Allowed

Canara Bank v. Green Life Enterprises

DRT4 Aug 2026OA/162/2026

Case brief

AI extract

What is this about?

This judgment allowed the Recovery Case filed by Canara Bank against Green Life Enterprises and a respondent against recovery of term loan, overdraft, accrued interest and costs secured by hypothecated assets.

What did the court decide?

Allow the OA; Defendants jointly and severally liable to pay Rs. 29,78,408/- towards term and overdraft loans plus future interest, costs and hypothecated assets. Issue Recovery Certificate.

Canara Bank versus Green Life Enterprises — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE O4TH DAY OF AUGUST, 2026

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PRESENT: SH. RAN4ESHWAR KOTHE, B.Com., L.LB.^(HONS.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION NO: 162 OF 2026

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Canara Bank.,

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Peerzadlguda Branch, Hyderabad. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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Green Life Enterprises., Represented by its Proprietor Survey No. 192, Chandupatlaguda Ghatkesar Village and Municipality Medchal Malkajgiri District - 501301.

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Thonta Nagarani, W/o. Sri Shankar Goud Aged Major, Occ: Business, H.No.68-61/1 Near Gram^panchayati, Ghatkesar ...Defendants

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Medchal Malkajgiri District - 501301.

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: Mr. Dishit Bhattacharjee counsel for the Applicant Defendants : Ex-Parte

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:: qLLq& ::

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The Applicant Bank filed the^{present OA} for the^{recovery a total} sum of Rs.29,78,4O8/- i.e., a sum of^{Rs.20,31,456/-towards} Term Loan wlth future interest @13.050/0^{p'a' and a sum of} Rs.9,46,952/- towards Secured Overdraft Loan^{with future} interest @11.25olo^p.a. from the defendants^jointlyand severally compounded monthly from^{16.t2.2O25till the date of} realization along with costs and -(0 default for^{sale of} hypothecated assets. 0W*"

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oA.NO.16212026

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Summons served on D1 and 2 through paper publication. They were set ex-parte on 29.07.2026 as called absent and no representation.

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The Applicant Bank examined Kalleru Shiva Kumar, Legal lYanager, as AW-1 and marked 22 documents through him as Ex. 4.1 to Ex. A.22.

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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 entiued for the claim made in the OA against the Defendants and OA hypothecated assets?

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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.22 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinHy 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 Original Application No.16212026 is allowed as under: -

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i) The Defendants are joinuy and severally liable to pay to the Applicant Bank a totat sum of Rs.29l78,4081- i.e., a sum of Rs.20,31,456/- towards Term Loan and a N'ao

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oA.NO.162l2026

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sum of Rs.9,46,952/- towards Secured Overdraft Loan; with future interest @12.5% 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 entitled to proceed against the same to realise its debt;

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

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iv) the applicant bank is entitled 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 to the steno, corrected, signed and pronounced by me in the open court on this the 04th Day of August, 2026).

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PRESIDING OFFICER

Canara Bank v. Green Life Enterprises

Case brief

What is this about?

What did the court decide?

Canara Bank v. Green Life Enterprises

Case brief

What is this about?

What did the court decide?

What the court decided

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