Allowed

State Bank of India v. Sri Thuralapati Sai Chandra Vardhan

DRT10 Jun 2025OA/89/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an origin application by SBI for recovery of Rs. 25.43 lakhs. The Defendant was absent. The Tribunal held that the bank established its claim and ordered payment of the principal, interest, and costs, permitting proceedings against the defendant's property.

What did the court decide?

Order allowed; Defendant liable to pay Rs. 25.43,694/- plus interest; recovery certificate issued; proceedings against defendant's property allowed.

State Bank of India versus Sri Thuralapati Sai Chandra Vardhan — Consumer Protection | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 1OTHDAY OF JUNE' 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER OA.No.89 of 2025

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Between:

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State Bank of India, Stressed Assets Recovery Branch-II H.No. 1-8-563/1, first floor, Opp Sandhya theatre, RTC "X" roads, Hyderabad, Telangana State. Represented by its Chief Manager

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Applicant

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VERSUS

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Sri Thurlapati Sai Chandra Vardhan, S/o T. Nageswara Rao, aged 29 years, Occ: service, R/o H.no.2-45, Kalpatharu road, Ayyagaripeta, Sathypally, Khammam - 507 303. Khammam district, Telangana Presently residing at H.No.B-3-523, Flat no.302, Swagath residency, Yallareddyguda, Hyderabad - 73.

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And working as Senior Associate Cognizant Technology Solutions India Private Limited, DLF Cyber city, Hyderabad, 129-L32, APHB colony, Indira nagar, Gachibowli, Serilingampalle (M), Hyderabad Telangana Sta

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.- .4. .,,'-i:.,.,. i Cou nse I Partie.'-9j For the I r*0 ;ru trr ,ry For the nt .i s-c ^{ Qrs;P

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Defendant Sri N. Meher Prasad Expa rte

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(oA.No.89/2025)

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ORDER

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1' The Appricant Bank fired the present oA against Defendant for recovery of a total sum of Rs.25,43,694/_ (Rupees Twenty Five Lakhs Forty Three Thousand Six Hundred and Ninety Four only) with interest @ 11.25olo p.a with monthly rests apart from penal interest @ 2% p.afrom 25.OZ.2O2S till the date of realization.

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2' As per the averments in the apprication, the Appricant Bank states that defendant avaired personar roan facirity under Xpress credit Line scheme of SBI for a sum of Rs.25.00 lakhs vide letter of arrangement dated 27.04.2023. The defendant agreed to repay the loan amount with interest @11.25% p.a and the loan amount was repayable in 72 EMIs of Rs.47,906/_ per month. After availing the loan facirity, the defendant faired to compry the terms of sanction, hence the applicant bank was constrained to classify the account as NPA and issued demand notice dated lB.tL.2O24. Inspite of several reguests and demands, the defendant did not clear the outstanding. Hence this OA.

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nd set exparte on 16.05.2025.

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(OA.No.89/202s)

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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.6.

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Heard the Ld. Counsel for the Applicant Bank.

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6' 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 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 4.6, 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:

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The Defendant is liable to pay to the Applicant Bank a total sum of Rs.25,43,6 pees fwenty Five Lakhs Forty Three nd Ninety Four only) with interest @

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,.:..', 77.P.so/c; p.a from 25.02.212 till the date oF realization.

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1 !1 il-

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. I I . -tJ ..

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.,',)," .r '

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\ r1i .'t

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(oA.No.89/202s)

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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 entitled to the costs of the OA.

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11' 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 1Oth day of June'2025)

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sdl(G. GOPTCHAND) PRESIDING OFFICER

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TRUE GOPY esst. ns!istrai 1( v DR1..], T'YOERA8A9,

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State Bank of India v. Sri Thuralapati Sai Chandra Vardhan

Case brief

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State Bank of India v. Sri Thuralapati Sai Chandra Vardhan

Case brief

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