Allowed

Canara Bank v. Sri K.G.Surendranath Yadav

DRT4 Sept 2025OA/202/2025

Case brief

AI extract

What is this about?

Debt Recovery Tribunal allowed Canara Bank's Original Application against two co-defendants for recovery of Rs.27.27 lakhs plus interest and for proceedings against mortgaged and personal properties arising from a defaulted term loan.

What did the court decide?

Defendants to pay Rs.27.27 lakhs plus future interest @13% p.a.; application for sale of mortgaged property and realization from personal properties allowed.

Canara Bank versus Sri K.G.Surendranath Yadav — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 4TH DAY OF SEPTEMBER, 2025

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PRESENT: SRI GUMMADI GoPICHAND, PRESTDING OFFICER

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OA.No.2O2 of 2O2S

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Between:

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Canara Bank, Branch office at New Nallakunta branch, Hyderabad. TS. Represented by its Chief Manager

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Applicant

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VERSUS

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Sri K.G. Surendranath yadav, s/o K.G. Rajagopala Naidu, TRT 269 & 270, GHMC H.No,2-2-3/278 & 229, Industrial area, Vidya nagar, Hyderabad - 500 044.

¶9

Mrs. K.G. Surekha yadav, w/o Sri K.G. Surendranath yadav, TRT 269 & 270, GHMC H.No,2-2_3/278 & 279, Industrial area, Vidya nagar, Hyderabad - 5OO 044.

¶10

Defendants
Counsel for the pa rties:
For
. K. Manikyamba
For
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1.
OA against Defendants for
O23.42ps (Rupees Twenty
MW,;
Seven Lakhs Twenty Seven Thousand twenty three and paise

¶11

(OA.202 of 202s)

¶12

forty two only) with future interest @ 13olo p.a from 09.04.2025 till the date of realization and in default for sale of mortgaged property as mentioned in the schedule to OA;

¶13

As per the averments in the apprication, the Appricant Bank states that defendant No.1 and 2 availed term loan facility with a limit of Rs.49.00 lakhs and executed the generar roan agreement dated 30.03.2015. Defendant no.2 being the co-borrower/ guarantor and owner of schedule property deposited the original tiue deeds with Applicant on 30.03.2015. After avairing the loan facirity, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NPA on 25.09.2025 and demand notice was issued on It.lo'2024. Inspite of severar requests and demands, the defendants did not clear the outstanding. Hence this OA.

¶14

Defendants called absent and set exparte on 26.08.2025.

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smt G. Jyothsna Manager of the Appricant Bank examined herserf as AW.1 and exhibited rerevant documents, which are marked as Ex,A.1 to A. 13.

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Heard the Ld. Counsel for the Applicant Bank.

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consideration is whether the Applicant Bank is e in the OA against the Defendants as

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"o '0.i srp aus itr

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(oA.202 of 202s)

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Defendants remained exparte. 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.13. In view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants and hence the Applicant Bank is entitled to recover the claim made in the OA with future interest and costs.

¶21

B. In the result, the present OA is allowed with costs, as under: The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.27,27,O23.42ps (Rupees Twenty Seven Lakhs Twenty Seven Thousand twenty three and paise forty two only) with future interest @ 13% p.a from 09.04.2025 till the date of realization;

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The Applicant bank ls 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 entitled to proceed against the person and properties of defendants towards realization of the debt due.

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to the costs of the OA.

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0tsiPM

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(oA.2o2 of 202s)

¶27

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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t4. 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 4th day of Sept, 2025)

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(G. GOPTCHAND)

PRESIDING OFFICER

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¶35

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¶36

Canara Bank v. Sri K.G.Surendranath Yadav

Case brief

What is this about?

What did the court decide?

Canara Bank v. Sri K.G.Surendranath Yadav

Case brief

What is this about?

What did the court decide?

What the court decided

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Parties & counsel

Coram

Case details

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