Allowed

Karnataka Bank Limited v. M/S. Biogene Seed Sciences Private Limited

DRT7 Aug 2025OA/311/2025

Case brief

AI extract

What is this about?

The Tribunal allowed the Bank's application against defendants who appeared ex parte. Relying on the evidence affidavit and marked documents, it held defendants jointly and severally liable to repay the debt, with interest and costs.

What did the court decide?

Defendants jointly and severally liable to pay Rs.2,04,46,850.35 plus future interest; OA claim secured by mortgage properties; entitlement to realize dues against persons and properties; costs awarde

Karnataka Bank Limited versus M/S. Biogene Seed Sciences… — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TR]BUNAL-]I AT HYDERABAD DATED THIS THE OTTH DAY OF AUGUST, 2025 PRESENT: SH, RAMESHWAR(oTHE, B.Com., L.LB, (HonS. ) . M,A. PRESIDING OFFICER^{'--,' IVII)''}

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ORIGINAL APPLICATION No: 311 OF 2O2S

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Karnataka Bank Ltd.. Plot No.70, Shiva Ganqa Colonv :I: I"99.^{LB Nasar, Hyderab;d_sooo74.} Kep. by its General power of Attorney Holder.

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... ..Applicant.

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Versus

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M/s. ^Bjogene^{Seed Sciencespvt.Ltd.,}

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Reg Office at ptot No.28 to 31 :l?i^{No..s01,5rh Ftoor, Mytri sri vishnu} Fnyam Apartment, yadav Nagar Atkapuri, Hyderabad _ 500035 Ran9a Reddy District, Telangana State.

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Mr. Cheruku Devender S/o.. Cheruku Upendram, Aged about 99^{y9u.r,Occ:Business,nlo.n.uo.} tO-L4t/2, ptot No.45, cayathri Homes, Jillelguda, Saroor Nagar t4andal lYegrpet,^{KV RangaReddy Drstrict} Hyderabad _ 500097.

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II:91:.rlr_gheeraj, S/o. Cheruku Devender A9e0 about 34 years, Occ: Business I11!:N?:.i9-1+t^{/2, Ptot No.45, cavathri} Homes, lillelguda, Saroor Nagar Mandal Meerpet, KV Ranga Reddy District Hyderabad - 500097.

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Smt. Cheruku Narmada, W/o.Cheruku Devender, Aged about 54 years Occ: Business, R/o. H. No.1O_ 14112 Plot No.45, Gayathri Homes, Jiltetguda :ar99rlagar^{r'tandat, Meerpet,Kv Ranga} Reddy District, Hyderabad _ 5ooo97.^-

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oA.NO.31u202s

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'1;#;5i,":";:+rl**lf'.

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...Defendants

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: M/s.^N'Rama Rao Counsel^{for the APPlicant} : Ex-Parte Defendants

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The sum^Applicant of^{Rs.2,04,46'850'35ps Bank filed the present from the OA for defendants the recovery jointly a totaland} severally^{with future interest @1238o/o p'a' at monthlyrests} from the^{date of apPlicationtlll the date of realizationalong} *nn ."r,.^{and in default for saleof OA scheduleproperties'}

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summons^{servedon D1 tO 5' They were set ex-parte on} 07.O7j2025^{as called absentand no representation'}

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The *unun"r, Applicant^{as Aw-1 Bank and marked examined 32 D L documents Narayana' through Asst' Branchhimas} Ex. A.1^{to Ex' A'32'}

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Heard^{the Ld Counselfor the Applicanl gu6k' psru5qd the} material Placed^{on record'}

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The^{point that arises for considerationis:-}

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Bank^{is entitled} Whether^{the APPlicant} the OA^against for the^{claim madein} OA^schedule the Defendants^and properties? fuo.*

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oA.NO.311/202s

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.32 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.311/2025 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.2,04,46,850.35ps with future interest @9.91olo^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 properties of 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 lvlemo within 2 weeks from the date of receipt of this Order.

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oA.NO.31u202s

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9. Issue Recovery^{Certificate accordingly'}

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Communicate^{a copy of this order to the parties concerned'} (oia,rtaa to the steno,^{corrected,signedand pronouncedbyme in the open court on} this the 07th^{DaYof August, 2025)'}

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ESHWAR^KOTHE) PRESIDING^OFFICER

Karnataka Bank Limited v. M/S. Biogene Seed Sciences Private Limited

Case brief

What is this about?

What did the court decide?

Karnataka Bank Limited v. M/S. Biogene Seed Sciences Private Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

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