Allowed

Canara Bank v. Sri. Sura Sree Harsha

DRT25 Nov 2025OA/156/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the Originating Application filed by Canara Bank against three defendants for recovery of dues aggregating Rs. 1,48,59,701.51 with future interest and costs, leading to a recovery certificate.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 1,48,59,701.51 with future interest; Bank entitled to proceed against secured and unsecured properties; Recovery Certificate issued.

Canara Bank versus Sri. Sura Sree Harsha — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL -^{I AT HYDERABAD} DATED THIS THE 21St DAY OF^{NOVEMBER,2025}

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PRESENT: SRI GUMMADI GOPTCHAND,^{PRESIDING OFFICER}

OA. No. 156 OF 2025

Between :

Canara Bank,

Hitech AF Abids Branch, Hyderabad - 500 001 Represented by its Authorized Representatives

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Applicant

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VERSUS

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Sri. Sura Sree Harsha,

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S/o. Sri Sura Mohan Rao,

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Aged about: 38years, Occ : Student, H.No. 1-9-25219/26, Quarter No. 26, MCH East Colony, East Parsigutta,

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Hyderabad - 500 036.

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Also at -

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H.No. 7- 63, Patel Road, Shadnagar, Farooqnagar Mandal, Mahabubnagar District, Telangana State - 509 216.

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Smt. Boddepalli Nirmala,

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Wo. Mr Sura Mohan Rao, Aged about:64^years, Occ: Business, , Quarter^{No. 26,}

llDV trx * ? erl

(oA. No. Ls6l2o2sl

Also at -

Flat No. 401, Ward No.8, Block^No.7, Situated at RKR Enclave, lndraprastha Colony, Karmanghat, Saroornagar Mandal, Under GHMC L B Nagar Circle^{Ranga Reddy District} -^{500 035'}

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Sri. Sura Mohan Rao, S/o. Sura Narsimhulu, Aged about: 65 years, Occ : Business, H.No. 1-9-25219/26, Quarter No. 26, MCH East Colony, East Parsigutta, Hyderabad - 500 036. Defendants Counsel for the^parties: For The Applicant A. Sravanthi Defendants No 1 and 2 Exparte For the Defendant No. 3 Sri. P. Ravi Reserved on 18.11.2025 Pronounced on 21.11.2025 Upload in website on 25.11.2025

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ORDER

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The Applicant Bank filed the^present OA against^{Defendants for} total sum of Rs.l,48,59,701.51 Ps.^(RupeesOne Eight Lakhs Fifty Nine Thousand^Seven and Paise Fifty One Only) i.e a sum^of - ilil!,1tfi"0

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(oA. No. 1s5l202s)

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(i) Rs.84,74,057.84 Ps. (Rupees Eighty Four Lakhs^Seventy Four Thousand Fifty Seven and^{Paise Eighty Four Only)} with future interest @ 12oh^{p.a with monthly rests from} 08.04.2025 till the date of realization.

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(ii) Rs.63,85,643.67 Ps. (Rupees Sixty Three Lakhs Eighty Five Thousand Six Hundred Forty Three^{and Paise Sixty} Seven Only) with future interest @^{10.90o/o p.a with monthly} rests from 08.04.2025 tillthe date^{of realization.}

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and in default for sale of Hypothecated^{Movablesand Mortgaged} Property as mentioned in the Schedules^{to OA}

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As per the averments in the application,^{the ApplicantBank states} that Defendant no. 1 is a borrower^{and Defendant no. 2 is a Co-} borrower and Defendant no. 3 is the Guarantor^{. The Applicant} Bank contended that defendants availed Term loan^of Rs.49,50,000/- and executed Memorandum of^Agreement Agricultural Loan dated 28.09.2015^{in favour of the applicant} bank. The Defendant No.3 executed^{guarantee Agreementdated} 28.09.2015 in favor of the Applicant^Bank. The^{DefendantNo.1} availed educational Loan of Rs.34.00^{Lakhs and executed} Educational Loan Agreement dated^{31.003.2017 in favor of the} Applicant Bank. The Defendant no. 3^{executedGuarantee} agreement d?ted 31 .03.2017 in^{favor of the ApplicantBank. After} :'' availing the l'qqlijacility, " the^{defendants failed to complythe terms} .: *-' ., of sanctiol, henq€ the applicant^{bank classified the account as} ,,,'\ !t NPA on 29.12:2620 and issued Demand notice on. 07.04.2025

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(OA. No. 1s6/2025)

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and 09.04.2025 under Section^{13(2) of the SARFAESIAct, 2002.} lnspite of several requests and demands,^{the defendantsdid not} clear the outstanding. Hence this OA.

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Defendants No. 1 and 2 called absent and set exparte^on 11.08.2025 Sri P. Ravi filed Vakalat on behalf of^{Defendant No. 3.} Even after the lapse of 45 Days WS of Defendant No.3^{not filed} and hence the right of filing of WS of^{Defendant No.} 3^forfeited on 01.09.2025.

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Sri. C.N. Swamy, Chief Manager of the^{Applicant Bank examined} himself as AW.1 and exhibited relevant documents, which^are marked as Ex.A.1 to A.30.

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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 no. 1 and 2 remained exparte. Defendant^{No. 3 did} not file their WS even after availing sufficient time^To substantiate the case of the Applicant Bank,^{AW.1, officialof the} Applicant Bank was examined and he exhibited^relevant documents as Ex.A.1 to A.30. ln view^{of the above,I hold that the} -^{'Applicant Bank has establishedtheir claim made in the OA} .,,'^{i::"ag?lfistthe Defendantsand hence the ApplicantBankis entitled} i: ,- ii '" i ! to . recoyor^1...t "t^tne cl{im ,i^{madein the OA withfutureinterest and costs.} , 'r'.:ⁱ '- ii ii,.,;.), q1

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.. -" ..; , "i,.

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(oA. No. 1s6/202s)

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ln the result, the present OA is allowed with costs, as under : The Defendants No. 1 to 3 are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.1,48,59,701.51 Ps. (Rupees One Crores Forty Eight Lakhs Fifty Nine Thousand Seven Hundred One and Paise Fifty One Only) i.e a sum of -

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(i) Rs.84,74,057.84 Ps. (Rupees Eighty Four Lakhs Seventy Four Thousand Fifty Seven and Paise Eighty Four Only) with future interest @ 12% p.a with monthly rests from 08.04.2025 till the date of realization.

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(ii) Rs.63,85,643.67 Ps. (Rupees Sixty Three Lakhs Eighty Five Thousand Six Hundred Forty Three and Paise Sixty Seven Only) with future interest @ 10.90% p.a with monthly rests from 08.04.2025 tillthe date of realization.

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o The Applicant Bank is entitled to proceed against the Hypothecated Movables and Mortgaged Property mentioned in the Schedules to the 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. 1 to 3 towards realization of the debt due.

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That Applicant Bant< is entitled to the costs of the OA. 1.1-

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f:'"

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The ApPtrlbrnt shall file a cost memo within two weeks from the .!r". date of re&ipt'of order.

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(oA. No.7s6/202sl,

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lssue Recovery Certificate accordingly.

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14. 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 2lstday of Nov, 2025)

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sd/(G. GOPTCHAND) PRESIDING OFFICER

Canara Bank v. Sri. Sura Sree Harsha

Case brief

What is this about?

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Canara Bank v. Sri. Sura Sree Harsha

Case brief

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