Allowed

Canara Bank v. M/S. Alankrutha Fashions

DRT12 Sept 2025OA/220/2025

Case brief

AI extract

What is this about?

In OA.No.220/2025, the Debts Recovery Tribunal at Hyderabad considered an application by Canara Bank for recovery of a loan amounting to Rs. 35,29,936.92 against M/s. Alankrutha Fashions and M/s. Divya Enterprises. The defendants were absent. The tribunal allowed the OA, directing respondents to pay the principal, penal interest, and future interest along with costs and conferring power to proceed

What did the court decide?

Respondents directed to pay Rs. 35,29,936.92 with future interest and costs; Recovery Certificate issued.

Canara Bank versus M/S. Alankrutha Fashions — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD DATED THrS THE 12rH DAy OF SEPTEMBER, 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

¶3

OA.No.22O ot 2O2S

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Between:

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Canara Bank, Ramachandrapuram branch, Hyderabad, Sangareddy district Represented by its Manager

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Applicant

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VERSUS

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M/s. Alankrutha Fashions, Plot no.412, Laxmi Sai Meadows, Road no.5, near^pochamma temple, Beeramguda sub dist; Ameenpur, Sangareddy dist, TS - SO2 03i2.

¶9

M/s. Divya Enterprises,
Represented by its proprietor,
Doritla Divya, W/o DoriUa Anand
Aged about 39 years, occ: business,
Plot n.388 part, Vandanapuri
Colony, Beeramguda,
Pata nch eruvu .
Defendants
Counsel for the pa,rlies:
,.,.
For the Applicant ' D.L. Kiran Prakash
For the Defendants
rte
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: 1z siP,,r,c
l0noen:'
1. The Appticant Aahk
OA against Defendants for
recovery of a total sum ofR6.S5,28,g36.g2ps (Rupees Thirty Five

¶10

(oA.No.220 of 20251

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Lakhs Twenty Eight rhousand Eight Hundred Thirty six and paise Eighty two only) with future interest @ 13.30o/o p.a with monthly rests (inclusive of @2o/o penal interest) from date of filing of OA till the date of realization and in default for sale of hypothecated property as mentioned in the schedule to OA.

¶12

As per the averments in the application, the Applicant Bank states that defendants no.1 is a proprietary firm represented by its proprietor defendant no.2 who availed term loan of Rs.B.00 lakhs and agreed to repay the loan in 60 monthly installments of Rs.20,482l- against hypothecation of movables as mentioned in the schedule to oA. The defendants also availed overdraft facility of Rs..10.00 lakhs and executed necessary documents. The defendants also availed term loan of Rs.23.00 lakhs and overdraft facility of Rs.75,000/- and executed necessary documents. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NpA on 09.10.2024 and legal notice was issued on 02.0 5.2025. Inspite of several requdsts and demands, the defendants did not clear the outstanding. Hence this oA.

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Defendants called absent and set exparte on t4.o7.zozs.

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. .r_:" .".,:tq$'-*'--:...";", :"." 4. sri A.r. nao;.Spnlqr :."I.- Manuger . .-^*ft of the Applicant Bank examined himself as AW,i" ;ra-"-niri "o'ffirfot documents, which are marked as Ex.A. *l

¶15

(OA.No.220 of 2025)

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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

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entitled for the claim made in the OA against the Defendants as prayed for?

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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 he exhibited rerevant documents as Ex.A1 to A.32, 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 craim made in the oA with future interest and costs.

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B. In the result, the present OA is allowed with costs, as under: The Defendants are joinUy and severally liable to pay to the Applicant Bank a total sum of Rs.35,2g,g36.g2ps (Rupees Thirty Five Lakhs Twenty Eight Thousand Eight Hundred Thirty Six and paise Eighty two only) with future interest @ 13.30olo p.a from date of filing of OA till the date of realization.

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The Applicant. Bank is entitled to proceed against the hypothecated property schedule to OA towards realisation of the

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debt d 2 $P^?rtr

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(OA.No.220 of 202s)

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The Applicant Bank is also entitled to proceed against the person and properties of defendant No,2 and properties of defendant no.1 firm towards realization of the debt due.

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The Applicant Bank is entitled to the costs of the OA.

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12' 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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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 12th day of Sept, 2025)

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sd/(G. GOPTCHAND) PRESIDING OFFICER

¶31

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¶32

Canara Bank v. M/S. Alankrutha Fashions

Case brief

What is this about?

What did the court decide?

Canara Bank v. M/S. Alankrutha Fashions

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

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Case details

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