Debts Recovery Tribunal allowed an Originating Application filed by Canara Bank for recovery of dues totaling Rs. 1,99,89,825 against two defaulting borrowers, with future interest and costs.
Direct payment of Rs. 1,99,89,825.00 plus future interest and costs; recovery from mortgaged/hypothecated properties; issuance of Recovery Certificate.
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IN THE DEBTS RECOVERY TRIBUNAL - I AT HYDERABAD DATED THIS THE OSth DAY OF JULY,2026
PRESENT: SRI GUMMADI cOPICHAND, PRESIDING OFFICER
OA. No. 100 OF 2026
Between :
Canara Bank,
Hanumakonda - ll Branch, H.No. 2-5-39, Water Tank Road, Near Naveena Childrens Hospital, Nakkalgutta, Hanumakonda, Warangal District - 506 001, Telangana State
Represented by its Authorized Officer
Applicant
VERSUS
Defendants
(oA. No. 100/2026)
Counsel for theparties:
For The Applicant Dishit Bhattacharjee For the Defendant Exparte Reserved on 07.07.2026 Pronounced on 08.07.2026 Upload in website on 08.07.2026
ORDER
(i) Rs.l,59,04,723.00 Ps. under Term Loan account withfuture interest @13.65% p.a with monthly rests from 01.07.2025llll the date of realization;
(ii) Rs.19,64,191.00 Ps. under OD Loan account with future interest @12.5okp.a with monthly rests from01.07.2025tillthe date of realization;
(iii) Rs.4,08,366.00 Ps''u-ftgr.{rp- GECL - I account withfuture rnterest Orr zsv(thS*fu"sts from01 072025till the date of realization; # '$\ 0 I JUB 2020 I .!i '".
(OA. No. 100/2026)
(iv) Rs.17,12,545.00 Ps. under the GECL - 2 account with future interest @11.25% p.a with monthly rests from 01.07.2025 tnl the date of realization;
and in default for sale of Hypothecated Movables and Mortgaged Property as mentioned in the Schedule of property A and B to OA.
As per the averments in the application, the Applicant Bank states that Defendant No. 1 is aproprietorship Firm represented by its Proprietor Defendant no. 2 availed Term Loan facility of Rs.98,31,000/- repayable in 120 equated monthly installments of Rs.1,59,210l- p.m with interest and working capital facility of Rs.15.00 Lakhs together with interest and executed Common Hypothecation Agreement dated 12.Og.2ojg in favor of the Applicant Bank. The defendants availed GECL -1 loan facility of Rs.5.00 Lakhs with interest and executed Common Hypothecation Agreement dated 15.07.2020 in favor of the Applicant Bank. The defendants availed GECL - 2 loan facility of Rs.14.00 Lakhs with interest and executed Supplemental Common Hypothecation Agreement dated 23.12.2021 in favor of the Applicant Bank. The Defendant no. 2 being the proprietor of Equitable Mortgage morefully property to OA and executed Memorandum Deeds dated 13.O2.2O23 in favor of tnJ fppiiL"ThrrftJilo deposited tiue deeds in favor
(OA. No. 100/2025)
of the Applicant Bank. After availing the loan facility,the defendants failed to comply the terms ofsanction, hence the applicant bank classified theaccount asNPA and issued Demand notice dated 04.11.2023 under Section13(2) of the SARFAESI Act, 2002 to the defendants.lnspite of several requests and demands, the defendantsdid not clear the outstanding. Hence this OA.
,.{&'Hffi.
(OA. No. 100/2025)
I ln the result, the present OA is allowed with costs, as under :
The Defendants no. 1 and 2 are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.1,99,89,825.00 ps., (Rupees One Crores Ninety Nine Lakhs Eighty Nine Thousand Eight Hundred and Twenty Five Only) i.e a sum of-
(i) Rs.l,59,04,723.00 Ps. under Term Loan account with future interest @13.65% p.a from 01.O1.2025 till the date of realization;
(ii) Rs.19,64,191.00 Ps. under OD Loan account with future interest @12.5% p.a from 01.07.2025 till the date of realization;
(iii) Rs.4,08,366.00 Ps. under the GECL - | account with future interest @11.25o/o p.a from 0i .07 .2025 till the date of realization;
(iv) Rs.17,12,545.00 Ps. under the GECL - 2 account with future interest @11.25% p.a from 01.07.2025 tillthedateof realization;
(OA. No. 100/2026)
sd/-
(G. GOPICHAND)
PRESIDING OFFICER
0 E .'j!
1 issue framed by the court
Whether the Applicant Bank is entitled to recover the claimed amount and proceed against the properties of the Defendants under OA No. 100/2026.
1 provisions across 1 enactments
Canara Bank, Hanumakonda - ll Branch
M/s. Venkatamahalaxmi Powerloom Industry
Lakide Rajulu
Gummade Opichand
As recorded by the court registry
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