Allowed

Indian Bank v. M/S. Balaji Agri Chem

DRT24 Dec 2025OA/111/2025

Case brief

AI extract

What is this about?

In an original application for debt recovery, the Debt Recovery Tribunal-II at Hyderabad allowed the bank's claim against four defendants who failed to appear. The court held the defendants jointly and severally liable for principal, interest, and costs, and ordered the issuance of a recovery certificate.

What did the court decide?

Defendants directed to pay Rs. 4,17,26,835/- with future interest; recovery certificate issued; bank entitled to proceed against properties and persons.

Indian Bank versus M/S. Balaji Agri Chem — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 24TH DAY OF DECEN4BER, 2025

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

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 111 OF 2025

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India n Ba nk

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Srinagar Colony Branch, Hyderabad Rep. by its Branch Manager.

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.....Applicant.

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Versus

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M/s. Balaji Agri Chem Rep. by its Partners Head Office: Sri Poojitha Residency, H.No. 8/2/269179/S/8, Road no.2, Banjara Hills, Hyderabad^- 50003 4.

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N4rs. Muppavarapu Radhika, W/o. Sri. 1.4. 14adhu Mohan, AgedL 44 years, Plot no. 455, Kanthi Krishna,3d floor, Road no.9, Kakatiya Hills, Ravindra Society, Guttala Bequmpet, Hyderabad-500081

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Mr. G. Srinivasulu Naidu, S/o. Sri. G. Bala Krishna, Aged:62 years, 6-3-1113/207 , lM Apartments, Somajiguda, Hyderabad-500082

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Mrs. Imanni Sunitha, W/o Mr. G.V. Prasad, Aged: 53 years Flat No. 509, Krishe Meadows, Main Road, Srinaga r Colony, Hydera bad- 500073.

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... Defenda nts

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Counsel for the Applicant : M/s. CH. Laxmi Chaya Defendants : Ex-parteEx-parte

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: Ex-parteEx-parte ,7fw91,.t-v

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oA.NO.11u202s

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:: ORDER ::

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The Applicant Bank filed the^present OA for the recovery a total sum of Rs.4,L7,26,8351- i.e.,^(a sum of Rs.3,68,60,508/- under the OCC Limit with interest rate @160lo^p.d., d sum of Rs.18,56,654/- under the GECLS Limit with interest @9.25% p.d., o sum of Rs.13,11,473l- under the WCTL Limit with interest @9.600lo p.a. and a sum of Rs.16,98,200/- under the FITL Loan with interest @14.80o/o p.a.) from the Defendants jointly and severally with monthly rests from the date of Application till the date of realization along with costs and in default for sale of OA schedule^properties.

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Summons served on D3 through^{paper publication} and was set ex-parte on 07.07.2025 as called absent and no representation. WS of D1,2 & 4 was not filed hence, their right was forfeited on 04.09.2025 and evidence was also filed hence, their right was forfeited and was set ex-parte on 11.t2.2025 as called absent and no representation.

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The Applicant Bank examined Mahendra k, Chief Manager, as AW-l and marked 55 documents through him as Ex.A.l to Ex.A.55.

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Heard Ld. Counsel for 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 entitled for the claim made in the OA against the Defendant and OA schedule properties?

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oA.NO,111/2025

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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.l to A.55 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.111/2025 is allowed as under: -

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.4,17 ,26,8351- i.e., a sum of Rs.3,68,60,508/- under the OCC Limit, a sum of Rs.18,56,654/- under the GECLS, a sum of Rs.13,11,473l- under the WCTL and a sum of Rs.16,98,200/- under the FITL Loan; with future interest @7.80o/o 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 properties described in the^schedule annexed to the OA and the applicant^{bank is} entitled to proceed against the same^to realise its debu

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iii) the applicant bank is also^{entitled to proceed} against the^person and^propertiesof defendants for realization^{of its dues;}

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iv) the applicant bank is entitled^{for the costs.} /ru:^€ (v

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oA.NO.111/2025

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B. The Applicant Bank is directed to file Cost Memo within 2 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. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 24rh Day December,2025).

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PRESIDING OFFICER

Indian Bank v. M/S. Balaji Agri Chem

Case brief

What is this about?

What did the court decide?

Indian Bank v. M/S. Balaji Agri Chem

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

Parties & counsel

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