Allowed

Bank of Maharashtra v. Mr. Gulli Stephen

DRT18 Aug 2026OA/240/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the Applicant Bank's original application for recovery of a term loan amount, future interest, costs, and permission to proceed against mortgaged property and defendants' assets after setting aside the matter ex-parte.

What did the court decide?

Defendants jointly and severally liable to repay Rs. 3,26,07,290 with future interest; claim secured by mortgage; allowed entertainment and costs; issued Recovery Certificate.

Bank of Maharashtra versus Mr. Gulli Stephen — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

¶2

DATED THIS THE 18TH DAY OF AUGUST, 2026

¶3

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

¶4

ORIGINAL APPLICATION NO: 240 OF 2025

¶5

Bank of Maharashtra., Kukatpally Branch, 201, Shenzs Arcade Besides Bahar Caf6, Hyderabad - 500029. Rep. by its Authorized Signatory.

¶6

.....Applicant.

¶7

Versus

¶8

Mr. Gulli Stephen, S/o. Mr. Gulli Samuel Aged about 45 Years, Occ: Business Gender Male, H.No.5-125/1, Plot No.4618 Behind Manjeera Road, Behind Chenna Reddy Hospital, Chanda Nagar Tirumalgiri Hyderabad - 500050.

¶9

Mr. Gulli Samuel, S/o. Mr. Gulli Venkaiah Aged about 72 Years, Occ: Business Gender Male, H.No.5-125/1, Plot No.4618 Behind Manjeera Road, Behind chenna Reddy Hospital, Chanda Nagar Tirumalgiri Hyderabad - 500050.

¶10

... Defendants

¶11

: Mr. T. S. S. Krishna Counsel for the Applicant

Defendants

: Ex-Parte

:: CLLLSL ::

The Applicant Bank filed the^present OA for the recovery a total sum of Rs.3,26,O7,29O/- towards Term Loan A/c.^No. 60437772463 from the defendants^jointly and severally^with future Interest @14.50/o^p.a. from the date of application till^the date of realization along with costs and in default for^{sale of OA} schedule^property. frff***

¶16

oA.NO.240/2025

¶17

¶18

Summons served on D1 and 2 through paper publication. They were set ex-parte on 27.07.2026 as called absent and no representation.

¶19

The Applicant Bank examined tvlanish Kumar Madhukar Bansod, Legal Manager, as AW-1 and marked 16 documents through him as Ex. A.1 to Ex. A.16.

¶20

Heard the Ld. Counsel for the Applicant Bank. perused the material placed on record.

¶21

The point that arises for consideration is:-

¶22

Whether the Applicant Bank is enti ed for the claim made in the OA against the Defendants and OA schedule property?

¶23

As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.19 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinuy and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

¶24

In the result, the present Originat Application No.24Ol2025 is allowed as under: -

¶25

i) The Defendants are joinuy and severally liable to pay to the Applicant Bank a sum of Rs.3,26,07,29O/- towards Term Loan A/c. No. 60437772463 with future interest @9.O5yo N"#

¶26

oA.NO.24Ol2O25

¶27

¶28

p.a. simple from the date of application till the date of realization;

¶29

ii) the OA claim is secured by way of mortgage of property described in the schedule annexed to the oA and the applicant bank is entitled to proceed against the same to reallse its debt;

¶30

iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

¶31

iv) the applicant bank is entitled for the costs.

¶32

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

¶33

Issue Recovery Certlficate accordingly.

¶34

Communicate a copy of this order to the^parties concerned. (Dictated to the steno, correded, signed and pronounced by me in the open court on this the 18'h Day ofAugust,2026).

¶35

/fu"'u{ (RAqESH\ iAR KorHE) PRESIDING OFFICER

Bank of Maharashtra v. Mr. Gulli Stephen

Case brief

What is this about?

What did the court decide?

Bank of Maharashtra v. Mr. Gulli Stephen

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

M/s. IndusInd Bank Limited. versus M/s. Sri Satyam Marketing

The Axis Bank Ltd. versus M/s. Khyathi Enterprises.

Hdfc Bank Ltd. versus Venkat Reddy Samala

Hdfc Bank versus M/S Santosh Rice Industries

Indian Overseas Bank versus Nidamamidi Babajan

Indian Bank versus Harinatha Reddy