Allowed

State Bank of India v. Mr. Bandaru Srinivasa Rao

DRT17 Jul 2025OA/87/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal-I, Hyderabad, decided an Original Application filed by State Bank of India for recovery of a defaulted personal loan against Mr. Ba ndaruSrin ivasa Rao. The Tribunal allowed the application and directed recovery of the principal, interest, and costs.

What did the court decide?

The Defendant is liable to pay Rs.25,83,896/- with interest at 11.55% p.a. from 31.01.2025 till realization. Applicant is entitled to costs and recovery proceedings.

State Bank of India versus Mr. Bandaru Srinivasa Rao — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THrS THE 17rH DAY OF JULY, 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.87 OF 2025

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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 X roads, Chikkadpally, Hyderabad - 20. Represented by its Chief Manager

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Applicant

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VERSUS

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Mr. Ba ndaruSrin ivasa Rao, s/o Bandaruvenkata Rao, flat no.302/ Tara Towers, Saleemnagar, Malakpet, Near Santhosh Stationary, Hyderabad - 500 036.

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Defendant

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Counsel for the Pa rties: For the Applicant For the Defendant

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Sri Alluri Krishnam Raju Exparte

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ORDER

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The Applicant Bank filed the present OA against Defendant for of a total sum of Rs.25,83r896/- (Rupees Twenty Five Three Thousand Eight Hundred and Ninety Six erest @ 11.55% p.a with monthly rests plus 2olo penal 31.01.2025 till the date of realization.

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(OA.No.8712025)

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As per the averments in the application, the Applicant Bank states that defendant availed Personal loan (Xpress Credit Elite) for a sum of Rs.25.00 lakhs vide arrangement letter dated 2t.09.2023. The said loan was agreed to be repaid in 72 monthly installments of Rs.46,293/- from 10.10.2023. After availing the loan facility, the defendant failed to comply the terms of sanction, hence the applicant bank classified the account as NPA on 29.08.2024 and legal notice was issued on 01.02.2025. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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Defendant called absent and set exparte on 02.07.2025.

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4, Sri M. Ravinder, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.5.

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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

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ainedexparte. To substantiate the case of the AW.1, official of the Applicant Bank was examined 2

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(oA.No.871202s)

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and she exhibited relevant documents as Ex.A1 to A.5. 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 ailowed with costs, as under: The Defendant is liable to pay to the Applicant Bank a total sum of Rs.25,83 ,8961' (Rupees Twenty Five Lakhs Eighty Three Thousand Eight Hundred and Ninety six only) with interest @ 11.55% p.a from 31.0t.202s 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 entiiled 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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(G. GOPTCHAND) PRESIDING OFFICER

State Bank of India v. Mr. Bandaru Srinivasa Rao

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mr. Bandaru Srinivasa Rao

Case brief

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What did the court decide?

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