Allowed

Kotak Mahindra Bank Limited v. M/s. Catalog It Solutions Pvt. Ltd.

DRT6 May 2026OA/1051/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed Kotak Mahindra Bank's application for recovery of Rs. 35,64,143.30 plus interest against defendants who remained absent after summons via publication. Court ordered joint and several liability with authority to issue recovery certificate.

What did the court decide?

Defendants jointly and severally liable to pay Rs.35,64,143.30 plus future interest at 15.60% p.a.; recovery certificate to be issued.

Kotak Mahindra Bank Limited versus M/s. Catalog It Solutions… — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY^{TRIBUNAL-IIAT HYDERABAD}

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DATED THIS THE O6TH^{DAY OF MAY, 2026}

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

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Original Application^{No: 1051 OF 2025}

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Kotak Mahindra^{Bank Ltd.,} Having its Office at H.No.63- tt09/1,^{2nd Floor,} Nava Bharath Chambers, Raj Bhavan Road,^{Somajiguda, Hyderabad-500082'} Rep. by its Authorized^Signatory

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..Applicant

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Versus

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M/s. Catalog^{IT Solutions Pvt' Ltd',} ReP bY BellaPu^Srikanth,

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S/o. BellaPu^Prasad, R/o. H. No.6-3-7⁸⁷ lRlRlT^02, RoYal Pavilion^APartment, Beside RBI Quarters,^AmeerPet' HYderabad-500016'

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Smt.^{Sirimalla Swetha'} W/o. Sirimalla^Srinivas' Occ: Business,^{R/o'H'No'40-5U2'} -

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Flat No'403,^{Sai ComPlex t} Vasanth^{v.'h;; -otony', opp. Unani Hospital,} Moulali,^{Malkaigiri-500040'}

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And Also:

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R/o.^{2nd Floor, Suit No'2t6'} PrajaY^{CorPorateHoY19'} Chikoti,^{HYderabad- 5000 16'}

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Mr.^{BellaPu Srikanth'} S/o.^{BellaPu Prasad'.} ^ Occ:^{Business,Rl o'40-5112'} Flat No.403,^{Sai ComPlex} ' VasanthViharColony,opp'UnaniHospital, ......Defendants

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Moulali, Matkajgiri-500040'^]"-'.., ,)'

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oA.No.1051/2025

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Counsel for the Applicant Defendants

: Mr. V. Santosh

: Exparte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery of a sum of Rs.35,64,143.3ps from the defendants joinuy and severally with future interest @24o/o p.a. with monthly interests from the date of application till the date of realisation along with costs.

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Summons served on D1 to 3 through paper publication. They were set ex-parte on 04.05.2026 as called absent and no representation.

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The Applicant Bank examined M Roop Kishore, Legal Manager as AW-1 and marked 10 documents through him as Ex. A.1 to Ex. A.10.

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4' Heard the Ld. counser for the Appricant Bank. perused the materiar placed on record.

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The point that arises for consideration is:_

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Whether the Applicant Bank is enti ed for the ctaim made in tn" on asuiiii iie Defendants?

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As stated supra, the Defendants remained ex_parte. The Evidence Affidavit coupled with the recit A.1o marked on beharr ",,^"iil.'fi'r",TliljlJl;ff1"1,, I the Applicant Bank against the Defendants, Hence, I hold that the Defendants are joinfly and se, pav the oA craim to

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the Appricant eanr with .*,"1""J""1:'.,":.tj".:

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In the result, the present Originat ApptBtion No.1051/2025 is arrowed as under: -

()V_rr-'-'* 0b'"^-

OA.No.1051/2025

i) The Defendants are jointly and severally liable to^pay to the Applicant Bank a sum of Rs.35,64,143.3ps with future interest @15.61olo^p.a. simple, from the date of application till the date of realization;

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ii) the applicant bank is also entitled to proceed against the person and properties of the defendant for realization of its dues;

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iii) 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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Issue Recovery Certifi cate accordingly.

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Communicate a copy of this order to the^parties concerned. (Dictated to the steno., transcribed by him, corrected, signed and pronounced by me in the open court on this the 06th day ot May,2A26l.

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,ffi,^.,, PRESIDING OFFICER

Kotak Mahindra Bank Limited v. M/s. Catalog It Solutions Pvt. Ltd.

Case brief

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Kotak Mahindra Bank Limited v. M/s. Catalog It Solutions Pvt. Ltd.

Case brief

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