Allowed

State Bank of India v. Mr. Srinivas Reddy Daama

DRT10 Apr 2026OA/156/2026

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application filed by State Bank of India for recovery of Rs. 21,45,560/- totaling principal, interest, and costs from a defaulting personal loan borrower, Srinivas Reddy Daama, who appeared ex parte.

What did the court decide?

Recovery certificate issued; Defendant ordered to pay Rs. 21,45,560/- with interest at 11.25% p.a. from 04.02.2026 till realization; costs awarded to Applicant.

State Bank of India versus Mr. Srinivas Reddy Daama — Contract and Commercial Disputes | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL - I AT HYDERABAD DATED THIS THE loth DAY OF APRIL, 2026

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PRESENT: SRt cUMMAD! cOptCHAND, pRES|DtNG OFFTCER

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OA. No. 156 OF 2026

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Between :

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State Bank of lndia, PBB Amberpet Branch, Amberpet, Shivam Road Hyderabad, Telangana - S0O 013 Represented by its Chief Manager

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Applicant

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VERSUS

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Mr. Srinivas Reddy Daama, S/o. D. Venkat Reddy, Aged 38 years, Male, Occ. Private Employee, O/o. Wipro Gachibowli Campus, 203,11511,1SB Road, Financial District, Hyderabad - S00 032

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Also at -

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Rlo.21-129t2t1. F-2, Venkat Residency, Uttam Nagar, Near Safilguda Railway Station, Safilg uda, Matkajgiri,

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Medchal- Malkajgiri District - 500

(f * H^loPnryn Wr$'y

Defendant

(oA. No. 1s6l2025)

Counsel for the parties :

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For The Applicant AjgalRaviBabu For the Defendant Exparte Reserved on 07.04.2026 Pronounced on 10.04.2026 Upload in website on 10.04.2026

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ORDER

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TheApplicant Bank filed the present OAagainstDefendant for recovery of a total sum of Rs.21,45,560.00 Ps. (Rupees Twenty One Lakhs Fofi Five Thousand Five Hundred and Sixty Only) with contractual rate of interest @11.25o/o p.a with monthly rests from 04.02.2026 tillthe 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 Limit of Rs.25,00,000/- repayable in 72 equated monthly installments of Rs.47,9061 with interest @11.25% p.a with monthly rests and executed Personal Loan Agreement dated 03.05.2023 in favor of the Applicant Bank. After availing the loan failed to comply the terms of sanction, iffi"oii bank classified the account as NPA on ,01.08.205, and is-suAt Legal Notice dated 18.08.2025 to the J^{10 APF ,lr2n} :i: d -.,;., w,r,,

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(oA. No. Ls6l2o26l

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defendant. lnspite 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 07.04.2026.

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Sri. Chenikala Rajasekhar, Assistant Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.8.

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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 , officia! of the Applicant Bank was examined and he exhibited relevant documents as Ex.A.1 to A.8. ln 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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(oA. No. 1s6l2026)

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ln 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.21,45,560.00 Ps. (Rupees Twenty One Lakhs Fofi Five Thousand Five Hundred and Sixty Only) with contractual rate of interest @11.25Yo p.a from 04.02.2026 tiil the date of realization.

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The Applicant Bank is entitled to proceed against the person and properties of Defendant towards realization of the debt due.

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That Applicant Bank is entitled 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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lssue 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, corected, signed and pronounced by me in the open court on this the 10h day of Apr, 2026)

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sd/(G. GOPTCHAND) PRESIDING OFFICER

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State Bank of India v. Mr. Srinivas Reddy Daama

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mr. Srinivas Reddy Daama

Case brief

What is this about?

What did the court decide?

What the court decided

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