Allowed

State Bank of India v. Sri. Pilla Krishna Mohan

DRT2 Apr 2025OA/454/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the applicant bank's application for recovery of a loan default of Rs. 26,56,393 including interest, citing establishment of claim via evidence and holding the defendant liable to pay with future interest and costs.

What did the court decide?

Recovery certificate issued; Defendant liable to pay Rs. 26,56,393 along with interest at 11.80% per annum from 30.07.2024 and costs of the OA.

State Bank of India versus Sri. Pilla Krishna Mohan — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE 2NDDAY OF APRIL'2025

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PRESENT: SRI GUMMADI GOPIcHAND, PRESIDING oFFICER

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OA.No.454 ol 2024

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Between:

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State Bank of India, SARB-II Branch, Opp Sandhya theatre, RTC "X" roads, Chikkadpally, H ydera bad. Represented by its Chief Manager

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Applicant

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VERSUS

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Sri Pilla Krishna Mohan, S/o P. Papi Naidu, aged 36 years, Occ: Private employee, R/o H.No. 1-10-28/234/56 A, Meenakshi nagar, naga rj u na Nagar colony, Kushaiguda, Hyderabad, Rangareddy dist, Telangana -500 062.

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Also at

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E/o Cap Gemini Technology Services Private ltd, Sy.No.111/32 & 35, Nanakramguda, Hyderabad, Telangana State Represented by its Chief Manager

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Defendant

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Counsel for the Parties:

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For the Applicant

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For the DeFen

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Sri M. Venkat Divakar Expa rte

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O 2 APRtW

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(OA. No.a5al202a)

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ORDER

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The Applicant Bank fired the present oA against Defendant for recovery of a total sum of Rs.26,56,393/- (Rupees Twenty Six Lakhs Fifty Six Thousand Three Hundred and Ninety Three only) with further interest @ 11.80o/o p.awith monthly rests from 30.tL.2024 till the date of realization.

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As per the averments in the application, the Applicant Bank states that defendant availed personal loan under Xpress credit elite scheme for a sum of Rs.25.00 rakhs on 31.08.2023. The defendant agreed to repay the personal loan with fixed rate of interest @ 11.800/o per year and the roan is to be repaid in 72 equated monthry instalments of Rs.48,616/- starting from 15.09.2023. After availing the loan facirity, the defendant faired to compry the terms of sanction, hence the appricant bank was constrained to crassiFy the account as NpA on 29.06.2024 and issued notice on 0t.77.2024. Inspite of severar requests and demands, the defendant did not crear the outstanding. Hence this OA.

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Defendant called absent and set exparte on 06.03.2025.

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,.' ,.-",rdao+&q pplica nt Bank examined himself as AW.l,iarld exhibite? relevarlt uments, which are marked as 0Z apam; " ** Ex.A.1 to:.A.8 t.

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'-tn#

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(oA. No.4s4l2024)

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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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Defendant remained exparte. To substantiate the case of the Applicant Bank, AW.1, official of ihe Applicant Bank was examined and he exhibited relevant documents as Ex.A1 to A.B. 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 riabre to pay to the Appricant Bank a totar sum of Rs,26,56,393/- (Rupees Twenty Six Lakhs Fifty Six Thousand Three Hundred and Ninety Three only) with further interest @ 11.80o/o p.afrom 30.It.2o24till the date of realization

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The Applicant Bank is also entiiled to proceed against the person

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and properties of defendant towards realization of the debt due.

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The
titled to the costs of the OA.
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(oA. No.454 12024)

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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 2ndday of April, 2025)

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sd/ - (G. GOPTCHAND) PRESIDING OFFICER

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State Bank of India v. Sri. Pilla Krishna Mohan

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sri. Pilla Krishna Mohan

Case brief

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What did the court decide?

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