Allowed

Bank of Baroda v. Mr. Sri Reddy Venkata Naga Prakash

DRT4 Dec 2025OA/423/2025

Case brief

AI extract

What is this about?

The Tribunal allowed the applicant bank's operating agreement seeking recovery of a term loan amounting to Rs. 35.86 lakhs with future interest. The respondent was non-present. The court relied on documents proved by the bank's witness to establish liability, permitting recovery of the principal, interest, and costs.

What did the court decide?

The defendant is liable to pay the applicant bank the outstanding sum of Rs. 35,86,568.93/-.

Bank of Baroda versus Mr. Sri Reddy Venkata Naga Prakash — Money Laundering | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL - IAT^HYDERABAD DATED THIS THE 4th DAY OF^{DECEMBER, 2025}

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PRESENT: SRI GUMMADT GOPICHAND,^{PRESIDING OFFICER}

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OA. No. 423 OF 2025

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Between^:

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Bank of Baroda, Malakpet Branch, 16121674161K, Opp. Yasoda HosPital, Malakpet, Hyderabad -^{500 036} Applicant Represented by^{its Chief Manager}

¶6

VERSUS

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Mr. Srireddy Venkata^{Naga Prakash,} S/o. Satyanarayana^{Murthy Srireddy,} R/o. H.No. 3-5-7lG-6A,^{Block B,} Rock Gardens, Marva^TownshiP, Near Bey Hills CommunitY, Narsingi, R.R. District -^{500 089.} Defendant

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Counsel for the Parties^:

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T.Ramesh Kumar^{& Associates} Exparte 03.12.2025 04.12.2025 04.12.2025

¶10

(oA. No. 422/2o2sl

¶11

ORDER

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The Applicant Bank filed the^present OA against Defendant^for recovery of a total sum of Rs.35,86,568.93/-.^(Rupees Thirty^Five Lakhs Eighty Six Thousand Five Hundred Sixty Eight^and Paise Ninety Three Only) with future^interest @^11.40%p.a with monthly rests from 04.09.2025 tillthe^{date of realizationand} in default for sale of Hypothecated Schedule^{Property as} mentioned in the Schedule to OA.

¶13

As per the averments in the application,^{the ApplicantBank states} that Defendant availed Term Loan of Rs.50.00^{Lakhs with interest} @13.90o/o^{p.a with monthlyrests repayablein 60 equated} monthly installments of Rs.1,17,3811-^{and executed Loan cum} Hypothecation cum Guarantee Agreement^{dated 31.03.2023in} favour of the applicant bank. After^{availing the loan facility, the} defendant failed to comply the terms^{of sanction, hence the} applicant bank classified the account^{as NPA and issuedLegal} Notice dated 18.08.2025. lnspite of^{several requestsand} demands, the defendant did^{not clear the outstanding'Hence this}

¶14

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¶15

(oA. No. 422l202s)

¶16

Sri. Ch. Ramesh Kumar, Chief^{Manager of the ApplicantBank} examined himself as AW.1 and^{exhibited relevantdocuments,} which are marked as^{Ex.A.1 to A.14.}

¶17

Heard the Ld. Counsel^{for the ApplicantBank'}

¶18

The point that arise for^{consideration is whether the Applicant} bank is entitled for^{the claim made in the OA againstthe} Defendant as PraYed^for?

¶19

Defendant remained^{exparte. To substantiatethe case of the} Applicant Bank, AW.1,^{official of the Applicant Bank was} examined and he exhibited^{relevant documentsas Ex'A'1 to} A.14. ln view of the^{above,I hold that the Applicant Bankhas} established their^{claim made in the oA against the Defendantand} hence the Applicant^{Bankis entitled to recover the claim made in} the OA with future^{interest and costs.}

¶20

ln the result, the^{presentOA is allowedwith costs, as under:}

¶21

The Defendant is^{liable to pay to the Applicant Bank a totalsum} of Rs.35,86,568.93/-.^{(RupeesThirty Five Lakhs EightySix} Thousand Five Hundred^{Sixty Eight and Paise Ninety Three} onrv};[email protected]%p.afrom04.09.2025tillthe

¶22

,'. date of{e:ilization. .' .-.^. .. 'i::' ')' t' ii^'" ii..., it'i: 0 4 f irj^rrx ''n^{i' ,,} 1^' ii ,r" ',':'' *ii."'- r',. il_., , : ' -.'.:-' . .--.:?''

¶23

¶24

(OA. No. 42212025)

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The Applicant Bank is entitled to^proceed against the Hypothecation of Commercial Vehicle mentioned in^the Schedule of Property to the OA towards^{realization of the debt} due.

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The Applicant Bank is also^{entitledto proceed against the person} and properties of defendant towards^{realization of the debtdue.}

¶27

That Applicant Bank is entitled^{to the costs of the OA.}

¶28

The Applicant shall file a cost^{memo within two weeks from the} date of receipt of order.

¶29

't3. lssue Recovery Certificate^accordingly.

¶30

Communicate a copy^{of the order to the parties concerned.}

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(Dictated to the P.A., transcribed by^{her, corrected, signedand pronounced by mein the opencourt on} this the 4th day of Dec,²⁰²⁵⁾

¶32

sd/(G. GOPICHAND) PRESIDING OFFICER

¶33

Bank of Baroda v. Mr. Sri Reddy Venkata Naga Prakash

Case brief

What is this about?

What did the court decide?

Bank of Baroda v. Mr. Sri Reddy Venkata Naga Prakash

Case brief

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What did the court decide?

What the court decided

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