Allowed

M/S. Canara Bank v. M/S. Lucky Car World

DRT25 Jul 2025OA/607/2022

Case brief

AI extract

What is this about?

The DRT allowed the bank's original application for recovery. Holding that the defendants were jointly and severally liable based on the evidence affidavit and marked documents, the court ordered payment of the loan dues with interest and costs and directed issuance of a recovery certificate.

What did the court decide?

Defendants ordered to pay Rs. 65,24,012.03 with future interest and costs; Recovery Certificate issued; Entitlement to proceed against person and properties established.

M/S. Canara Bank versus M/S. Lucky Car World — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 25TH DAY OF JULY, 2025

¶2

PRESENT: SH. RAN1ESHWAR KOTHE, B.COM., L.LB. (HONS,), IY.A. PRESIDING OFFICER

¶3

ORIGINAL APPLICATION No: 607 OF 2022

¶4

lvl/s. Canara Ba n k., Narsingi Branch, D.No.2-77 / 3/Bl 2 Nea r Registration Orfice Narsingi Rajend ra naga r l4andal, Ranga Reddy District, Tela ngana - 500089. Rep. by its Senior Manager.

¶5

.....Applicant.

¶6

Versus

¶7

l4ls. Lucky Car World., Rep by its Proprietor [4r.Suresh Nayak Bhukya at Sy.No.161, Plot Nos.38 & 40 Brind havan Colony, Narsingi, Gandipet Hyderabad - 500075, Telangana.

¶8

Mr.Suresh Nayak Bhu kya S/o. Mr.Laxman Singh Bh ukya Aged lvlajor, Occ: Business, Proprietor Ivl/s. Lucky Car World, R/o.H.No.15-1-258 Kl.4C Compound, Warangal, Tela ngana - 506001.

¶9

... Defendants

¶10

Counsel for the Applicant : tY/s.N.Manohar Reddy

Defendants

: Ex-pa rte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.65,24,012.03ps as on 06.08.2022 i.e., a sum of Rs.39,30,396.03ps towards Term Loan-I A/c.No.170000578690 with future interest @11.10olo p.a., a sum of Rs.20,93,616/towards Term Loan-II A/c.No.17000157884 with future interest JArrn -,,, .<-

¶15

oA.NO.607/2022

¶16

@11.10o/o^{p.a. and a sum of Rs'5,00,000/-towardsCashCredit} Loan A/c. No.1250^{07225504 with future [email protected]/op a'} from the defendants^jointly and^{severallywith monthlyrests} from the date of appllcation^{till the date of realizationalong} with costs.

¶17

Summons sent to D1 and 2^{returnedwith endorsement} unclaimed(1) & Refused(2)^{hence, deemed to be served' They} were set ex-parte on 03.01.2023^{as called absentand no} representation.

¶18

The Applicant^{Bank examined Vedratna Kumar, Chief Manager,} as AW-1 and marked^{15 documentsthrough him as Ex. A.1 to} Ex. A.15.

¶19

4, Heard the Ld. Counsel for the^{Applicant Bank.Perused the} material^placed on record.

¶20

The point that arises for consideration^is:-

¶21

Whether the Applicant Bank^is entitled for the claim made in the OA against the Defendants?

¶22

As stated supra, the Defendants remained^{ex-parte. The} Evidence Affidavit coupled with the^{recitalsin the documents} viz., Exs. A.1 to A.15 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 Applicant^Bank with^{future interest} and costs.

¶23

In the result, the^present Origlnal AppLication No.607/2022^is alrowed as under: -

¶24

/Sat.uz

¶25

oA.NO.607/2022

¶26

i) The Defendants are joinUy and severally liable to pay to the Applicant Bank a total sum of Rs.65,24,012.03ps as on 06.0g.2022 i.e., a sum of Rs,39,30,396.03ps towards Term Loan-I A/c.No.17000057g690, a sum of Rs.20,93,616/- towards Term Loan_II

¶27

A/c.No.17000t57884 and a sum of Rs.5,00,000/- towards Cash Credit Loan A/c.No.12500L225504; with future interest @9,80o/o p.a, simple from the date of application till the date of realization;

¶28

ii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

¶29

iii) the applicant bank is entitled for the costs.

¶30

B. The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

¶31

Issue Recovery Certificate accordingly.

¶32

.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 25rh Day of July, 2025).

¶33

fi'1'lor-o ESHWAR KOTHE) PRESIDING OFFICER

M/S. Canara Bank v. M/S. Lucky Car World

Case brief

What is this about?

What did the court decide?

M/S. Canara Bank v. M/S. Lucky Car World

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Union Bank of India versus M/S. Milligram Laboratories

Central Bank of India versus Lachu Cement Bricks Unit

Union Bank of India versus Mr. Mohammed Tahir

Sri Vijaya Lakshmi versus Union Bank of India

Moru Pushpa versus Union Bank of India

M/S. Canara Bank versus M/S. Mamatha Dairy (Sole Proprietory Firm)