Allowed

Canara Bank v. M/S Scqadron Sports Wear

DRT23 Sept 2025OA/612/2025

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an original application filed by Canara Bank for recovery of Rs. 31,08,308.64 along with future interest and costs from the respondent. The respondent was absent, and the court, relying on the bank's evidence, held the respondent liable and devised proceedings against hypothecated assets.

What did the court decide?

Liable to pay Rs. 31,08,308.64 plus future interest at 10.90% p.a. and costs; entitled to proceed against hypothecated assets and properties; recovery certificate issued.

Canara Bank versus M/S Scqadron Sports Wear — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 23RD DAY OF SEPTEMBER, 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: 612 OF 2025

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Canara Bank., One of its Branch at SME Kukatpally. Rep. by its Manager.

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.....Applicant.

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Versus

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M/s. Scqadron Sports Wear., Rep by its Prop. Sri. Kokkula Rajesham H.No.14-47, 2nd Floor, Srinivasa Nagar Colony, Gajularamaram Road Ranga Reddy, Hyderabad - 500055.

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Also at:-

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5-6-91, Nehru Nagar, Gajularamaram Road, Shapur Nagar, Hyderabad-500055.

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... Defendant

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Counsel for the Applicant : M/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 filed the present OA for the recovery a total sum of Rs.31,08,308.64ps from the defendant with future interest @180/0 p.a. with monthly rests from the date of application till the date of realization along with costs and in default for sale of hypothecated assets.

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Summon served on sole defendant and was set ex-parte on 22.08.2025 as called absent and no re?tesentatbtyfu'-r#" r,_z^.t!1,

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oA.NO.612l202s

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The Applicant Bank examined Dhuligi Ranadheer, Manager, as AW-1 and marked 27 documents through him as Ex.A.l to Ex.A.27 .

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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 Appticant Bank is entitted for the claim made in the OA against the Defendant and OA hypothecated assets?

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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.27 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is liabte to pay the OA ctaim to the Applicant Bank with future interest and costs.

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In the result, the present Original Apptication No.612l2025 is allowed as under: -

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i) The Defendant is liable to pay to the Applicant Bank a sum of Rs.31,08,308.64ps with future interest @1O.9oyo p.a. simple from the date of apptication till the date of rea I iza tio n ;

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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 ffi*e

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oA.NO.612l2025

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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 entiued 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 UV r" l, the open court on this the 23'd Day of September, 2025).

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A*--, (L f.s"

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(M-MESHWAR KOTHE) PRESIDING OFFICER

Canara Bank v. M/S Scqadron Sports Wear

Case brief

What is this about?

What did the court decide?

Canara Bank v. M/S Scqadron Sports Wear

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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