Allowed

M/S. State Bank of India v. M/s Sri Subrahmanya Jewellers (Borrower)

DRT26 Feb 2026OA/602/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal-II Hyderabad, allowing an original application filed by State Bank of India against borrowers and guarantors for recovery of dues and mortgage properties ex parte.

What did the court decide?

Defendants ordered to pay Rs. 86,89,080 with future interest @11.70% p.a. simple; Applicant allowed to proceed against mortgaged property and other properties; Recovery Certificate issued.

M/S. State Bank of India versus M/s Sri Subrahmanya Jewellers… — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 26TH DAY OF FEBRUARY,2026

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PRESENT: SH. RAMESHWAR KOTHE, B.Com. L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 602 OF 2025

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M/s. State Bank of India, SARB, D. No. 54-20-18/3F/U6, 3rd Floor, Upstairs Of KFC, Surya Prakash Square, Gurunanak Nagar Road, NTR District, Vijayawada, And hra Pradesh-520008, Represented by its Chief Manager Sri. Hanuman Sastry, S/o. Late Suryanarayana aged 55 Years, R/o. Vijayawada

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.....Applicant.

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Versus

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M/s Sri Subrahmanya Jewellers (Borrower) Rep. by its proprietor H V Kiran Kumar, S/o. Late B.K. Venkatesh, O/o. 7-3-l52lA, Hindupur, Sri Satyasai District, Andhra Pradesh-515201

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Mr. H V Kiran Kumar, (proprietor &^guarantor) S/o. Late B.K. Venkatesh, Age: MajorYrs., Occ.:^Business,

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Mrs. H. K. Nishchitha,^(Mortgager &^guarantor) W/o. H V Kiran Kumar, Age: Major Yrs., Occ.: Business,

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Both 2 & 3 are R/o. Door No.:9-l-ll3lA Near Children's^Park, Panduranga Nagar, Hindupur, Sri Satyasai District, Andhra^Pradesh- 5 15201 .

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... Defendants

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I Mr. M. Venkat Divakar Counsel for the Applicant Counsel for the Defendants :^Ex-parte ft,,,r.. ,-*.(,_{r-,

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oA.NO.602/2025

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs. 86,89,080/- with future interest @t2.70o/o p.a. from 10.06.2025 till the date of realization along with costs and, in default, sale of OA mortgage property.

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Summon served on defendants through paper publication and were set expa rte on 15.12.2025 as called absent and no representation.

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The Applicant Bank examined Mr. P.V.S. Srinivas, Manager, as AW-1 and marked 10 documents through him as Ex.A.1 to Ex.A.10.

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Heard ex-parte arguments from the Ld. Counsel of the Applicant Bank. Perused the material placed on record.

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The point that arises for consideration is: -

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Whether the Applicant Bank is entiiled for the claim made in the OA against the Defendant and OA mortgage property?

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.10 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are liable to pay the OA claim to the Applicant Bank with future interest and costsl&/tL

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oA.NO.602/2025

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In the result, the present Original Application No.602/2025 is allowed as under: -

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i) The Defendants are liable to pay to the Applicant Bank a sum Rs. 86,89,080/- with future interest @11.70olo p.a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of mortgage of property as described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

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iii) the applicant bank is also entitled to^proceed against the person and^properties of defendant for realization of its dues;

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iv) the applicant bank is entitled for the costs.

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B. The Applicant Bank is directed to file Cost^{Memo within2 weeks} from the date of receipt of this Order.

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Issue Recovery Certificate accordingly.

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Communicate a copy of this order^{to the parties concerned.}

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(Dictated to the steno, corrected, signed and^pronounced by^{mein the open court on} this the 26th Day of February,^2025).

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Ao*'

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(RAVESHWAR KOTHE) PRESIDING OFFICER

M/S. State Bank of India v. M/s Sri Subrahmanya Jewellers (Borrower)

Case brief

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M/S. State Bank of India v. M/s Sri Subrahmanya Jewellers (Borrower)

Case brief

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