Allowed

State Bank of India v. Sri. Male Venkat Reddy

DRT16 May 2025OA/373/2024

Case brief

AI extract

What is this about?

The DRT allowed the OA filed by the State Bank of India for recovery of Rs.50.96 lakhs with interest from the respondent-defendant agriculturist, upholding the bank's claim supported by evidence of loan sanction and mortgage creation.

What did the court decide?

Recovery of Rs.50,96,100/- with future interest @ 15% p.a. from 01.04.2024; consortium right enforced; recovery certificate issued.

State Bank of India versus Sri. Male Venkat Reddy — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE 16TH DAY OF MAY 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.373 of 2024

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Between:

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State Bank of India, R.P. Road branch, Near clock Tower, Hyderabad road, Nalgonda, Telangana state. Represented by its Chief Manager

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Applicant

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VERSUS

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Sri Male Venkat Reddy, s/o Pichi Reddy, aged about 52 years, occ: agriculture, R/o China Madharam village, Kanagalmandal, Nalgonda dist.

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Defendant

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Counsel for the Parties:

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For the Applicant Sri A.V.S. Rama Krishna

For the Defendant

Expa rte

ORDER

The Applicant Bank filed the present OA against Defendant for recovery of q,&l4se,pf Rs.5O,96,1OO/- (Rupees Fifty Lakhs Ninety ne hundred only)with current and TP futu re alf yearly rests from 01.04.2024 till

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lOA.373^{ol 2024].}

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the date realization and in default for sale of mortgaged property as mentioned in the schedule property.

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As per the averments in the application, the Applicant Bank states that defendant is an agriculturist availed term loan of Rs.10.00 lakhs and KSC loan of Rs.5,00,000/- on 28.09.2011, The defendant created mortgage of schedule mentioned property and deposited the title deeds in favour of Applicant bank. 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 dated 31,01.2022. 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 07.03.2025.

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Sri R.K. Gupta, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as

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Ex.A.1to A.15.

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g Applicant Bank.
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(oA.373 of ZOZaI

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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 called absent and set 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.15. 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: The Defendant is liable to pay to the Applicant Bank a total sum of Rs.5O,96,1OO/- (Rupees Fifty Lakhs Ninety Six Thousand and One hundred only) with current and future interest @ 15% p.a from 01.04.2024 till the date of realization.

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The applicant bank is entitled to proceed against the mortgaged

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property as mentioned in schedule to OA towards retaliation of the
'7
debt due. 6- -ffi
10. Frt Bankd$ also to proceed against the person and
$ or oh6nUaVrotffiwar# lization of the debt due.
Er.
,e.

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(OA.373 of 2024)

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

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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 16th day of May'2025)

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sd/WETry (G. GOPTCHAND) ,#f,;ffi-'xlJ"' PRESIDING OFF]CER

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State Bank of India v. Sri. Male Venkat Reddy

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sri. Male Venkat Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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Case details

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