Allowed

Canara Bank v. Sri. K. Bala Rami Reddy

DRT19 Dec 2025OA/550/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed Bank's original application for recovery of approximately Rs. 1.03 crore. Defendant was ex-parte. Court awarded principal amount, reduced adjusted interest, secured claim via mortgage, issued recovery certificate, and directed cost memo filing.

What did the court decide?

Defendant liable to pay Rs. 1.03,32,207 with future interest at 12.50% p.a.; claim secured by mortgage; recovery certificate issued; cost memo to be filed.

Canara Bank versus Sri. K. Bala Rami Reddy — DRT (2025) — LawSathi Research

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 19TH DAY OF DECEN,IBER, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.COM., L.LB. (HONS,), M.A. PRESIDlNG OFFICER

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ORIGINAL APPLICATION No: 550 OF 2025

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Canara Bank.,

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Adoni Branch 1, Adoni, Kurnool District. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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sri. K. Bala Rami Reddy, s/o, K. t4anikya Reddy, Aged about 40 Years, R/o. Pedda Gonehal Village, Holagunda lvlanda I Adoni, Kurnool District - 518308.

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Also at:-

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H.No.109, Aishwarya Nilaya, 5th Cross 2nd Phase, Manjunatha Nagara, Rajaji Nagara, Banga lore - 560010.

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Also at:-

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135, New Poto India Lab, [4arattalli Varatur Main Road, Near Ganesh Temple Bengalore - 560037.

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... Defenda nt

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Counsel for the Applicant : lv1/s.P.Naga Durga Prasad Defendant : Ex-parteEx-parte

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: Ex-parteEx-parte

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:: ORDER ::

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The Applicant Bank flled the present OA for the recovery a total sum of Rs.1,03,32,207/- from the defendant with future interest @18o/o p.a. with monthly rests from the date of application till the date of realization along,with costs and in default for sale of OA schedule propertieg.^{y'^a-}

\r'<sup>'r

oA.NO.ss0/202s

Summon served on sole defendant and was set ex-parte on 13.08.2025 as called absent and no representation.

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The Applicant Bank examined S. Ravi Kanth, Manager, as AW-1 and marked 30 documents through him as Ex.A.1 to Ex.A.30.

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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 Applicant Bank is entitled for the claim made in the OA against the Defendant and OA schedule properties?

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As stated supra, the Defendant remained ex-parte. The Evidence Affidavit coupled wtth the recitals in the documents viz., Exs.A.1 to A.30 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.550/2025 is allowed as under: -

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i) The Defendant is liabte to pay to the Applicant Bank a sum of Rs.f ,O3,3Z,2O7 /- with future interest @12.50o/o 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 ffio*

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oA.NO.s50/2025

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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 entiUed 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 19th Day of December, 2025).

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/ ,/CW.,,n, l-/ (RAMESHWAR KOTHE) PRESIDING OFFICER

Canara Bank v. Sri. K. Bala Rami Reddy

Case brief

What is this about?

What did the court decide?

Canara Bank v. Sri. K. Bala Rami Reddy

Case brief

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What did the court decide?

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