Allowed

Bank of India v. M/S. Sri Bhavani Engineering Enterprises

DRT3 Jul 2025OA/206/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's application for recovery of a loan of Rs. 51,33,731 along with interest and costs against the defendants, holding them jointly and severally liable based on marked documents.

What did the court decide?

Defendants jointly and severally liable to pay loan dues with interest; bank entitled to proceed against hypothecated vehicle and defendant persons/properties for realization.

Bank of India versus M/S. Sri Bhavani Engineering Enterprises — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE O3RO DAY OF ]ULY, 2025

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PRESENT: SH. RAMESHWAR KoTHE, B,Com., L.LB, (Hons.), Iv],A. PRESIDING OFFICER

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ORIGINAL APPLICATIoN No: 206 oF 2025

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Bank of India, Neredmet Branch Opp Krupa Complex, p.O. RK puram Secundera bad, Tela ngana State-500056. Rep. by its Constitute Attorney.

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.....Applicant.

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Versus

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M/s.-Sri Bhavani Engineering Enterprises.,

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Plot No.6 North portion, IDA phase I Bandlaguda,^patancheru, Sanga Reddy_502319. Represented by Defendant No.2 and 3.

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Smt.,K Badramma, W/o.Late L.Venkateswara Rao Aged 57^years, Occ: Not Known, Gender Female R/o.H.No.23-3 / /2. lyothi Nagar Ramachandra puram, Hyderabad _ 502032.

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Also at:-

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M/s..Sri -Bhavan i Engineerjng Enterprises., Ptot No.6 North portion, IDA phase I Bandlaguda,^patancheru, Sanga Reddy_ 502319.

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Ms^pavnni Lachireddy, D/o. Late L.Venkateswara Rao Aged Major, Occ: Not Known, Gender Female R/o.H,No.23-37 /2, lyothi Nagar Ra machandrapu ra m, Hyderabad _ SO2O32.

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Also at:-

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M/s..Sri Bhavani Engineering Enterprises., Prot No.6 North Portion, IDA Phase I tsandlaguda,^patancheru, Sanga Reddy_502319. ...Defendants

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Counsel for the Applicant :M/s.D.Brahma Reddy

Defendants

, er-purt Not.g

oA.NO.2O5l202s

::^{qLLEL ::}

The Applicant Bank^{filed the present OA for the recovery a total} sum of Rs.51,33,731l-^{towardsLoanA/c.No 864160510000168} from the defendants^{jointly and severally with future interest} @8.950/o^{p.a. with monthlyrests plus 2olo penal interestfrom} the date of^{application till the date of realizationalong with} costs and^{in defaultfor saleof hypothecated vehicle'}

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Summons^{sent to D1 to 3 returned withendorsementrefused} hence, deemed^{to be served They were set ex-parteon} 30.04,2025^{as called absentand no representation'}

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The Applicant^{Bankexamined Sake Uday Kumar' Credit} Manager,^{as AW-1 and marked 27 documentsthrough him as} Ex. A.1 to^{Ex. A.27.}

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Ld. Counsel^{for the ApplicantBank reported ordersmay be} passed through^{merits' Perused the material placed on record'}

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The^point that^{arises for considerationis:-}

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Whether^{the Applicant Bank is entitled} for the^{ctaim made in the OA against} the Defendants^{and OA hYpothecated} vehicle?

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As stated^{supra, the Defendants remained ex-parte The} Evidence^{Affidavitcoupledwith the recitalsin the documents} viz., Exs.^{A.1 to A 27 markedon behalfof the Applicant Bank} cllnchestheclaimoftheApplicantBankagainsttheDefendants. Hence, I^{hold that the Defendants are jointly and severally liable} to^pay the^{OA claimto the ApplicaR,Bank-withfutureinterest} and costs. /X"

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oA.NO.206/202s

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In the result, the present Original Application No.206/2025 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.51,33,731l- towards Loan A/c. No. 864160510000168 with future interest @8.95olo^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 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;

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

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iv) the applicant bank is entitled for the costs.

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The Applicant Bank is directed to file Cost Memo^{within2 weeks} from the date of receipt of this Order.

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q Issue Recovery Certificate accordingly.

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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 03'd Day of July, 2025).

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?0r**--,tt9 /,, ' 'a --a '+)'Q) (RAII4ESHWAR KOTHE) PRESIDING OFFICER

Bank of India v. M/S. Sri Bhavani Engineering Enterprises

Case brief

What is this about?

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Bank of India v. M/S. Sri Bhavani Engineering Enterprises

Case brief

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