Allowed

Canara Bank v. Sri Nagulapally Chandraiah

DRT16 Jul 2026OA/280/2026

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Originating Application filed by a bank for recovery of a housing loan principal, interest, and future interest. The defendant was absent, and the bank successfully substantiated its claim through documentary evidence, resulting in an order for payment and enforcement against mortgaged property.

What did the court decide?

Mortgaged property and defendant's property attached for realization; recovery certificate issued.

Canara Bank versus Sri Nagulapally Chandraiah — Specific Performance | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL - IAT HYDERABAD

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DATED THIS THE 16th DAY OF JULY, 2026

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA. No. 280 OF 2026

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Between :

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M/s Canara Bank, H.No. 312-5-29/1 part, First Floor, South Lalaguda Tarnaka, Secunderabad - 500 017 Represented by its Authorized Person Applicant VERSUS Sri Nagulapally Chandraiah, S/o. N. Rajalingam, Age about 59 years, Occ : Service, H.No. 6-4-446lb/1, New Bhoiguda, Bholakpur, Secunderabad - 500 080. Defendant Counsel for the parties : For The Applicant Sangeeta Jaiswal For the Defendant Exparte Reserved on 15.07.2026 Pronounced on 16.07.2026, Upload in website on 16.07. ; 1a JUL ,oz5 ; W,ttW

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(OA. No. 280/2026)

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ORDER

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The Applicant Bank filed the^present OA against Defendant for recovery of a total sum of Rs.38,85,459.15 Ps.^(Rupees Thirty Eight Lakhs Eighty five Thousand Four Hundred and Sixty Nine and Paise Fifteen Only) with future rate of interest @10.10Yo^{p.a with monthly rests inclusive of penal interest} @2% p.a from 08.04.2026 till the date of realization and in default for sale of Mortgaged Property as mentioned in the Schedule of Property to OA.

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As per the averments in the application, the Applicant Bank states that Defendant availed Housing loan of Rs.41 ,49,000/- repayable in 264 equated monthly installments of Rs.30,845/-^p.m with interest and executed Housing Loan Agreement dated 12.01 .2021 in favor of the Applicant Bank. The Defendant created equitable mortgaged morefully mentioned in the Schedule of^property to OA and executed Memorandum of Deposit of title Deeds dated 19.02.2021 and deposited the sale Deeds dated 15.01 .2021 in favor of the Applicant Bank. After availing the loan facility, the defendant failed to comply the terms of sanction, hence the applicant bank classified the account as NPA on 13.01 .2026 and Notice dated 14.01.2026 under Section 13(2) of iAn;^sffirnEQ 2002 and Legal Notice dated 31.03.2026 to the dElendant. of several requests and demands, the r the outstanding. Hence this OA. ; ( J"Anusn?m noI i':. .. Q'*tq-ry

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(oA. No. 280/2026)

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Defendant called absent and set exparte on 15.07.2026.

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Sri. Gulab Pathak, Authorized Person of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.7.

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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 Defendant as prayed for?

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Defendant 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.7. ln view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendant 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 is liable to pay to the Applicant Bank a total sum of Rs.38,85,469.15 Ps. (Rupees Thirty Eight Lakhs Eighty -^ll_:':_.'' - ';.liy."-'r..lt€S(d Four Hundred and Sixty Nine and Paise future rate of interest @8.10% p.a from ,:,,,,J^{t"ttr 6\tn} li .* 08.t4.2026 n{,rf: ti l l liiff .ttft date of realization . i,^* ^o: 3 ii;^{1 B JUL 2026} ;ll

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W*.n$l

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(OA. No. 280/2026)

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L The Applicant Bank is entitled to^proceed against the Mortgaged Property as mentioned in the Schedule of Property to the OA towards realization of the debt due.

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The Applicant Bank is entitled to^proceed against the^person and properties of Defendant towards realization of the^debt due.

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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 murt on this the 16rh day of Jul, 2026)

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sd/-

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(G. GOPTCHAND)

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PRESID!NG OFFICER

ffin%"

DRT.I, HYDERABAO,

Canara Bank v. Sri Nagulapally Chandraiah

Case brief

What is this about?

What did the court decide?

Canara Bank v. Sri Nagulapally Chandraiah

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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