Allowed

State Bank of India v. Sri. Siva Kumar Bhamidipati

DRT16 May 2025OA/45/2025

Case brief

AI extract

What is this about?

In this Debt Recovery Tribunal case, the bank filed an Original Application to recover a personal loan. The defendant appeared absent. The Tribunal held that the bank established its claim through examiner testimony and documents, allowing the application with interest and costs.

What did the court decide?

The defendant is liable to pay Rs. 26,55,213/- with future interest at 11.40% p.a. from the date of filing of the OA.

State Bank of India versus Sri. Siva Kumar Bhamidipati — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERYTRIBUNAL-I^{AT HYDERABAD}

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DATED THIS THE^{16THDAY OF MAY 2025}

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PRESENT: SRI GUMMADI^{GOPICHAND,PRESIDING OFFICER}

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OA.No.45 ot 2025

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Between:

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State Bank of India, Stressed Assets^{RecoveryBranch-II,} Chikkadpally, RTC cross^roads, Hyderabad, Telangana State. Represented by its Chief^Manager

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Applicant

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VERSUS

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Sri Siva Kumar BhamidiPati, s/o Mr. JagannadhaSarma, aged 38^years, occ:^emPloYee, R/o flat no.510, block^c, Kendriyavihar,^phase 3, Hyderabad^- 500 091.

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Defendant

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Counsel for the Parties: For the Applicant For the Defendant

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Sri A.M. Kiran Kumar Expa rte

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ORDER

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The Applicant Bank filed the^{presentOA againstDefendant for}

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recovery of Rs.25,55,2L3/-^(Rupees Twenty^Six ?*;n& Two Hundred and Thirteen onlY) fbture interest @ 11 p.a with monthly rests from date of (, E¹⁶ I u lrltlJ^tqAyrnx ''lllrr tr OA till the date of

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W,----

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(oA.No.4sl202s)

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As per the averments^{in the application, the Applicant Bankstates} that defendant availed^{personalloan for a sum of Rs.25lakhs and} executed^personal agreement^{and irrevocable power of attorneyand} agreed to repay in^{72 EMIs from 30'01.2024till 30'01'2030' After} availing the loan facility,^{the defendant failed to comply the terms of} sanction, hence the applicant^{bank was constrainedto classifythe} account as NPA on^{28'09.2024and issuedlegal noticedated} 06.01.2025. Inspite of^{several requests and demands,the} defendant did^{not clear the outstanding. Hencethis OA'}

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Defendant called absent^{and set exparte on 02.05.2025'}

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Smt M. Sarala, Manager of^{the ApplicantBank examined herself as} AW.1 and exhibited relevant documents,^{which are markedas} Ex.A.1to A.9.

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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 ApplicantBank is} entitled for the claim made in the OA against the^Defendantas

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prayed for?
6
ffi
7. Defen called absent and exparte. To substantiate the case
1 E lAy rnr
of th official of the Applicant Bank was

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(oA.No.4sl202s)

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examined and he exhibited relevant documents as Ex.Al to A.9.^In view of the above, I hold that the Applicant Bank^{has established} their claim made in the OA against the Defendant and^hencethe 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.26,55,213l- (Rupees Twenty Six Lakhs Fifty^Five thousand Two Hundred and Thirteen only) with future interest @ 11.40olo p.a from date of filing of OA till the date of realization.

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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 16th

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"&r-U: sd/-
B * 1EuAYrr75 : PRESIDING (G. GOPTCHAND)OFFICER
^s
Wry9

State Bank of India v. Sri. Siva Kumar Bhamidipati

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sri. Siva Kumar Bhamidipati

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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