Allowed

Canara Bank v. Nageli Suneel Kumar

DRT4 Sept 2025OA/120/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by Canara Bank for recovery of loan dues of Rs.86,33,501.65 from three defendants, who were absent. The court held the applicants entitled to recover the amount with interest and costs, directing the issuance of a recovery certificate.

What did the court decide?

Defendants declared jointly and severally liable to pay Rs.86,33,501.65 with future interest at 11% p.a. from application date, costs, and entitlement to proceed against mortgaged property.

Canara Bank versus Nageli Suneel Kumar — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE O4TH DAY OF SEPTEMBER, 2025 PRESENT: SH. RAMESHWAR KoTHE, B.com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 120 OF 2025

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Canara Bank., Thimmampalli Branch Door No.5/5, Near Bus Stand Yellan ur Mandal, Anantapur Andhra Pradesh - 515165. Rep. by its Manager.

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. . ...Applicant.

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Versus

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Nageli Suneel Kumar S/o. Late N. Srinivasulu Naidu D.No.13/21 Kallur(V) yellanur Mandal Anantapur, Andhra pradesh _ S15465.

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Nageli Vengama Naidu .S/o.^{VenkataNarayana,Ka ur(V)} Yellanur Mandal, Anantapur Andhra^pradesh - 515465.

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Mallempudi Venkata Narayana S/o. Chinna Kondaiah, Ka ltur(V) Yellanur Mandal, Anantapur Andhra Pradesh - 515465. ...Defendants

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Counsel for the Applicant : M/s. P.Sai Cha ndrasekhar Defendants :Ex-parte

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:: ORDER ::

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The Applicant Bank flled the present OA for the recovery a total sum of Rs.86,33,601.6ps towards Loan A/c. Nos. 31378380021946,3378380024105 KCC Loan, Term Loan from $ry'^n'

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-.^{-^'}

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oA.NO.120/2025

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the defendants^{jointly and severallywith futureinterest} @11.90o/o^{p.a' from the date of applicationtill the date of} realization^{along with costs and in default for sale of OA} schedule ProPerty^'

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Summons^{servedon D1 to 3They were set ex-parte on} 09.07.2025^{as called absent and no representation'} The Appllcant^{Bank examined Islavath V Nayak'Senior} Manager,^{as Aw-1 and marked 10 documentsthrough himas} Ex. A.1^{to Ex. A 10 '}

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Heard^{the Ld. Counselfor the ApplicantBank Perused the} material Placed^{on record'}

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The^{point that arises for considerationis:-}

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Whether^{the Applicant Bank is entitled}

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for the^{claim madein the OA against} the^{Defendantsand OA schedule}

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ProPertY?

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As stated^{supra, the Defendants remained ex-parte The} Evidence^{Affidavit coupledwith the recitalsin the documents} viz., Exs.A.1^{to A,10 marked on behalf of the Applicant Bank} clinchestheClaimoftheApplicantBankagainsttheDefendants. Hence,IholdthattheDefendantsarejointlyandseverallyliable to^pay the^{OA claim to the Applicant Bank with futureinterest} and costs.

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In the result,^{the present Original Application No 120/2025is} altowed^{as under: -} I ]t* a.-.."'lr^-

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oA.NO.120/2025

¶25

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i) The Defendants are iointly^{and severally} liable to^pay to the^{ApplicantBank a total} sum of Rs.86,33,501.6ps^{towardsLoan A/c.} Nos. 31378380021946,^{3378380024105KCC} Loan, Term Loan;^with future^{interest@11Vo} 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 described^{inthe schedule} annexed to the^{OA and the applicant bankis} entitled to^proceed against^{the same to} realise its debti

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

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iv) the applicant bank^{is entitled for the costs.}

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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 accordlngly.}

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Communicate a^{copy of thls order to the padiesconcerned'} (Dictated to the steno, corrected, signed and^{pronounced by me in theopencourt on} this the O4rh^{Day of September, 2025).}

¶33

K,' ESHWAR KOTHE) PRESIDING OFFICER

Canara Bank v. Nageli Suneel Kumar

Case brief

What is this about?

What did the court decide?

Canara Bank v. Nageli Suneel Kumar

Case brief

What is this about?

What did the court decide?

What the court decided

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