Allowed

Bank of Maharashtra v. M/S. Yadadri Agrofarms Private Limited

DRT23 Sept 2025OA/509/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal-II allowed an original application filed by Bank of Maharashtra for recovery of a loan amount. Holding defendants jointly and severally liable based on ex-parte evidence, the court directed payment of dues with interest, sale of mortgaged properties, and issuance of a recovery certificate.

What did the court decide?

Defendants to pay Rs.6,15,08,512/- plus future interest; OA proceeds against mortgaged properties; recovery certificate issued.

Bank of Maharashtra versus M/S. Yadadri Agrofarms Private… — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 23RD DAY OF SEPTEI4BER, 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: 509 0F 2025

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Bank of Maharashtra., Branch Office at Shop No.1 Ground Floor, Minerva Complex Kalasiguda, Secu nderabad - 500003. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s. Yadadri Agrofarms Private Limited., Rep its Directors, Kothapally Sai Kiran Kannareddy Shekar Reddy, Office at Plot No.344, Neha Constructions Road No.7, Kakatiya Hills, Madhapur Hyderabad - 500033.

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Kothapally Sai Kiran, S/o. K.Anjaneyulu Aged about 31Years, Occ:^Business Male, R/o.H.No.27^-76- tl/ t,^Ktu?a Complex, L B Nagar Colony,^{Neredmet-500056.}

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Also at:-

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Omce at Plot No.344,^{Neha Constructions} Road No.7, KakatiYa^{Hills, MadhaPur} Hyderabad - 500033.

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Kannareddy Shekar^Reddy S/o. Balaram^{Reddy, Aged about68 Years} Occ: Business,^{Male, R/o.H.No'1'39tlf /84} iaraswatni^{Nagar, NearSankeswara Temple} saidabad -^500059.

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Also at:-

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oftrc" ut^{PIot No 344, Neha Constructions} Road No.7,^{KakatiYa Hills, Madhap%} Hyderabad -^5Oo033. /AW.*> (-t/

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oA.NO.s09/202s

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Narsimlu Mudiraj, S/o.Kistaiah Mudiraj Aged about 70 Years, Occ: Business Mate, R/o. H. No.12-t-206, plot No.58 Near Community Hall, Bandlag uda Nagole, Hydera bad - 500068.

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... Defendants

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Counsel for the Applicant Defendants

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Ms. Tarangini Pisipati

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Ex- pa rte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.6,15,0B,StZ/_ as on 14.05.2025 towards Loan A/c. No.60455052635 from the defendants joinuy and severa y with future interest @14.OSyo p.a. with monthly rests from 74.05.2025 till the date of realization along with costs and in default for sale of OA schedule properties.

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Summons served on D1 to 4 through paper publication. They

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were set ex-parte on 22.0A.2025 as called absent and no

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representation.

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The Applicant Bank examined Vasant Kumar, Chief Manager, as AW-1 and marked 13 documents through him as Ex. A.1 to Ex. A.13.

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Heard the Ld. Counsel for the Applicant Bank. perused the material placed on record.

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The point that arises for consideration is:_

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Whether the Appticant Bank is entiued for the ctaim made in the On uguiii the Defendants and OA ,ri"iui" properties?

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oA.NO.509/202s

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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.13 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 Appllcant Bank with future interest and costs.

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In the result, the present Original Application No.509/2025 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.6,15,08,512/- towards Loan A/c. No. 60455052635; with future interest @9.35olo 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 descrlbed in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to reallse its debu

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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 appllcant bank is entitled for the costs.

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The Applicant Bank is directed to file Cost Memo within 2 weeks from thedateof receipt of thisotdet^Wi,\b

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OA.NO.5O9/2025

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9. Issue Recovery Certificate 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 23'd Day of September, 2025).

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(RAI4ESHWAR [/w.'$"KOTHE) PRESIDING OFFICER

Bank of Maharashtra v. M/S. Yadadri Agrofarms Private Limited

Case brief

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What did the court decide?

Bank of Maharashtra v. M/S. Yadadri Agrofarms Private Limited

Case brief

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