Allowed

Union Bank of India v. Smt. Akkishetty Sreelatha

DRT19 Jan 2026OA/105/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an Original Application filed by Union Bank of India recovery of dues against the legal heirs of a deceased borrower. The court held the right to file a Written Statement was forfeited and directed payment of the debt with future interest. Future interest @10.20% p.a.

What did the court decide?

Defendants jointly and severally liable to pay total sum of Rs. 1,10,15,477.88 with future interest @10.20% p.a. Bank entitled to proceed against mortgaged property and person of defendants. Recovery

Union Bank of India versus Smt. Akkishetty Sreelatha — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL - IAT HYDERABAD DATED THIS THE 19th DAY OF JANUARY,2026 PRESENT: SRt GUMMADI cOptCHAND, pRES|DtNG OFFTCER

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OA. No. 105 OF 2025

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Between:

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M/s Union Bank of lndia, Hyderabad Main Branch, Siddiamber Bazar, Hyderabad - 500 002, Represented by its Branch Manager

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Applicant

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VERSUS

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Smt. Akkishetty Sreelatha, Wo. Late Akkishetty Chandrashekhar, Aged about 45 years, Occupation : Business, R/o. H.No. 30-26St2St1Ot3,

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Plot No. 10/3, Venkateshwara Nagar, Old Safi lguda, Matkajgiri, Medchal- Matkajgiri District - 500 047

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Akkishetty Moksha, S/o. Late Akkishetty Chandra Shekhar, Aged about 13 years, Occupation :Student, R/o. H.No. 30-265t25t10t3, Plot No. 10/3,

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Venkateshwara Nagar, Old Safilguda, Matkajgiri, Medchal- Malkajgiri District - 500 047

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(oA. No. 1os/202s)

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3. Akkishetty Virat,

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S/o. Late Akkishetty Chandra Shekhar, Aged about 10 years, Occupation : Student, R/o. H.No. 3O-26St2St1Ot3, Plot No. 10/3, Venkateshwara Nagar, Old Safi lguda, Malkajgiri, Medchal- Malkajgiri District _ 5OO 047

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(Defendants No. 2 and 3 are the minors being represented by Defendant no.1 their mother as a natural Guardian namely Smt. Akkishetty Sreelatha, Wo. Late Akkishetty Chandrashekhar)

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(Defendants No. 1 to 3 are the legal Heirs of Late Akkishetty Chandra Sneifrar;

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Defendants

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Counsel for the parties :

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For The Applicant For the Defendants No. 1 to 5 Reserved on

Pronounced on

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V. llender

Sri A. Prashanth Kumar 06.01.2026 08.01.2026 19.01.2026

(oA. No. 1os/202s)

ORDER

The Applicant Bank fired the present oA against Defendants for recovery of a total sum of Rs.1,10,15,477.gg ps. (Rupees One Crores Ten Lakhs Fifteen Thousand Four Hundred Seventy Seven and paise Eighty Eight Only) i.e a sum of Rs.93,80,726.09 ps. and Rs.16,34,751.79 ps. together with future interesr @ 10.20% p.a with monthry rests from the date of this apprication ti, the date of rearization and in defaurt for sare of Mortgaged property as mentioned in the Schedule of Property to OA.

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As per the averments in the application, the Applicant Bank states that Late Akkishetty chandra shekhar avaired Home roan of Rs.71,20,000/- and Rs.12,12,000/_ repayabte in 214 equated monthly installments with interest @ g.2O% p.a with monthly rests and executed General Loan Agreement and other necessary loan documents dated 16.12.2019 and 2.01.2020 in favor of the Applicant Bank. Late Akkishetty Chandra Shekhar create equitable mortgage morefully mentioned in Schedule of property to OA and executed Memorandum of Deposit of Tifle deeds dated 31.12.2019 in favor of the Applicant Bank and deposited title deeds in favor of the Applicant Bank. After availing the loan borrower Akkishetty e,handra Shekhar died on 15.05.2021 and -Defgndants^{No. 1 io;Q"Ere the regar} heirs of the Late Akkishetty ; Ghandra Shekhar Aftei availing the loan facility, the defendants i'1S rnrt^lfl7s i i; ',t, 3 i'..t." :- 'q .-, t" "" *'

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(OA. No. 10s/202s)

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failed to comply the terms of sanction, hence the applicant bank classified the account as NpA on 31.03.2021 and issued Demand notice dated 12.09.2024 under section 13(2) of the SARFAESI Act, 2002 to the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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Sri. M. Rathan singh fired Vakarat on beharf of Defendants No. 1 to 3. Even after the lapse of 45 Days WS of Defendants No.1 to 3 not filed and hence the right of filing of WS of Defendants No. 1 to 3 was forfeited on22.Og.2O2S.

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Sri. Alli Naveen Kumar, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.16.

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arise for consideration is whether the Applicant bank is entitled for the claim made in the OA against the Defendants as prayed for?

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Defendants no. 1 to 3 did not fite their WS even after availing hence the right of fiting of WS of Defendants forfeited. To substantiate the case of the * .1, official of the Applicant Bank was 1 9 ,rntl 2026 4

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(OA. No. 105/202s)

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examined and he exhibited relevant documents as Ex.A.1 to 4.16. ln view of the above, I hold that the Applicant Bank has established their craim made in the oA against the Defendants and hence the Appricant Bank is entiiled to recover the craim made in the OA with future interest and costs.

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In the result, the present OA is allowed with costs, as under :

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The Defendants No. 1 to 3 are joinfly and severally liable to pay to the Applicant Bank a total sum of Rs.1,i0,15,477.gg ps. (Rupees One Crores Ten Lakhs Fifteen Thousand Four Hundred Seventy Seven and paise Eighty Eight Only) i.e a sum of Rs.93,80,72G.09 ps. and Rs.16,34,251.1g ps. together with future interest @ 1O.2Oo/o p.a from the date of this application till the date of realization.

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The Applicant Bank is entifled to proceed against the Mortgaged Property as mentioned in the Schedule of the Property to the OA towards realization of the debt due.

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The Appticant Bank is also entitled to proceed against the person and properties of defendants No. 1 to 3 towards realization pf the debt due. ':',1 i , 1^g titt tit ,: '" ...") r;.^''

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(oA. No. 7osl2o2s)

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That Applicant Bank is entitted to the costs of the oA.

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The Applicant shail fire a cost memo within two weeks from the date of receipt of order.

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lssue Recovery Certificate accordingly.

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communicate a copy of the order to the parties concerned.

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(Dictated to the P'A" transcribed by her, corrected, signed and pronounced by me in the open court on this the 19th day ot Jan,2026)

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sd/(c. coPtcHAND) PRESIDING OFFICER

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Union Bank of India v. Smt. Akkishetty Sreelatha

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Smt. Akkishetty Sreelatha

Case brief

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What the court decided

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