The Tribunal allowed the recovery application filed by Canara Bank against M/s. Sri Sai Industries for failure to comply with loan terms, holding the applicant bank entitled to recover the claimed sum with interest.
Relief granted is payment of Rs.20,87,669.64 along with interest and costs to the applicant bank.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD
DATED THrS THE tsr DAY oFAPRrL,2026
PRESENT: SRI GUMMADI GOPICHAND,PRESIDING OFFICER
OA.No.1O8 of 2026
Between:
Canara Bank, Branch at H.no.4-18, Main road near Ambedkar Statue, Konda Maduguvillage Warangal district.
Represented bYits Chief Manager
Applicant
VERSUS
M/s. Sri Sai Industries, Represented bY itsProPrietor, Sri Bhanothu Venu, S/o Sri BhanothuTeekYa, Aged 34years, occ:business, Plot no.136, IDA MallaPur-500 076.
Defendant
Counsel for theParties:
Ms. Sangeeta Jaiswal
For the APP|icant Defendant Exparte 23.03.2026 Reserved on 01.04.2026 Pronounced on Uploaded inwebsite on 0t.04.2026
ORDER
or0u1t&H
(Rupees TwentY Lakhs
(oA.No.10812026l.
Eighty Seven ThousandSix HundredSixty nine and paise Sixty Four only) with interest @13.05o/op.aalong with penal interest@ Zo/o p.a from date ofapplicationtill the date of realizationand in default for sale ofhypothecated movablesas mentioned in the schedule to OA.
(oA.No.108l2026l
(oA.No.108l2026l
sdl-
(G. GOPICHAND)
PRESIDING OFFICER
o 1 APR z[zg
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4
1 issue framed by the court
whether the Applicant Bank is entitled for the claim made in the OA against the Defendant as prayed for?
Canara Bank
M/s. Sri Sai Industries
Sri Gummadi Gopichand
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
