Allowed

Karur Vysya Bank Limited v. M/S. Sree Sree Rama Industries

DRT14 Oct 2025OA/307/2025

Case brief

AI extract

What is this about?

In a debt recovery matter via Original Application, the tribunal disposed of the case in default. Finding the defendants' evidence affidavit and documents sufficient, the court held them jointly and severally liable to pay the owed sum plus interest and costs, allowing the OA and directing issuance of a recovery certificate.

What did the court decide?

Defendants ordered to pay Rs. 6,22,42,808.90 with future interest at 10.90% p.a.; OA confirmed against property and persons; Recovery Certificate issued.

Karur Vysya Bank Limited versus M/S. Sree Sree Rama Industries — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE 14TH DAY OF OCTOBER, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A.

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 307 OF 2025

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The Karur Vysya Bank Llmited., Adoni Branch, Kurnool.

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Rep. by its Authorized Signatory.

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.....Applica nt.

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Versus

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M/s. Sree Sree Rama Industries., Represented by its Partners Mr. P. Ravi Kumar, Mrs. P. Suvarna Survey No.180, Parvathapuram Road Adoni, Kurnool - 518301.

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Mr. P. Ravi Kumar

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S/o. Pothula Ramanjaneyulu

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Major, Occ: Business, H.No.HIG 33 APHB Colony, Adoni, Kurnool Dist - 518301.

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Mrs. P. Suvarna, W/o. Ravi Kumar P Major, Occ: Business, H.Na.HIG 33 APHB Colony, Adoni, Kurnool Dist - 518301.

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Mrs. P. Mangamma

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Wo.^{Poth ula Ramanjaneyulu} Major, Occ: Business, H.No.HIG 33 APHB Colony, Adoni, Kurnool Dist - 518301.

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l,lr. P. Ramanjaneyulu S/o. Pothula Anjaneyulu Major, Occ: Business, H.No.HIG 33 APHB Colony, Adoni, Kurnool Dist - 518301.

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...Defendants

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Counsel for the Applicant

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: M/s. Lanka Jagannadham

Defenda nts

: Ex_parte

oA.NO.307/202s

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.6,22l42,808.90ps from the defendants jointly and severally with future interest @10.90yo p.a. from the date of application till the date of realization along with costs and in default for sale of OA schedule properties.

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Summons served on D1 to 5. They were set ex-parte on 77.06.2025 as called absent and no representation.

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The Applicant Bank examined PNSV Chalapathi, Senior Manager, as AW-1 and marked 46 documents through him as Ex. A.1 to Ex. A.46.

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

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The point that arises for consideration is:-

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Whether the Applicant Bank is entitled 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 tn the documents viz., Exs. A.1 to A.46 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinuy and severally liable to^pay the OA claim to the App]ic?nt Bank with future interest and costs. /N^rt" i-.,

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oA.NO.307/2025

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In the result, the^present Original Application No.30712025^is allowed as under:^-

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a sum of Rs.6,22,42,808.90ps with future interest @10.90o/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^propertiesof 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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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^{pronouncedbyme in the open court on} this the 15th Day of October,^2025).

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OY,"'-@ (RAMESHWAR KOTHE) PRESIDING OFFICER

Karur Vysya Bank Limited v. M/S. Sree Sree Rama Industries

Case brief

What is this about?

What did the court decide?

Karur Vysya Bank Limited v. M/S. Sree Sree Rama Industries

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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