Allowed

Canara Bank v. M/S Revathi Textiles

DRT3 Oct 2025OA/340/2025

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the Originating Application filed by Canara Bank against M/s. Revathi Textiles and proprietor seeking recovery of a debt term loan, OD, and GECL totaling approximately Rs. 1.95 crore with future interest. The court held that the bank established its claim through the documentary evidence and recovery certificate issuance.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 1,95,36,972.11 with future interest and costs; recovery certificate issued; proceedings permitted against mortgaged property and assets.

Canara Bank versus M/S Revathi Textiles — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 3RD DAy oF ocToBER | 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.34O ot 2O2S

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Between:

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Canara Bank, Hanumakonda - I branch, Warangal, Telangana State. Represented by its Chief Manager

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Applicant

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VERSUS

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M/s. Revathi Textiles,

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Represented by its proprietor, Smt Anandapu Revathi, plot no,79, Sy. No. 1 79l1, Madikonda textile Park, Madikonda (V), Kazipet (M) Warangal, TS- 506 142.

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Mrs. Anandapur Revathi, Wo Praveen Kumar, aged about 35 Years, R/o H.No.1-f07, lnugurthy Kesamudram, Warangal, TS: 506 112.

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Defendants

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Counsel for the parties:

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For the Applicant

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For the Defendants

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: Sri^p. Naga Durga prasad : Exparte

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ORDER

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The Applican nt OA against Defendants for ri'- -.:^{- --} aS):, '$ recovery &total {sl^of 95,36,872.11ps (Rupees One Crore N Six Thousand Eight Hundred fl^{tl's crF?osrh'Lt}

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W,*t$#

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(OA.No.340/202s)

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Seventy Two and paise Eteven only) (Term loan of Rs.1,45,88,250.12ps + OD of Rs.27,15,430.g6ps + GECL of Rs.3,05,963.7gps + GECL 1.0 of Rs.19,27,227.35ps ) with future interest @ 1go/o p'a with monthry rests from date of apprication ti, the date of realization and in default for sale of mortgaged property and hypothecated movables as mentioned in the schedule to OA.

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As per the averments in the application, the Applicant Bank states that defendant no.1 is a proprietary concern represented by its proprietor/ defendant no.2 availed term loan of Rs.92,50,000/, OD/OCC of Rs.7,50,000/- on 04.t2.201g. Later the OCC facility of Rs.7,50,000/ was enhanced to Rs.35.00 lakhs on 26.07.2023. The defendants deposited the tire deeds of schedure mentioned property in favour of appricant bank' The defendants arso hypothecated alr the movable assets as mentioned in the schedule to OA. After availing the loan facirities, the defendants faired to compry the terms of sanction, hence the appricant bank crassified the account as NpA on 2g.L2.2023 and demand notice was issued on OL.OL.2OZ4. Inspite of several requests and demands, the defendants did not crear the outstanding. Hence this OA.

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Defendan

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set exparte on 10.09.2025.

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tl3

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(oA.No.340/202s)

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4' Sri J, Nagaraju, chief manager of the Appricant Bank examined himserf as AW'1 and exhibited rerevant documents, which are marked as Ex.A.1to A.25.

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arise for consideration is whether the Applicant Bank is

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entitled for the claim made in the OA against the Defendants as prayed for?

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Defendants remained exparte. To substantiate the case of the Applicant Bank, AW.1, officiar of the Appricant Bank was examined and he exhibited rerevant documents as Ex.A1 to A.25. 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 Appricant Bank is entitled to recover the claim made in the oA with future interest and costs.

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B. In the result, the present OA is allowed with costs, as under: The Defendants are joinuy and severaily riabre to pay to the Appricant Bank a total sum of Rs.l,95,36,g72.ll-ps (Rupees One Crore Ninety Five Lakhs Thirty six Thousand Eight Hundred seventy Two and pa 'erm loan of Rs.1,45,88,250.12ps + OD of .B6ps + eeei'bf Rs.3,05,963.78ps + GECL 1.0 of i Rs.Lg,27,)27.35pF ) with future interbst @ 1go/o p.a with monthly rests from date of'application till the date of realization ;

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(OA.No.3a0l202s)

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

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The Applicant Bank is also entiUed to proceed against the person and

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properties of defendant No.2 and properties of defendant no.1 firm towards realization of the debt due.

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

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The Applicant shall file a cost memo within two weeks from the date

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of receipt of order.

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Issue Recovery certificate accordingly.

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Communicate a copy of the order to the parties concerned.

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(Dictated to the p A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 3d day of Oct, 2025)

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sdl(G. GOPTCHAND) PRESIDING OFFICER

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TRUE COPL
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Canara Bank v. M/S Revathi Textiles

Case brief

What is this about?

What did the court decide?

Canara Bank v. M/S Revathi Textiles

Case brief

What is this about?

What did the court decide?

What the court decided

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