Allowed

State Bank of India v. Mr. Pottipati Sivareddy

DRT1 Jun 2026OA/190/2026

Case brief

AI extract

What is this about?

In OA No. 190 of 2026, the Debts Recovery Tribunal-I at Hyderabad allowed the applicant bank's claim for recovery of a defaulted personal loan amount, as the defendant did not appear and the bank produced sufficient documentary evidence. The order directed the defendant to pay the principal, future interest, and costs of the application.

What did the court decide?

Defendant liable to pay Rs. 23,34,022.00 with future interest at 10.90% p.a.; recovery certificate issued to bank.

State Bank of India versus Mr. Pottipati Sivareddy — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS^{RECOVERY TRIBUNAL} -^{I AT HYDERABAD} DATED THIS THE^{OIst DAY OF JUNE,2026}

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PRESENT: SRI GUMMADI^{GOPICHAND, PRESIDING OFFICER}

¶3

OA. No. 190 OF²⁰²⁶

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Between: State Bank of^lndia, Vidyanagar Branch, H.No.^'t-8-7-214, Vidyanagar, Hyderabad,^Telangana -^{500 044'} Applicant Represented^{bY its DY. Manager} VERSUS Mr. PottiPati^SivareddY, S/o. JagadishwareddY, Aged about²⁹ Years,^Gender -^Male' Occ. Software^Engineer, Cognizant^TechnologY' R/o. H.No.^{12-284, BhavaniNagar,} Chennur,^{YSR KadaPaDistrict'} Defendant Andhra Pradesh -^{516 162} Counsel for^the Parties^: AjgalRaviBabu For The^APPlicant Exparte For the Defendant 22.05.2026 0'1.06.2026 02.06.2026

¶5

(OA. No. 190/2026)

¶6

ORDER

¶7

The Applicant Bank^{filed the presentOA against Defendant for} recovery of a total^{sum ofRs.23,34,022'00Ps' (Rupees} Twenty Three^{Lakhs Thirty Four Thousand and Twenty} Two Only)^{with future rate of interest} @10.90o/o^{p'a with monthly} rests from^{28.01.2026 till the dateof realization'}

¶8

As per the^{avermentsin the application, the Applicant Bank} states that^{Defendantavailed Personalloan under Xpress} Credit Elite Scheme^{of Rs.25,00,000/-repayable in 72 equated} monthly installments^of Rs 47,458/-^{p'm withinterest} @10.90Yo^{p.a and executed Personal LoanAgreement} dated 15.12.2023^{in favor of the Applicant Bank.After availing} the loan^{facility,the defendantfailed to comply the terms of} sanction, hence^{the applicantbank classified the accountas} NPAon^{13.08.2025and issuedLegal Noticedaled18'12'2025} to the^{defendant. lnspite of several requests and demands' the} defendant^{did not clear the outstanding'Hence this OA'}

¶9

nt called^{absent and set exparte on 22'05'2026'}

¶10

(oA. No. L9ol2026l

¶11

Sri. Paras Belwal, Assistant^{Manager of the ApplicantBank} examined himself as AW.1^{and exhibited relevant documents,} which are marked as Ex.A.1 to^A.8.

¶12

Heard the Ld. Counsel^{for the ApplicantBank.}

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The point that arise^{for consideration is whether the Applicant} bank is entitled for^{the claim made in the OA againstthe} Defendant as^{praYed for?}

¶14

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'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 Defendantand} hence the Applicant^{Bank is entittedto recover the claim made in} the OA with^{futureinterest and costs.}

¶15

ln the result,^{the presentOA is allowed with costs, as under:}

¶16

The Defendant is^{liable to pay to the ApplicantBanka total sum} of Rs.23 ,34,022.00^{Ps. (Rupees Twenty Three LakhsThirty} Four Thousand^{and TwentyTwo Only) with future rate of} .gO%^p.a from^{28.01.2026 tillthe date of}

¶17

(OA. No. 190/2026)

¶18

The Applicant Bank is entitled to^{proceed against the person} and properties of Defendant^{towardsrealizationof 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 costmemowithin two weeks from the} date of receiPt of^order.

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lssue Recovery^{Certificate accordingly.}

¶22

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} thisthe Ols' day^{of Jun, 2026)}

¶24

sd/(G. GOPICHAND) PRESIDING OFFICER

¶25

TRUE CONY Qt,yTdro' Asst *d$tar CRT.I, HYDERABAfr

¶26

State Bank of India v. Mr. Pottipati Sivareddy

Case brief

What is this about?

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State Bank of India v. Mr. Pottipati Sivareddy

Case brief

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What did the court decide?

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