Allowed

Canara Bank v. M/S Silk Screen Private Limited

DRT4 Apr 2025OA/903/2023

Case brief

AI extract

What is this about?

In OA No. 903/2023, Canara Bank sought recovery of loans totaling Rs. 23,40,358.49 against four defendants. After defendants failed to appear, the DT upheld the claim based on evidence, declaring respondents jointly and severally liable for principal, future interest, costs, and rights over hypothecated assets.

What did the court decide?

Respondents directed to pay Rs. 23,40,358.49 with future interest and costs; bank entitled to realize dues from hypothecated assets and defendant properties.

Canara Bank versus M/S Silk Screen Private Limited — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE O4th DAY OF APRIL, 2025

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

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OR]G]NAL APPLICAT]ON No: 903 OF 2023

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Canara Bank., Balanagar, Hyderabad - 500037. Rep. by its Authorized Signatory.

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.....Applica nt.

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Versus

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M/s. Silkscreen Private Limited., A-30 AIE, First Floor 103, Shankar Towers, Associated Industrial Estate, Balanagar, Hyderabad - 500037. Rep by its Mr.Supreet Summon.

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M r.Supreet Summon, S/o.Suman Jee, Aged about 29 Years,

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Occ: Business, R/o. Plot No.26,

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l't Floor, Mythri Nagar, Soujanya Nilayam, Kukatpally, Hyderabad - 500072.

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Also at:-

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ward No.7, Raja Bagicha, wllliams Town, Deoghar, B Deoghar, Jharkhand - 8l4ll2.

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Mr.Ganiga Thippeswamy Vijaya Kumar, S/o.G.Thippeswamy, R/o.Plot No.76, 1't Floor, Mytri Nagar, Kukatpally, Hyderabad - 500072.

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Also at:-

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10, Rajya Heddari Hattira, Kerekondapura, Chitradurga, Devasamudra, Karnataka - 577540.

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K**

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oA.NO.903/2023

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Saumya Sanchita, S/o. Sushil Kumar Ja iswal, Aged about 29^years, R/o.plot No.76, 1-r Floor, Mytri Na9ar, Kukatpalty, Hyderabad _ 5dOO72.

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Also at:-

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10, Rajya Hedda ri Hattira, Kerekondapura, Chitraduroa. Devasamudra, Karnataka^'- S77S4O. Babu Nagar, Kasya, Kush inaga r, Uttar Pradesh - 274402.

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... Defenda nts

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Counsel for the Applicant

:Ms.A.Sravanthi

Defenda nts

:Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.23,40,358.49ps as on 30.09.2023 i.e., a sum of Rs.9,37,790.43ps under A/c. No.3069140OOO 1874 with inrerest @11.05o/o p.a., a sum of Rs.8,29,721.89ps under A/c. No.3069945000075 with interest @12.10olo p.a. and a sum of Rs.5,72,846.17ps under A/c. No.17002987550 with interest @9.250lo p.a. from the defendants joinfly and severally 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 to 4 through paper publication. They

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were set ex-parte on 12.09.2024 as called absent and no

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representation.

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The Applicant Bank examined D.Ravinder, Sr. Manager, as AW-

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1 and marked 23 documents through him as Ex. A.1 to Ex.

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4.23. N*"

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oA.NO.903/2023

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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 Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.23 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.903/2023 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.23,40,358.49ps as on 30.09.2023 i.e., a sum of Rs.9,37,790.43ps under A/c. No.30691400001874, a sum of Rs.8,29,721.89ps under A/c. No. 3069945000075 and a sum of Rs.5,72,846.17ps under Alc. No. 77002987550) with future interest @8.90olo

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p.a. simple from the date of application till the date of rcilzatiorzru,.n$g

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oA.NO.903/2023

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the OA claim is^{secured bY way of}

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ii) hypothecation of^{assets describedin the} schedule annexed^{tothe OA and the} applicant bank^{is entitledto proceed against} the same to^{realiseits 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^{is entitledfor the costs'}

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Bank is directed to^{file CostMemowithin2 weeks}

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B, The Applicant 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,^{signedand pronouncedbyme in the open court on} this the 04th^{Day of April,2025).}

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ffi"tu'r ESHWAR KOTHE) PRESIDING OFFICER

Canara Bank v. M/S Silk Screen Private Limited

Case brief

What is this about?

What did the court decide?

Canara Bank v. M/S Silk Screen Private Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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