In OA No. 550 of 2025, the Debt Recovery Tribunal I Hyderabad allowed the application filed by State Bank of India against Devarakonda Venkatesh for recovery of Rs. 23,02,424 along with future interest and costs.
Respondent liable to pay Rs. 23,02,424 with future interest @11.55% p.a. from 01.11.2025 and costs.
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IN THE DEBTS RECOVERY TRIBUNAL - I AT HYDERABAD DATED THIS THE 13th DAY OF JANUARY,2O26 PRESENT: SRI cUMMADI GOPICHAND, PRESIDING OFFICER
OA. No.550 OF 2025
Between :
State Bank of lndia, Saidabad Branch, H.No. 1 7-2-586, Madannapet, Saidabad Main Road, Hyderabad, Telangana - 59. Represented by its Asst. Manager
Applicant
VERSUS
Mr. Devarakonda Venkatesh, S/o. Devarakonda Mukteswara Rao, Aged 33 years, Male,
Occ: Tech (Fitter) - ll,
Mechanical Department Railways, R/o. H.No.590E, Upyard colony, Chittinagar, Near Parmel Charchi, Opp. Wagon Depot, Vijayawada, NTR District,
Andhra Pradesh - 520 001,
Also at -
O/o. The Chief Workshop Manager (
Wagon Workshop, SCR, .itrfi'i'
aqst!
Upyard Colony, 'Fr'? "qti,r?'i<br>Vijayawada, NTR District, qp
?r '.<br>Andhra Pradesh - 520 001, " " .' "'-"''i' Defendant
13 JAN tnTF
(oA. No. ss0/202s)
Counsel for the parties :
| ForTheApplicant | AjgalRaviBabu |
|---|---|
| FortheDefendants | Exparte |
| Reservedon | 09.01.2026 |
| Pronouncedon | 13.01.2026 |
| Uploadinwebsiteon | 13.01.2026 |
ORDER
- The Applicant Bank filed the present OA against Defendant for recovery of a total sum of Rs.23,02,424.00 ps. (Rupees Twenty Three Lakhs Two Thousand Four Hundred and Twenty Four Only) with future interest @11.55% p.a with monthly rests from 01.11.2025 till the date of realization.
- As per the averments in the application, the Applicant Bank states that Defendant availed personal Loan under Xpress Credit Elite Scheme of Rs.25.00 Lakhs repayable in 72 equated monthly installments of Rs.4g,2931 p.m with interest @11.55o/o p.a with monthly rests and executed Personal Loan Agreement dated 29.09.2023 in favor of the Applidant", Bank. After availing the loan facility, the defendant failed to comply the terms of sanction, hence the applicant bank '-1"c$assifud the account as NpA on 27.06.2025 and issued
2
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(oA. No. ss0/202s)
Legal notice dated 09.10.2025 to the defendant. lnspite of several requests and demands, the defendant did not clear the outstanding. Hence this OA.
Sri. Aravind Abdeshi, Assistant Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.g.
b. The point that arise for consideration is whether the Applicant bank is entitled for the claim made in the OA against the Defendant as prayed for?
Defendant cailed absent and set 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.9. ln view of the above, I hold that the Applicant Bank has eslablished their craim mdde in the oA against the Defendant and h6?rie the Applicant Bank is entifled to recover the claim made in the OA with future interest and costs.
*
(OA. No. s50/202s)
The Defendant is riabre to pay to the Appricant Bank a totar sum of Rs.23,02,424.00 ps. (Rupees Twenty Three Lakhs Two Thousand Four Hundred and Twenty Four Only) with future interest @11.ss% p.a from 01.11.202s tifl the date of realization.
her' con€cled' sisned and pronounced riv me in rhe open court on
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1 3 JAN ?n7n .l
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(c. ----sq/'cOptCHAND) PRESIDING OFFICER
1 issue framed by the court
whether the Applicant Bank is entitled to the claim made in the Origination Application against the Defendant?
State Bank of India, Saidabad Branch
Mr. Devarakonda Venkatesh
Cummadi GOPICHAND
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
