Allowed

Canara Bank v. Sri Keesara Venkat Reddy

DRT6 Nov 2025OA/292/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the Original Application filed by Canara Bank for recovery of a defaulted agricultural loan and sale of mortgaged property against the defaulting borrower and guarantor.

What did the court decide?

Recovery order passed for Rs. 26,37,873/- with interest at 16.50% p.a.; recovery certificate issued; proceedings against mortgaged and other properties allowed.

Canara Bank versus Sri Keesara Venkat Reddy — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.I AT HYDERABAD

¶2

DATED THrS THE 6rH DAy OF NOVEMBER, 2025

¶3

PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

¶4

OA.No.292 ot 2O23

¶5

Between :

¶6

Canara Bank, Jangaon (Nawabpet) Branch, # 6-2-47 /B-3/ L, Balaji nagar, Hyderabad Road, Jangaon - 506 167 Telangana

¶7

Represented by its Senior Manager

¶8

Applicant

¶9

VERSUS

¶10

Sri Keesara Venkat Reddy, s/o Krishna Reddy, male, occ: agriculture, Kothapally village, Lingalaghanpur mandal, Jangaon district - 506 301.

¶11

Mr. Enegala Ranga Reddy, (Expired) s/o Matta Reddy, male, occ: agriculture, Kothapally village, Lingalaghanpur mandal, Jangaon district - 506 301.

¶12

Defendants

¶13

Counsel for the Parties:

¶14

For the Applicant : Sri T. Sasi Kumar For the Defendant Ng:rEr':--f--r-: : Exparte -i' ?^: '^I ' Defendant no.2 , '' ": '"".' ":^i., . ' .'^.:'r.." Abated i : r"'r \r;i' ,,:i 'ilt,,.. li , Reservedon, 0 n ilgy 1tr : *1i29.10'2025 Pronounced on^''i, : . ?',1'06.11.2025^{;,':06.11.2025} i -.: 07.tt.2025 Uploaded in websr'tQ.on, " -.r-1.' ':.^.'i :,,

¶15

(oA. No.292l2023)

¶16

ORDER

¶17

The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.26,37,873/- (Rupees Twenty Six Lakhs Thirty Seven Thousand Eight Hundred and Seventy Three only) with interest @ 16.50o/o p.a from date of application till the date of realization and in default for sale of mortgaged property as mentioned in the schedule to OA.

¶18

As per the averments in the application, the Applicant Bank states that defendant no.1 availed agricultural loan of Rs.4,90,000/- and executed Memorandum of Agreement for agricultural loans on 15.07.2010. The defendant no.2 stood as guarantor and deposited the guarantee agreement on 15.07.2010. The defendants deposited the title deeds of schedule property. Subsequently the defendant no.2 expired and the claim against Defendant no.2 is dismissed as abated. After availing the loan facilities, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NPA on 19.03.2018 and legal notice was issued on 24.08.2023. Inspite of several requests and demands, the defendants did not clear the

¶19

-' l:l-::::;-::::l " '' outstandinq. - Hence d.'. this OA..... i:..-. ,,g...:." ''ti -.. j ',jr\t'' u lln,b iiill :1g ri

¶20

(oA.No.292l2023)

¶21

.3. Defendant No.1 called absent and set exparte on 18.03.2024. Defendant no.2 expired and the claim against Defendant no.2 is dismissed as abated.

¶22

Sri S.M. Niranjana, Chief Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.16.

¶23

Heard the Ld, Counsel for the Applicant Bank.

¶24

The point that arise for consideration is whether the Applicant Bank is entitled for the claim made in the OA against the Defendants as prayed for?

¶25

Defendant No.1 remained exparte. Defendant no.2 expired and the claim against Defendant no.2 is dismissed as abated, To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited relevant documents as Ex.A1 to A.16. 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.

¶26

is allowed with costs, as under: The to the Applicant Bank a total sum of Six Lakhs Thirty Seven

¶27

(oA.No.292l2023)

¶28

Thousand Eight Hundred and Seventy Three only) with interest

¶29

@ 16.50o/o^p.a from date of application till the date of realization.

¶30

The Applicant Bank is entitled to proceed against the mortgaged property as mentioned in the schedule to OA towards realisation of the debt due.

¶31

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

¶32

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

¶33

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

¶34

Issue Recovery certificate accordingly.

¶35

Communicate a copy of the order to the parties concerned.

¶36

(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 6h day of Nov, 2025)

¶37

rq<br>o 6 ilot, zIE :)t
:kt@

¶38

sdl-

¶39

(c. GoPTCHAND) PRESIDING OFFICER

¶40

fi1 ,*%
-l"i:,$sJ:{;i'1'"

¶41

Canara Bank v. Sri Keesara Venkat Reddy

Case brief

What is this about?

What did the court decide?

Canara Bank v. Sri Keesara Venkat Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

All orders in this case

Similar cases

Srinivasa Enterprises and others versus Icici Bank Limited

Sharvani Industries versus Union Bank of India

Ksr Enterprises and others versus Icici Bank Limited

State Bank of India versus Mr. Dontalaboina Muthaiah

Maddileti Chikkapalli versus Hdfc Bank

M S Vivimed Labs Limited versus State Bank of India