In an Original Application filed by a bank, the Debts Recovery Tribunal examined documents and the bank's representative. Finding the bank established its claim, the Tribunal allowed the Application and ordered recovery of the debt plus interest.
Recover Rs. 24,63,630 with future interest; issue Recovery Certificate; costs.
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IN THE DEBTS RECOVERY TRIBUNAL - IAT HYDERABAD DATED THIS THE Ogth DAY OF FEBRUARY, 2026
PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER
OA. No. 602 OF 2025
Between :
State Bank of lndia, Parishrama Bhavan Branch, Basheerabagh, Hyderabad. Represented by its Chief Manager Applicant
VERSUS
Mr. Nagireddygari Prathap Reddy, S/o. Chinna Narasimha Reddy,, Aged 29 years, Occ. XIN-DC Consultant, Emp ld. 665967, O/o. Deloitte Support Services lndia Private Limited, 1Sth Floor, Deloitte Tower-1, Survey No. 41 Gachibowli Village, Rangareddy District - 500 032. Also at - R/o. H. No.4-6-13, Andalu Nilayam, Savarkar Nagar, Nacharam, Uppal, Hyderabad - 500 007. Also at - Andhra Pradesh - 516 Is tEB2n n Defendant
(oA. No. 602/202s)
Counsel for the parties :
For The Applicant K. Narayana Rao For the Defendant Exparte Reserved on 02.02.2026 Pronounced on 09.02.2026 Upload in website on 09.02.2026
ORDER
- As per the averments in the application, the Applicant Bank states that Defendant availed personal Loan under Xpress Credit Limit of Rs.25,00,000/- repayableinT2 equated monthly installments of Rs.47,971/- with interest and executed personal Loan Agreement dated 10.08,2023 in favor of the Applicant !gthe loan facility, the defendant faited to nction, hence the applicant bank classified the a asN 10.03.2025 and issued Legal Notice 0grFBm[ {: 2 w-aV1
(oA. No. 502/202s)
dated 19.03.2025 to the defendant. lnspite of several requests and demands, the defendant did not clear the outstanding. Hence this OA.
(oA. No. 602/202s)
The Defendant is liable topay to the ApplicantBanka total sum of Rs.24,63,630.00 Ps.(Rupees TwentyFour Lakhs Sixty Three Thousand Six Hundred and Thirty Only) withfuture interest @11.30%p.a from the date of filing of OA till thedate of realization.
(Dictated to the P.A., transcribed by her, corrected, signed andpronounced by mein the open court on this the ogh day of Feb, 2026)
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* :TRUQ (G. GOPTCHAND)
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4
1 issue framed by the court
Whether the Applicant Bank is entitled to recover the claimed amount from the Defendant?
1 provisions across 1 enactments
State Bank of India, Parishrama Bhavan Branch, Basheerabagh, Hyderabad
Mr. Nagireddygari Prathap Reddy
GUMMADI GOPICHAND
As recorded by the court registry
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