Allowed

Bank of Maharashtra v. M/S. Lgas Labs Private Limited

DRT4 Sept 2025TA/6/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed Transfer Application No. 06/2024 filed by Bank of Maharashtra. The court held defendants jointly and severally liable to pay the claimed amount with future interest based on ex-parte evidence, directing issuance of a recovery certificate.

What did the court decide?

Defendants jointly and severally liable to pay claimed sum with future interest; recovery certificate to be issued.

Bank of Maharashtra versus M/S. Lgas Labs Private Limited — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE O4TH DAY OF SEPTEMBER, 2025

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

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TRANSFER APPLICATION No: 06 OF 2024

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Bank of l4aharashtra., Safilguda Branch, Hyderabad, TS. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s.LGAS Labs Private Limited., Rep by its Director Sri. Bharath Kumar Donka n i

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Plot No.55, 2d Floot, Sy.No.124 Opp, GVK BIO, lvlallapur, IDA Nacharam, TSIIC - IALA, Nacharam Municipality, Uppal (lv1), I\4edchal District Tela ngana - 500076.

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Don ka ni Bharath Kumar

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S/o. Donka ni Laxman Goud Aged 27 Years, Occ: Business Sex: Male, H.No.5-25, 14P Patel Guda Near UPS School, Ibrah im patna m Ranga Reddy - 501510, Telangana State.

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l'4oghuda la Ashok Goud Aged 45 Years, Occ: Business, Sex: lvlale H.No.3-14-1 17150, Vivekananda Colony lvlansoora bad, L.B Nagar, Ranga Reddy - 500068, Telangana State.

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Keshav Ramulu

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Aged 30 Years, Occ: Business, Sex f4ale H.No. 12-1 1-171, Brahmin Street Warasiguda, lvlusheerabad, Secu ndera bad Telangana state - 500061' ),u),i,r. x'tr'-

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...Defendants

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TA.NO.06/2024

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counsel for the Applicant

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: lvlomin lvlohammed Rafiq

Defendants

:Ex-parte

:: CLLLL& ::

The Applicant Bank flled the present TA for the recovery a total sum of Rs.1,23185,4621- i.e., a sum of Rs.91,71,570/-^with future interest @11.50olo^p.a., a sum of Rs.21,38,035/- with future interest @11.50%^p.a., a sum of Rs.4,71,190/-^with future interest @9.25% p.a. and a sum of Rs.6,04,668/-^with future interest @7.30o/o^p.a. from the defendants^jointly and severally with monthly rests along with^{penalinterest} @2yo^p.a. from the date of application till the date of realization along with costs and in default for sale of TA schedule^properties.

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Summons served on D1 to 4 through^{paper publication. They} were set ex-parte on 04.08.2025 as called absent and^no representation.

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The Applicant^{Bank examinedNandanSudhir Kulkarni, Chief} Manager, as AW-1 and marked 28 documents through^himas Ex. A.1 to Ex. A.28.

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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 consideration^is:-

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whether the Applicant Bank is entitled for the claim made in the^TA against the Defendants and TA schedule properties? Ow"

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TA.NO.06/2024

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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.28 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are join y and severally liable to pay the TA claim to the Applicant Bank with future interest and costs.

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In the result, the present Transfer Application No.O6/2024 is allowed as under: -

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i) The Defendants are jointiy and severally liable to pay to the Applicant Bank a total sum of Rs,1,23,A5,462/- i.e., a sum of Rs.91,77,5701-, a sum of Rs,21,38,035/-, a sum of Rs.4,71,190/- and a sum of Rs.6,04,668/-; with future interest @11.50yo p,a. simple from the date of application till the date of realization;

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ii) the TA claim is secured by way of mortgage of properties described in the schedule annexed to the TA 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 entiUed 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. ,'-','i ,,' - '

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rA.NO.06/2024

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B. The Applicant^{Bank is directed to file CostMemowithin2 weeks} from the date of^{receipt of this Order'}

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o Issue Recovery^{Certificate accordingly'}

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Communicate^{a copy of this order to the parties concerned'} (Dictated to the steno,^{corrected,signedand pronouncedbymein the open courton} this the O4th^{Day of September, 2025)'}

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;\T-9 (-a( ESHWAR KOTHE) PRESIDING^OFFICER

Bank of Maharashtra v. M/S. Lgas Labs Private Limited

Case brief

What is this about?

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Bank of Maharashtra v. M/S. Lgas Labs Private Limited

Case brief

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What did the court decide?

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