Allowed

Central Bank of India v. Lachu Cement Bricks Unit

DRT24 Jul 2025OA/18/2025

Case brief

AI extract

What is this about?

In an original application for debt recovery, the Debts Recovery Tribunal II at Hyderabad allowed the claim of Central Bank of India against the defaulting borrower Lachu Cement Bricks Unit for a term loan, granting recovery from hypothecated vehicle proceeds and other properties.

What did the court decide?

Order allowed. Defendant to pay sum of Rs.21,17,352/- plus future interest and costs. Bank entitled to proceed against hypothecated vehicle and other properties for realization.

Central Bank of India versus Lachu Cement Bricks Unit — Banking and Recovery | DRT (2025)

¶1

. IN THE DEBTS RECOVERY^{TRIBUNAL-II AT HYDERABAD} DATED THIS THE 24TH^{DAY OF JULY,2025}

¶2

PRESENT: SH. RAMESHWAR^{KOTHE,B.COM.,L.LB. (HONS.),M'A.}

¶3

PRESIDING OFFICER

¶4

ORIGINAL APPLICATION^{No: 18 OF 2025}

¶5

Central Bank of India., H.No.5-4-634, Ground^{Floor, Near Kamala Nagar} Bus Stop, Kamala Nagar,^{Vanasthalipuram} Hyderabad, Telangana -^500070. Rep. by its Authorized Signatory.

¶6

.....Applicant'

¶7

Versus

¶8

Lachu Cement Bricks Unit., A Proprietary Concern of^{MadavathLachu} Rep by its Sole Proprietor^{MudavathLachu} R/o.Plot No.C-209,^{Banjara ColonY} Hayathnagar, Ranga Reddy^District Telangana - 501505.

¶9

Also at:-

¶10

R/o. House No.4-3-13514223 Near Gopi Krishna Temple, Ranganayakula Gutta, Bhagat Singh Nagar,^Hayathnagar Mandal, Ranga Reddy, Telangana - 501505.

¶11

.'.Defendant

¶12

: M/s.B.Ravindra Reddy Counsel for the Applicant Defendant : Ex-Parte

¶13

:: ORDER ::

¶14

The Applicant Bank filed the^present OA for the recovery a^total sum of Rs.21,77,352/- as on 18.12.2024 towards Term^Loan A/c.No.5311365725 from the defendant with future interest @9.90%^p.a, from the date of application till the date^of realization along with costs and in default for sale of hypothecated assets. fuo#

¶15

oA.NO.18/2025

¶16

Summon served on sole defendant and was set ex_parte on 19.02.2025 as called absent and no representation.

¶17

The Applicant Bank examined Narasimha Rao, Branch Manager, as AW-1 and marked 21 documents through him as Ex.A.1 to Ex.A.21.

¶18

Heard the Ld. Counsel for the Applicant Bank. perused the material placed on record.

¶19

The point that arises for consideration is:-

¶20

Whether the Applicant Bank is entitted for the claim made in the OA against the Defendant and OA hypothecated assefs?

¶21

As stated supra, the Defendant remained ex-parte. The Evidence Affidavit coupred with the recitars in the documents viz., Exs.A.1 to A.21 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is liable to pay the OA claim to the Applicant Bank with future interest and costs.

¶22

In the result, the present Original Application No.1Bl2025 is allowed as under: -

¶23

i) The Defendant is liable to pay to the Applicant Bank a sum of Rs.21,17,352/- as on 18.12.2024 towards Term Loan A/c.No.5311365725 with future interest @9.90o/o^p. a. sim ple from the date of application till the date of realization;,.]/uj"y.rb

¶24

oA.NO.18/2025

¶25

ii) the OA claim is secured by way of hypothecation of vehicle described in the schedule annexed to the OA and the applicant bank is entitled to^proceed against the same to realise its debt;

¶26

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

¶27

iv) the applicant bank is entitled for the costs.

¶28

B. The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

¶29

Issue Recovery Certificate accordingly.

¶30

Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 24th Day of^july, 2025).

¶31

k"o

¶32

(RAMESHWAR KOTHE) PRESIDING OFFICER

Central Bank of India v. Lachu Cement Bricks Unit

Case brief

What is this about?

What did the court decide?

Central Bank of India v. Lachu Cement Bricks Unit

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Icici Bank Limited versus Mr. Vds Prakasa Rao Palepu

Smt Gulab Saraf versus Cholamandalam Investment and Finance Co. Ltd.

shilpa agarwal versus Indusind Bank Limited

Union Bank of India versus M/S. Milligram Laboratories

Union Bank of India versus Mr. Mohammed Tahir

Y Srinvasa Reddy versus Srinivasa Reddy