Allowed

Canara Bank v. Akshay Singh

DRT25 Sept 2025OA/375/2025

Case brief

AI extract

What is this about?

In Original Application No. 375 of 2025, the Debts Recovery Tribunal allowed the Bank's claim against two defendants for a housing loan facility sum of Rs. 48,76,466/- with interest, declaring defendants jointly and severally liable and entitling the Bank to proceed against mortgaged property and defendant assets.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 48,76,466/- with future interest; Bank entitled to proceed against secured property and defendant assets; Recovery Certificate to be issued.

Canara Bank versus Akshay Singh — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-]I AT HYDERABAD

¶2

DATED THIS THE 25TH DAY OF SEPTEMBER, 2025

¶3

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

¶4

PRESIDING OFFICER

¶5

ORIGINAL APPL]CATION No: 375 0F 2025

¶6

Canara Bank.,

¶7

Shaikpet Branch, Hydera bad. Rep. by its Authorized Signatory.

¶8

. ....Appllca nt.

¶9

Versus

¶10

T. Akshay Singh, S/o.Shailesh Singh Aged Major, Occ: Private Employee H.No.20-2-317, Ek Khana lvlasjed Hussain i Alam, Bahadurpura Hyderabad - 500064.

¶11

Also at:-

¶12

Senior Software Developer Birla Soft, Plot No.35 & 36 Rajiv Gandhi Infoteck Park Phase I, MIDC Hinjawadi Pune - 411057.

¶13

I4/s. Beccun Infrastructurers Limited Represented by its Managing Director Registered Office Situated at 102 Model House, Punjagutta, Hyderabad-500082.

¶14

...Defendants

¶15

Counsel for the Applicant : M/s. Dishit Bhattacharjee

Defendants

:Ex-parte

:: ORDER ::

The Applicant Bank filed the^present OA for the recovery a total sum of Rs.48,76,466/- towards Housing Loan Facilitv from the M,#

¶20

oA.NO.375l2025

¶21

defendants^jointly and severally with future interest @11.05o/o p.a. compounded with monthly rests from 01.04.2025 till the date of realization along with costs and in default for sale of OA sched ule property.

¶22

Summons served on D1 through paper^publication, whereas summons served on D2. They were set ex-parte on 37.07 -2025 as called absent and no representation.

¶23

The Applicant Bank examined Banavath Lalaji, Senior Manager, as AW-1 and marked 10 documents through him as Ex. A.1 to Ex. A.10.

¶24

Ld. Counsel for the Applicant Bank reported orders may be passed through merits. Perused the material placed on record.

¶25

The point that arises for consideration is:-

¶26

Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA schedule property?

¶27

As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.l to A.10 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.

¶28

In the result, the present OJiginal Application No.37512025 is /x^y,,of

¶29

allowed as under: - //^()/ "q'

¶30

oA.NO.37sl2025

¶31

i) The Defendants are^jointly and severally Iiable to pay to the Applicant Bank a sum of Rs.48,76,4661- towards Housing Loan Facility with future interest @9.05o/o^p.a. simple from the date of application till the date of rea lization;

¶32

ii) the OA claim is secured by way of mortgage of^property described in the schedule annexed to the OA and the applicant^bankis entitled to proceed against the same to realise its debt;

¶33

iii) the applicant bank is also entitled to^proceed against the^person and^{properties of} defendants for reallzation of its dues;

¶34

iv) the applicant bank is entitled for the costs.

¶35

The Applicant Bank is directed to^file Cost^{Memo within2 weeks} from the date of receipt of this Order.

¶36

lssue Recovery Certiflcate according^ly.

¶37

Communicate a copy of this order^{to the parties concerned.} (Dictated to the steno, corrected, signed and^pronouncedby me in the open^{court on} this the 25rh Day of^{September, 2025).}

¶38

Yo*rn5 (RAMESHWAR KOTHE) PRESIDING OFFICER

Canara Bank v. Akshay Singh

Case brief

What is this about?

What did the court decide?

Canara Bank v. Akshay Singh

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

Similar cases

M/S. Hdfc Bank Ltd. versus Mr. B Rajaiah

Kothamidde Venkataramana versus Hdfc Bank

Kalla Rajeshwari versus South Indian Bank

Canara Bank versus K. Kranthi Kumar Reddy Masu

Bank of India versus M/S. Suvidha Petrochemicals Private Limited

State Bank of India versus Muneeswara Traders