Allowed

City Union Bank Limited v. M/S. Sri Srinivasa Marketing

DRT20 Nov 2025OA/447/2025

Case brief

AI extract

What is this about?

DTT allowed an original application filed by the bank for recovery of dues totaling over Rs. 2.33 crores along with interest and costs against three defendants who remained ex-parte. The court held the defendants jointly liable. A recovery certificate was issued.

What did the court decide?

Directing defendants to be jointly and severally liable to pay the awarded sum with interest, allowing the bank to proceed against mortgaged properties and other assets, and issuing a recovery certifi

City Union Bank Limited versus M/S. Sri Srinivasa… — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD

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DATED THIS THE 2OTH DAY OF NOVEMBER, 2025 PRESENT: SH. RAMESHWAR KoTHE, B.com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLTCATION No: 447 OF 2O2S

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City Un ion Bank Ltd., Tirupathi Branch, Tirupathi. Rep. by its Branch tvlanager.

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.....Applicant.

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Versus

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M/s. Sri Srinivasa Marketing., Rep by its^partners

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Office at No.19-9-5-C2, SLy Buitdings Kakathiya Nagar, Tirupathi, A.p _ 571501.

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14r. A. Narendra, S/o. Sri.Rediah Age 52^years, Male

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R/o. D. No.19- 10- 19K, Tirumala Towers Near Indira Nagar, Tirupathi, A.p _ 571501.

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Mrs. Rajini, W/o.Mr. A. Narendra Age 39 Years, Female

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R/o. D. No.19- 10- 19K, Tirumala Towers Near Indira Nagar, Tirupathi, A.p _ 571501.

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. .. Defenda nts

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Counsel for the Applicant

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: lYls. Trivikram Ch itturu

Defendants

:Ex-parte

:: oRDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.2,33,85,775/- i.e., a sum of Rs.65,42,035/_ towards ECLGS Facility with future interest @9.25olo p.a. and a sum of Rs.7,68,43,7401 - towards OLC'" "'')?%rlf ure interest

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oa.No.447 /2025

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@72.25o/o^{p.a. from the defendantsjointly and severally with} monthly rests^{from the date of applicationtill the date of} realization along^{with costs and in default for sale of OA} schedule ProPerties.

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Summons^{servedon D1, whereas summons servedon D2 & 3} through^{paper publication.They were set ex-parte on} 13.08.2025^{as called absentand no representation'}

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S R Baskaran,^{Field Recovery}

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The ApPlicant^{Bank examined} 18 documents^{through hlmas}

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Manager, as^{AW-1and marked} Ex. A.1 to^{Ex. A.18.}

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Heard the Ld.^{Counselfor the} Applica nt Bank.^{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^{madein the OA against} the Defendants^{and OA schedule} proPerties?

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As stated supra,^{the Defendants remained ex-parte The} Evidence Affldavit^{coupledwith the recitalsin the documents} viz., Exs. A.1 to A.18^{markedon behalf of the Appllcant Bank} clinches the claim^{of the Applicant Bank against the Defendants'} Hence, I hold^{that the Defendants are jointlyand severallyllable} to^pay the OA^{claim to the Applicant Bank with futureinterest} and costs.

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In the result, the^{present Original} Application^{No.44712025 is} alowed as under: - /Y"U

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oA.NO.447l2O2S

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.2,33,85,775/- i.e., a sum of Rs.65,42,035/- towards ECLGS Facility and a sum of Rs.,68,43,7401- towards OLCC Facility; with future interest @8.5olo 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 properties 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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B. 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 Certificate according ly.

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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 20th Day of November, 2025).

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iflw-.e (/'/4^.-

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(MMESHWAR KOTHE) PRESIDING OFFICER

City Union Bank Limited v. M/S. Sri Srinivasa Marketing

Case brief

What is this about?

What did the court decide?

City Union Bank Limited v. M/S. Sri Srinivasa Marketing

Case brief

What is this about?

What did the court decide?

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