Allowed

Canara Bank v. Sri Satyanaryana Swamy Agencies

DRT21 Apr 2026OA/20/2026

Case brief

AI extract

What is this about?

DA in debt recovery application filed by Canara Bank against borrowers for outstanding dues. Court allowed OA and directed respondents to pay recovered dues with interest and authorized sale of hypothecated vehicles and mortgaged properties for realization.

What did the court decide?

Defendants jointly and severally liable to pay outstanding amount with future interest; respondent bank entitled to proceed against scheduled properties; recovery certificate issued.

Canara Bank versus Sri Satyanaryana Swamy Agencies — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL -I AT HYDERABAD DATED THIS THE 2181 DAY OF APRIL, 2026

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PRESENT: SRI cUMMADI cOpICHAND, pRESIDtNG OFFTCER

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OA. No. 20 OF 2026

¶4

Between ;

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Canara Bank, Luxettipet Branch, S.V. Complex, Opp. Telangana Grameena Bank, Utkoor, Luxettipet - 504 215. Represented by its Principal Officer

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Applicant

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VERSUS

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M/s. Sri Satyanarayana Swamy Agencies, Proprietor. Mr. G. Venkatesham Goud, H.No. 6-1 16nlA, Uthkoor, Dandepalle, Luxettipet,

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Mancherial District - 504 215

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Mr. G. Venkatesham Goud S/o G. Malla Goud, H.No.2-42,

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Avadam Village,

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Nennal Mandal, Mancherial - 504 204.

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Also at -at -- H.No.2-3312, Utukur, mq Luxettipet, Mancherial Telangana - 504 215 ;21APR2m; %tW

¶14

Also at -at --

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(oA. No. 2012026)

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GaripalliRajyalaxmi, Wo. Venkatesham Goud, H.No. 2-42, Avadam Village, Nennal Mandal, Mancherial - 504 204.

¶17

Also at -

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H.No.2-3312, Utukur, Luxettipet, Mancherial Telangana - 504 215

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Defendants

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Counsel for the parties :

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For The Applicant AlluriKrishnam Raju For the Defendants Exparte Reserved on 20.04.2026 Pronounced on 21.04.2026 Upload in website on 21.04.2026

¶22

ORDER

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The Applicant Bank fired the present oA against Defendants for recovery of a total sum of Rs.1,46,4g,217.64t- (Rupees One Crores Forty Six Lakhs Forty Eight ihousand Two Hundred Seventeen our Only) as on 01.12.2025 with

¶24

future ly rests from 01.12.2025

2 1 APA^2[28 ;. t,

(oA. No. 2012026)

till the date of realization and in default for sale of Hypothecated Vehicles and Mortgaged^property as mentioned in the Schedule AtoCtoOA.

¶29

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As per the averments in the application, the Applicant Bank states that the defendant no. 1 is a Proprietorship firm represented by its Proprietor Defendant no. 2 availed cash credit facility of Rs.5.00 Lakhs with interest and executed Common Hypothecation Agreement dated 04.09.2021 in favor of the Applicant Bank. The Defendant renewed and enchanted the above mentioned cash credit facility to Rs.80.00 Lakhs with interest and executed Supplemental Common Hypothecation Agreement dated^'12.09.2024 in favor of the Applicant Bank. The Defendant availed Housing loan of Rs.36.00 Lakhs repayable in 36 monthly installments of Rs.25,289/- with interest and executed Housing loan Agreement dated 16.06.2022 in favor of the Applicant Bank. The Defendant availed vehicle loan of Rs.11.00 Lakhs repayable in monthly installments with interest and executed Car Vehicle Loan Agreement dated 19.10.2023 in favor of the Applicant Bank. The Defendant availed vehicle loan of Rs.85,0001 repayable in monthly installments with interest and executed Vehicle Loan Agreement dated 18.09.2024 in favor of the Applicant Bank. The defendants created equitable ly described in Schedule A to the OA and m of Deposit of Title Deeds dated .202 Applicant Bank and deposited Original favor of the applicant bank. After ilT,"?E^{frfl"2m6.*:\yn}

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(oA. No. 2012025)

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availing the loan facilities, the defendant no. 1 failed to comply the terms of sanction, hence the applicant bank classified the account as NPA on 19.07.2025 and issued Demand notice on 22.08.2025 under Section 13(2) of the SARFAEST Act, 2OO2 to the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

¶33

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Defendants called absent and set exparte on 09.04.2026.

¶35

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Sri. Burada Govinda Rao, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.22. During the pendency of OA the applicant filed Memo dated 20.04.2026 stating that the Applicant Bank sold the property under SARFAEST Act, 2002 and recovered Rs. 1, 1 2, 93, 580/- towards part Satisfaction.

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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 Defendants as prayed for?

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remained exparte. To substantiate the case of the
AW.1, official of the Applicant Bank was
exhibited relevant documents as Ex.A.1 to
/,f ;;"W.; "B<br>above, I hold that the Applicant Bank has
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-..." \ -:o'.1;.. .f.,fi1 ,/,
''--l- i .5rrr.:i''- r$:,f-
-:r:jp1, , *!;r-
. :.:;g;;,::*r

¶40

(oA. No.20/2026)

¶41

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.

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

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The Defendant nos. 1 to 3 are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.r ,46,49,211.641- (Rupees one crores Forty six Lakhs Forty Eight rhousand rwo Hundred seventeen and^paise sixty Four only) as on 01.12.2025 with future interest @ 13.40%p.a from 01.12.202s till the date of realization Less a sum of Rs.1,i2,g3,5go/recovered by sale of property under SARFAESI Act, 2002.

¶44

The Applicant Bank is entitled to proceed against the Schedule mentioned Hypothecated Vehicles as mentioned in Schedule B and C to OA towards realization of the debt due.

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The Applicant Bank is also entitled to proceed against the person and properties of defendant nos. 2 and 3 and the properties of defendant no. 1 firm towards realization of the debt due.

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Bank is entitled to the costs of the OA.
!i ,,f' tt,tffi "' *=ffi'<br>{i; z 1 rPn 2o26 i
5

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(oA. No. 2ol2026)

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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, co,ected, signed and pronounced by me in the open court on this the 21st day of Apr, 2026)

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ffi<br>* 21APRzms :
A - o.s,
W"-P

¶54

sd/_ (G. GOPTCHAND) PRESIDING OFFICER

¶55

nry#y

¶56

DDr_!. HYDERAET.D.

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Canara Bank v. Sri Satyanaryana Swamy Agencies

Case brief

What is this about?

What did the court decide?

Canara Bank v. Sri Satyanaryana Swamy Agencies

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

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