Allowed

State Bank of India v. Valluri Dhanunjaya Rao

DRT31 Jan 2025OA/377/2024

Case brief

AI extract

What is this about?

The Tribunal allowed the recovery application filed by State Bank of India against Valluri Dhanunjaya Rao. The bank was awarded a decree for recovery of three distinct loan accounts totaling Rs. 24,35,590 with interest and costs, and issued a recovery certificate.

What did the court decide?

Decree for recovery of Rs. 24,35,590 with interest; costs awarded; recovery certificate issued; proceedings against properties allowed.

State Bank of India versus Valluri Dhanunjaya Rao — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERYTRIBUNAL.I AT HYDERABAD

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DATED THIS THE 31ST DAY OF JANUARY'2025

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PRESENT: sRI GUMMADI GoPIcHAND, PRESIDING oFFICER

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OA.No.377 ol 2024

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Between:

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State Bank of India, Stressed Assets Recovery Branch, 2nd floor, TSRTC, CAC, Koti, Hyderabad, Telangana State_500 095. Represented by its Chief Manager

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Applicant

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VERSUS

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ValluriDhanunjaya Rao, C/o V. Purna Rao, Aged about 47 years, occ: Govt employee, Male, Address: 25-29/ tB/ Lt/2, Sri Sai Nagar colony, Beeramguda, Ramachandrapuram, Sangareddy, Telangana - SO2 032.

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Also at:

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C/o Telephone Exchanoe Patancheru, Sanga.eOiy, Telangana - 502 319.

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Defendant

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Counsel for the For the Applica Smt Tarangini pisipati For the Defend rte 31 JAil^2tl[

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The Applicant e present OA against Defendant for recovery of a total sum of Rs.24,35,S9O/_ (Rupees Twenty Four Lakhs Thirty Five Thousand Five hundred and Ninety only) ie.,

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lOA.No.377 /20241

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a) A sum of Rs.8,55,271l- under loan A/c. no.39537204134 with interest @ 12.600lo p.a with monthly rests from L5.70.2024 tin the date of realization ;

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b) A sum of Rs.11,99,419/- under loan A/c. no.4077773052 with interest @ 12.85o/o p.a with monthly rests from 15.10.2024 till the date of realization ;

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c) A sum of Rs.3,80,900/- under Loan a/c. No.41296163085 with interest @ 10.30olo p.a with monthly rests from 15.10.2024 till the date of realization;

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As per the averments in the application, the Applicant Bank states that defendant avaired personar roan of Rs.14.40 rakhs vide retter of arrangement dated 30.07.2020repayable in 72 monthly installments of Rs.27,ll5/- each. The defendant executed personal loan agreement dated 30.07.2020. Further the defendant again availed personal loan of Rs.11,96,900/- vide retter of arrangement dated 70.02.2022 and executed personal loan agreement. SubsequenUy the defendant avaired vehicre roan for a sum of Rs.g.00 rakhs on 22'09.2022 and executed hypothecation agreement. After avairing the loan facilities, the defendant failed to comply the terms of sanction, h"nce'!!g applicant bank was constrained to classify the accou n .2023 and issued recall notice dated

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.6 I requests and demands, the defendant ence this OA.

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(oA. No.377l2024)

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Defendant called absent and set exparte on t2.t2.2O24.

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4' Sri P. sandeep, Manager of the Appricant Bank examined himserf as AW.1 and exhibited rerevant documents, which are marked as Ex.A.1 to A.14.

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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 Defendant as prayed for?

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7, Defendant 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.14. 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 Appricant Bank is entitred to recover the craim 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.24,35,59O/- (Rupees - Twenty Four Lakhs Thirty Five red and Ninety only) ie.,

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(oA.No.377 /2024)

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a) A sum of Rs.8,55,271l- under loan A/c. no.39537204734 with interest @ 12.600/o p.a from L5.r0.2024 tiil the date of realization;

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b) A sum of Rs.11,99,419l- under loan A/c. no.4077773052 with interest @ 12.85o/o p.a from 15.10.2024 tiil the date of realization;

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c) A sum of Rs.3,80,900/- under Loan a/c. No.41296163085 with interest @ 10.300/o p.afrom 15.70.2024 ti[ the date of realization;

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The Applicant Bank is also entitled to proceed against the person

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and properties of defendant towards realization of the debt due.

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The Applicant Bank ls entiUed to the costs of the OA.

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11' The Appricant sha, 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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Communicate a copy of the order to the parties concerned.

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State Bank of India v. Valluri Dhanunjaya Rao

Case brief

What is this about?

What did the court decide?

State Bank of India v. Valluri Dhanunjaya Rao

Case brief

What is this about?

What did the court decide?

What the court decided

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