Allowed

Canara Bank v. Sri. Ramavath Praharsh Mark

DRT13 Apr 2026OA/170/2026

Case brief

AI extract

What is this about?

This is an Original Application filed by Canara Bank for recovery of a loan defaulting. The Tribunal, in the absence of the defendant, found the bank's claim substantiated by documentary evidence. The OA was allowed with costs and a Recovery Certificate was issued.

What did the court decide?

Order allowed, Defendant liable to pay Rs. 26,05,346/- with interest, costs awarded, and Recovery Certificate issued.

Canara Bank versus Sri. Ramavath Praharsh Mark — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL - IAT HYDERABAD DATED THIS THE 13th DAY OF APRIL,2026 PRESENT: SRI cUMMADI cOPICHAND,^pRES|DtNG OFFICER

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OA. No. 170 OF 2026

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Between :

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CanaraBank,
Rail Nilayam Branch,
RailNllayamBuilding, Rail Nilayam Road,
Secunderabad-500 025
RepresentedbyitsChief Manager Applicant
VERSUS
Sri.Ramavath PraharshMark, S/o. RamavathVishnuVardhan, Aged26 years, Occ. Business,
Proprietor ofM/s PraharshTraders,
Plot No. 7AGayathriNagar,
Bank Colony, SahebNagar,
VanasthaliPuram,
RangaReddy District
Telangana-500 070 Defendant ffi

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(oA. No. 170/2025)

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Counsel for^the Parties^:

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V Janardhan For The ApPlicant For the Defendant Exparte 08.04.2026 Reserved on 13.04.2026 Pronounced^on 15.04.2026 Upload in website^on

¶8

ORDER

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The Applicant^{Bank filed the present OA against Defendant for} recovery of^{a total sum of Rs.25,05,345.00Ps' (Rupees Twenty} Six Lakhs Five^{ThousandThree Hundred and Fofi Six} Only) with^{present rate of interest} @12'65%^{p'a with monthly} rests including^{penal interest with monthly compoundingfrom} the date of^{applicationtill the date of realization'}

¶10

As per the averments^{in the application,} the Applicant^Bank states that^{DefendantavailedTerm} Loan facilitY^of Rs.39,00,000/-^{repayablein 60 equated} monthly installments with interest @12.65%^{p.a with monthly} rests and^executed Loan Agreement^{cum HypothecationDeed} dated 10.10.2022ⁱⁿ t€dt ,m(of^{the ApplicantBank' After availing} the loan facilitY,^the failed to comPlY^{the terms of} sanction, hence^the * f;*^g * =; appli6iil bank classified the account as NPA on 08.02.2025 i,:J :1^? ' 't I APn^{Hf t1Trlzb} 4w^*ll li..'li \ l..a \:."^ 4 ., .ii, ("',",a1P2 -.:- .-, - ;ii

¶11

(OA. No. u0l2026)

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and issued Legal Notice dated 23.06.2025 to the defendant. lnspite of several requests and demands, the defendant did not clear the outstanding. Hence this OA.

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Defendant called absent and set exparte on 09.04.2026.

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Smt. Y Radhika, Chief Manager of the Applicant Bank examined herself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to 4.6.

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arise for consideration is whether the Applicant bank is entitled for the claim made in the OA against the Defendant as prayed for?

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Defendant remained exparte.^'To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and she exhibited relevant documents as Ex.A.1 to A.6. ln view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendant and hence the Applicant Bank is entifled to recover the claim made in re interest and costs.

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*
? 3 APR 202fi

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(oA. No. 170/2026)

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ln the result, the present OA is allowed with costs, as under:

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The Defendant is liable to pay to the Applicant Bank a total sum of Rs.26,05,346.00 Ps. (Rupees Twenty Six Lakhs Five Thousand Three Hundred and Forty Six Only) with present rate of interest @12.65/o p.a with monthly rests from the date of application till the date of realization.

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The Applicant Bank is entifled to proceed against the person and properties of Defendant towards realization of the debt due.

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That Applicant Bank is entitled to the costs of the OA.

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The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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lssue Recovery Certificate accordingly.

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Communicate a copy of the order to the parties concerned.

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(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 13rh day of Apr, 2026)

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(f--e nN J^{1J ApH} zozu^*

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qb-,'-#

¶30

sd/-
(G. GOPICHAND)
PRESIDING OFFICER
A63r. R9!ft't'-
DPf.I. T'YDE'?AI,A C

Canara Bank v. Sri. Ramavath Praharsh Mark

Case brief

What is this about?

What did the court decide?

Canara Bank v. Sri. Ramavath Praharsh Mark

Case brief

What is this about?

What did the court decide?

What the court decided

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