Allowed

Canara Bank v. M/S. Shakthi Infra Ventures India Pvt. Ltd.

DRT14 Jul 2026OA/371/2026

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank applicant's objection against five respondents for recovery of a loan of Rs. 70.97 lakhs plus interest, holding the claim established on evidence to proceed against mortgaged property and personalties. Costs and recovery certificate issued.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 26,40,444 with future interest at 14% p.a.; entitled to proceed against mortgaged movables, properties of Defendants 2-5, and company property; costs

Canara Bank versus M/S. Shakthi Infra Ventures India Pvt. Ltd. — Company and Corporate | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL - I AT HYDERABAD

¶2

DATED THIS THE 14th DAY OF JULY, 2026

¶3

PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

¶4

OA. No. 371OF 2026

¶5

Between :

¶6

Canara Bank, Ramkrishna Math Branch, Ramkrishna Math^premises, Domalaguda,

¶7

Hyderabad-500 029

¶8

Represented by its Branch Manager

¶9

Applicant

¶10

VERSUS

¶11

M/s. Shakthi lnfra Ventures^{lndiaPrivate Limited,} Regd. Office was at Flat No.102, H No.1-2-234113/53^{to 56,} Reliance ResidencY, Domalguda,

¶12

Hyderabad-500029.

¶13

Presently at. Flat No. G7l8, H No.10-2-10, Maturu Apartments,^{AC Guards,} Khairatabad, Hyderabad^- 04.

¶14

Hyderabad - 04. 7t: ^--j::'::::'::-::' t^te!t! $,,r\ ---,,.
And havins Factory at -
i1'':' ffi 'tt
3ffiJ.X J::;tiyara viilase and Gram p,ndav"tJ 4 Jut 'nm :
Nagarkurnool Nagarkurnool Revenue District, Mandal, !' t i) '{". . $;
r..., *, l,{.11r;;,11 ).rrrnr"Illfl ,tBi/

¶15

(oA. No.371.12026)

¶16

Telangana state - 509209. Represented by its Directors Sri Swamy Puttapogu and Sri Sekhar Puttapogu. (M) e2461 85105

¶17

ema i I : shakth iinfraventu res i nd ia@gma i l. com

¶18

Sri Nalla Babu

¶19

S/o. Sri Nalla Bugulaiah,

¶20

aged about 45 years, Occ: Business, Director of M/s Shakthi lnfra Ventures lndia^pvt. Ltd. Regd. Office Presently at. Flat No. G718, H No. 10-2-10, Maturu Apartments, AC Guards, Khairatabad,

¶21

Hyderabad - 500 004.

¶22

And R/o. H No.4-6-119t$ta, Durga Nagar, Nacharam, Uppal, Medchal-Malkajgiri District-500076. Mobile No. 9346544502

¶23

Email: nallababu 1 [email protected]

¶24

Sri Baki Balaraju

¶25

S/o. Baki Savanna,

¶26

aged about 46 years, Occ: Business.

¶27

Director of M/s shakthi tnfra ventures lndia pvt. Ltd. Regd. Presently at.

¶28

Flat No. G7lB, H No. 10_2_10, .,.::- ...r".,t . :-^j- ....' Maturu Apartments, AC Guardsr;,^{' -} . .:,,^{', '. , . l.;,} Khairatabad, ,:. ",ir.'i\ $ il* 14 rur ?026 :)l i;,];?,..$"- n #.!/l ''di-tt*i$P,

¶29

(OA. No. 371l2026)

¶30

And R/o. H No.55, Naganool village, Nagarkurnool Mandal and District, Telangana 509209 Mobile No.9246185105 Email : shakth [email protected]

¶31

Sri Puttapogu Sekhar Sio. SriP. Yellaiah,

¶32

aged about 30 years, Occ: Business, Director of M/s Shakthi lnfra Ventures lndia Pvt. Ltd. Regd. Office Presently at. Flat No. G7l8, H No.^'10-2-10, Maturu Apartments, AC Guards, Khairatabad,

¶33

Hyderabad - 500 004.

