Allowed

Union Bank of India v. M/S Praneeth Fabrications

DRT23 Sept 2025OA/625/2024

Case brief

AI extract

What is this about?

In an Original Application for debt recovery, the court examined documents marked by the applicant bank. Finding the defendants ex-parte and the evidence conclusive, the court allowed the claim for recovery of the principal amount with future interest and granted permission to proceed against hypothecated assets.

What did the court decide?

Defendants to pay Rs.37,14,555.33 with future interest at 9.05% p.a.; applicant bank entitled to proceed against hypothecated assets and defendants' properties; costs awarded.

Union Bank of India versus M/S Praneeth Fabrications — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE 23RO DAY OF SEPTEMBER, 2025

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PRESENT: SH. RAIYESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A.

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 625 OF 2024

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Union Bank of India., Branch at Chandanagar, Hyderabad. Rep. by its Authorized Signatory. .....Applicant.

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Versus

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M/s. Praneeth Fabrications., Prop: Sri Bommala Babu Plot No.168, Sy.No. 447, Bowrampet Dundigal, Medchal Malkajgiri Dist-500043.

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Sri Bommala Babu Prop: M/s. Praneeth Fabrications S/o.Shri Bommala Laxman Major, Aged Years, Plot No.168 Sy.No.447, Bowrampet, Dundigal Medchal Malkajgiri Dist - 500043.

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Also at:H.No.15 20, Laxmidevi Palli ...Defendants Narayanraopet, Medak - 502107.

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Counsel for the Applicant : M/s. P.Balaji Defendants : Ex-parte

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:: (LLLE& ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.37,14,555.33ps from the defendants^jointly and severally with future interest @13.5070^p.a. With monthly rests ffio"*

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oA.NO.625l2024

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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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Summons served on D1 and 2 through paper publication. They were set ex-parte on 27.06.2025 as called absent and no representation.

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The Applicant Bank examined Venkatesh Dommeti, Branch Head, as AW-1 and marked 13 documents through him as Ex. A.1 to Ex. A. 13.

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Ld. Counsel for the Applicant Bank reported orders may be passed through merits. 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 Defendants and OA hypothecated assets?

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As stated supra, the Defendants remained ex-parte. The Evidence Amdavit coupled with the recitals in the documents viz., Exs. A.1 to A.13 marked on behalf of the Applicant Bank clinches the claim of the Appllcant 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.

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In the result, the present Original Application No.62512024 is allowed as under: -

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i) The Defendants are jointly and severally riable to pay to tne noorica)ffff :;rn " 1/<.r"',

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oA.NO.625/2024

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Rs.37,14,555.33ps with future^lnterest @9.05%^p.a. simPle^{from the dateof} appllcation 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^propertiesof defendants for realization of^{its dues;}

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iv) the applicant bank^{ls entitledfor the costs.}

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The Applicant Bank is directed to^{file Cost Memo within2 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^{23'd Day} ofSeptember,^2025).

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Union Bank of India v. M/S Praneeth Fabrications

Case brief

What is this about?

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Union Bank of India v. M/S Praneeth Fabrications

Case brief

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