Allowed

State Bank of India v. Mrs. Geeta Priyanka Vyde

DRT15 May 2025OA/461/2024

Case brief

AI extract

What is this about?

This Debt Recovery Tribunal allowed an Original Application seeking recovery of a defaulted Xpress Credit personal loan. The Tribunal, in an exparte decision where the defendant was absent, held that the bank had substantiated its claim through documentary evidence.

What did the court decide?

Defendant to payRs.24,32,179/- with interest @ 13.30%p.a.from date of OA filing till realization and OA costs.

State Bank of India versus Mrs. Geeta Priyanka Vyde — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I^{AT HYDERABAD}

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DATED THIS THE 15TH DAY OF MAY 2025

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PRESENT: SRI GUMMADI GOPICHAND,^{PRESIDING OFFICER}

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OA.No.461 of 2024

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Between:

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State Bank of India, Stressed Assets Recovery Branch-II, 1-8-563/1, 1't floor, Opp Sandhya theatre, RTC cross roads, Chikkadpally, Hyderabad, Telangana State. Represented by its Chief Manager

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Applicant

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VERSUS

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Mrs. Geetha Priyanka Vyde, D/o Ch. Venkata Chandra Kiran, major, Male, R/o flat no.2-105, Gopayilanka, Near peddaBaavi, Godithippa, Allavaram, East Godavari Dist- 533 217.

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And also at

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R/o H.No.4-42-LOlg,^plot no.143, 1tt floor, paparayudunagar, Kukatpally, Hyderabad - 500 072.

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DeFenda nt

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Counsel for the Parties:

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For the Applicant

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For the Defendant

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Sri P.V. Satyanarayana

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Expa rte

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' '.lril^sj ORDER "c:r'c. "-r^ It tffiriifft B filed the present OA against Defendant for mof Rs.24,32,L79/(Rupees Twenty Four

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(oA. No.461l2024)

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Lakhs Thirty Two Thousand One hundred and seventy nine

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only) with further interest @ 13.30olo p.a with monthly rests from date of filing of OA 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 loan limit for a sum of Rs.25 lakhs on 16.08.2023 and executed personal loan agreement and also agreed to repay the loan amount in 72 EMIs @ Rs.47,971/-. After availing the loan facilities, 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 20.Lt.2024. 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 21.04.2025.

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Sri B. Ramakrishna, Manager of the Applicant Bank examined himself as AW.1 and exhibited releva nt documents, which are marked as Ex.A.1 to A.6.

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nea.otnero^tbffi Applica nt Bank.
*
1 5 l'lN ?flfi

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(oA.No.461/2024)

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The^point that arise^{for consideration is whether the ApplicantBank is} entitled for the claim^{made in} the^{OA againstthe Defendantas} 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'6' 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.24,32,L791-^(Rupees Twenty Four^{Lakhs Thirty Two} Thousand One hundred and seventy^{nine only) with further} interest @ 13.30o/o^p,a from date^{of filing of OA till the date of} realization.

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the Applicant Bank is also^{entitled to proceedagainst the personand}

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properti towards realization of the debt^due'

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l*d\ b-%
10. to the costs of the OA.
+
.t *o-S/
&ffitq9'

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(oA.No.461/2024)

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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 theopen} court on this the 15th day of^May'2025)

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1 5 t'lN 206

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IRUE OOPW , , sd/-
(G. GOPICHAND)
ct e %r,.r
AsedftEg$lrar PRESIDING OFF]CER
DRT.T, HYDERAgAD.

¶40

State Bank of India v. Mrs. Geeta Priyanka Vyde

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mrs. Geeta Priyanka Vyde

Case brief

What is this about?

What did the court decide?

What the court decided

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