Allowed

Canara Bank v. M/s. Faheem Plastics.

DRT19 Nov 2025OA/218/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed Canara Bank's recovery claim against M/s. Faheem Plastics and others. Joint and several liability was established; property mortgage and recovery certificate were granted.

What did the court decide?

Defendants ordered to pay total sum of Rs.84,28,660.50 with interest; bank entitled to proceed against mortgaged and other properties; recovery certificate to be issued.

Canara Bank versus M/s. Faheem Plastics. — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 19TH DAY OF NOVEMBER, 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: 218 OF 2025

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Canara Bank.,

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Hayathnagar Branch, Ranga Reddy Dist, T.S. Rep. by its Authorized Signatory. .....Applicant.

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Versus

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M/s. Faheem Plastics,, B 4511, H.No.11-13-613, Road No.5 Opp. Municipal Park, Haripuri Colony Saroornagar, Hyderabad-500035, TS. A Proprietary Concern, Rep by its Proprietor.

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Mrs. Faheem Begum, W/o.Sri Syed Mosln, 2-3-48lH2, Proprietor of 1st Defendant, Quadri Bagh, Amberpet Hyderabad - 500013, T.S.

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Mr. Kandala Srikanth, S/o.Sri.K.Laxmana Chary, B 45/L, H.No.11-13-613,^{Road No.5} Opp. Municipal Park, Haripuri Colony ...Defendants

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Saroornagar, Hyderabad-500035, TS.

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Counsel for the Applicant : Mr. GampA Rangaiah Defendants : Ex-pafte

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:: ORDER::

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The Applicant Bank filed the^{present OA for the recoverya total} sum of Rs.84,28,660.50ps^{i.e., a sum of Rs.52,24,163/-} towards OCC/OD^{Facilitywith future interest @13.50o/op.a' and}

fug,v

oA.NO.218/202s

a sum of Rs.32,04,497 .50ps towards Term Loan with future interest @13.700lo p.a. from the defendants jointly and severally with monthly rests from 01.03.2025 till the date ol realization along with costs and in default for sale of OA schedule properties.

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Summons served on Dl to 3 through paper publication. They were set ex-parte on 77.07.2025 as called absent and no representation.

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The Applicant Bank examined B. Sai Kiran, Legal Manager, as AW-1 and marked 22 documents through him as Ex. A.1to Ex. 4.22.

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

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5, The point that arises for consideration is:-

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Whether the Applicant Bank is enti ed 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.22 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 Appltcant Bank with future interest and costs.

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In the result, the present Originat Apptication No.218/2025 is allowed as under: - OY"*

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oA.NO.218l202s

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.84,28,660.50ps i.e., a sum of Rs.52,24,t63l- towards OCC/OD Facility and a sum of Rs.32,04,497.50ps towards Term Loan; with future interest @9.80o/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 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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B. 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^{mein the open court on} this the 19th Day of November, 2025).

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dY"." (RAMESHWAR KOTHE) PRESIDING OFFICER

Canara Bank v. M/s. Faheem Plastics.

Case brief

What is this about?

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Canara Bank v. M/s. Faheem Plastics.

Case brief

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