Allowed

Karnataka Bank Ltd. v. Mr. Basammagari Vijaya Bhaskar Reddy

DRT25 Jun 2026OA/349/2026

Case brief

AI extract

What is this about?

Bank recovery tribunal allowed an original application filed by Karnataka Bank Ltd. for recovery of dues from six joint borrowers who remained in ex-parte due. The court declared defendants jointly and severally liable.

What did the court decide?

Defendants jointly and severally liable to pay Rs.1,26,68,694.16 with future interest; claim secured by mortgaged property; recovery certificate issued.

Karnataka Bank Ltd. versus Mr. Basammagari Vijaya Bhaskar Reddy — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD

¶2

DATED THIS THE 25TH DAY OF ]UNE, 2026

¶3

PRESENT: SH. RAMESHWAR KOTHE, B.COM., L.LB.^{(HONS,), M.A.}

¶4

PRESIDING OFFICER

¶5

ORIGINAL APPLICATION NO^: 349 0F 2026

¶6

Karnataka Bank Ltd., Branch at D.No.13-3-304, 1st Floor Thakal Towers, Railway Feeder Road Ananthapur, Andhra Pradesh. Rep. by its Authorized Signatory.

¶7

.....Applicant.

¶8

Versus

¶9

Mr. Basammagari Vijaya Bhaskar Reddy, S/o. B Adi Narayana Reddy Aged about 50 Years, Occ: Business R/o. 1-302, G1 Peeran Saheb Manzil ADCC Bank Colony, Near 4th Town Police Station, Ananthapur - 515001.

¶10

Mr. Basammagari Ravi Kumar Reddy S/o. B. Adi Narayana Reddy, Aged about 47 Years, Occ: Business, R/o. Flat No.916 9th Floor, Block B, ARK Towers, Near Bus Body Unit, Madinaguda, Miyapur Hydera bad - 500050.

¶11

Smt. Basammagari Prasanna Lakshmi Wo.^{Late B Janardhan Reddy, Aged} About 45 Years, Occ: House Wife R/o. Flat No.109, Raja Hamsa Palace Apartments, Shiridi Nagar, Near RTC Bus Stand, Ananthapur - 515001.

¶12

Smt. Basammagari Sujatha Wo.^{B ViajayaBhaskar Reddy, Aged} About 43 Years, Occ: House^Wife R/o. 1-302, G1 Peeran Saheb^l.4anzil ADCC Bank Colony, Near 4th^Town Police Station, Ananthapur - 515001.

,)\l.o'""\ (_?

oA.NO.349/2026

Smt. Basammagari Lakshmi Prasanna Wo.^{B Ravi Kumar Reddy, Aged} About Major, Occ: House Wife R/o. Flat No.916,9th Floor, Block B ARK Towers, Near Bus Body Unit Madinaguda, N4iyapur, Hyderabad - 500050.

¶17

lvl r. Basammagarl Lakshmidhar Reddy S/o. Late B lanardhan, Aged about 22 Years, Occ: Business, R/o. Flat No.109 Raja Hamsa Palace Apartments, Shiridi Nagar Near RTC Bus Stand, Ananthapur - 515001.

¶18

... Defendants

¶19

Counsel for the Applicant Defendants

: Mr. N. Rama Rao

:Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,26,68,694.16ps from the defendants jointly and severally with future lnterest @13.88o/o p.a. compounded monthly from the date of application till the date of realization along with costs and in default for sale of OA schedule property.

¶24

Summons served on D1, 2 & 4 through paper publication, whereas summons served on D3, 5 & 6. They were set expade on 24.06.2026 as called absent and no representation.

¶25

The Applicant Bank examined [4 Santhosh Kumar, Branch Manager, as AW-1 and marked 18 documents through him as Ex. A.1 to Ex. A.18.

¶26

Heard the Ld. Counsel for the Applicant Bank. Perused the material^placed on record. ,4v(-t,

¶27

oA.NO.349/2026

¶28

¶29

The point that arises for consideration is:-

¶30

Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA schedule property?

¶31

As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.18 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

¶32

In the result, the present Original Application No.349/2026 is allowed as under: -

¶33

i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.1,26,68,694.16ps with future interest @5.99olo^p.a. simple from the date of application till the date of realization;

¶34

ii) the OA claim is secured by way of mortgage of property described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

¶35

iii) the applicant bank is also entitled to proceed against the person and properties of defendants for reatization ot its duesry>/$*

¶36

¶37

oA.NO.349/2025

¶38

iv) the applicant bank is entitled for the costs.

¶39

The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

¶40

Issue Recovery Certificate accordingly.

¶41

Communicate a copy of this order to the parties concerned. this the 25th Day of June, 2026).

¶42

//ff,+\

¶43

(RATVIESHWAR KOTHE) PRESIDING OFFICER

Karnataka Bank Ltd. v. Mr. Basammagari Vijaya Bhaskar Reddy

Case brief

What is this about?

What did the court decide?

Karnataka Bank Ltd. v. Mr. Basammagari Vijaya Bhaskar Reddy

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

Bank of Baroda versus M/s. Valuva.

Bank of Baroda versus varikuppala prasad

Karnataka Bank Limited versus Mr. Gantasala Siva Ramakrishna

Canara Bank versus M/S.Farmdean Hospitality LLP

State Bank of India versus Mrs. Sampangi Nagalakshmamma

Hdfc Bank versus Nadida Ipathi Reddy