Allowed

Karnataka Bank Limited v. M/S. Vardhaman Industries

DRT27 Nov 2025OA/925/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed a Debt Recovery Application filed by Karnataka Bank Ltd. seeking recovery of dues from six respondents jointly and severally, including foreclosure on mortgaged properties.

What did the court decide?

Defendants to pay Rs. 6,17,27,537.90 with interest; bank entitled to proceed against mortgaged properties and defendant assets; Recovery Certificate issued.

Karnataka Bank Limited versus M/S. Vardhaman Industries — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 27IH DAY OF NOVEMBER, 2025 PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 925 OF 2O2S

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Karnataka Bank Ltd.. Branch at D.No.13/256, Kanchani Lomplex, C.B Road, Tadioatri Ananthapur District, Andhra pradesh. Rep. by its General power of Attorney Holder.

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.....Applica nt.

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Versus

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M/s. Vardhaman Industries., Survey No.76-4, B, C, D & 77B Rayala Cheruvu Village and post Yadiki Mandal, Ananthapur District Andhra^pradesh - 515455.

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Sri. Chopparapu Leela prasad S/o. Ch. B. Ratna Rao, Aged about 55 Years, Ftat No.4O9, Surya Hill View Apartments, 4rh Cross, Batri Road, Vidyanagar West, Bellary Karnataka State - 5g3104.

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Sri. Javvadi Srinivas, S/o. l. Rama Rao Aged about 55 years, Mathruchaya 5th Cross East, Opp Aroqya Maata Church, Vidya Nagar, Bellary Karnataka State - 583104.

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lvlr. M. Manoj Kumar, S/o. M. Hanumantha Rao, Aged about 56 years, Flat No.3O1 Surya Hill View Apartments, 4th Cross Batri Road, Vidyanagar West, Bellary Karnataka state^_ 583104.

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14r. Kodati Bataraju, s/o. Late Kodati Veera Swamy, Aged about 52 years Flat No.506, SVS Vaibhav Apartments

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,Aw"e,..

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/^t-,/ --\1\'\

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oA.NO.92sl2025'

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H. No.4-68168/3/^{1/506, Pipe LineRoad} Pet Basheerabad,^{Opp KonarkHospital} Qutbullapu^{r, Ra ngareddY District} Telanga na - 5000 55.

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Smt. ChopparaPU^lvladhavi W/o. Chopparapu^{Leela Prasad} Aged about 47 Yea|s,^{Flat No.409} Surya Hill View^{Apartments,4th Cross} Batri Road, Vidyanagar^{West, Bellary} Karnataka State - 583104. ... Defendants

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Counsel for the Applica^nt : Mr. N. Rama Rao Defenda nts : Ex-parte

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:: g-LLLL ::

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The Applicant Bank filed the^present OA^for the^{recovery a total} sum of Rs.6,17,27 ,537 .91ps 1.e., a sum of Rs.4,87,86,141.04ps as on 23.08.2025 towards Term Loan A/c.^No. 7607001801389501 and a sum of Rs.1,29,41,396.86ps as on 31.08.2025 towards Over Draft A/c.No.7607000600157501 from the defendants^jointly and severally with future interest @10.80o/o^p.a. from the date of^application 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 to 6. They were set ex-parte on 26.71.2025 as called absent and no representation.

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The Applicant Bank examined TVS Manjunath, Branch Manager, as AW-1 and marked 50 documents through him as Ex. A.1 to Ex. A.50.

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Heard the Ld. Counsel for the Applicant Bank.^perused the material placed on recora. f;,nttq

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oA.NO.925l2025

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The point that arises for consideration is:_

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t/yhether the Appticant Bank is enti ed for the claim made in the Oe agaiist the Defendants and OA sciedule 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.50 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 Originat Application No.925/2025 is allowed as under: -

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i) The Defendants are joinuy and severally liable to pay to the Applicant Bank a total sum of Rs.6,17,27,537.90ps i.e., a sum of Rs.4,87,86,141.04ps towards Term Loan A/c. No. 7607001801389501 and a sum of Rs.1,29,41,396.86ps towards Over Draft A/c. No.7607000600157501; with future interest @10.800/0 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 ,/b./,) LZ '-1'"

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oA.NO.92sl2025

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entitled to^{proceedagainst 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^{realizationof its dues;}

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lv) the applicant^{bank is entitledfor the costs}

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The Applicant Bank^is directed^{to file Cost Memo within2 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 thls order^{to the parties concerned.} (Dictated to the steno, corrected, siSned and^pronounced by me in the open court^on thrs the , /^h Day of November, 2025).

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'<\'t^ ' '^'-> r ' ,7''' (RAI\4ESHWAR KOTHE) PRESIDING OFFICER

Karnataka Bank Limited v. M/S. Vardhaman Industries

Case brief

What is this about?

What did the court decide?

Karnataka Bank Limited v. M/S. Vardhaman Industries

Case brief

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What did the court decide?

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