Allowed

Union Bank of India v. Abhinav Industries

DRT1 Sept 2026OA/268/2026

Case brief

AI extract

What is this about?

OA No. 268 of 2026 wherein the Debts Recovery Tribunal - IAT Hyderabad allowed the application filed by Union Bank of India for recovery of a loan facility along with future interest and costs against four respondents, including the proprietorship firm and guarantors, maintaining that the claim was substantiated.

What did the court decide?

Respondents held jointly and severally liable to pay total sum of Rs.4,39,94,224.29 with future interest; recovery certificate issued; bank entitled to proceed against mortgaged properties and persona

Union Bank of India versus Abhinav Industries — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL - IAT HYDERABAD DATED THIS THE OlSt DAY OF SEPTEMBER,2026

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA. No. 268 OF 2026

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Between :

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Union Bank Of lndia, Ramkote Branch, P.B.No. 252, H.No.4-1-1 0, 1 st Floor, Ramkote, Tilak Road,

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Hyderabad, Telangana 500001 Represented by its Branch Manager

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Applicant

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VERSUS

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M/s Abhinav lndustries Unit H. No. 3-76, Reddy Colony, Keesara Hyderabad, 500 020

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Represented by its Partners [email protected]

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Mrs. Harinarthini Jyothi Wo. Mr. Harinarthini Dinesh Kumar Age: Major, Female, Occ: Business, H.No. 1-8-220 and 1-8-221 Near Hanumantha Rao Saree Shop, Chikkadpally, Hyderabad-500020

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Mr. Harinarthini Dinesh Kumar S/o. Harinarthini Ramulu, Age: Years, Male, Occ:

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stP ?u$

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H.No. 1-8-220 and 1-8-221 Near Hanumantha Rao Saree Shop, Chikkadpally, Hyderabad - 500020

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(OA. No. 268/2026)

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4.Mr.Harinathini ShivaKumar,
S/o.Mr. Harinarthini DineshKumar Age: Major,Male,Occ: H.No. 1-8-220 and1-8-221,
Near HanumanthaRaoSareeShop, Chikkadpally,
Hyderabad500020		Defendants
Counsel forthe parties:
For TheApplicant	D.S PavanKumar
FortheDefendant	Exparte
Reservedon	17.08.2026
Pronouncedon	01.09.2026
Uploadinwebsiteon	01.09.2026

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ORDER

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The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.4,39,94,224.29. ps. (Rupees Four Crores Thirty Nine Lakhs Ninety Four Thousand Two Hundred and Twenty Four and Twenty Nine paise Only) i.e a sum of -

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future rate of interest @13.55% p.a the date of filing of this application

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(OA. No. 268/2026)

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(ii) Rs.1,17,22,881.40 with future rate of interest @13.30% p.a with monthly rests from the date of filing of this application till the date of realization

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and in default for sale of Mortgaged Property and Hypothecated Movables as mentioned in the Schedule of Property A and B to OA.

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As per the averments in the application, the Applicant Bank states that Defendant no. 1 is a Proprietorship Firm represented by its Proprietor Defendant No. 2 along with Defendants no. 3 and 4 availed Cash Credit Loan facility of Rs.3,20,00,000/- with interest @11.55%^{p.a with} monthly rests and Term Loan Facility ofRs.1,58,00,000/- repayable in 84 equated monthly installments of Rs.2,03,0001 with interest @11.30% p.a and executed necessary loan documents such as Term Loan Agreement dated 21.01.2023, Hypothecation (Goods & Debts) Agreement dated 21.01.2023 in favor of the Applicant Bank. The Defendants no. 2 and 3 stood as a Guarantor in the loan facilities availed by the Defendant No. 1 from the Applicant Bank. The Defendants created Equitable Mortgage morefully mentioned in the Schedule qf Property A to OA and executed Memorandum of .t t. .Deposit '^{of :} '..1^{Tii.fe Deeds} dated i4.06.2011 and deposited . Registered- Sald":O,,,1,99ds ;i in favor of the Applicant Bank. After , ' availing in" to"n t5citity the defendants faited to comply the ? ', ii0 r:,-:" terfis'df- sahction, h0nce the applicant bank classified the

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(OA. No. 26812026)

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account as NPA on 27.03.2025 and issued Demand Notice dated 28.03.2025 under Section 13(2) under of the SARFAEST Act, 2002 to the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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Defendants called absent and set exparte on 29.06.2026 and 17.08.2026.

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Mr. Vikas Chand Pandey, Senior Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.'l to A.39.

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6 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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Defendants remained exparte. To substantiate the case of the Applicant Bank, AW.1 , official of the Applicant Bank was examined and he exhibited relevant documents as Ex.A.1 to A.39. ln view of the above, I hold that the Applicant Bank has established their claim made in the oA against the Defendants ,^{"...; and hence} the fRRlicant Bank is entifled to recover the claim .:,' : :. made in the OA with future interest and costs. ,t: ,i j'4 . i :Lr:

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. i ;

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(oA. No. 268/2026)

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

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The Defendants no. 1 to 4 are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.4,39,94,224.29. Ps. (Rupees Four Crores Thirty Nine Lakhs Ninety Four Thousand Two Hundred and Twenty Four and Twenty Nine Paise Only) i.e a sum of -

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Rs.3,22,71,342.89 with future rate of interest @13.55o/o p.a from the date of filing of this application tlll the date of realization

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(ii) Rs.1,17,22,881.40 with future rate of interest @1330% p.a from the date of filing of this application till the date of rea lization

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The Applicant Bank is entitled to proceed against the Mortgaged Property and Hypothecated Movables as mentioned in the schedule of Property A and B to the OA towards realization of the debt due.

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also entitled to proceed against the person Defendants no. 2 to 4 and properties of towards realization of the debt due.

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(OA. No. 26812026)

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That Applicant Bank is entitled to the costs of the OA.

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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, corrected, signed and pronounced by me in the open court on this the 01s' day of Sep, 2026)

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sd/-

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(G. GOPTCHAND) PRESIDING OFF!CER

Union Bank of India v. Abhinav Industries

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Abhinav Industries

Case brief

What is this about?

What did the court decide?

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