Allowed

Bank of India v. M/S. Sunita Infra Projects Pvt. Ltd.

DRT15 Apr 2026OA/175/2026

Case brief

AI extract

What is this about?

In OA No. 175/2026 arising from a default under a hedity 39.09.202. The court allowed the applicant bank's application and ordered joint and severa order of recovery.

What did the court decide?

Awarded recovery of Rs. 6,79,65,348.00 with interest at 10.07% p.a.; ordered sale of hypothecated/mortgaged properties; directed issuance of Recovery Certificate.

Bank of India versus M/S. Sunita Infra Projects Pvt. Ltd. — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL - IAT^HYDERABAD DATED THIS THE 1sth DAY OF APRIL, 2026

¶2

PRESENT: SRI GUMMADI GOPICHAND,^{PRESIDING OFFICER}

¶3

OA. No. '|.75 OF 2026

¶4

Between:

¶5

Bank of lndia,

¶6

Hyderabad Main Branch, Nampally Station Road Abids, Hyderabad Represented by its Authorized Officer

¶7

Applicant

¶8

VERSUS

¶9

M/s. Sunita lnfra Projects Pvt. Ltd, Rep. by its Director, Mr. Ashok Kumar Swain,

¶10

Mrs. Sunita Swain,

¶11

H.No. 1 -'t 9-66 I 161 17 I 50318,12, Flat No. 503, Swathi Heights, Prashanth Nagar Colony, Kapra, ECIL Post Office, Hyderabad - 500 062

¶12

Mr. Ashok Kumar Swain, S/o. Debraj, Age:56 years, Occ. Business, Male, H.No. 1^-1 9-66^{I 16117 l503lBl2,} Flat No. 503, Swathi^Heights, Prashanth Nagar ColonY, Kapra, ECIL Post Office, Hyderabad - 500^062.

¶13

F-^8"<br>g lS/'pnryt
rda,r{ ;',
WmE*V

¶14

(OA. No. 175/2026)

¶15

Also at -

¶16

H.No.^{1 -1} 9-66/A-1^6/503/ll' Flat No. 503, Swathi Estates, Plot No. A-16^{& A-17,} Prashanth Nagar^ColonY, Kapra, ECIL Post Office, Hyderabad -^{500 062}

¶17

Mrs. Sunita^Swain, Wo. Ashok Kumar^Swain, Age : 48^{years, Occ. Business, Female,} H. No.^{1 -1} 9-66^{I 16117 l503lBl2'} Flat No. 503, Swathi Heights, Prashanth^{Nagar ColonY'} Kapra, ECIL^{Post Office,} Hyderabad -^{500 062}

¶18

Also at -

¶19

R/o. Flat No.^501, Municipal^{DoorNo' 1-19-66/A-9/501'} Sai Charan^ResidencY' Fifth Floor, Plot No.^A-9, Survey No.^{496 & 497'} Prashanth^{Nagar Housing ColonY'} Kapra under^{GHMC KaPra Circle and} Medchal Malkajgiri^District, Telangana^State -^{500 062'}

¶20

Ma(r--s \ J^{lsApBm *} q-b,.=',,"#

(OA. No. 175/2026)

Also at -

R/o. Flat No.^502,

Municipal^{DoorNo. 1-19-66/A-9/501} ' Sai Charan^{ResidencY,Fifth Floor'} Plot No. A-9,

¶25

Survey No.^{496 & 497'} Prashanth^{Nagar Housing ColonY'} Kapra under^{GHMCKapra Circleand Mandal'} Medchal Malkajgiri^District, Telangana^State -^{500 062.}

¶26

Also at -

¶27

R/o. Flat No.^{301,ThirdFloor'} Kalinga Court, Plot No. 70,^{SurveY No. 295'} Venkateshwara^Nagar, Malkajgiri^Circle, Malkajgiri Mandal-^{500 062}

¶28

Defendants

¶29

Counsel^{for the} Parties^:

¶30

Mr. V. Sethu^{Madhava Rao}

For The^APP|icant

Exparte

For the Defendant

13.04.2026

Reserved^on

15.04.2026

Pronounced^on

15.04.2026

Upload^{in website} ,.rrft<sup>on j lsApBzun :i A-3 &,,,"*$$# ?oi'irii%

¶40

(OA. No. 17sl2026)

¶41

ORDER

¶42

The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.6,79,65,348.00 Ps. (Rupees Six Crores Seventy Nine Lakhs Sixty Five Thousand Three Hundred and Forty Eight Only) with subsequent interest @12.07%^{(10.07% + 2% Penal) p.a with monthly rests fromthe} date of OA till the date of realization and in default for sale of Hypothecated Movables and Mortgage Properties as mentioned in the Schedule of Property A and B to OA.

