Allowed

State Bank of India v. Mr. Nagella Bal Reddy

DRT3 Feb 2026OA/593/2025

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the Application filed by the State Bank of India to recover a personal loan of Rs. 21,27,077.00 from the Defendant, who failed to comply with repayment terms. The bank was granted costs and a Recovery Certificate.

What did the court decide?

The Applicant is entitled to recover Rs. 21,27,077.00 with future interest and costs, and a Recovery Certificate issues.

State Bank of India versus Mr. Nagella Bal Reddy — Banking and Recovery | DRT (2026)

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IN THE DEBTS^{RECOVERYTRIBUNAL- I AT HYDERABAD} DATED^{THIS THE O3Td DAY OF FEBRUARY' 2025} PRESENT:^{SRI GUMMADI GOPIGHAND' PRESIDING OFFICER}

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OA. No.593^{OF 2025}

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Between: State Bank^{of lndia'} Vidyanagar^Branch, H.No.^{1 -8-7-214, VidYanagar,} Hyderabad,^Telangana -^{500 044} Applicant Represented^{bY its DY. Manager} VERSUS Mr. Nagella^BalReddY, S/o. N.^LaxmaReddY, Aged about³⁶ Years,^Male, Occu : Private^EmPloYee' R/o. H.No.^{1-9-322118,2ndFloor,} Seshu^{NilaYam,Hanuman Nagar'} Kushaiguda,^Medchal -^{Malkajgiri Dist'} Defendant Telangana -^{500 062} Counsel^{for the} Parties^: AjgalRaviBabu For The^APPlicant Exparte For the Defendant 27.01.2026 Reserved^on 03.02.2026 Pronounced^on d"*d=l: .02.2026 Upload in^websiter5'n * ! 0 3 FEs ?0?t

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(oA. No. 5s3l202sl

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ORDER

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The Applicant Bank filed the^{present oA against Defendant for} total sum of Rs.21 ,27,077 -00 Ps'^(Rupees recovery of^a Twenty One Lakhs Twenty^{Seven Thousand and seventy} with future^{interest at contractual rate of interest} Seven OnlY) with monthly^{rests from 12.11.2025 till the date} @11.80%^P.a of realization.

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As per the^{averments in the application, the Applicant Bank} states that^{Defendant availed Personal Loan under Xpress} Credit Elite^{Limit of Rs.25,OO,OOO/-repayable in 72 equated} monthly installments^{of Rs.48,616/- with interest @11'80% p'a} with monthly rests^{and executedPersonal Loan Agreement} dated 30.09.2023^{in favor of the Applicant Bank' After availing} the loan facility,^{the defendant failed to comply the termsof} sanction, hence^{the applicantbank classified the account as} NPA on^{28.06.2025 and issued Legal Noticedated} 27.10.2025^{to the defendant. lnspite of several requests and} demands, the^{defendant did not clear the outstanding.Hence this} oA.

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absent and set exparte on 27 .01.2026'
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(oA. No. s93/202s)

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Sri. D. Nagendar,^DePutY Manager of^{the APPlicant Bank} examined^{himself as AW l} and exhibited^{relevant documents,} which are^{marked as Ex.A 1} to A.9.

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Heard the^{Ld. Counsel for the Applicant Bank'}

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consideration^{is whether the Applicant} 6. The point that^{arise for} claim made^{in the OA againstthe} bank is entitled^{for the} Defendant^as PraYed^for?

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Defendant^{remained exparteTo substantiate the case of the} Applicant^{Bank,AW.1, official of the ApplicantBank was} examined^{and he exhibited relevant documentsas Ex'A'1 to A'9'} lnviewoftheabove,lholdthattheApplicantBankhas established^{their claim made in the oA againstthe Defendantand} hence the^{Applicant Bank is entitled to recover the claim made in} the OA^{with futureinterest and costs'}

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ln the result,^{the present OA is allowedwith costs'as under:}

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The Defendant^{is liable to pay to the ApplicantBanka total sum} of Rs.21,27,077'OO^{Ps. (Rupees TwentyOne LakhsTwenty} Seven^{Thousand and seventy Seven Only) with future} tractual rate^{of interest@11 80% p'a from} date of realization. I

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(oA. No. se3l202sl

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The Applicant^Bank is^entitled to proceed^againstthe Person towards realization^{of the debt} and properties of Defendant due.

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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 memowithin 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 pronouncedby me in the open court on} this the^{o3'd day of Feb, 2026)}

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sd/(G. GOPICHAND)

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PRESIDING^OFFICER

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State Bank of India v. Mr. Nagella Bal Reddy

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mr. Nagella Bal Reddy

Case brief

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What did the court decide?

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