Allowed

Indian Overseas Bank v. M/S. Briztron Softech Private Limited

DRT8 Jan 2026OA/323/2025

Case brief

AI extract

What is this about?

A Debt Recovery Tribunal allowed an overdraft application filed by Indian Overseas Bank against Defaulting corporate guarantors and individuals. The court held the bank established its claim through documentary evidence since respondents failed to file objections within the statutory timeframe.

What did the court decide?

Directed Defendants to jointly and severally pay Rs. 5,92,80,868.99 with interest, empowered for sale of hypothecated properties and levy of recovery certificate.

Indian Overseas Bank versus M/S. Briztron Softech Private… — Execution and Attachment | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL - I AT HYDERABAD DATED THIS THE 8th DAY OF JANUARY, 2026 PRESENT: sRl cuMMADt coptcHAND, pREStDtNG oFFtcER

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OA. No. 323 OF 2O2S

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Between :

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lndian Overseas Bank, Adarshnagar Branch, 5-9-30SA, paigah, plaza Building, palace Colony Road, New MLA euarters, Adarsh nagar, Basheerbagh, -.s", Hyderabad _ SO0 063. Represented by its Constituted Attorney

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VERSUS

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Applicant

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M/s. Briztron Private Limited, Resistereo of,:l:ch corPorate office, D";,. N;. ;-rr-'Itrc€/ iruiru:#:;jl:{,,r

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Also at _

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Krishe Emerald ,1::o:orr^{Main Road,} ffifrdii,x#rlirreds

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(OA. No. 3231202s)

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Thumuluri^Sridevi' Wo. Thanneeru^{Naresh Kumar'} Aged major,^{GenderFemale,} Flat No.^511, Green Court^APartments, RaghavareddY^{Function Hall,} NizamPet,^KukatPallY Hyderabad -^{500 085,Telangana'}

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Also at -

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Thumuluri^Sridevi D/o. Rama^{Rao Thumuluri,} H.No. 12-16-1, Motupalli Vari^Street, Kothapet, Guntur -5220O1,^A.P.

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Also at -

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Raghu Vamsi Fashions, Vaishnavi Wholesale^{Cloth &} Ready Merchant^{SocietY ComPlex,} Opp. Flipkart, Guntur - 522 001, A.P.

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Sandhya Rani Kasarla Wo. K. Vijay Sagar reddy, Aged Major, Gender Female, Flat No. 305, Laxmi Hi Lands, Apartments, Gangaston, Dulapally, Hyderabad, Telanagana - 500 100.

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(oA. No. 323/202s)

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Also at -

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SandhYa^{Rani Kasarla,} D.No. 15-78,^{Flat No' 405'} Universal^Towers, SwarooP^Nagar' Habisiguda,^Telangana -^{500 017'}

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Thanneeru^{Naresh Kumar,} S/o. Thanneeru^{VenkatasubbaRao'} Aged major^{Gender Male,} Flat No.^511, Green Court^APartments, RaghavareddY^{Function Hall,} NizamPet,^KukatPallY Hyderabad -^{500 085,Telangana'}

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Also at -

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Thanneeru^{Naresh Kumar} 3-26, SrinivasaPuram' Thiruchanur^Road, Tirupathi Rural, Yogimallavaram, Thiruchanoor,^Chittoor -^{517 503.}

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Also at -

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Thanneeru Naresh^Kumar, 1-98-9/3/9 & 10, Sita Corp lndia^{Pvt Ltd,} 1st and 2nd Floor, Plot No. 25 &26, Madhapur - 500 081, Telanagana.

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(oA. No. 323/202s)

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Also at -

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Thanneeru Naresh^Kumar, 752121A,3'd^Floor, Sneha residencY, Near Sai^{Baba TemPle,} Rupena Agarahara^{BommanaHalli,} Bengaluru,^Karnataka -^{560 068'}

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5. Kante Mallesh,

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S/o. Kante^Narsimha, Aged Major,^{Gender Male,} 14-1 lT,seethavarigudem, PochamPallY,^Nalgonda, Telangana- 508^284.

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b. Kante Mamatha, Wo. Kante MAllesh, Aged Major, Gender^Female 1 4-1 lT,Seethavarigudem, Pochampally, Nalgonda, Telangana- 508²⁸⁴

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Defendants

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Counsel for the Parties^:

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Reserved on

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Pronounced on Upload in

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1to5

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AlluriKrishnam Raju SriA. Prashanth Kumar Exparte

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06.01.2026 08.01.2026 08.01.2026

.^, '/t)

(oA. No. 323/202s)

ORDER

The Applicant^{Bankfiled the presentOA against Defendants for} recoveryofatotalsumofRs'5,92,80,868'99Ps'(Rupees Five Crores^{Ninety Two Lakhs Eighty Thousand Eight} Hundred Sixty^{Eight and Paise Ninety Nine Only) with} future interest @^{10.15 % p.a with monthly rests plus 2o/o penal} interest from^{01.07 -2025 till the date of realizationandin} defaultforsaleofHypothecatedMovablesandMortgaged Properties^{as mentionedin the Schedule of Properties A and B} to OA.

