Allowed

The Karur Vysya Bank Limited v. M/S. Vaibhav Textiles and Readymades

DRT11 Dec 2025OA/153/2025

Case brief

AI extract

What is this about?

The DRT allowed the bank's Original Application seeking recovery of approximately Rs. 8.55 crore from the defendants jointly and severally with future interest and costs, relying on default proceedings and mortgage schedule.

What did the court decide?

Defendants declared jointly and severally liable to pay Rs. 8,55,22,668.37 with interest; recovery certificate issued; costs awarded.

The Karur Vysya Bank Limited versus M/S. Vaibhav Textiles and… — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 1lTH DAY OF DECEMBER, 2025

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

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ORIGINAL APPLICATION No: 153 OF ZOZ5

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The Karur Vysya Bank Limited., Having its Branch at 632, Mosque Road Opp Municipal Office, Chittoor District Tirupathi, Andhra Pradesh - 517501. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s. Vaibhav Textiles and Reddymades., Rep by its Partners, Mr.Veera Venkata Ramana, Mrs.Suryavathi T, Door No. 9-1-18, TK Street, Tirupathi - 517501.

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Mr. Togaru Veera Venkata Ramana S/o. t. Borabbaiah, Aged about 66 Years, Occ: Business, partner of M/s. Vaibhav Textiles and Reddymades Door No.9-1-18, KT Street, Tirupati-S17501.

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Mrs. Togaru Suryavathi W/o. Togaru Veera Venkata Ramana Aged about 60^years, Occ: Business Partner of M/s.Vaibhav Textiles and Reddymades, D.No,9-1-1g, KT Street Tirupathi - 517501.

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Mr. Taguru Sathish Babu S/o. Togaru Veera Venkata Ramana Aged about 42years, Occ: Business Door No.9-1-18, KT Street, Tirupati-517501.

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It4rs. Taguru Ganga Llakshmi w/o. Taguru Sathish Babu Aged about Years, Occ: Business Doo r No.9-1-18, KT Street, Tirupati-517501.

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oY'"""

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oA.No.153/202s

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lvlr. RaYaPati^Ganesh S/o. RavaPati^{JanakiramaYYa} Aoed about^{50 Years, Occ:Business} o'"oi No.s r-ra,^{KT Street, Tirupati-517501'}

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Mrs. Lova^{LakshmiR, W/o' R Ganesh} Aoed about^{41 Years, Occ:Business} oZ"i rtro.s r^{re, KT street, Tirupati-517501'}

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. .. Defendants

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: Mr. Lanka^Jagannaadham Counset^{for the APP|icant} : Ex-parte Defendants

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:: ORDER^::

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The Applicant^{Bank filed the present OA for the recovery a total} sum of^{Rs.8,55, :22,668'37psfrom the defendantsjointlyand} severally^{with future interest @17 1oyo p'a from the date of} application^{till the date of realization along with costs and in} default^{for sale of OA scheduleproperties'}

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Summons^{served on D1 to 7 through paper publication'They} were set^{ex-parte on 25'062025 as called absentand no} representation.

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The Applicant^{Bank examinedPNSVChalapathiRao' Senior} Manager,^{as AW-1and marked 34 documentsthrough himas} Ex. A.1 to^{Ex. A.34'}

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

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The^{point that arises for considerationis:-}

N""s

oA.NO.1s3l202s

Whether the Applicant Bank is entitted for the claim made in the OA against the Defendants and OA schedule properties?

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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.1 to A.34 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinfly 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.153/2025 is allowed as under: -

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i) The Defendants are join y and severally liable to pay to the Applicant Bank a sum of Rs.8,55,22,668.37ps with future interest @10.80o/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 entiued to proceed against the person and properties of defendants for realization of its dues;

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iv) costs,

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oA.NO.153/2025

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B. 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 accordingly'}

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Communicate^{a copy of this order to the parties concerned'} - -- (Dictated to tn" ,t"no,^{totiected,signedand pronouncedbyme in the open court on} this the 11rh^{Day of December,2025)'}

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t t /fry.,^' tt'

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(RA-MESHWAR^KOTHE) PRESIDING^OFFICER

The Karur Vysya Bank Limited v. M/S. Vaibhav Textiles and Readymades

Case brief

What is this about?

What did the court decide?

The Karur Vysya Bank Limited v. M/S. Vaibhav Textiles and Readymades

Case brief

What is this about?

What did the court decide?

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