Allowed

State Bank of India v. M/S. Sree Satyanarayana Builders

DRT19 Dec 2025OA/566/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the applicant bank's original application for recovery of a term loan. The court held the defendants jointly and severally liable to pay the dues along with future interest and costs, and directed issuance of a recovery certificate.

What did the court decide?

Defendants are liable to pay Rs.9,61,47,339/- with future interest and costs; bank entitled to proceed against schedule properties and person/properties of defendants; Recovery Certificate issued.

State Bank of India versus M/S. Sree Satyanarayana Builders — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 19TH DAY OF DECEMBER, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 566 OF 2024

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State Bank of India., Stressed Assets Recovery Branch D.No. 54120-18/3FlU6,3rd Floor LJpstairs of KFC, Suryaprakash Square Gurunanak Nagar Road, Vijayawada - 520008. Represented by its Chief Manager.

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.....Applicant.

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Versus

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M/s. Sree Satyanarayana Builders, A partnership firm. Rep. by Defendants 2 to 7 D.No. 3-215, Main Road, YMR Colony Proddatur, YSR Kadapa District - 516360

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Sri Muthyala Ramesh, S/o. Sri. M. Manikyam Age: 53 Years, H.No. 13-299, Upstairs, Vedurla Bazar, Proddatur, YSR Kadapa District -516360.

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Sri Kopparapu Padmanabaiah, S/o. Sri K Bala Subbaiah, Age: 55 Years D.No. 3-215, Main Road, YMR Colony Proddatur, YSR Kadapa District - 516360.

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Sri Kakumani Satya Narayana, S/o. Sri K Narayana Swamy Age: 61, D.No. 3-286, Upstairs, Sai Kuteer Proddatur, YSR Kadapa District - 516360.

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Sri Vankadara Sreedhar, S/o. Sri V Harinatha Gupta, Age: 47^yearc, D. No. 13-258 Vedurla Bazar, Proddatur, YSR Kadapa Oistrict- 516360.

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Sri Badveli Sreenivasula Reddy, s/o sri B venkata Reddy, Age: 54^years D.No. 24/387 , Power House Road Proddatur, YSR Kadapa District - 516360.

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O%"*"

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oA.NO,556/2024

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Smt. Badveli Indira, Wo.^{Sri Badveli} Sreenivasula Reddy Age: 51 Years, D.No. 24/3a7,^power House Road, Proddatur, YSR Kadapa District - 516360,

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Smt. Jonnalagadda Sunitha, Wo.^Sri J Ravindra Babu,Age: 53 years D.No. 17180, Gowramma Katta Street Proddatur,^ysR Kadapa District - 516360.

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Smt. Vankadara Sowbhagyamma, W/o. Sri V Harinath Gupta, Age: 72 years D.No. 13-258, Vedurla Bazar Proddatur, YSR Kadapa District - 516360.

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Sri Vankadara Harinath Gupta S/o. Sri V Subba Rayudu, Age: 76 Years, D. No. 13-258, Vedurla Bazar Proddatur, YSR Kadapa District - 516360. ...Defendants.

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Counsel for the Applicant Defendants

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: Mr. G Prabhakar Sharma

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: Ex-parte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.g,67,47,339/- towards Term Loan A/c. No. 35875712990 from the defendants joinfly and severally with future interest @16.650/0 p.a. with monthly rests from the date of filing of application till the date of realization along with costs and in default for sale of OA schedule properties.

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Summons served on D7, 3, 4, 5, g & 9 and Summons sent to D2 returned with endorsement refused hence, deemed to be served and summons were served on D6 and D7 and all defendants were set ex-parte on 20.06.2025 as called absent no representation. /Y"*

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oA'No's66/2024

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examined^{Mr' PVS Srinivas' manager' as}

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The^{Applicant Bank}

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1. 53^{documents through him as Ex'A'l to}

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AW-1^{and marked} Ex.A.53'

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applicant^{bank' Perused the material}

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1. Heard^{Ld' Counsel for the} Placed^{on record'}

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5.^{The point that arises for considerationis:-}

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Priai" Whether^{the ApplicantBank is entitled} asainst for^{the ctain} 'i 'n::o the^{o"r"nau'i'i"-ur,o oA schedule} ProPerties?

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-r^{aw-n2rte .The}

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6.^{As stated supra' the Defendants remained ex-pal} EvidenceAffidavitcoupledwiththerecitalsinthedocuments viz',^{Exs'A'1 to A'53 marked on behalfof the Applicant Bank} crinches^{the craim} "f^th";;o'1":: :::1.1T'::t f^;:t:T:::: Hence'^{I hold that the Defendantsare} to the^{Applicant Bank with future interest and costs'}

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T.Intheresult,thepresentoriginalApplicationNo.566/2024|s allowed^{as under: -}

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The^{Defendants are jointly and severally}

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i) liable^{to pay to the Applicant Bank a sum of} Rs.9,61 ,47,3391'^{towards TermLoan A/c' No'} 35875712990;^{with future interest@13 '45o/o} p.a. simple^{from the date of application till} the date^{of realization;}

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ii) the OA claim^{is secured by way of mortgage} of schedule^{properties described inthe} frwro"'

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oA.NO.556/2024

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schedule annexed to the OA and the applicant bank is entiUed to proceed against the same to realise its debt;

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iii) the applicant bank is also entiUed to proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entitled for the costs.

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B. The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 19th Day of December, 2025).

¶49

ESHWAR KOTHE) PRESIDING OFFICER

State Bank of India v. M/S. Sree Satyanarayana Builders

Case brief

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State Bank of India v. M/S. Sree Satyanarayana Builders

Case brief

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