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Aspertheavermentsintheapplication,theApplicantBankstates thatDefendantNo.lisacompanyrepresentedbyitsDirector Defendants No.^{2 and} 3^{availedCashcredit limit of Rs'5'00} Crores with interest @^{11'15Yo p.a with monthly rests and} executed Letter^of Hypothecation^{dated 15.06.2023 in favorof} the Applicant Bank. The^{DefendantsNo. 2 to 6 stood as a} Personal Guarantor and executed^{GuaranteeAgreements} dated 15.06.2023 in favor^{of the Applicant Bank. The Defendant} No. 5 create equitable mortgage^{morefully mentionedin} Schedule of Properties A and B to OA^{and executed} Menlgrandum of Deposit of Title deeds dated^{12.06.2023 in} favor Tdrci f lt he Applicant Bank and deposited Registered^{Sale deeds} inerfavol.qf the Applicant Bank. The Defendant No. 6^create morefully mentioned in Schedule of Property 5

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(oA. No. 323/202s)

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CtooAandexecutedMemorandumofDepositofTitledeeds datedl2'06.2023infavoroftheApplicantBankanddeposited Original Gift^{deedsin favor of the ApplicantBank' After availing} the loan^{facility, the defendants failed to comply the termsof} sanction,^{hence the applicant bank classified the account as NPA} on 11.12.2024^{and issued Demand notice dated 12j22024} zto the^{defendants.lnspite of several requests and demands' the} defendants^{did not clear the outstanding'Hence this OA'}

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Sri. A. Prashanth^{Kumar filed Vakalat on behalfof Defendants} No. 1 to 5.^{Even after the lapse of 45 Days WS of Defendants} No.lto5notfiledandhencetherightoffilingofWSof Defendants^{No. 1 to 5 was forfeited on 28 11'2025'Defendant} No. 6 called^{absent and set exparteon 13 10'2025'}

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of the APPlicant^{Bank examined} 4. Sri. Amit^{Kumar Ekka, Manager} relevant documents,^whichare himself as^{AW.1 and exhibited} marked as^{Ex.A.1 to A.23.}

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Heard the Ld.^{Counsel for the Applicant Bank'}

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that arise for^{consideration is whether the Applicant} bank is' for the claim made in^{the OA againstthe} Defendants rayed for? J o,s

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(oA. No. 323l2025)

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Defendants^{no. 1 to 5 did not file their ws even after availing} sufficient time^{and hence the right of filing of WS of Defendants} No. 1 to 5 was^{forfeited. DefendantNo' 6 called absent and} set exparte.^{To substantiatethe case of the ApplicantBank'} AW.1, official of^{the Applicant Bank was examinedand he} exhibited relevant^{documentsas Ex.A'1 to A'23' ln view of the} above, l hold^{that the Applicant Bankhas establishedtheir claim} madeintheoAagainsttheDefendantsandhencetheApplicant Bank is entifled to^{recover the claim made in the oA with future} interest and costs.

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ln the result, the^{presentOA is allowed with costs, as under:}

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The Defendants^{No. 1} to 6^{are jointly and severallyliable to} pay to the Applicant Bank a total sum of^{Rs.5,92,80,868.99Ps.} (Rupees Five Crores Ninety Two Lakhs^{Eighty Thousand} Eight Hundred Sixty Eight^{and Paise Ninety Nine Only)} with future interest @ 10.15^{% p.a from 01.07.2025 tillthedate} of realization^.

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o The Applicant Bank is entitled to^{proceed against the} Hypothecated Movables and Mortgaged Property^as /r..^{4i^1.} mentioned in the Schedules of the Properties A and B to^{the OA} /{b towards realization of the debt due. {i r^$ J$li^,;fiB : i [i ,r,?.M ,r

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(OA. No. 323/202s)

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The Applicant^{Bank is also entitledto proceed against the} person and^{properties of defendantsNo' 2 to 6 and propertiesof} Defendant^{No' 1 company 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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a cost memo^{wlthin two weeks from the}

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1. The APPlicant^{shall file} date of receiPt^{of order.}

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't3. lssue Recovery^{Certiflcate accordingly'}

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Communicate^{a copy of the order to the parties concerned'} (Diclated to the P.A,^{transcribed by her, corrected' signed and pronouncedby me in the open court on} this the th^{day of Jan, 2026)}

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sdr(G. GOPICHAND) PRESIDING^OFFICER

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Indian Overseas Bank v. M/S. Briztron Softech Private Limited

Case brief

What is this about?

What did the court decide?

Indian Overseas Bank v. M/S. Briztron Softech Private Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Parties & counsel

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