Allowed

Indian Bank v. M/S Gayathri Electricals

DRT10 Feb 2026OA/316/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the OA filed by Indian Bank for recovery of debt and interest. Defendants were set ex-parte. Court directed Defendants to pay the principal amount together with subsequent interest and allowed the bank to proceed against hypothecated movables and properties for realization.

What did the court decide?

Defendants directed to pay Rs. 29,90,766.00 with future interest at 10.85% p.a. Bank entitled to proceed against hypothecated movables and properties.

Indian Bank versus M/S Gayathri Electricals — Money Laundering | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL - IAT HYDERABAD DATED THIS THE loth DAY OF FEBRUARY,2026

¶2

PRESENT: SRI cUMMAD! cOPICHAND, PRESIDtNG OFFTCER

OA. No.316 OF 2025

Between:

lndian Bank,

Hanamkonda 100 feet Road Branch, 35-6-823, Beside TV Tower Colony, Near SPR School, Hanamkonda, Represented by its Authorized Officer

¶7

Applicant

¶8

VERSUS

¶9

M/s. Gayathri Electricals A Proprietary Concern, Rep by its Proprietor,

¶10

Mrs. Kota Sunitha,

¶11

S/o. SriVenkat Reddy,

¶12

H.No.2-9-1260, Vaddepally, NGOS Colony, Hanamkonda, Warangal - 506 001.

¶13

Mrs. Kota Sunitha, Wo. Mr. Kota Raju,

¶14

Proprietor of M/s. Gayathri Electricals, Age 39 years, Occ. Business, Female, R/o. H.No. 30-2-1 1 40117 I A, SriSaiOrchid Colony, Union Bank Straight Lane, Near Success School,

¶15

Madikonda Kazipet, Warangal - 506 142

¶16

lOFEB
Defendants

¶17

(oA. No. 316/202s)

¶18

Counsel for the parties :

¶19

ForTheApplicant	Mr.V. Sethu MadhavaRao
FortheDefendant	Exparte
Reservedon	04.02.2026
Pronouncedon	10.02.2026
Uploadinwebsiteon	10.02.2026

¶20

ORDER

¶21

The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.28,90,766.00 Ps. (Rupees Twenty Eight Lakhs Ninety Thousand Seven Hundred and Sixty Six Only) together with subsequent interest @12.85o/o (5.5% Repo + 5.35% spread + 2o/o Penal) p.a with monthly rests from the date of filing of OA till the date of realization and in default for sale of Hypothecated Movables as mentioned in the Schedule Property to OA.

¶22

As per the averments in the application, the Applicant Bank states that Defendant No. 1 is a Proprietorship Firm represented by its Working Capital Loan facility of Rs.25.00 Lakhs Repo + 5.35% Spread = 11.85% p.a with ecuted Agreement for open Cash Credit 1 10 Fts 1tfr 2 i

¶23

(OA. No. 315/202s)

¶24

dated 03.08.2023 in favor of the Applicant Bank. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NPA on 14.09.2024 and issued Demand notice to the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

¶25

Defendants called absent and set exparte on 04.02.2026.

¶26

Sri Shashi Vikrant Xalxo, Senior Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.8.

¶27

Heard the Ld. Counsel for the Applicant Bank.

¶28

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?

¶29

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.8. ln -:of the above, I hold that the Applicant Bank has e in the OA against the Defendants rk tl:.1 * 10 TEB M tdt i-dr\f"

¶30

(OA. No. 315/2025)

¶31

and hence the Applicant Bank is entifled to recover the claim made in the OA with future interest and costs.

¶32

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

¶33

The Defendants No. 1 and 2 are joinfly and severally liable to pay to the Applicant Bank a total sum of present OA against Defendants for recovery of a total sum of Rs.29,90,76G.00 ps. (Rupees Twenty Eight Lakhs Ninety Thousand Seven Hundred and sixty six onry) together with subsequent interest @10.85%^{p.a from} the date of fiting of OA tiil the date of realization.

¶34

¶35

The Applicant Bank is entifled to proceed against the Hypothecated Movables as mentioned in the Schedule of Property to the OA towards realization of the debt due.

¶36

The Applicant Bank is also entifled to proceed against the person and properties of Defendant No. 2 and properties of Defendant No. 1 Firm and towards realization of the debt due.

¶37

¶38

f6-
L*
*
O TEB
d^...s

¶39

(oA. No. 316/202s)

¶40

The Applicant shall file a cost memo within two weeks from the date of receipt of order.

¶41

lssue Recovery Certificate accordingly.

¶42

Communicate a copy of the order to the parties concerned.

¶43

(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in lhe open court on this the 1orh day of Feb, 2026)

¶44

sd/-

¶45

(G. coPrcHAND) PRES!DING OFFICER

¶46

tr::#

¶47

^ar^IpynEpagAfi.

Indian Bank v. M/S Gayathri Electricals

Case brief

What is this about?

What did the court decide?

Indian Bank v. M/S Gayathri Electricals

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

Icici Bank Limited versus Mr. Avula Jayasurya

State Bank of India versus Mr. Shaik Noor Ahamed

State Bank of India versus Mr. Gollapudi Ravi Kumar

State Bank of India versus Mr. G. Ravi Kumar @ Gaddam Ravi

State Bank of India versus Mr. Boya Srinivasulu

Canara Bank versus M/S. Laxmi Devi Textiles