Allowed

Union Bank of India v. M/S. S v Garment Machinery

DRT20 Nov 2025OA/521/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's original application for recovery of a debt of Rs. 58,13,308.95 from individual and corporate defendants who remained absent. The court held the defendants jointly and separately liable for the principal, future interest, costs, and realization from hypothecated assets. A recovery certificate was issued.

What did the court decide?

Defendants to pay Rs.58,13,308.95 with future interest at 11.20% p.a. from date of application till realization; bank entitled to proceed against hypothecated assets and other properties for realizati

Union Bank of India versus M/S. S v Garment Machinery — Company and Corporate | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 2OTH DAY OF NOVEMBER, 2025

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PRESENT: SH. RAMESHWAR KoTHE, B.Com., L,LB. (HonS.), M.A. PRESIDING OFFlCER

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ORIGINAL APPLICATION No: 521 OF 2024

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Union Bank of India., Bala nagar Bra nch, Technocrat Industrial Estate, Balanagar, Hyderabad _ 5OOO37. Rep. by its Authorized Signatory. .....Appticant.

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Versus

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lY/s. S. V. Garment tvtachinery., Rep by its^partners, A- 1/5, SVCIE, Opp IDPL Factory, Balanagar, Above Bludart Couriers Hyderabad - 500037.

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Also at:-

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Plot No.2618, S V C I E, Balanagar, Hyderabad.

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Also at:-

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D.No.6-113/1, Ground Floor, lvlain Road Vepagunta, Visakhapatnam - S3OO47.

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Mr. K. R. Vijaya Kumar pi at S/o. 14r. Late Raghavan pillai Age Major, Gender Male, C-2 Neelam Apartment, Ferozg uda Balanagar, Hyderabad - 50003 7.

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I\4r. M. Sasi Kumar S/o. Mr. Madhavan Un n jttan Age Major, Gender Male

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H.No. 1-10-151, Dayanand

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Chinta I Basti, Kamsari Bazar

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New Bowenpally, Secunderabad _ 5OOO37. ...Defendants

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Counsel for the Applicant : Mr. Alluri Krishnam Raju

Defenda nts

: Ex-parte o%*

oA.NO.s21l2024

:: SLLLE ::

The Applicant Bank^{filed the present OA for the recoverya total} sum of Rs.58,13,308.95ps^{as on 11.10.2024 from the} defendants^{jointlyand severallywith future interest @12500/o} p.a. with monthly rests^{ftom12.10.2024 till the date of} realizatlon along^{with costs and in default for sale of} hypothecated assets.

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Summons^{served on D1 to 3 through paper publicationThey} were set ex-parte^{on 24.07} '2025^{as calledabsent and no} representation.

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The^{Applicant Bank examinedMohammedAshraf'Legal} Manager, as Aw-1^{and marked 25 documentsthrough him as} Ex. A.1 to^{Ex. A'25.}

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Heard the Ld.^{Counselfor the Applicant Bank Perusedthe} 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 hYpothecated} assets?

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As stated suPra,^{the Defendants remained ex-parte'The} Evidence Affidavit^{coupledwith the recitals in the documents} viz., Exs. A.1^{to A.25 marked on behalf of the Applicant Bank} clinches the^{claim of the Applicant Bank against the Defendants'} Hence, I^{hold that the Defendants are jointlyand severallyliable} to^pay the^{OA claim to the ApplicantBaqk- with futureinterest} ,/,/l\fi , .a

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and costs. (// --rot-'

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oA.NO.s2u2024

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In the result, the present Original Application No.52t/2024 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.58,13,308.95ps with future interest @11.20olo^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 hypothecation of assets 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 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 20th Day of November,^2025).

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(dx"n

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(RAl(iESHWAR KOTHE) PRESIDING OFFICER

Union Bank of India v. M/S. S v Garment Machinery

Case brief

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Union Bank of India v. M/S. S v Garment Machinery

Case brief

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