Allowed

State Bank of India v. Sri .Chedalu Satyanarayana

DRT27 Mar 2025OA/464/2024

Case brief

AI extract

What is this about?

In an Original Application for recovery of dues arising from housing and personal loans, the Debts Recovery Tribunal declared the defaulting borrower liable to pay the principal, accrued interest, and authorized proceedings against mortgaged and other properties of the borrower.

What did the court decide?

Recovery Certificate issued directing Defendant to pay Rs.31,25,269/- plus future interest and authorize proceedings against mortgaged properties and personal assets.

State Bank of India versus Sri .Chedalu Satyanarayana — Specific Performance | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.I AT HYDERABAD

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DATED THIS THE 27fH DAY OF MARCH'2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.464 of 2024

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Between:

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State Bank of India, Stressed Asset Recovery Bra n ch (sARB-rI), 1-B-563/1, RTC Cross roads, opp Sandhya theatre, 1't floor, Chikkadpally, Hyderabad- 20. Represented by its Chief Manager

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Applica nt

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VERSUS

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Sri ChedaluSatyana rayana S/o Sri Gangaram, male, major, R/o 2-31, Kathailapur, Chinthakunta, Kothlapur-5 05462.

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Also at:

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H.No,4-1-16lt & 4-t-77 / 7, Paddapuramwada, Korutla - 505 326.

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Defendant

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Cou nsel for the Parties:

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For the Applicant Sri P.V. Satyanarayana
For the Defendant Expa rte
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(oA.No.a6a/2024)

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ORDER

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The Applicant Bank filed the present OA against Defendant for recovery of a total sum of Rs.31,25,269l- (Rupees Thirty One Lakhs Twenty Five thousand Two hundred and Sixty nine only) i.e.,

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a) A sum of Rs.14,10,172/- under housing loan with further interest @ 11.75%^p.awith monthly rests from date of filing of OA till the date of realization;

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b) A sum of Rs.42,336/- under SBI Suraksha loan with further interest @ 11.75% p.awith monthly rests from date of filing of OA till the date of realization;

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c) A sum of Rs.16,83,017/- with further interest @ 10.75% p.awith monthly rests from date of filing of OA till the date of realization; and in default for sale of mortgaged property as described in the schedule to OA.

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As per the averments in the application, the Applicant Bank states that defendant availed housing loan to the tune of Rs.12.00 lakhs and SBI Suraksha loan of Rs.63,410/- on 16.10.2015 and executed necessary security loan docgments in favour of Applicant bank.

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Su defendant availed SBI Home top up loan of Rs srf};f'$N of arransement dated 21.06.2018. To '! lE ' ,r\ secu r( due ayment of #oresaid loan limits, the defendant created

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'f ? 7^t'![R 2025

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(OA.No.a6a/20241

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mortgage of schedule mentioned property. 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 on 29.07.2024 and issued legal notice on 14.tt.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 05.03.2025.

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Sri SarojMishra, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.13.

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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 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 the Applicant Bank was examined and he exhibited relevant documents as Ex.A1 to A.13. In view of the above, I hold that the Applicant Bank has established their claim made in Defendant and hence the Applicant Bank is en ;m",.;; made in the OA with future interest

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dru LUSL'. ? / l,tAfl Im ), ,'

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(oA.No.464/20241

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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.3L,25,269/- (Rupees Thirty One Lakhs Twenty Five

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thousand Two hundred and Sixty nine only) i.e.,

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a) A sum of Rs.14,10,1721- under housing loan with further interest @ 11.75olo p.afrom date of filing of OA till the date of realization;

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b) A sum of Rs.42,336/- under SBI Suraksha loan with further interest @ 11.75olo p.afrom date of filing of OA till the date of realization;

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c) A sum of Rs.16,83,017/- wilh further interest @ 10.75% p.a from date of filing of OA till the date of realization;

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The Applicant Bank is entitled to proceed against the mortgaged property as mentioned in the schedule to OA towards realization of the debt due.

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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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Th ed to the costs of the OA.
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(oA. No.464/2024)

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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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13, 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 an the open court on this the 27th day of March, 2025)

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sd/_ (G. GOPTCHAND) PRESIDING OFFICER

State Bank of India v. Sri .Chedalu Satyanarayana

Case brief

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State Bank of India v. Sri .Chedalu Satyanarayana

Case brief

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What did the court decide?

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