Allowed

M/S. Canara Bank v. M/S. Matrix Lab Tech

DRT4 Dec 2025OA/26/2025

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's original application for recovery of dues totaling over 1 crore rupees. Being ex-parte, the tribunal held respondents jointly and severally liable to pay the principal, future interest, and costs.

What did the court decide?

The defendants are jointly and severally liable to pay the total sum of Rs.1,01,46,774/- with future interest and costs; Recovery Certificate issued.

M/S. Canara Bank versus M/S. Matrix Lab Tech — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE O4TH DECEMBER, 2025

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PRESENT: SH. MMESHWAR KOTHE, B.COM., L.LB. (HONS.), M.A. PRESIDING OFFICER

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Original Application No: 26 OF 2025

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M/s. Canara Bank., SME Branch, Situated at Plot No.74 Prashanti Nagar, Kukatpally Hyderabad - 500072. Rep. by its Authorized Signatory.

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......Appticant

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Versus

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M/s. Matrix Lab Tech., Rep by its Prop. Smt G Santhi Krishna Shed No. 77lA,znd Floor, APIIC MS Complex, IE Prashanthi Nagar Kukatpally, Hyderabad - 500072.

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Smt. G Shanthi Krishna, S/o.G.Gopal Aged about Years, Occ: Business R/o. H. No.5/35/10/1/8, Ptot No.92 IE Prashanth Na9ar, Kukatpatly-500072.

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......Defendants

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Counsel for the Applicant : Mr. M. Srinivas Defendants : Ex-parteEx-parte

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: Ex-parteEx-parte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery of a total sum of Rs.1,01,46,774/- i.e., a sum of Rs.34,62,334/- towards Cash Credit A/c.No.2427267005325 with future interest @72.20o/o p.a., a sum of Rs.40,23,452l- towards Term Loan A/c. No. 2427766000074 with future interest @13.05% p.a. and a sum of

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f{'tt-

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OA.No.25l2025

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Rs.26,60,988/.towardsGECL-ILoanA/c.No.170002581581withfuture^{interest@9'5oo/o p afrom the defendants jointlyand} severally^{with future interest @ 18Vop afrom the date of} a00,,.",,""^{till the date of realisation alongwith costs'}

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paPer Publication^TheYwere

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1. Summons^{servedon D1 & 2 through} absent^{and no rePresentation'}

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set^{ex-parteon 10 07 2025as called}

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1. The ApPlicant^{Bank examinedMedi Vijay Sagar' SeniorManageras} AW-1^{and marked 32 documentsthroughhim as Ex A lto Ex'} A.32.

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Heard^{the Ld' Counsel for the Applicant Bank'Perusedthe 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 claim^{made in the OA against the}

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Defendants?

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As stated^{supra,the Defendants remainedex-parteThe Evidence} Affidavit^{coupledwiththe recitals in the documents viz ' Exs A l to} A.32^{marked on behalfof the Applicant Bank clinches the claim of} the^{Applicant Bank against the DefendantsHence' I holdthat the} Defendants^{are jointlyand severally liable to pay the OA claim to} tf,e^{eppticantBank with future interest and costs'}

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7.^{h the result,the present OriginalApplication No 2612025 ls allowed} as^{under: -}

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i)^{The Defendants are jointly and severally liableto pay to} the ApPlicant^{eanka totat sum of Rs.'1'O1'46'7741-i'e''} 4Y"o

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OA.No.2612025

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a sum of Rs.34,62,334/- towards Cash Credit A/c.No.2427261005325, a sum of Rs.40,23,4521towards Term Loan A/c. No. 2427766000074 and a sum of Rs.26,60,988/- towards GECL-I Loan A/c.No.170002581581; with future interest @10.20olo p.a. simple, from the date of application till the date of realization;

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

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iii) the applicant bank is entitled for the costs.

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B. The Applicant Bank is directed to file Cost Memo within 2^weeks from the date of receipt of this Order.

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Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the^parties concerned. (Dictated to the steno., transcribed by him, corrected, signed and^pronounced by meⁱⁿ the open court on this the 04th day of December,^2025).

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Kt"'$ ESHWAR KOTHE) PRESIDING OFFICER

M/S. Canara Bank v. M/S. Matrix Lab Tech

Case brief

What is this about?

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M/S. Canara Bank v. M/S. Matrix Lab Tech

Case brief

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