Allowed

State Bank of India v. M/s. Devakinandan Ramesh Chand And Company.

DRT17 Aug 2026OA/180/2026

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by the State Bank of India. The court held the defendants jointly and severally liable to pay the remaining loan balance after deducting realized amounts from hypothecated vehicle sales, with future interest and costs.

What did the court decide?

Defendants jointly and severally liable to pay balance dues with future interest and costs; bank entitled to proceed against security and defendants' properties.

State Bank of India versus M/s. Devakinandan Ramesh Chand And… — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TR]BUNAL.II AT HYDERABAD DATED THIS THE 17TH DAY OF AUGUST, 2026 PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB.^(HonS.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No : 180 0F 2026

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State Bank of India., Sl4E Kattedan Branch, Industrial Estate Area Kattedan, Hyderabad - 500077. Rep. by its Authorized Signatory. .....Applica nt.

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	Versus
1.	M/s. DevakinandanRamesh Chand AndCompany.,RepbyitsPartners 2t-2-445/),6-19,Gokuldas Complex Charkaman,Mitti-Ka-Sher,Hyderabad^-500002.
2.	SriRajeshKumarKadel,S/o.Late SriDevkinandan,Agedabout50Years Male,H.No.21-2-451,Mitti-Ka-Sher charminar,Hyderabad-500002.
	Smt.MeenaDevi,Wo.RajeshKumar Kadel, Agedabout 46Years,Female H.No.21-2-451,Mitti-Ka-Sher Charminar,Hyderabad-500002. ...Defendants
	Counselforthe Applicant :Mr.C.Prabhakar
	Defendants :Ex-parte

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::^qLLE& ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.98,80,836/- i.e., a sum of Rs.74,55,748l- towards Loan A/c.No.41e378s388e *,rn "",bf#t p.a. and a

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oA.NO.180/2025

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sum of Rs.24,25,088/- towards Loan A/c. No.42295076672 with interest @9.90olo p.a. from the defendants jointly and severally with monthly rests from the date of application till the date of realization along with costs and in default for sale of hypothecated assets and attached schedule property vide order dated 77 .07 .2026 in tA t974/2026.

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Summons served on D1 to 3. They were set ex-parte on 11.06.2026 as called absent and no representation.

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The Applicant Bank examined R Y Babu, Legal Manager, as AWl and marked 14 documents through him as Ex. A.1 to Ex. A.14. It is submitted that the applicant bank realized the amount of Rs-t7,29,O0O/- by sale of hypothecated vehicle tn the auction proceedings under the SARFAESI Act.

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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 entitled for the claim made in the OA against the Defendants and OA hypothecated assets and attached schedule property vide order dated 77 .07 .2Q26 in IA r974/2026?

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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.14 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable //N-i.,*\ t),''i'"

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oA.NO.180/2025

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to pay the OA claim, Less Rs.17,29,000/- being the amount realised by way of sale of hypothecated vehicle, to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.180/2026 is allowed as under: -

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i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.98,80,836/- Less Rs.L7,29,000/realized under SARFAESI Proceedings; with future interest @13.40% 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 and attached schedule property vide order dated 77.07 .2026 in lA 1974/2026 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 balance dues;

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iv) the applicant bank is entitled for the costs.

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The Applicant Bank is directed to file Cost lvlemo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certificate accordingly. OY^*,

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oA.NO.180/2026

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Communicate a copy of this order to the parties concerned. (Dictated to the steno, correded, signed and pronounced by me in the open coun on this the 1lh Day of AuEUst, 2026).

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(,A,{#//arr _

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(RAMESHWAR KOTHE) PRESIDING OFFICER

State Bank of India v. M/s. Devakinandan Ramesh Chand And Company.

Case brief

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State Bank of India v. M/s. Devakinandan Ramesh Chand And Company.

Case brief

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