Allowed

Bank of Baroda v. M/S. Urban Retail

DRT15 Dec 2025OA/829/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Bank of Baroda's original application for recovery of dues of Rs.97,77,334/- from the defendants jointly and severally, with future interest, costs, and realization of hypothecated assets.

What did the court decide?

Defendants to jointly and severally pay Rs.97,77,334/- with interest and costs; proceed against hypothecated assets/properties; issue Recovery Certificate.

Bank of Baroda versus M/S. Urban Retail — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE 15TH DAY OF DECEMBER, 2025

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

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ORIGINAL APPLICATION No: 829 OF 2025

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Bank of Baroda.,

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MG Road, Secunderabad Branch, Hyderabad. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s. Urban Retail.,

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Prop: Mr. A. Lakshman, F.No.302 Challas lanakiram Residency, Guttala Begumpet, Beverly Hills, Kakatiya Hills, Hyderabad, Telangana - 81.

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Mr. Arrolo Lakshman

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H. No.B-3- 1 69 / 60 / 1286, Shivamma Papi Reddy Hills, BJR Nagar, Khairatabad Hyderabad, Telangana - 5OOO45.

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Mr. Rama Krishna prasad Akkala

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Flat No.C1, 4th Floor, Sahithi Construction Sumukh Orbit, Opp: Durgam Cheruvu Besides Bharat^petrol pump Lane, Madhapur Hyderabad, Telangana - 5OOO45.

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...Defendants

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Counsel for the Applicant : Mr. N. V. Subba Raju

Defendants

: Ex_parte

:: ORDER::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.97,77,334/- i.€., (Rs.46,73,350/_ towards A/c.No.5120500000387 and Rs.51,03,9g4l_ towards A/c.No.5120600005332) from the defendants joinfly and N,,*

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oA.NO.829l2025

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severally with future^interest @10^{55yo p.a with monthlyrests} along with^{penal interest} @4olo^{from 08.08.2025till the date of} realization along with costs^{and in default for sale of} hypothecated assets.

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Summons served on^D1 to 3 through^{paper publication. They} f2.f2.2025 as called absent^{and no}

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were set ex-parte^on representation.

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The Applicant Bank^{examined Arun Kumar, Branch Head, as} AW-1 and marked^{12 documentsthrough him as Ex' A 1 to Ex'} A.12.

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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 considerationis:-}

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Whether the Applicant^{Bank is entitled} for the claim made^{in theOA against} the Defendants and^{OA hypothecated} assefs?

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As stated^{supra, the Defendants remained ex-parte'The} Evidence Affidavit^{coupledwith the recitalsin the documents} viz., Exs. A.1 to^{A.19 markedon behatf of the Applicant Bank} clinches the^{claim of the Applicant Bank against the Defendants'} Hence, I hold that^{the Defendants are jointlyand 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 OriginalApplication No 829/2025 ls} alowed as under:^-

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V/Ytt*-

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oA.NO.829/2025

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.97,77,334/- i.e., (Rs.46,73,350/towards A/c.No.5120500000387 and Rs.51,03,984/- towards A/c. No. 5120600005332); with future interest @11olo 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 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 debU

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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 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 15th Day of December, 2025).

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tfrr\rystu L? - '''(RAMESHWAR KOTHE) PRESIDING OFFICER

Bank of Baroda v. M/S. Urban Retail

Case brief

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Bank of Baroda v. M/S. Urban Retail

Case brief

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