Allowed

State Bank of India v. Luvnuts

DRT13 Jan 2026OA/494/2025

Case brief

AI extract

What is this about?

In OA No. 494 of 2025, the Debt Recovery Tribunal allowed the applicant bank's original application for the recovery of Rs. 45,11,956.00 along with future interest and costs against the defendants who were absent. The court held that the bank established its claim through examination and exhibited documents.

What did the court decide?

The respondents are directed to pay Rs. 45,11,956.00 with future interest at 11.40% p.a.; Recovery Certificate issued; permission to proceed against hypothecated movables granted.

State Bank of India versus Luvnuts — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL - I AT HYDERABAD DATED THIS THE 12th DAY OF JANUARY, 2026

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PRESENT: SRI cUMMADI GOPICHAND, PRESID|NG OFFTCER

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OA. No. 494 OF 2025

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Between :

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State Bank Of lndia, SMECC Centre, Gunfoubdary, Chappel Road, Abids, Hyderabad.

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Represented by its Chief Manager

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Applicant

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VERSUS

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Luvnuts,

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Plot No. 53, Laksminarayana Nagar, Uppal lDA, Circle 2, Medchal Malkajgiri District - 500 039,

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Rep. by its Proprietor,

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Geetha Gurrapu.

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Also at -

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R/o. H.No . 7 -1-88150, Kakatiya Colony, Behind Little Flower High school,

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L.B. Nagar,

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Chintalakunta,

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Ranga Reddy Distrcit - 500 074.',^"

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' i u' l 1 ? ,lAN za?F ,.:, ','-^-il | , '.. . ;,.

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(oA. No. 494/202s)

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2. Geetha Gurrapu,
Wo.PulukkuPraveen,
R/o. H.No. 7-1-88150,KakatiyaColony,
Behind LittleFlowerHigh school, L.B. Nagar,
Chintalakunta,
RangaReddyDistrcit-500074.		Defendants
Counsel fortheparties:
ForTheApplicant	Veera ShivaKumar
FortheDefendant	Exparte
Reservedon	09.01.2026
Pronouncedon	12.01.2026
Uploadinwebsiteon	12.01.2026

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ORDER

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The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.45,11,956.00 Ps. (Rupees Forty Five Lakhs Eleven Thousand Nine Hundred and Fifty Six Only) i.e a sum of Rs.14,66,065/-⁺ Rs.30,45,891/- with future interest at contractual rate @ 11.40Yo^p.a at monthly rests of this application till the date of realization and in

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default^;for Hypothecated Movables as mentioned in the

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"' schedde of P A to OA. 1Z ,tAfl?Uf

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(OA. No. 494l202s)

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As per the averments in the application, the Applicant Bank states that Defendant No. 1 is a Proprietorship Firm represented by its Proprietor Defendant No. 2 availed cash credit facility of Rs.'14.00 Lakhs with interest @12.40% p.a with monthly rests and Term Loan facility of Rs.33.50 Lakhs with interest @12.40o/o p.a with monthly rests and executed Agreement of Loan cum Hypothecation dated 01.08.2023 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 03.09.2025 and issued Legal notice dated 08.09.2025 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 09.0't .2026.

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Sri. B. Harindranath, Chief Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to 4.16.

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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 claim made in the OA against the

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(oA. No. 494/202s)

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Defendants remained exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Appticant Bank was examined and he exhibited relevant documents as Ex.A.1 to 4.16. 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 are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.4S,11,956.00 ps. (Rupees Forty Five Lakhs Eleven Thousand Nine Hundred and Fifty Six Only) i.e a sum of Rs.14,66,0651 + Rs.30,45,891/- with future interest at contractual rate @ 11.40o/o p.a from the date of this application till the date of realization.

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

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and of defendants No. 2 and properties of Defendant of the debt due.

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1Z .t!\11w

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(oA. No. 4e4/20251

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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 12th day of Jan,2O26)

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sd/-

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(G. GOPTCHAND) PRESIDING OFFICER

State Bank of India v. Luvnuts

Case brief

What is this about?

What did the court decide?

State Bank of India v. Luvnuts

Case brief

What is this about?

What did the court decide?

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