Allowed

Karnataka Bank Limited v. M/S. Vishal Agri Seeds

DRT12 Aug 2025OA/145/2025

Case brief

AI extract

What is this about?

DRT allowed theDebts Recovery Tribunal I allowed the applicant bank's application for recovery of Rs.36.12 lakhs with interest and costs, holding the defendants jointly liable and ordering the issue of a recovery certificate.

What did the court decide?

Order for payment of Rs.36,12,616.99 with future interest @16.10% p.a.; recovery certificate issued; rights to proceed against mortgaged property and personal assets.

Karnataka Bank Limited versus M/S. Vishal Agri Seeds — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 12TH DAY OF AUGUSTI2025

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PRESENT: SRI GUMMADI GoPIcHAND, PRESIDING oFFIcER

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OA.No.145 OF 2025

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Between:

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Karnataka Bank Ltd, Branch office at D.No.B-3-B/15, Hyderabad Road, Mettuguda circle, Mahabubnagar - 509 001. Telangana State. Represented by its Branch Manager

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Applicant

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VERSUS

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M/s. Vishal Agri Seeds, Partnership firm, Represented by its Managing Partner Mr. MaramMadhav Reddy, Office at D.No,B-5-1/6, Teachers colony, near water tank, Mahabubnagar, TS - 509 001.

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Mr. MaramMadhav Reddy, MaramNarsimhaiah, aged About 56 years, occ: business, D.No.B-5- 1/6, Teachers colony, near water tank, Mahabubnagar. TS - 509 001.

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3, Mr. MaramVikas, s/o MaramMadhav, aged major, occ: business, D.No.B-5-1/6, Teachers colony, near water Mahabubnagar, TS - 509 '^t\

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'^t<br>

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Mr. Syed Ahmed, s/o Syed Maheboob sab i 1 2 il,0 flps

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aged major, occ: business, =

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(oA.No. 1asl 202s)

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D. No.B-5- 1/6, Teachers colony, near water tank, Mahabubnagar, TS - 509 001.

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Defenda nts

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Counsel for the^parties: For the Applicant For the Defendants

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Sri K. Srinivasulu Expa rte

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ORDER

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The Applicant Bank filed the present oA against Defendants for recovery of a total sum of Rs,36,12,616.99ps (Rupees Thirty Six Lakhs Twerve Thousand Six Hundred sixteen and paise Ninety nine only) with future interest @ 16.10 o/o p.d from date of application tiil the date of rearizationand in defaurt for sare of hypothecated movabres and mortgaged property as mentioned in the schedule to OA.

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2' As per the averments in the apprication, the Appricant Bank states that Defendant no.1 is a partnership firm represented by its partners/ defendants no.2 & 3 and defendant no.4 stood as guarantor to the OD facility of Rs.25.00 lakhs. The defendants executed hypothecation agreement, demand promissory note etc. The defendant no.2 deposited the original tiue deed document 4ff= no.5925/20 d. loa n i, the to comply the terms of sanction, hence the account as NpA on

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(oA.No. lasl 202s)

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28.10.2020 and issued demand notice dated 29.09.2021. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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Defendants called absent and set exparte on 24.07.2025.

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Sri B. Charan Kumar Reddy, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1to A.13.

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Heard the Ld. Counsel for the Applicant Bank.

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6' The point that arise for consideration is whether the Applicant Bank is entitled for the claim made in the oA against the Defendants as prayed for?

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Defendants remained exparte. To substantiate the case of the Applicant Bank, AW.1, officiar of the Appricant Bank was examined and he exhibited rerevant documents as Ex.A1 to A.13. In view of the above, I hord that the Applicant Bank has established their claim made in the oA against the Defendants and hence the Appricant Bank is entitled to recover the claim made in the oA with future interest

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and costs.

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B. In the with costs, as under:

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12 /'Ul 2W

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(OA.No. 145/ 202s)

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The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.36,12,616.99ps (Rupees Thirty Six Lakhs Twelve Thousand Six Hundred Sixteen and paise Ninety nine only) with future interest @ 16.100/0 p.a from date of application till the date of realization;

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The Applicant Bank is entitled to proceed against thehypothecated movablesand mortgaged property as mentioned in the schedule to OA towards realization of the debt due;

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The Applicant Bank is also entitled to proceed against the person and properties of defendants No.2 to 4 and properties of defendant no.1 firm towards realization of the debt due.

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The Applicant Bank is entitled to the costs of the OA.

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The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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Issue Recovery certificate accordingly.

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14, Co-r1.[]glcate a copy oi the order to the parties concerned.

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nscribed by her, corrected, signed and pronounced by me in the open court on
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Karnataka Bank Limited v. M/S. Vishal Agri Seeds

Case brief

What is this about?

What did the court decide?

Karnataka Bank Limited v. M/S. Vishal Agri Seeds

Case brief

What is this about?

What did the court decide?

What the court decided

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