Allowed

Union Bank of India v. M/s. Igenix Pharma Pvt. Ltd.

DRT26 Dec 2025OA/747/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application for recovery of dues from four defendants despite their ex-parte participation, holding them jointly and severally liable for the claimed sum.

What did the court decide?

Declaration of joint and several liability to pay Rs. 2,57,63,450.02 plus future interest and costs; security over mortgaged properties; issuance of Recovery Certificate.

Union Bank of India versus M/s. Igenix Pharma Pvt. Ltd. — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 26TH DAY OF DECEIVIBER, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), f4.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No', 747 OF 2025

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Union Bank of India., Madhuranagar Brcnch, 8-3-224/2/ LO7 G1, G2, G3, M R Residency, Yousufguda Main Road, Madhura Nagar, Hyderabad-500045, TS. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s. Igenix Pharma Pvt. Ltd., # 510, Manjeera Majestic Commercial KPHB, Ku katpally, Hyderabad-500072, TS.

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Mrs. Duvvuri Radha Rani

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Wo.^{DuvvuriVisweswaraRao, Female} Aged 52 Years,401, Sai Towers

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Prashanth Nagar, Opp. Dr A S Rao Nagar Secundera bad - 500062, T.S.

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Mr. Soubhagya Rao Darappureddy S/o. Chalapathi Rao Darappureddy, Male Aged 53 Years, 5-232, Deepthi Sri Nagar Madinaguda, M iyapur, Hyderabad-500049, TS.

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Mrs. Guduru Sandhya D/o. Late Satyanarayana, W/o.Guduru Ravinder, Female, Aged 44 Years

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16- 1 1-596, Gaddiannaram, Dilsuknagar Hyderabad - 500060, TS.

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... Defendants

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: Mr. Srinivasa Rao Chakrala Counsel for the Applicant Defenda nts : ex_oart//4.2

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oa.No.7 47 12025

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.2,57,63,450.02ps i.e., a sum of Rs.1,81,97,757.50ps towards A/c. No.171216390000002 with interest @9.350/o p.a. and a sum of Rs.75,65,692.52ps towards A/c. No. 1712150100000012 with interest @12olo p.a. from the defendants joinfly and severally from 01.05.2025 till the date of realization along with costs and in default for sale of OA schedule properties.

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Summons served on D1, 2 & 4, whereas vakalat not for D3. They were set ex-parte on 15.12.2025 as called absent and no representation.

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The Applicant Bank examined Ramakrishna Raja, Chief

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Manaqer, as AW-1 and marked 37 documents through him as Ex. A.1 to Ex. A.37 .

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Ld. Counsel for the Applicant Bank reported orders may be passed through merits. perused the written arguments and

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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 aqainst the Defendants and OA schedule properties?

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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.37 marked on behalf of the Applicant Bank clinches the claim of the Applica nt Bank agan\lhe oefendants.

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oa.No.7 47 /2O2s

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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.747/2O25 is allowed as under: -

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.2,57,63,450.02ps i.e., a sum of Rs.1,81,97,757.50ps towards A/c. No. 171216390000002 and a sum of Rs.75,65,692.52ps towards A/c. No. 1712150100000012; with future interest @9.350/o^p.a. simple from the date^of application till the date of realization;

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ii) the OA claim is secured by way of mortgage of properties 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 withln 2 weeks from the date of receipt of this Order. nkv (:,.

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oA.NO.74712025

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Issue Recovery Certificate accordingly.

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C^ommunicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed.na pronorn.lJUy..,n,n. open court on this the 26th Day of Decembel 2025).

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(RAMESHWAR KOIHE) PRESIDING OFFICER

Union Bank of India v. M/s. Igenix Pharma Pvt. Ltd.

Case brief

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Union Bank of India v. M/s. Igenix Pharma Pvt. Ltd.

Case brief

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