¶43

As per the averments in the application, the^{ApplicantBank states} that Defendant No. 1 is a Private Limited company^represented by its Director Defendants No. 2 and 3 availed^{Overdraft facility} of Rs.6.50 Crores together with interest @9.40o/o^{p.a with} monthly rests and executed Hypothecation Agreement^dated 29.09.2023 in favor of the Applicant Bank. The^Defendants availed B.G Limit of Rs.100.00 Lakhs with^interest @9.40o/o^and executed Agreement Dated 29.09.2023ⁱⁿ favor of^{the Applicant} Bank. The Defendants No. 2 and 3 stood as a^{Guarantor and} executed Guarantee Deed dated 29.09.2023^{in favor of the} Applicant Bank. The Defendants No. 2 and 3^{createdEquitable} mentioned in Schedule B to OA and of Deposit of Title Deeds^dated ](8zor, # ,n" No. 2 and 3 deposited Original J^{15ApR2o26 *} +? t'1. , ^^:!',

¶44

W,t-**P

¶45

(oA. No. 17sl2026)

¶46

Registered Sale Deed 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 17.10.2025 and issued^{Demand Notice} dated 24.10.2025 under Section 13(2) of the SARFAESI^{Act, 2002} and the Legal notice dated 19.12.2025^{to the defendants.lnspite} of several requests and demands,^{the defendants did not clear the} outstanding. Hence this OA.

¶47

Defendants called absent^{and set exparte on 13.04.2026.}

¶48

Smt. R. Rekha, Senior Manager^{of the Applicant Bank examined} himself as AW.1 and exhibited^{relevant documents, whichare} marked as Ex.A.1 lo 4.27.

¶49

Heard the Ld. Counsel for the^{Applicant Bank.}

¶50

The point that arise for^{consideration is whetherthe Applicant} bank is entitled for the claim^{made in the OA againstthe} Defendants as PraYed^for?

¶51

Defendants remained^{exparte. To substantiatethe caseof the} Applicant Bank, AW.1, official of^{the Applicant Bankwas} relevant documents as^Ex.A.1to I hold that the APPlicant^Bankhas in the OA against the^Defendants J^lsAPn2m : W,.sry

¶52

(oA. No. 17sl2026)

¶53

and hence the Applicant^{Bank is entitledto recover the claim} made in the OA^{with future interest and costs.}

¶54

ln the result, the^{present OA is allowedwith costs, as under:}

¶55

TheDefendantsNo.lto3arejointlyandseverallyliabletopay to the Applicant^{Bank a total sum of Rs'6,79,65,348'00 Ps'} (Rupees Six Crores Seventy^{Nine LakhsSixty Five} Thousand Three^{Hundred and Fofi Eight Only)with} subsequent^interest @10.07%^{p.a from the date of OA till the} date of realization.

¶56

The Applicant^{Bank is entitled toproceed against} the AS Hypothecated^{Movables andMortgaged Properties} mentioned in the^{Schedule of Property A and B to the} OA towards realization^{of the debt due'}

¶57

The Applicant^{Bank is also entitledto proceed againstthe person} and properties^{of Defendants No 2 and 3 and properties of} Defendant^{No. 1 company towards realization of the debt due'}

¶58

That Applicant^{Bank is entitled to the costs of the OA'}

¶59

(oA. No. 17sl2025)

¶60

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

¶61

lssue Recovery Certificate accordingly.

¶62

Communicate a copy of the order^{to the parties concerned.}

¶63

(Dictated to the P.A., transcribed by her, corrected, signed and^{pronouncedby me in the opencourt on} this the 15h day of Apr, 2026)

¶64

sd/(G. GOPICHAND)

¶65

PRESIDING OFFICER

¶66

r4B
i/ rv d$
,i; i* 1s ApR a[f :
I rtf- -i.
\l&,*"4w
lorEmE

¶67

r"d'tw
,#:;';,ffi:^'

Bank of India v. M/S. Sunita Infra Projects Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Bank of India v. M/S. Sunita Infra Projects Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Juhi Mariam Jacob and others versus Auxilo Finanace Pvt. Ltd.

Indian Overseas Bank versus Mr. Burra Mahesh

Canara Bank versus M/S. Abhinav Powerloom Industry

Union Bank of India versus M/S. Bharath Furnitures

Canara Bank versus M/S.Vaagdevi Educational Society

Union Bank of India versus M/S. R.R. Gundlapalli