Allowed

Union Bank of India v. M/S. Nivansh Modulars

DRT15 Sept 2025OA/65/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by Union Bank of India for recovery of dues. Relying on evidence and defendant absences, the Presiding Officer held defendants jointly liable and allowed recovery from hypothecated assets.

What did the court decide?

Defendants jointly liable to pay Rs. 25,96,666/- with interest; OA claim secured by hypothecated assets; bank entitled against person and properties; Recovery Certificate issued.

Union Bank of India versus M/S. Nivansh Modulars — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 1sTH DAY OF SEPTEMBER, 2025

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

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 65 OF 2025

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Union Bank of India., Vanasthalipu ra m Branch D.No. C175 & 176, Main Road Vanasthallpu ra m, Hyderabad Tela nga na - 500070. Rep. by its Chief Manager.

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.. ... Applicant.

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Versus

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M/s. Nivansh Modulars.,

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Rep by its Prop. Sri Kethavath Chandu Aged about 23 Years, Occ: Business Situated at H. No.24190- 13/ 14, Sri Sai Colony, Laxmi Nagar Colony

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Road No.5, Uppal, Hyderabad - 500039.

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Sri Kethavath Chandu, S/o.Sri Chinya

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Aged about 23 Years, Occ: Business

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R/o. H. No.24190- 13/1A, Srl

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Sai Colony, Laxmi Nagar Colony

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Road No.5, Uppal, Hyderabad - 500039.

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...Defendants

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Counsel for the Applicant : M/s.S.Shekhar Reddy

Defendants

: Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.25,96,666/- frcm the defendants jointly and severally with future interest @13.70olo p.a. from tDe date of ffi*""

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oA.NO.65/202s

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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 & D2 through paper publication. They were set ex-parte on 02.05.2025 as called absent and no representation.

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The Applicant Bank examined S.Srinivas Rao, Chief Manager, as AW-1 and marked 11 documents through him as Ex. A.1 to Ex. A.11.

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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 assets2

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As stated supra, the Defendants remained ex-parte. The Evidence Affldavit coupled with the recitals in the documents viz., Exs. A.1 to A.11 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.65/2025 is allowed as under: -

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i) The Defendants are^jointly and severally tiabte to pay ,o ,n. ororrruw.na sum of Ul

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oA.NO.5sl2025

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Rs.25,96,666/- with future interest @1 1.70olo p.a. simple from the date of application till the date of rea lization;

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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 properties of defendants for realization of its dues;

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iv) the applicant bank is entitled 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 according ly.

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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 15th Day of September, 2025).

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Ow^,* (RAtq'ESHWAR KorHE) PRESIDING OFFICER

Union Bank of India v. M/S. Nivansh Modulars

Case brief

What is this about?

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Union Bank of India v. M/S. Nivansh Modulars

Case brief

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