The plaintiff Bank filed this suit against the
defendant seeking the relief of recovery of loan amount
of Rs.7,53,632/- along with interest @ 14% p.a, till the
date of realization, with costs.
2. The brief facts averred in the plaint are as
follows:
The plaintiff is a Corporate Body constituted under
State Bank of India Act, 1955 and having its Corporate
Office at Madam Cama Road, Mumbai and its local Head
Office at St.Marks Road, Bengaluru-560001 and having
one of the Branch/office called the State Bank of India,
having one of the branches at Cauvery School
Sahakarnagar Branch, Bengaluru, represented by its
Branch Manager, who is authorized to file the suit in
terms of Regulations 76 and 77 of the State Bank of India
General Regulations, 1955. The plaintiff contends that,
the defendant as borrower had approached for a personal
loan under the scheme of Xpress Credit Facility, then he
applied the loan on 04.11.2021 and the Bank had
sanctioned a personal loan of Rs.6,50,000/- on
06.11.2021. Further, the defendant also availed the Top
loan under the same scheme of Xpress Credit, at the
request of the defendant, the plaintiff Bank has
sanctioned further loan of RS.1,75,000/- on 26.07.2022.