Allowed

Central Bank of India v. M/s. Sri Laxmi Agencies

DRT1 Jul 2026OA/324/2026

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application for recovery of Rs. 89,84,407. Despite defendants' absence, the court held them liable based on the evidence affidavit and marked documents, ordering payment with interest, claim against hypothecated assets, and a recovery certificate.

What did the court decide?

Defendants ordered to pay Rs. 89,84,407 with interest; recovery certificate issued to proceed against hypothecated assets and personal properties.

Central Bank of India versus M/s. Sri Laxmi Agencies — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD

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DATED THIS THE 1ST DAY OF JULY, 2026

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PRESENT: SH. RAMESHWAR KOTHE, B.Com. L.LB. (Hons.), M,A, PRESIDING OFFICER

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ORIGINAL APPLICATION No: 324 OF 2026

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CENTRAL BANK OF INDIA Having its central office at Chandermukhi Building, Narimanpoint, Mumbai-400021, And among other places, At Vanasthalipuram Branch, HYDERABAD and represented by General Power of Attorney holder

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......Applicant

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Versus

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M/s. Sri Laxmi Agencies Rep by its Proprietor Mrs. Gunti Sanjana R/o. H.No.7-1BB/A, Pasumamula Road, Peddamberpet, Abdulla purmet, Hyderabad - 501505, Telangana State.

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Mrs. Gunti Sanjana, Wf o, Jeevan, Aged about 30 years, Sex: Female, Occ.: Business, R/o. Flat No. 103, GVR Residency, Mansoorabad, Opp. SBI Bank Lane, Hyderabad - 500068, Telangana State. ....Defendants

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Counsel for the Applicant : M/s. Momin Mohammed Rafiq Defendants : Ex-pa rte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs. 89,84,407/- from defendants 1 & 2^jointly and ffi*'

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oA.NO.32412026

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severally with future interest @ (9.80o/o * 2o/o penal) p.a. with monthly rests from the date of application till the date of realization along with costs, and in default sale of oA hypothecated assets.

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Summonses served on Defendants 1 & 2 through paper publication and were set exparte on 25.06.2026 as called absent and no representation.

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The Applicant Bank examined Mr. B. Narasimha Rao Naik, Branch Manager, as AW-1 and marked 14 documents through them as Ex.A.1 to Ex.A.14.

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Heard Learned Counsel for the Applicant. Perused the material placed on record.

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The point that arises for consideration is: -

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated assefs?

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.14 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are liable to pay the oA craim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.324/2026 is allowed as under: - 7ffi*

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oA.NO.324l2026

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i) The Defendants 1 & 2 are jointly and severally liable to pay to the Applicant Bank a sum Rs. 89,84,4071- with future interest @ 9.35o/o p.a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of hypothecation of assets, as described in the schedules annexed to the OA and applicant bank is entitled to proceed against the same for realisation of dues;

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iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

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iv) 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,

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Communicate a copy of this order to the^parties concerned. (Dictated to the steno, corrected, signed and pronounced by meln lfe open court pn thisthel'tDayof Jury,2026).

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/lW.tt* (MMESHWAR KOTHE) PRESIDING OFFICER

Central Bank of India v. M/s. Sri Laxmi Agencies

Case brief

What is this about?

What did the court decide?

Central Bank of India v. M/s. Sri Laxmi Agencies

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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