Allowed

Canara Bank v. M/S Mandala Yerriswami

DRT29 Jul 2025OA/624/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's original application for recovery of loans totaling Rs. 21,97,076.28 along with interest and costs against the joint and several liability of the two respondents, who appeared ex-parte.

What did the court decide?

Directing the respondents to jointly and severally pay Rs. 21,97,076.28 plus future interest at 9.95% p.a. and costs; allowing the bank to proceed against person and properties.

Canara Bank versus M/S Mandala Yerriswami — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRiBUNAL-I] AT HYDERABAD DATED THIS THE 29TH DAY OF JULY, 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: 624 OF 2024

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Canara Bank., Kalyandurg Branch, B/913 Hindupu r Road, chanta BLDGS :lanager,^{Ka lyandurg,Anantapur_ 515,261.} Kep Dy its Branch Head

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.....Appricant

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Versus

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I\4/s. 14a ndala yerriswami

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O/o. Sy. No.109-3, Viflampa i VI Hulikallu, Kalyandurg, Anantapur_515761.

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Mandala yerriswami, S/o. M.Thippanna l./?;.2 !6^{SC Cotony,Mallikarjunapai} Hulikal, Anantapur District _ 515763.

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. - . . . . Defenda nts

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Counsel for the Applicant

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M/s. P.Sai Chandrasekhar

Defendants

Ex-parte

:: oRDER ::

1 The Applicant Bank filed the present OA for the recovery of a sum of Rs.21,97 ,076.28ps i.e., a sum of Rs.4,61,853.28ps towards Term Loan A/c. No.1700057242L9, a sum of Rs.3,21,423l_ towards OD/OCC A/c. No.128001265579 and a sum of Rs.14,13,800/_ towards Term Loan A/c. No.182001449690 from the defendants jointly and severally with future interest @13.90olo p.a. with monthly rests from 04.77.2024 till the date of reatjgation along with costs. 0Y+'

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OA.No.624/202a

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Summons^{servedon D1 and 2' They were set ex-parte on} 03.07.2025^{as called absentand no representation'}

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The Applicant^{Bank examined NagendraBabu Challa'Senior} Manager^{as AW-1 and marked 07 documentsthrough him as Ex'} A.1 to^{Ex. A.7'}

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Heard the^{Ld. counser for the AppricantBank.perusedthe material} placed on^record'

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The^{point that arises for consideration is:-}

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Whether^{the Appticant Bank is entitled for} t'hte- claim^{*ud" i'the OA against the}

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Defendants?

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As stated^{supra, the Defendantsremained ex-parte' The Evidence} Affidavit^{coupledwith the recitals in the documents viz'' Exs' A'1 to} A.07 marked^{on behalf of the Applicant Bank clinches the claim of} the Applicant^{Bank againstthe Defendants'Hence' I hold that the} Defendants^{are jointly and severally liable to pay the OA claim io} the Applicant^{Bank with futureinterest and costs'}

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In the result,^{the present Original ApplicationNo'62412024is} 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'21,97,076'28ps i'e', a} sum of Rs'4,61,853.28ps^{towards TermLoan} A/c.No.170005!24219,^{a sum of Rs.3,21,423/- towards} OD/OCC A/c.No.128001265579^{and asum of} Rs.14,13,800/- towards Term^{Loan Alc.No.} 182001449680; with future^{[email protected] p.a.} H(>r

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OA.No.62412024

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simple, from the date of application till the date of rea lization;

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

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iii) the applicant bank is entiiled 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., transcribed by him, corrected, signed and pronounced by me in the open court on this the 29th day of July, 2OZS).

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PRESIDING OFFICER

Canara Bank v. M/S Mandala Yerriswami

Case brief

What is this about?

What did the court decide?

Canara Bank v. M/S Mandala Yerriswami

Case brief

What is this about?

What did the court decide?

What the court decided

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