Allowed

Canara Bank v. M/S. Shree Jslv Infra Pvt. Limited

DRT25 Jun 2025OA/398/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the Original Application filed by Canara Bank for recovery of Rs. 1.20 crores plus interest and costs against defendants appearing ex-parte, dealing with the security property. The bank was directed to file a cost memo and issue a Recovery Certificate.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 1,20,07,400.47 with future interest; OA claim secured by mortgage; bank entitled to proceed against persons and properties for realization; costs awa

Canara Bank versus M/S. Shree Jslv Infra Pvt. Limited — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-]I AT HYDERABAD

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DATED THIS THE 25TH DAY OF JUNE, 2025

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

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ORIGINAL APPLICATION No: 398 OF 2024

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Canara Bank., H. No.8-2-541, Road No.9, Vimal Nagar, Zahara Nagar, Banjara Hllls, Hyderabad, Telangana - 500034. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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lY/s.Shree ISLV Infra Pvt. Ltd., Flat No.204, Ka lya ni Habitat, Plot No.468, Phase 3, Road No.87, Hyderabad, Telanga na - 500033. Rep by its Managing Director.

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lvlohammad Shuja udd in, S/o. Bahaudd n Mohammed, Age Major, Occ: Business, R/o. H. No.11-55-334/D, Red Hills, Hyderabad, Tela nga na - 500004.

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Kakarla Shami, D/o.Ravindra Babu, R/o.2, East Veeraya Palem, Darsi lvla nda l, Prakasam District, Andhra Pradesh - 523252. ...Defendants

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Counsel for the Applicant : Chavan & Associates Law Firm Defendants : Ex- parte

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::^qLLE& ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,20,07,400.47ps as on 30.06.2024 from the ,r\rs (.r,e , - }.rr..,,

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oA.NO.398/2024

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defendants^jointly and severally with future interest @11.50o/o p.a. from the date of application till the date of realization along with costs and in default for sale of OA schedule^property.

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Summons served on D2 and 3 and was set ex-parte on 74.10.2024 as called absent and no representation and summons served on D1 through paper publication and was set ex-parte on 21.04.2025 as called absent and no representation.

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The Applicant Bank examined P.Shashi Bhushan, Senior Manager, as AW-1 and marked 27 documents through him as Ex. A.1 to Ex. A.27.

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Ld. Counsel for the Applicant Bank reported orders may be passed through merits. 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 property?

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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.27 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 Alplication No.398/2024 is allowed as under: - OYtO"

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oA.NO.398/2024

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.1,20,07,400.41ps as on 30.06.2024 with future interest @11.05o/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 property 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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The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certifi cate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 2sth Day oflune,2025).

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PRESIDING OFFICER

Canara Bank v. M/S. Shree Jslv Infra Pvt. Limited

Case brief

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Canara Bank v. M/S. Shree Jslv Infra Pvt. Limited

Case brief

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