Allowed

State Bank of India v. Sreerama Lakhsmi

DRT17 Aug 2026OA/271/2026

Case brief

AI extract

What is this about?

In an original application filed by State Bank of India for recovery of dues from the estate of a deceased borrower, Mr. P. Srinivas, the respondent failed to appear. Upon examining the bank manager and verifying documents, the tribunal held the bank's claim established and allowed the recovery of the outstanding principal, interest, and costs against the respondent's estate.

What did the court decide?

Respondent liable to pay the applicant a total sum of Rs. 29,58,299.00 with future interest at 13.05% p.a. and costs.

State Bank of India versus Sreerama Lakhsmi — Contract and Commercial Disputes | DRT (2026)

¶1

IN THE DEBTS^{RECOVERY TRIBUNAL} -^{I AT HYDERABAD} DATED THIS^{THE 17th DAY OF AUGUST' 2026}

¶2

PRESENT: SRI GUMMADI^{GOPICHAND, PRESIDING OFFICER}

¶3

OA. No. 271OF²⁰²⁶

¶4

Between^:

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State Bank of^lndia, Hyderabad Main^Branch Bank Street, Koti Hyderabad Applicant Represented^{by its Assistant Manager}

¶6

VERSUS

¶7

Mrs.P.Sreerama^Lakshmi Wo. Late Mr. P.Srinivas Aged major,^{female, Occ: House wife} R/o. House No.8-3-228^{I 442,} Rahmathnagar,^{NeraMaisamma Temple} Defendant Hyderabad 500045

¶8

Counsel for the Parties^:

¶9

Mr. A.M. Kiran^Kumar For The APPlicant For the Defendant Exparte 14.08.2026 Reserved on 17.08.2026 Pronounced^on 17.08.2026 Upload in

¶10

(oA. No. 27112026)

¶11

ORDER

¶12

The Applicant Bank filed the^{present OA against Defendant for} recovery of a total sum of^{Rs.29,58,299.00Ps. ( Rupees} Twenty Nine Lakhs Fifty Four Thousand^{Two Hundred and} Ninety Nine Only) with future rate of interest @13.05%^p.a with monthly rests^{plus penal} interest from^{the date of this} application till the date of realization.

¶13

As per the averments in the application, the Applicant^Bank states that Mr. P.Srinivas availed Personal^{loan under Xpress} Credit Elite Scheme of Rs.35,00,000/- repayable^in72equated monthly installmentsof Rs.66,709/-^p.m with^interest @11.05o p.a with monthly rests and executed Personal Loan Agreement dated 07.11.2023 in favorof the Applicant^{Bank. Afteravailing} the loan facility, Mr. P.srinivas failed to^{complythe terms of} sanction, hence the applicant bank^{classifiedthe account as} NPA. Mr. P.srinivas died on 17.08.2025^{and Defendant is the legal} heir of Late Mr. P.Srinivas. The Applicant^Bank issued^{Notice to the} defendant. lnspite of several requests^{and demands, the} defendant did not clear the^{outstanding. Hence this OA.}

¶14

¶15

and set exparte on 14.08.2026.

¶16

17 Aulwfr

¶17

loA.^{No.27L/2o26l.}

¶18

Sri. K. Jagadish, Manager of the Applicant^{Bank examined himself} as AW.1 and exhibited relevant documents,^{which are marked as} Ex.A.1 to A.9.

¶19

Heard the Ld. Counsel for the Applicant Bank.

¶20

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?

¶21

Defendants remained exparte. To^{substantiate the caseof the} Applicant Bank, AW.1 , official of the^{Applicant Bank was} examined and he exhibited^{relevantdocuments as Ex.A.1to} A.9. 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 entitledto recoverthe claim} made in the OA with^{futureinterestand costs.}

¶22

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

¶23

The Defendant is liable to^{pay to the Applicant Bank a totalsum} of Rs.29,58,299.00 Ps.^{( Rupees TwentyNine Lakhs Fifty} Four Thousand Two^{Hundred and Ninety Nine Only) with} future rate of interest @13.05o/o^{p.a from the date of this} :the date of realization.

¶24

(oA. No.27Ll2026l

¶25

¶26

The Applicant Bank is entitled to^{proceed against the personand} properties of Defendant towards realization of the debt due.^The Applicant Bank is entiltled to^{proceed only to the extentof estate} devolved upon the Defendant No.^{1 from the deceasedHusband} Late Mr. P.Srinivas.

¶27

That Applicant Bank is entitled to^{the costs of the OA.}

¶28

The Applicant shall file a cost^{memo withintwo weeks from the} date of receipt of order.

¶29

lssue Recovery Certificate^accordingly.

¶30

Communicate a copy of the^{order to the parties concerned.} (Dictated to the P.A., transcribed by^{her, corrected, signedand pronounced by mein the open court on} this the 17th day of^Aug ,²⁰²⁶⁾

¶31

sd/(G. GOPICHAND) PRESIDTNG OFFICER

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State Bank of India v. Sreerama Lakhsmi

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sreerama Lakhsmi

Case brief

What is this about?

What did the court decide?

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