Debt Recovery Tribunal allowed an Original Application filed by Canara Bank against M/s. Shiva Traders and Mr. ThummaSrikanth for recovery of loan dues aggregating Rs.29.60 lakhs along with interest and hypothecated movables.
Recovery of Rs.29,69,520.93 with interest, costs, and authorisation to proceed against hypothecated movables and properties.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE 13TH DAY OF FEBRUARY,2025
PRESENT! SRI GUMMADI GoPICHAND, PRESIDING oFFICER
OA.No.4l4 of 2O24
Between:
Canara Bank, Branch office at RajannaSircilla, 12-9-22, old bus stand road, Sircilla - 503 301. RajannaSircilladist, Telangana Represented by its Chief Manager
Applicant
VERSUS
Also at:
R/o H.No.10-t-L2-L3,
Ganesh nagar, Sircilla - 5OS 301.
Also at:
R/o H.No.10-I-t2-13, Ganesh nagar, Sircilla - 505 301.
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Counsel for theparties:
For the Applicant
For the Defendants
Smt Tarangini Pisipati Expa rte
(O A.No.41,4/2024)
ORDER
a) A sum of Rs.9,61,547.31ps under Loan
Alc'No.4170261000020with interest @ 13.250lo p.a with monthry rests from 0L.Lt.2024 till the date of realization ;
b) A sum of Rs.20,06,973.62ps under Loan a/c.No.170005986757with interest @ 14.2Oo/o p.a with monthty rests from 0tJ12024 till the date of realization ;
and in defaurt for sare of Hypothecated movabres as described in the schedule "A" to OA.
(OA.No.a7a/2024)
cash credit agreement, agreement cum deed of hypothecation dated 09.09.2022 in favour of Applicant Bank. After availing the loan facilities, the defendants failed to comply the terms of sanction, hence the applicant bank was constrained to crassify the account as NPA on 04.03.2024 and issued recall notice dated t6.10.2024. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.
",i'ffi0 glqDerendanrs and hence the Appticant Bank
" 'r1,T Pftiml.r,
(oA.No.474/20241
is entitled to recover the craim made in the oA with future interest and costs.
movables as described in the realization of the debt due.
and properties of defendant no.1 of the debt due.
(oA. No.a1al202a)
sdl(G. GOPTCHAND) PRESIDING OFFICER
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1 issue framed by the court
Whether the Applicant Bank is entitled to recover the claim made in the OA against the Defendants?
Canara Bank
M/s. Shiva Traders
Mr. ThummaSrikanth
GummaDi GoPiCHANd
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
