Allowed

Union Bank of India v. M/s. Medha Coir Industries

DRT15 Jul 2026OA/8/2026

Case brief

AI extract

What is this about?

In an ex-parte original application for debt recovery, the Tribunal examined bank documents to establish the claim. Holding the defendants jointly and severally liable for dues and hypothecated assets, the Tribunal allowed the application for recovery of principal plus interest and costs. A recovery certificate was directed.

What did the court decide?

Defendants directed to jointly and severally pay Rs.42,54,447.81 with future interest and costs; bank authorized to proceed against hypothecated assets and defendants' properties; recovery certificate

Union Bank of India versus M/s. Medha Coir Industries — Specific Performance | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-]I AT HYDERABAD DATED THIS THE 15TH DAY OF JULY, 2026

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L,LB.^(Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 0B OF 2026

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Union Bank of India., Madhuranagar Branch, 8-3-224 /21 701 G1, G2, G3, M R Residency, Yousufguda N4ain Road, Madhura Nagar, Hyderabad-500045, TS. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s. Medha Coir Industries., Prop. Mrs. Vind la Rajeswari Aged 38 Years, Female, Sy.No.104/4 Marripalli Village, Abdullahpurpet Mandal, Rangareddy - 501505, T.S.

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Mrs. Vindla Rajeswari, C/o. Vindla Manohar, 3-5-906/1, Aged 38 Years Female, Flat No.206, N4ithali Apartments Narayanaguda, SBI Bank Back Side Himayatnagar, H yd e ra bad^- 500029, TS.

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.,. Mrs. Vindla Manjula, C/o. Vindla Manohar, 3-5-906/, Female, Flat No.206 Mithali Apartments, Narayanaguda, SBI Bank Back Side, Himayatnagar Hydera bad- 5000 29, TS.

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Mr. Karna Sudhakar Reddy, S/o. Karna Obi Reddy, Aged 42 Years, lYale Flat No.206, 1.4 itha li Apartments Narayanaguda, SBI Bank Back Side Himayatnagar, H yd era bad- 5 00 0 29, TS.

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... Defendants

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Counsel for the Applicant : lvlr. Srinivasa Rao Chakrala

Defendants

:Ex-parte

oA.NO.08/2026

::^qLq]L&::

The Applicant Bank filed the^present OA for the^{recoverya total} sum of Rs.42,54 ,447.81ps i.e., a sum of^{Rs.18,88,978.71ps} towards A/c. No.171216180000005 and a sum^of Rs.23,65,469. 10ps towards A/c.No. 171216180000013^{from the} defendants^jointly and^{severallywith future interest} @11.8090 & 13.80o/o^p.a. from 07.O4.2025 till^{the date} of^{realizationalong} with costs and in default for sale of^{hypothecated assets.}

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WS of D1 to 4 not filed hence, their right^{was forfeitedon} 03.07.2026 and DE of^D1 to 4^not filed^{hence, their rightwas} forfeited and were set ex-parte on 74.07.2026^{as called absent} and no representation.

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The Applicant Bank examined R^{Rama Krishna, Senior Branch} Manager, as AW-1 and marked 44 documents through^himas Ex. A.1 to Ex. 4.44.

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Heard the Ld. Counsel for the Applicant^{Bank. Perused the} written arguments and 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 assers?

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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.44 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^{severallyliable} ).t

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oA.NO.08/2026

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to^pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.08/2026 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a totat sum of Rs.42,54,447.81ps i.e., a sum of Rs.18,88,978.71ps towards A/c. No. 171216180000005 and a sum of Rs.23,65,469.10ps towards A/c, No. 171216180000013; with future interest @10.55olo 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 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 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 with in 2 weeks from the date of receipt of this Order. ,Y."A

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Issue Recovery Certificate accordingly

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oA.NO.08/2026

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Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 15th Day of July, 2026).

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.$A

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Union Bank of India v. M/s. Medha Coir Industries

Case brief

What is this about?

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Union Bank of India v. M/s. Medha Coir Industries

Case brief

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