The Debts Recovery Tribunal allowed the originating application filed by Canara Bank for recovery of a loan amount of Rs. 1,74,49,419.59 with future interest and costs against the defendants.
Defendants jointly and severally liable to pay Rs. 1,74,49,419.59 with future interest; Recovery Certificate issued.
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IN THE DEBTS RECOVERY TRIBUNAL _ I AT HYDERABAD DATED THIS THE 12Ih DAY OF DECEMBER, 2025 PRESENT: SRI GUMMAD! cOptCHAND, pREStDtNG OFFTCER
OA. No. 334 OF 2025
Between :
Canara Bank,
Suryapet Main Branch, H.No.4-81, Alankar Talkies Road, Market Street, Suryapet, - 50g 213. Represented by its Power of Attorney
Applicant
VERSUS
- M/s. Sri Rama Agro lndustries, Rep. by its Proprietor, Gande Chandra Shekar, Sy. No. 155lEE3t1 t1 t2t1t1, 155tEE3t1t1t2t1t1, Kuda Village, Suryapet- 508 213.
Also at -
H.no. 1-4-29211, Market Road, Suryapet- 508 213.
(OA. No. 334/202s)
Counsel for the parties :
For The Applicant AlluriKrishnam Raju For the Defendant Exparte Reserved on 11.12.2025 Pronounced on 12.12.2025 Upload in website on 12.12.2025
ORDER
1' The Appricant Bank fired the present oA against Defendants No. 1 and 2 for recovery of a total sum of Rs.1,74,4g,41g.59 ps. (Rupees One Crores Seventy Four Lakhs Forty Eight Thousand Four Hundred Eighteen and paise Fifty Nine onry) with future interesr @ 11.250/o p.a with monthry rests from 16'07'2025 ti, the date of rearization and in defaurt for sare of Hypothecated Movables and Mortgaged properties as mentioned in the Schedules A and B to OA.
(oA. No. 334/202s)
together with interest @9.25 % p.a with monthly rests and executed Common Hypothecation Agreement dated 21 .07.202g in favor of the Appricant Bank. The defendant no. 2 created Equitable Mortgage morefuily mentioned in schedure B to the OA and executed Memorandum of Deposit of Tifle deeds dated 30.06.2023 and deposited Original Sale deed in favor of the Applicant Bank. The Defendants renewed the above mentioned credit facirities from time to time. After avairing the roan facirity, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NpA on 01.04.2025 and issued Demand Notice dated 02.04.2025 to the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.
Defendants called absent and set exparte on 17.11.2025.
Sri. Durgarao Shivaratri, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.19.
b. The point that arise for consideration is whether the Applicant bank i the claim made in the OA against the 12 lEC ?ffr *
(OA. No. 334/202s)
7' Defendants and remained exparte. To substantiate the case of the Appticant Bank, AW.1, officiat of the Applicant Bank was examined and he exhibited relevant documents as Ex.A.1 to A.19. ln view of the above, I hold that the Applicant Bank has estabrished their craim made in the oA against the Defendants and hence the Appricant Bank is entifled to recover the craim made in the OA with future interest and costs.
The Defendants No. 1 and 2 are joinfly and severally liable to pay to the Applicant Bank a total sum of Rs.1,74,4g,41g.59 ps. (Rupees One Crores Seventyr Four Lakhs Forty Eight Thousand Four Hundred Eighteen and paise Fifty Nine only) with future interest @ 11.2s% p.a from 16.07.2025 tifl the date of realization
12 l/E|-
(oA. No. 33al202s)
(Dictated to the P.A., transcribed by her, corrected, sjgned and pronounced by me in the open court on this the'12h day of Dec, 2025)
sd/-
(G. GOPTCHAND) PRESIDING OFFICER
1 issue framed by the court
Whether the applicant bank is entitled to recover the claim amount made in the originating application against the defendants.
Canara Bank
M/s. Sri Rama Agro Industries
Gande Chandra Shekar
G. Goptchhand
As recorded by the court registry
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