Allowed

Indian Bank v. S R Pharmaceutical Lab

DRT9 Jul 2026OA/26/2026

Case brief

AI extract

What is this about?

This order allowed a Debt Recovery Tribunal's Original Application for recovery of MSME tenure loan. The court, hearing on ex-parte basis where defendants did not appear, found that the evidence conclusively established the claim, holding defendants liable for the principal sum, future interest, and costs.

What did the court decide?

Directing Defendants to pay Rs.62,15,558/- with future interest and costs; Recovery Certificate to be issued.

Indian Bank versus S R Pharmaceutical Lab — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE O9TH DAY OF JULY, 2026 PRESENT: SH. RAIT4ESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

¶2

ORIGINAL APPLICATION No: 26 OF 2026

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M/s. Indian Bank., Karmanghat Branch, 8-13, Mythripuram Colony, Karmanghat, Hyderabad - 500079. Rep. by its Authorized Signatory.

¶4

.....Applica nt.

¶5

Versus

¶6

M/s. S R^{pharmaceutical} Lab., Represented by its proprietor Sabavath Rajeshwar, H.No.5_5_35/164 Shop No. 5-2,^plot Nos. 13 & 14 Prashanth Na9ar, Kukatpally, Hyderabad-500072.

¶7

Sabavath Rajeshwar, S/o. S. Chandya Aged about 46^years, Occ: Business

¶8

H. No.5-5-35/164, Shop No. 5_2, ptot Nos. 13 & 14 Prashanth Nagar, Kukatpalty, Hyderabad_500072.

¶9

... Defendants

¶10

Counsel for the Applicant

:Dr.CSChakravarthy

Defenda nts

:Ex-parte

:: oRDER ::

The Applicant Bank filed the present OA for the recovery of a sum of Rs.62,15,558/- towards MSME Term Loan from the defenda nts jointly and severally with future interest @14.90yo p.a. from 77.10.2025 till the date of realisation along with costs.

¶16

Summons served on D1 and 2 through paper publication. They were set ex-parte on 25.06.2026 as called absent and no representation. .4"t ,u ,/-/o*<sup>r"

¶17

OA.No,2612026

¶18

The Applicant Bank examined Kona Vijay Kumar, Legal Manager as AW-1 and marked 11 documents through him as Ex. A.1 to Ex. A.11.

¶19

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

¶20

The point that arises for consideration is:-

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Whether the Applicant Bank is entided for the claim made in the OA against the Defendants?

¶22

As stated supra/ the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.11 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 to pay the OA claim to the Applicant Bank with future interest and costs.

¶23

In the result, the present Original Application No.26/2026 is allowed as under: -

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i) The Defendants are joinfly and severally liable to pay to the Applicant Bank a sum of Rs.62,15,55g/_ towards MSME Term Loan with future interest @10.450/o p.a. simple, from the date of application till the date of realization;

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ii) the applicant bank is also enti ed to proceed against the person and properties ef the defendant for reatization of its dues; @O*

¶26

OA.No.2612025

¶27

iii) the applicant bank is entitled for the costs.

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

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Issue Recovery Certificate accordingly.

¶30

Communicate a copy of this order to the parties concerned. (Dictated to the steno., transcribed by him, corrected, signed and pronounced by me in the open court on this the 09th day of July,2026l.

¶31

fls*u

¶32

(RAMESHWAR KOTHE) PRESIDING OFFICER

Indian Bank v. S R Pharmaceutical Lab

Case brief

What is this about?

What did the court decide?

Indian Bank v. S R Pharmaceutical Lab

Case brief

What is this about?

What did the court decide?

What the court decided

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