Allowed

Canara Bank v. Sri Akheel Khan

DRT13 Aug 2025OA/519/2024

Case brief

AI extract

What is this about?

In a debt recovery proceeding, the DRT allowed Canara Bank's application against Sri Akheel Khan for repayment of term loans and overdraft along with interest and costs since the defendant remained ex-parte.

What did the court decide?

Defendant liable to pay total dues of Rs. 58,82,617.36 with future interest; recovery certificate issued; costs awarded; deposit directed to be fixed within 2 weeks of receipt of order.

Canara Bank versus Sri Akheel Khan — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 13TH DAY OF AUGUST, 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: 519 OF 2024

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Canara Bank., (Erstwhile Syndicate Bank) Alwal Branch, Chittemma Bhavan Main Road, Alwal, Medchal-Malkajgiri District, Telangana - 500010. Rep. by its Authorised Signatory.

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.....Applicant

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Versus

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Sri. Akheel Khan Proprietor of M/s.Sleep Quite Mattresses And Furniture Industry, R/o. 16-9-406/A Old Malakpet, Hyderabad, Telangana-500036.

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Also at:-

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H.No.24-9r/59/6A, Sri Sai Colony, Opp Metro wholesale Supermarket, New Metro Station IDA Street #1, Uppal, Secunderabad Telangana - 500039.

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...... Defendant

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Counsel for the Applicant : M/s.Chavan & Associates Defendants : Ex-parte

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:: qLLEL ::

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The Applicant Bank filed the^present OA for the recovery of a total sum of Rs.58,82,617.36ps i.e., a sum of Rs.49,993.94Ps towards Term Loan A/c.No.30209160000029 with future interest @11.610lo p.a., a sum of Rs.74,82,769.70ps towards Term Loan A/c. No.30209450001025 with future interest @73.760/o^p.a., a sum

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ffiixe

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OA,No,519/2024

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of Rs.14,40,118.27ps towards Term Loan A/c. No.170001958851 with future interest @11.61olo p.a. and a sum of Rs.29,09,735.25ps towards Overdraft A/c. No.30201400000561 with future interest @12.11olo^p.a. from the defendant from the date of application till the date of realisation along with costs.

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Summon served on sole defendant through paper publication and was set ex-parte on 07.07.2025 as called absent and no representation.

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The Applicant Bank examined Balwanth Kumar, Legal Manager as AW-1 and marked 29 documents through him as Ex. A.1 to Ex. 4.29.

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Ld. Counsel for the Applicant Bank stated orders may be passed on 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 Defendant?

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As stated supra, the Defendant remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.29 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is 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 Application No.519/2024 is allowed as under: - lry^JD"'

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oA.No.519/2024

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i) The Defendant is liable to pay to the Applicant Bank a total sum of Rs.58,82,617.36ps i.e., a sum of Rs.49,993.94ps towards Term Loan A/c. No. 30209160000029, a sum of Rs.L4,82,769.70ps towards Term Loan A/c. No.30209450001025, a sum of Rs.14,40,718.27ps towards Term Loan A/c. No. 170001958851 and a sum of Rs.29,09,735.25ps towards overdraft A/c.No.30201400000561; with future interest @7.90% p.a. simple, from the date of application till the date of realization;

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ii) the applicant bank is also entitled to proceed against the person and properties of the defendant for rea lization of its dues;

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iii) 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 Certificate accord ing ly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno., transcribed by him, corrected, si8ned and pronounced by me in the open court on this the 131h day ofAugust,2O25).

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Canara Bank v. Sri Akheel Khan

Case brief

What is this about?

What did the court decide?

Canara Bank v. Sri Akheel Khan

Case brief

What is this about?

What did the court decide?

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