Allowed

Canara Bank v. Mrs. Lalitha Upadhyay

DRT11 Aug 2025OA/228/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by Canara Bank for recovery of a loan of Rs. 36,26,504/- along with interest and costs. The bank's claim was established upon examination, and the defendants were held jointly and severally liable to pay the amount.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 36,26,504/- with interest at 9.10% p.a. from 01.05.2025 till realization. Applicant entitled to proceed against mortgaged property and defendant's as

Canara Bank versus Mrs. Lalitha Upadhyay — Contract and Commercial Disputes | DRT (2025)

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7IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE l1rH DAy OF AUGUST,2025

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PRESENT: SRI GUMMADI GoPIcHAND, PRESIDING oFFICER

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OA.No.228 OF 2O2s

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Between:

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Canara Bank, Ahmednagar branch, DP code -L622, 10-5-29, First Lancer road, H umayunnagr, Hyderabad - 28.

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Represented by its Branch Manager

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Applicant

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VERSUS

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Mrs. LalithaUpadhyay,

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w/o Sri litender Lal Upadhyay,

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aged about 48 years, occ: business,

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H.No.4-5-200 /t/A, Lata Temple,

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Pan Bazar, Secunderabad - 03.

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And director of

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M/s. Maasati Steel Corporation pvt Ltd, Sy.no.150/P, 545/2/1, Near steel colony, Dhoolapally village, IDA, leedimetla, Qutubullapurmandal, Medchal-Malkajgiri District - 14

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And also at:

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Flt no.2, ground floor, Giridhar Homes, H.No.5-21-6814 & B, Otd ward nO.2,., .;'^- -. . slz -:'I,Guntur Block no.7, city, Brodipet AP - 522 002.2/12 lane,y'k'':':' r 2. Sri KunalA Dholakia, 11,.IJlztr* s/o Atul N Dholakia, aged a 4t years, occ: service/ busi

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(oA.No.228l 202s)

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R/o flat no.301, Sunaina towers, Bapujinagar, Bowenpally, Secunderabad - 500 011.

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And working as Asst. Manager Genpact India Private Ltd, Delhi Information Technology park, Shastri park, GT road, New Delhi - 110 053.

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Defendants

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Counsel for the Parties:

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For the Applicant

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For the Defendants

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Sri V. Janardhan Expa rte

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ORDER

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The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.36,26,5O4/- (Rupees Thirty Six Lakhs Twenty Six thousand Five Hundred and four only) with interest @ 9.10o/o p.a from 01.05.2025 till the date of realization and in default for sale of mortgaged property as mentioned in the schedule to OA.

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As per the averments in the application, the Applicant Bank states that Defendant no.1 is the borrower and defendant no.2 stood as guarantor availed housing loan facility of Rs.25.00 lakhs on 27.70.2017. The defendanrc 6.foe0 i agreement, take deliver letter to oeN atongffi oro-ffiru ntee agreement. After availing the toan fi' to comply the terms of sa nction, h ified the account

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(oA.No.228l 2025)

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as NPA and issued Iegar notice dated 04.03.2025. Inspite of severar requests and demands, the deFendants did not crear the outstanding. Hence this OA.

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Defendants called absent and set exparte on 01.0g.2025.

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Sri shaiksaleem, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1to A.17.

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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. 17. 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.

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B. In the resu lt, costs, as under:

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(OA.No.228l 2025)

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The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.36,26,5O4/- (Rupees Thirty Six Lakhs Twenty Six thousand Five Hundred and four only) with interest

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@ 9.10olo^p.a from 01.05.2025 till the date of realization

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

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The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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Issue Recovery ceftiFicate accordingly.

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Communicate a copy of the order to the parties concerned.

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(Dctated to the^p.A., transcribed by her, corrected, srqned and pronounced by me in the open court on thrs Ihe ll" ddyo.Aug, 2025)

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,u.^uor,arjl'o, PRESIDING OFFICER

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*,'hm'

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Canara Bank v. Mrs. Lalitha Upadhyay

Case brief

What is this about?

What did the court decide?

Canara Bank v. Mrs. Lalitha Upadhyay

Case brief

What is this about?

What did the court decide?

What the court decided

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