Allowed

Canara Bank v. M/s. Cvr Industries

DRT27 Nov 2025OA/639/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the Applicant Bank's original application for recovery of dues, principal, interest, and costs against defaulting defendants jointly and severally liable.

What did the court decide?

Defendants jointly and severally liable to pay sum of Rs.62,23,52g/- with interest; OA secured by hypothecation; bank entitled to proceed against persons/properties; recovery certificate issued.

Canara Bank versus M/s. Cvr Industries — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS^{RECOVERYTRIBUNAL-II AT HYDEMBAD} DATED THIS THE^{271H DAYOF NOVEMBER,2025}

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PRESENT: SH. MMESHWAR^{KOTHE,B.COM.,L.LB. (HONS.), M.A.} PRESIDING OFFICER

¶3

ORIGINAL APPLICATION No: 639^{OF 2025}

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Cana Soma D.No Lumb Nam Telan Rep.	ra Bank., .jigudaBranch-II .6-3-666,Ground Floor iniTowers, SomajigudaPost pallylvlandal,HyderabadDistrict gana-500082. byitsBranchManager. .....Applicant.
	Versus
1.	I4/s.CVRIndustries.,Proprietorship Representedby itsProprietor BasaChandra Mouli, S/o.BasaRamulu ResidentofPlotNo.745,Sy.No.242 SubhasuNagar,QuthbullapurMandal MedchallYalkajgiri District,Telangana-500055.
2.	Sri.BasaChandraMouli S/o,BasaRamulu,Residentof FlatNo.101, ShivParvathi Nilayam Subhasu Nagar,QuthubullapurlYandal Medchal I\4alkajgiriDistrict,Telangana-500055. ...Defendants
	Counselforthe Applicant :Mr.B.Sivakumar
	Defendants :Ex-parte
	::ORDER::
1.	TheApplicantBankfiled thepresentOAfor therecoveryatotal
	sumofRs.62,23,52A/-i.e.,asumofRs.53,93,026.31ps towardsOCC/ODBDandasumofRs.8,30,502.14psfromthe /fu

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oA.NO.639/202s

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defendants jointly and severally with future interest @10.75olo p.a. with monthly rests from the date of apptication ti 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. They were set ex-parte on 03.09.2025 as called absent and no representation.

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The Applicant Bank examined Kunal Tripatty, Chief Manager, as AW-1 and marked 32 documents through him as Ex. A.1 to Ex. A.32.

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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 entiued 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 Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.32 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.

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In the result, the present Original Application No.639/2025 is allowed as under: -

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ffi$*

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oA.NO.539/2025

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i)	TheDefendantsarejoinUy	andseverally
	liabletopaytotheApplicant	Bankasumof
	Rs.62,23,52g/_i.e., a	sumof
	Rs.53,93,026.31ps towardsO sumofRs.8,30,502.14pswith	CC/ODBDanda futureinterest
	@9.40olop.a.simplefrom	thedateof
	applicationtillthedateofreali	zation;
ii)	theOAclaimissecure	dbywayof
	hypothecationofassetsdes	cribedinthe
	scheduleannexedtothe	OAanclthe
	applicant bankisentiUedtop	roceed against
	thesametorealiseits 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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v. 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 27th Day of November, 2025).

¶22

ldww (F{AMESHWAR KOTHE) PRESIDING OFFICER

Canara Bank v. M/s. Cvr Industries

Case brief

What is this about?

What did the court decide?

Canara Bank v. M/s. Cvr Industries

Case brief

What is this about?

What did the court decide?

What the court decided

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