim through examined witnesses and documentary evidence.

What did the court decide?

Defendant liable to pay Rs. 24,98,609.48 with interest; Applicant Bank entitled to recover from mortgaged property and other assets; Recovery Certificate issued.

State Bank of India versus Kannuri Kanaka Durga… — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.I AT HYDERABAD

¶2

DATED THIS THE 24TH DAY OF APRIL' 2025

¶3

PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

¶4

OA.No.355 of 2024

¶5

Between:

¶6

State Bank of India, SARB Branch, 2nd floor, TSRTC commuter Amenity Centre, Bus terminal complex, Koti, Hyderabad - 500 095. Represented by its Chief Manager

¶7

Applicant

¶8

VERSUS

¶9

Mr. KannuriKanankaDurga Prasad, S/o K. Gangadharacharyulu, Aged about 49 years, occ: service, Male, R/o flat no.202,SRT 117, Anusri Residency, Jawaharnagar, Musheerabad, Hyderabad-500 020.

¶10

Also at

¶11

Flat no.501, 5th floor, Ushodaya Residency, Plot no.12 & 13, Gandhamguda, Peerancheru, Gandhipet, Ranga Reddy dist- 500 075.

¶12

Defendants

¶13

Counsel for the Parties:

For the Applicant

For the Defendant

SmtTaranginiPisipati

Sri M.V. Rao

ORDER

-",,,'=:t)$r+\1. tnu,,^il, .ui,,;'auru the present OA against Defendant for SU M.x Rs.24,98,609.48ps (Rupees Twenty b*l t'..:

¶20

(OA. No.3ss/2024)

¶21

Four lakhs Ninety Eight Thousand Six hundred Nine and paise Forty eight only) i.e.,

¶22

a) A sum of Rs.24,44,069/- under loan account No.376540590037 with interest @ 11.25% p.awith monthly rests from Ot.I0.2024 till the date of realization;

¶23

b) A sum of Rs.54,540.48ps under loan account No.37654238493 with interest @ 11olo p.awith monthly rests from 01.10.2024 till the date of realization;

¶24

And in default for sale of mortgaged property as described in the schedule to OA.

¶25

As per the averments in the application, the Applicant Bank states that defendant availed housing loan of Rs.23,26,000/- for purchase of schedule mentioned property vide sale deed dated 09.05.2018 registered as document no.5379/2OLB in SRO, Rajendranagar and created security interest over the same. After availing the loan facility, the defendant failed to comply the terms of sanction, hence the applicant bank was constrained to classify the account as NpA on 16.05.2024 and issued recall notice on 20.09.2024.Inspite of several requests and demands, the defendant did not clear the outstanding. Hence this OA.

¶26

akalath on behalf of defendant but

¶27

(oA.No.3ss /2024)

¶28

Smt S. KalyaniRathod, Manager of the Applicant Bank examined herself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1to A.11,

¶29

5, Heard the Ld. Counsel for the Applicant Bank.

¶30

6, 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?

¶31

Though vakalath filed on behalf of defendant but failed to file WS. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited relevant documents as Ex.A1 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.

¶32

B. In the result, the present OA is allowed with costs, as under: The Defendant is liable to pay to the Applicant Bank a total sum of Rs.24,98,609.48ps (Rupees Twenty Four lakhs Ninety Eight Thousand Six hundred Nine and paise Forty eight only) i.e.,

¶33

4)-'A 'sLtm1-;.of Rs.24,44,069/- under loan account
,/,1' '1 :.-,;r.-'.'
..;-.$. :)r " rr
Ji- No.37654059qq3.7 with interest @ 11.25o/o p.a from
.1. .- ' ir l4 ,<br>qtJQ.?024 titt thi date of reatization;
ij 't
i,g" t4 ttpfirFE ,,l
, ,)
r(|
:'i '
,!

¶34

(OA. No.355/2024)

¶35

b) A sum of Rs.54,540.48ps under loan account No.37654238493 with interest @ 11% p.afrom 0t.t0.2024 till the date of realization;

¶36

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

¶37

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

¶38

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

¶39

The Applicant shall file a cost memo within two weeks from the date of receipt of order.

¶40

Issue Recovery certificate accordingly.

¶41

Communicate a copy of the order to the parties concerned.

¶42

(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 24th day of April, 2025)

¶43

sd/(G. GOPTCHAND) PRESIDING OFFICER

¶44

...,r i:i, #YEE,tA6r10.

State Bank of India v. Kannuri Kanaka Durga Prasad

Case brief

What is this about?

What did the court decide?

State Bank of India v. Kannuri Kanaka Durga Prasad

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

All orders in this case

Similar cases

Karnataka Bank Limited versus M/S. Sri Unnati Seeds

Idbi Bank Limited versus Sri. Haligi Ramesh

State Bank of India versus M/s. Sri Mahakali Motors

State Bank of India versus Salla Ram Reddy

Union Bank of India versus M/S. Genex Tubing Solutions

State Bank of India versus M/S. Siri Mobiles and Electronics