Allowed

Karur Vysya Bank Limited v. M/S. Ameya Laboratories Limited

DRT21 Apr 2026OA/1017/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application by applicants against multiple defendants who remained absent by default. Relief was granted including joint liability and issuance of a recovery certificate.

What did the court decide?

Defendants declared jointly and severally liable to pay Rs. 84,39,51,963.13 with future interest; recovery certificate issued.

Karur Vysya Bank Limited versus M/S. Ameya Laboratories Limited — DRT (2026) — LawSathi Research

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 21ST DAY OF APRIL, 2026

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

¶4

ORIGINAL APPLICATION No: L0t7^{OF 2025}

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The Karur Vysya Bank Limited., Having its Branch at Rastrapathi^{Road, Secunderabad.} Rep. by its Chief Signatory

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....Applicant'

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Versus

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M/s. AmeYa Laboratories^Ltd., (FormerlY Know as M/s.Anu's Laboratories Ltd)',^{ReF bY its} Managing Director^{Sri. Kosaraju} Hari Babu, S/o. Sri^{Kosaraju SubbaRao} Administrative Office^{Plot No.68-B} Pragatinagar,^{Yousufguda, Hyderabad-500045'}

¶9

Kosaraju^{Hari Babu,S/o. Kosaraju} Subba Rao,^{Aged about58 Years} Occ: Business,^{Plot No'1169} Pragati Nagar,^{BachuPalliVillage} KukatPatlY,^HYderabad'

¶10

M S^Walimbe Maior, Occ:^{Business, Plot No'35} SwamY^{AYYaPPa SocietY} MadhaPur,^{HYderabad - 500081'}

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Sri M^{S S V SatYanarayana} S/o. Babu^{Raia VenkataKrishnarao} AgeO about^{56 Years' Occ: Business}

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Smt.^{Chadalawada Suiatha} W/o. Sabmasiva^{Rao' Aged about} 68 Years,^{Occ: Business}

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Smt'^{M' VanajaRani}

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Wlo. M S S V SatYanarayana Aged^{aOout 47 Years'Occ:,Busines.s.} ...'

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oA.NO.1017/202s

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7.	Smt.KotaUmaDevi, W/o.Venkateswarlu Aged 52 Years, Occ:Business
	D4toD7at:PlotNo.68-8,^pragatinagar Yousufguda,Hyderabad-500045.
	Alsoat:- A-45,Madhura Nagar,^yousufguda Hyderabad-500038.
8.	Kota Venkateswarlu Major, Occ:Business,^plotNo.16 Green Avenues,NizampetRoad Hyderabad.
9.	StateBankof India Stressed Assets ManagementBranch NearGPA,Patny Cenre, Secunderabad.
10.	IDBIBanKLtd., 5-9-89/7 82,ChapetRoad Hyderabad-500001.
11.	BankofBaroda Khairatabad Branch,Hyderabad_5OOO04. ...Defend
	Mr.LankaJagannadham Counselforthe Applicant
	Ex-parte Defendants

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... Defendants

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:: ORDER ::

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s The u m Applicant or Rs. 84, Bank 3 e, r r. filed r r r. fl;:'r1'"T' ;:^{t;:r::il:;ffi} ::1 severally with future inter @tu tto'o p'a' from the date of application tirr the date o-tt deraurt ror sare o, oo,.n"j,jffi:T,"T;,1fl_.osrs^{and in}

(Y'^{--/L\N^'t-r2}

oA.NO.1017/2025

Summons served on Dl, 2, 4 to 7 through paper publication, whereas summons served on D10 & 11. WS of D9 not filed hence, right was forfeited. They were set ex-parte on 17.O2.2026 as called absent and no representation. Applicant counsel filed a memo stating not pressing the OA against D3 and 8. Hence, OA is not pressed against D3 and 8.

¶24

The Applicant Bank examined Ch. V. D. Prasad, Senior Manager, as AW-1 and marked 36 documents through him as Ex. A.1 to Ex. A.36.

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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 OA against the Defendants and OA schedule 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.36 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.1017/2025 is allowed as under: -

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i) The Defendants 7, 2, 4 to 7 are jointly and severally liable to pe uv;rlt"ntBanka/

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oa.No.1017/2025

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sum of Rs.84,39,51,963.13ps 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 mortgage of properties 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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The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

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lssue 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 21n Day of April, 2026).

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f.)V**,, - ., /^// <-,"tu'N*

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I -/'

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(RAI\4ESHWAR KOTHE) PRESIDING OFFICER

Karur Vysya Bank Limited v. M/S. Ameya Laboratories Limited

Case brief

What is this about?

What did the court decide?

Karur Vysya Bank Limited v. M/S. Ameya Laboratories Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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