Allowed

Kotak Mahindra Bank Ltd. v. M/s. Sanathan Transport.

DRT5 May 2026OA/1061/2025

Case brief

AI extract

What is this about?

In this Debt Recovery Tribunal proceeding, the tribunal adjudicated an Original Application filed by the bank for the recovery of dues of over Rs.34 lakh from the defendants. The defendants remained absent.

What did the court decide?

The Defendants are jointly and severally liable to pay Rs.34,48,472.42 with future interest; OA claim secured by hypothecation; applicant entitled to costs and issuance of Recovery Certificate.

Kotak Mahindra Bank Ltd. versus M/s. Sanathan… — Contract and Commercial Disputes | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE O5TH DAY OF MAY, 2026

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PRESENT: SH. RAMESHWAR KOTHE, B,COM., L.LB.^{(HONS.), M.A.}

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PRESiDING OFFICER

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ORIGINAL APPLICATION NO: 1061 OF 2025

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Kotak Mahindra Bank Ltd., Having its Branch Office al 6-3-1109/ 1/P/3O2 3'd Floor, Jewel Pavani Towers, Rajbhavan Road, Somajiguda, Hyderabad - 500082. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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l4/s. Sanathan Tra nsport., A Partnership Firm, its Proprietor

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Hanumanthu Chole, Office at Sy.No.47lA CCI Road, Tand u r, Vikarabad

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Tela ngana - 501141.

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Mr. Chole Hanumanthu

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S/o. C. Ganapathi,^{Aged about35 Years}

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Occ: Prop. Of M/s. Sanathan^Transport

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R/o. H. No.1- 16, lamni lvlandal

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lainoor, Adila bad - 504313.

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Mrs. Chole Gokarna,^{W/o.c Hanumanthu} Aged about 31 Years, Occ:^Business R/o. H. No.1- 16, lamni^Mandal Jainoor, Adilabad - 504313.

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...Defendants

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: lvlr' M. Srinivas Reddy Counset for the Applicant

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Defendants : Ex-parte

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:: 9-Lq-LL ::

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The Applicant Bank filed^{the present OA for the recoverya total} sum of Rs.34,4 8,472.42ps^{from the defendants jointlyand} n\YY^^-71 I '. -9'^_

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oA.NO.1061/202s

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severally with future interest @180/0 p.a. from the date of application till the date of realization along with costs and in default for sale of hypothecated asset.

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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 Abhishek^p S, Legal Manager, as AW-1 and marked 07 documents through him as Ex. A.1 to Ex. A.07 .

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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 hypothecated asset?

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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.07 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinly 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 Originat Apptication No,1O61/2025 is alowed as under: - ffir*

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oA.NO.1051/202S

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i) The Defendants are^jointly and^severally liable to^pay to the Applicant^Bank a^{sum of} Rs.34,48,472.42ps with future^interest @9.73o/o^p.a. simple^{from the date of} appllcation till the date of^realization;

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ii) the OA claim is secured bY^{way of} hypothecation of asset described in^the schedule annexed to the OA^andthe applicant bank is entitled^{to proceed against} the same to reallse its debt;

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iii) the applicant bank^{is also entitledto proceed} against the^person and^{properties of} defendants for realization^{of its dues;}

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iv) the applicant bank^{is entitledfor the costs.}

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The Applica nt Bank is directed^{to file cost Memo within2 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 to the steno, corrected, 5itned^{and pronounced by me in the open court on} this the o5th^Day of^MaY,2026)

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ir$rf

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ESHWAR^KOTHE) PRESIDING^OFFICER

Kotak Mahindra Bank Ltd. v. M/s. Sanathan Transport.

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Ltd. v. M/s. Sanathan Transport.

Case brief

What is this about?

What did the court decide?

What the court decided

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