Allowed

Canara Bank v. Mr. Nandigam Suresh Raju

DRT9 Jul 2025OA/149/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an offline application filed by Canara Bank for recovery of a housing loan default. The defendants were absent and heard ex parte. The court held the bank established its claim and directed the defendants to pay the outstanding sum with future interest and costs, while authorizing proceedings against mortgaged and other properties.

What did the court decide?

Defendants liable to pay Rs.51,29,253/- with future interest; Applicant Bank entitled to proceed against mortgaged property and personal properties; Recoverv certificate issued.

Canara Bank versus Mr. Nandigam Suresh Raju — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THrs rHE 9rH DAy oF JULv, 2o2s

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.149 OF 2025

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Between:

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Canara Bank, Gandhinagar, Kavadiguda, Hyderabad, Telangana. Represented by its Manager

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Applicant

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VERSUS

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Mr. Nandigam Suresh Raju, s/o NandigamVara Prasad,

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aged major, occ: Govt Employee, H.No.2-31-M0026, plot no.233/ North part, survey No.139,

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Badangpet village and Municipaltty,

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Ranga Reddy district - 500 058. TS.

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Also at

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No. 16- 1-24,HPL Police Quarters, G2, Saidabad, Hyderabad - 59.

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Mr. N. Vara Prakash, S/o NandigamVara Prasad, Aged major, occ: govt employee, No.3-530/6, Chandra nagar colony, Near HP Gas Godown, Macha Bollaram, Medchal, Malkajgiri- 500 010. Telangana state. Defendants

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rgr6ngfeft3oanB

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M/s. M.V. Kini Exparte

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(oA. No.149/202s)

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ORDER

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1' The Appricant Bank fired the present oA against Defendants for recovery of a total sum of Rs.51,29,253/- (Rupees Fifty One Lakhs Twenty Nine Thousand Two Hundred and Fifty three only) with future interest @ 13.25olo p.a from date of application till the date of realization and in default for sale of 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 defendants No.1 & 2 availed housing loan facility of Rs.47,48,000/- on 31.0g.2023 and agreed to repay in 360 EMIs @ Rs.45,949/- per month. The defendant no.1 offered the schedule mentioned property and created equitabre mortgage in favour of appricant bank' After avairing the roan facirities, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NpA on 04.11.2024 and demand notice was issued on OS.LL.2O24 . Inspite of several requests and demands, the defendants did not crear the outstanding. Hence this oA.

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absent and set exparte on 30.06.2025.

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S.hl*'S[.n'

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(OA.No.1a9l202s)

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SmtG. KasiVisalakshi, Senior Manager of the Applicant Bank examined herself as AW.1 and exhibited relevant documents, which are marked as Ex,A.1 to A.9.

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Heard the Ld. Counsel for the Applicant Bank.

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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 remainedexparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and she exhibited relevant documents as Ex.A1 to A.9. In view of the above, I hord that the Appricant Bank has estabrished their craim 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 and costs.

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B. In the result, the present OA is allowed with costs, as under: The Defendants are joinUy and severally liable to pay to the Applicant Bank a total sum of Rs.51,29,253/- (Rupees Fifty One Lakhs Twenty Nine Thousand Two Hundred and Fifty three

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interest @ 13.25olo p.a rrom date or appricationril 6g=,t:re f;-Gg;rt*.",,". ; 09.lutxrr * Rs,***.!lf'-

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(oA.No.14el202s)

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9, The Applicant bank is entitled to proceed against the mortgaged property as mentioned in the schedule to oA towards realization of the debt due;

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The Applicant Bank is also entiiled to proceed against the person and properties of defendants towards realization of the debt due.

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The Applicant Bank is entiUed 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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Communicate a copy of the order to the parties concerned.

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(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 9th day of July, 2025)

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sd/-

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(G. GOPTCHAND) PRESIDING OFFICER

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Canara Bank v. Mr. Nandigam Suresh Raju

Case brief

What is this about?

What did the court decide?

Canara Bank v. Mr. Nandigam Suresh Raju

Case brief

What is this about?

What did the court decide?

What the court decided

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