Allowed

State Bank of India v. Smt Buddharaju Kalyani

DRT28 Apr 2025OA/359/2024

Case brief

AI extract

What is this about?

In OA No.359 of 2024, the Debts Recovery Tribunal allowed the State Bank of India's recovery application against defendant Buddharaju Kalyani. The bank established its claim via an official witness and exhibited documents proving the home and car loans, default, and mortgage. The tribunal ordered payment of approximately Rs.26 lakhs plus interest and sanctioned recovery of the mortgaged property.

What did the court decide?

Defendant to pay Rs.25,86,967/- with interest; application of sale of mortgaged property allowed; recovery certificate issued.

State Bank of India versus Smt Buddharaju Kalyani — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE 28TH DAY OF APRIL' 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING oFFIcER

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OA.No.359 ot 2024

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Between:

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State Bank of India, 2"d floor, TSRTC Commuter Amenity centre, Bus terminal complex, Koti, Hyderabad - 500 095. Represented by its Chief Manager

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Applicant

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VERSUS

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Smt Buddharaju Kalyani, W/o Sri B.V. Phani Krishna Mohan, H.No.21-48, Balaji nagar, Near GHMC office, Kukatpally, Hyderabad - 500 072. TS

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Defendant

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Counsel fbr the Parties: For the Applicant For the Defendant

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Sri C. Prabhakar Expa rte

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ORDER

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The Applicant Bank filed the present OA against Defendant for recovery of a tota I Rs.25,85,967l- (Rupees Twenty Five Lakhs Eigh. .Nine Hundred and Sixty Seven only) i.e *fe,, ,134/- with further interest @ 20 spn

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(oA. No.3s9/2024)

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11.50% p.awith monthly rests from date of filing of OA till the date of realization;

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b) A sum of Rs.34,856/with further interest @ 11.50% p.awith monthly rests from date of filing of OA till the date of realization; c) A sum of Rs.5,05,977/with further interest @ 11.75olo p,awith monthly rests from date of filing of OA till the date of reallzation; and in default for sale of mortgaged property as mentioned in the schedule to OA.

¶18

As per the averments in the application, the Applicant Bank states that defendant availed Home loan of Rs.18.00 lakhs for purchasing OA schedule property vide letter of arrangement dated 25.03.2022. The defendant created equitable mortgage on 27.04.2022 and deposited sale deed no.l4O0/2022 dated 21.04.2022 in favour of the bank. Subsequently the defendant availed car / term loan of Rs.18,45,00001- on 30.12.2022. 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 and issued legal notice on 06.08.2024. Inspite of several requests and demands, the defendant did not clear the outstanding. Hence this oA.

¶19

Defendant called

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2.2025, ? 0 Apa ?rm

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(oA. No.3s9/2024)

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Sri P. Sandeep, Manager of the Applicant Bank examined herself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1to A.20.

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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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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.A1 to A.20. 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 underi The Defendant is liable to^pay to the Applicant Bank a total sum^of Rs.25,86,967 /- (Rupees Twenty Five Lakhs Eighty Six Thousand Nine Hundred and Sixty Seven only) i.e.,

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a) A sum of Rs.20,46,134/- with further interest @^{11.50% p.a from} date of filing of OA tion; terest @ 11.50%^p.afrom b) A sum or xs.lf ,€o/ *ffi rr;UB-\ date of filing of ),rr^{,p"ptr6 $tffiutt.}

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(oA. No.3s9/202a)

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c) A sum of Rs.5,05,977/- wtth further interest @ 11.75%^p.a from date of filing of OA till the date of realization;

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The Applicant bank is entitled 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 entitled 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 28th day of April, 2025)

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?8 qPPTm

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sdl(G. GOPTCHAND) PRES!DING OFFICER tr"if;k lssf;Rdfrdnt tt4T.!, HYI|ERABAO.

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State Bank of India v. Smt Buddharaju Kalyani

Case brief

What is this about?

What did the court decide?

State Bank of India v. Smt Buddharaju Kalyani

Case brief

What is this about?

What did the court decide?

What the court decided

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