Allowed

Union Bank of India v. M/s. Gulshan Fancy Sarees Center.

DRT28 Jan 2026OA/1036/2025

Case brief

AI extract

What is this about?

In this DT-II Hyderabad order dated 28/01/2026, the Presiding Officer allowed the Original Application filed by Union Bank of India for recovery of dues of Rs. 26,47,689.15 along with future interest and costs, and secured by hypothecated assets.

What did the court decide?

Defendant to pay Rs. 26,47,689.15 with interest; proceed against hypothecated and personal assets; recover certificate issued.

Union Bank of India versus M/s. Gulshan Fancy Sarees Center. — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 28TH DAY OF JANUARY, 2026 PRESENT: SH. RAMESHWAR KoTHE, B,com., L.LB, (Hons.), M.A. PRESIDING OFFICER

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qRIGINAL APPLICATION No: 1036 OF 2O2S

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Union Bank of India., Asset Recovery Branch, 1s' Floor I Y 9ufpr:^{Branch, Behind Admin Buitding} S V University, Tirupath i. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M,/s. Gulshan Fancy Sarees Center., Rep by its Proprietor Sri K.Sharuq Khan S/o. Sri K. Liyakathali Khan Aged about 20^years, Occ: Business 72-766-7 12 Vatisab Road, Kadiri - 515591.

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Also at:-

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l-1O74-4A Radhakrishna Street, Kadir Ananthapur - 515591.

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... Defendant

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Counsel for the Applicant

Ms. Sangeeta Jaiswal

Defendant

Ex^- pa rte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.26,47,689.15ps i.e., a sum of Rs.15,02,426.95ps towards Loan A/c. No.30116170000029 and a sum of Rs. 1 1,45,262.20ps towards Loan A/c.No.3O11514OOOOO15 from the defendant with future interest @13.05o/o p.a. with monthly rests from the date of application till the date of realization along with costs and in default for sale of hypothecated assets. ,fu/.ts (7 ts'r'

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oA.NO.1036l202s

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Summon sent to sole defendant returned^{with endorsement} refused hence, deemed to be^{served and was set ex-parteOn} 27.0t.2026 as called absent and no representation.

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The Applicant Bank examined N. Viswanatha^Reddy,Chief Manager, as AW-1 and marked 21 documents through him^as Ex,A.1to Ex.A.21.

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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 Appticant Bank is entitled for the claim made in the OA against the Defendant and OA hypothecated assefs?

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As stated supra, the Defendant remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.21 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is 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.1036/2025 is allowed as under: -

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i) The Defendant is liable to pay to the i.e ., a sum of Rs.15,02,426.95ps towards Loan A/c.No.30116170000029 and a su,m of Rs.11,45 ,262.20ps towards Loan A/c. No. , ,*lrrnr -n ...' -<f{Lr:F

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oA.NO.1036/202s

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30115140000015 with future interest @11.05o/o 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 hypothecation of assets described in the schedule annexed to the OA and the applicant bank is entiued to proceed against the same to realise its debt;

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iii) the applicant bank is also entifled to proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entiiled for the costs.

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B. The Applicant Bank is directed to file Cost Memo within 2 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 this order to the parties concerned. (Dictated ro the steno, correcred, signed and pr"n;r;.;J;;;; in the open court on this the 28th Day ofJanuary, 2026).

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.^/*')-,,.,trh -tL'! ' (RAMESHWAR KOTHE) PRESIDING OFFICER

Union Bank of India v. M/s. Gulshan Fancy Sarees Center.

Case brief

What is this about?

What did the court decide?

Union Bank of India v. M/s. Gulshan Fancy Sarees Center.

Case brief

What is this about?

What did the court decide?

What the court decided

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