Allowed

Dhanalakshmi Bank v. Mr. Gajjala Saptagiri

DRT14 Jul 2026OA/261/2026

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's application for recovery of a housing loan sum of Rs. 20.74 lakhs with interest and costs against defaulters, permitting proceedings against mortgaged and personal properties.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 20,74,751.00 plus future interest; proceedings commenced against mortgaged and personal properties; recovery certificate issued.

Dhanalakshmi Bank versus Mr. Gajjala Saptagiri — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL - IAT HYDERABAD DATED THIS THE 14th DAY OF JULY, 2026

¶2

PRESENT: SRI cUMMADI cOptCHAND, pREStDtNG OFFTCER

¶3

OA. No. 261OF 2026

¶4

Between :

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Dhanlaxmi Bank Llmited, 1 1 -1 -62312, 3, Singidi Comptex, Opp lndur Traders, Kanteshwar, Armoor Road, Nizamabad - 503002 Represented by its Authorized Signatory

¶6

Applicant

¶7

VERSUS

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Mr. Gajjala Saptagiri S/o Gajjala Ramdas H. No. 1 1-1-KA00593302i6 Flat no. 507, ACR Towers,4th floor, Maruthi Nagar, Kanteshwar Nizamabad-503002

¶9

Also at

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H. No. 11-1-130,
Vidyuth Nagar,
Kanteshwar,
,r*&<br>Near Vartha Office,
Nizamabad-503002 ,*
311JUL2o2D I
Ii
'.-,.4- . _$,
&**#

¶11

(OA. No. 26112026)

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Mrs. Gajjala Geetha w/o Mr. Gajjala Saptagiri H. No. 1 1-1-KA0059330216 Flat no. 507, ACR Towers,4th floor, Maruthi Nagar, Kanteshwar Nizamabad - 503002

¶13

Also at

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H. No. 11-1-130, Vidyuth Nagar, Kanteshwar, Near Vartha Office, Nizamabad - 503002

¶15

Defendants

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Counsel for the^parties:

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For The Applicant G. Bhanu Murthy For the Defendants Exparte Reserved on 13.07.2026 Pronounced on 14 07 2026 Upload in website on 14.07.2026 lffi .,,F g9 I^1rJULilro; W,ttt*P

¶18

(oA. No. 26112026)

¶19

ORDER

¶20

The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.20,74,751.00 Ps. (Rupees Twenty Lakhs Seventy Four Thousand Seven Hundred and Fifty One Only) with future rate of interest @8.1O% p.a with monthly rests from the date of filing of this application till the date of realization and in default for sale of Mortgaged Property as mentioned in the Schedule of Property to OA.

¶21

As per the averments in the application, the Applicant Bank states that Defendants availed Housing loan of Rs.22,50,000/with interest and executed Agreement for Home loan dated 20.10.2020 in favor of the Applicant Bank. The defendants created equitable mortgage morefully mentioned in schedule of property to OA and executed Memorandum of Mortgaged dated 05.01.2021 and deposited original Sale deed dated 24.04.2019 in favor of the applicant Bank. After availing the loan facility, the defendants failed to comply the terms^of sanction, hence the applicant bank classified the^accountas NPA on 03.09.2025 and issue Demand Notice dated 09.09.2025 under Section 13(2) of the SARFAESI Act, 2002 to^the defendants lnspite of several requests and demands,^the defendants did not clear the outstanding. Hence^{this OA.}

¶22

¶23

nt and set exparte on 13.07.2026.

¶24

(OA. No. 26U2025)

¶25

Sri. Kiran Kumar G, Branch^{Managerof the ApplicantBank} examined himself as AW.1 and exhibited^{relevantdocuments,} which are marked as Ex.A.1 to A.10.

¶26

Heard the Ld. Counsel for the Applicant Bank.

¶27

The point that arise for consideration is whether the^Applicant bank is entitled for the claim made in the OA against^the Defendants as^prayed for?

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Defendants 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.10. ln view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants and hence the Applicant Bank is entitled to recover the claim made in the OA with future interest and costs.

¶29

ln the result, the present OA is allowed with costs, as under :

¶30

The Defendants no. 1 and 2 are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.20,74,751.00 Ps. (Rupees T Seventy Four Thousand Seven Only) with future rate of interest @8 of filing of this application till the

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'"{g'"'l'?t',flIl.^,ner

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lOA.^{No.261./20261}

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The Applicant Bank is entitled to proceed against the Mortgaged Property as mentioned in the Schedule of Property to the OA towards realization of the debt due.

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The Applicant Bank is entitled to proceed against the person and properties of Defendants no. 1 and 2 towards realization of the debt due.

¶35

That Applicant Bank is entitled to the costs of the OA.

¶36

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.

¶38

Communicate a copy of the order to the parties concerned.

¶39

(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 14rh day of Jul, 2026)

¶40

sd/(G. GOPTCHAND) PRESIDING OFFICER

¶41

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Dhanalakshmi Bank v. Mr. Gajjala Saptagiri

Case brief

What is this about?

What did the court decide?

Dhanalakshmi Bank v. Mr. Gajjala Saptagiri

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

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