Allowed

State Bank of India v. Philips Abbas Hair Selling Center

DRT8 Sept 2026OA/447/2026

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the Original Application filed by State Bank of India for recovery of Rs.53 Lakhs plus interest and costs from defendants who defaulted on a loan and failed to appear in court.

What did the court decide?

Defendants ordered to pay Rs.53,32,249 plus 12.15% interest; Recovery Certificate issued; Bank authorized to proceed with mortgaged properties and collect costs.

State Bank of India versus Philips Abbas Hair Selling Center — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL - IAT HYDERABAD DATED THIS THE OSth DAY OF SEPTEMBER, 2026

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA. No. 447 OF 2026

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Between :

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State Bank Of lndia, Stressed Assets Recovery Branch Koti, 2nd Floor

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T.G.R.T.C Commuter Amenity Centre, Bus Terminal Complex, Koti, Hyderabad - 500095,

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EMAIL:SB1.051 [email protected]. lN

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Represented by its Chief Manager

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Applicant

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VERSUS

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Philips Abbas Hair Selling Center Rep. By its sole proprietor Mothe Pochaiah, S/o. Mothe Pedda Ramulu,

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H. NO. 13-721C11, Jangala Colony Yadagiripally, Yadagirigutta,

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Telangana - 5081 15

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MOB: 9618935280

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Mothe Pochaiah,

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s/o. Mothe Pedda Ramulu,

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aged about 45 years, occ: Business,

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N. No. 13-72lC/1 , Jangala Colony, Yadagiripally, Yadag irigutta, Telangana - 508115 MOB: 96'18935280

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0 I sgp :pq

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lOA.^{No. 447} /20261

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Counsel for the parties^:

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For The Applicant G. Venkat Sri Maithreya For the Defendant Exparte Reserved on 02 09 2026 Pronounced on 08.09.2026 Upload in website on 08.09.2026

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ORDER

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The Applicant Bank filed the present OA against Defendant for recovery of a total sum of Rs.53,32,249.00. Ps. ( Rupees Fifty Three Lakhs Thirty Two Thousand Two Hundred and Fofi Nine Only) with rate of interest @12.15o/o p.a with monthly rests from 15.07.2026 till the date of realization and in default for sale of Hypothecated Movables and Mortgaged Property as mentioned in the Schedule of Property to OA.

¶25

As per the averments in the application, the Applicant Bank no. 1 is a Proprietorship Firm represented

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dant no. 2 availed cash credit loan facility interest and executed Agreement of

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lOA.^{No. a47} /2026)

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Loan Cum Hypothecation dated 20.03.2023 in favor of the Applicant Bank. The Defendants created Equitable Mortgage morefully mentioned in Schedule of property to OA and executed Memorandum of Deposit of Title Deeds dated 20.03.2023 and deposited Sale Title Deed 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 account as NPA on 01.06.2025 and issued Demand Notice dated 03.06.2026 to the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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Defendants called absent and set exparte on 02.09.2026.

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Sri. S. Prathik Yadav, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.12.

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Heard the Ld. Counsel for the Applicant Bank.

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consideratio n is whether the Applicant claim made in the OA against the

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lO^{A.No. 447} /2026)

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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.'12. 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.

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

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The Defendants no. 1 and 2 is liable to pay to the Applicant Bank a total sum of Rs.53,32,249.00. Ps. ( Rupees Fifty Three Lakhs Thirty Two Thousand Two Hundred and Forty Nine Only) with rate of interest @12.15o/o p.a from 15.07.2026 till the date of realization.

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The Applicant Bank is entitled to proceed against the Mortgaged Property and Hypothecated Movables as mentioned in the schedule of Property to the OA towards realization of the debt due

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and 1

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j oosrpzozr $-' d

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(OA. No. 447 /2026]|

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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, corrected, signed and pronounced by me in the open court on this the 08'h day of Sep , 2026)

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sd/(G. GOPTCHAND) PRESIDING OFF!CER

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.6ensr=on L\t9 ^ii-r,^Hyagaagal

State Bank of India v. Philips Abbas Hair Selling Center

Case brief

What is this about?

What did the court decide?

State Bank of India v. Philips Abbas Hair Selling Center

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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Case details

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