In an Original Application for recovery, the Debts Recovery Tribunal allowed the claim of Canara Bank, Mamillagudem Branch, against a proprietorship firm and its proprietor for a loan default, enforcing rights under SARFAESI Act.
Order allowed; Defendants jointly and severally liable to pay Rs. 22,74,275.48 + interest; Recovery Certificate issued.
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 RECOVERY TRIBUNAL - I AT HYDERABAD DATED THIS THE 13th DAY OF APRIL,2026
PRESENT: SRI cUMMAD| cOptCHAND, pREStDtNG OFFTCER
OA. No. 167 OF 2026
Between :
Canara Bank, Mamillagudem Branch, Khammam,
Telangana - 507 001
Represented by its Authorized Officer
Applicant
VERSUS
S/o. K. Venkaiah,
Khammam Rural Mandal,
Khammam District - 507 003
Aged about 48 years,
Occ. Business, Male,
R/o. Dugurupadu Village,
Khammam Rural Mandal,
Khammam District - 507 003 Defendants
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(oA. No. 167/2026)
Counsel for the parties :
| ForTheApplicant | TaranginiPisipati |
|---|---|
| FortheDefendant | Exparte |
| Reservedon | 08.04.2026 |
| Pronouncedon | 13.04.2026 |
| Uploadinwebsiteon | 15.04.2026 |
ORDER
- The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.22,74,275.48 Ps. (Rupees Twenty Two Lakhs Seventy Four Thousand Two Hundred Seventy Five and Paise Forty Eight Only) with future interest @13.00%p.a with monthly rests from 06.02.2026 tiil the date of realization and in default for sale of Hypothecated Movables as mentioned in the Schedule of Property A to OA.
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(oA. No. 1672026)
secured the term loan facility by hypothecation of movables morefully mentioned in Schedule of property A and executed Agreement cum Deed of Hypothecation dated 23.Og.2021 in favor of the Applicant bank. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NpA on 22.02.2025 and issued Demand Notice dated 05.02.2026 under section 13(2) of SARFESI Ac1,2002 to the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.
- Sri. Kumar Vankudothu, Senior Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.9.
and remained exparte. To substantiate the case of icant Bank, AW.1, official of the Applicant Bank was and he exhibited relevant documents as Ex.A.1 to A.9. ,t *- lSAPR2W *
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(oA. No. 16712026)
ln view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants and hence the Applicant Bank is entitled to recover the claim made in the OA with future interest and costs.
The Defendants No. 1 and 2 arejointly and severally liableto pay to the Applicant Bank a total sum of Rs.22,74,275.48 Ps. (Rupees Twenty Two Lakhs Seventy Four Thousand Two Hundred Seventy Five and Paise Fofi Eight Only)with future interest @13.00%p.a from 06.02.2026till the date of realization.
icant Bank is entitled to the costsof the OA.
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(oA. No. 1672026)
(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open cou( on this the 13h day of Apr, 2026)
sd/(G. coPtcHAND) PRESIDING OFFICER
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1 issue framed by the court
Whether the Applicant Bank is entitled to the claim made in the OA against the Defendants?
2 provisions across 2 enactments
Canara Bank, Mamillagudem Branch
M/s. Karnem Upender
G. C榆mathand
Presiding Officer
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