¶34

And R/o. Plot / H. No. 1-60, Malachintapalle (v) Kollapur - 509't02. Mobile No. 91-96768 30184, PAN No. LSEPS9544N. Email: [email protected]

¶35

Sri Puttapogu SwamY S/o. Sri P. Yellaiah, aged about 45^{years, Occ: Business,} Director of M/s Shakthi^{lnfra Ventures lndiaPvt.Ltd.}

¶36

Regd. Office Flat No. G7l8 Maturu Khairatabad,:i.. Hyderabad ;500 004. . ttJlil_ilrf

¶37

(oA. No. 37112026)

¶38

And Rio. Plot i H. No. 1-60, Malachintapalle (v) Kollapur - 509'1 02. Mobile No. 91-90009 90067, PAN No. DCOPP1560D. Email : [email protected]

¶39

Defendants

¶40

Counsel for the parties :

¶41

For TheApplicant	V.Janardhan
FortheDefendant	Exparte
Reservedon	13.07.2026
Pronouncedon	14.07.2026
Uploadinwebsiteon	14.07.2026

¶42

ORDER

¶43

The Applicant Bank filed the present OA against Defendant for recovery of a total sum of Rs.26,40,444l- (Rupees Twenty Six Lakhs Forty Thousand Four Hundred and Forty Four Only) with rate of interest @14.00o/o p.a with monthly rests till the date of realization and in default for Property and Hypothecated movables as

¶44

le of Property to OA. 4

¶45

(OA. No. 371l2026)

¶46

¶47

As per the averments in the application, the Applicant Bank states that Defendant no. 1 is a private limited company represented by its Directors Defendants no. 2 to 5 along with Late Sri. V. Sandeep Ranjan availed loan of Rs.70,97,8241 with interest @14.00% p.a and executed Common Hypothecation Loan Agreement dated 24.05.2018 in favor of the Applicant Bank. The defendants created equitable mortgage morefully mentioned in schedule of property to OA and executed Memorandum of Deposit of Title Deed dated 16.05.2018 in favor of the applicant Bank. After availing the loan Late Sri. V. Sandeep Ranjan died and the applicant bank is not filed the present application against the said Late Sri. V. Sandeep Ranjan. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NPA on 28.11.2024 and issued Legal Notice dated 26.09.2025 to the defendants . lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

¶48

Defendants called absent and set exparte on 13.07.2026.

¶49

Sri. S. Nithin, Manager of the Applicant Bank examined himself as evant documents, which are marked

¶50

¶51

: l4JUrtozr *
t.'-z.li, -t,'-,4 ,rJ
.o ^€l
W.tu$ry

¶52

(OA. No. 37112026)

¶53

Heard the Ld. Counsel for the^{ApplicantBank.}

¶54

o. The point that arise for consideration is^{whetherthe Applicant} bank is entitled for the claim made in^{the OA against the} Defendants as^prayed for?

¶55

Defendants remained exparte. To^{substantiatethe 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.33. ln view of the above, I^hold that^{the Applicant Bankhas} established their claim made in the OA^{against the Defendants} and hence the Applicant Bank^{is entitledto recoverthe claim} made in the OA with future interest^{and costs.}

¶56

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

¶57

The Defendants no. 1 to 5 are^jointly and severally^{liable to pay} to the Applicant Bank a total sum of^{Rs.26,40,4441(Rupees} Twenty Six Lakhs Fofi Thousand Four^{Hundred and Forty} Four Only) with future rate of interest @14.00Yo^{p.a from} 07.04.2026 till the date of^realization.

¶58

L Th Bank is entitled to^proceed against the Mortgaged ecated Movables as mentioned in the to the OA towards realization of the debt I^{o't, Jut 7rv6 j} q'tt,,-$

¶59

(oA. No.377/20261

¶60

The Applicant Bank is entitled to proceed against the person and properties of Defendants no. 2 to 5 and properties of Defendant no. 1 company towards realization of the debt due.

¶61

That Applicant Bank is entitled to the costs of the OA.

¶62

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

¶63

lssue Recovery Certificate accordingly.

¶64

Communicate a copy of the order to the parties concerned.

¶65

(Dictated to the P.A , transcribed by her, corrected, signed and pronounced by me in the open court on this the 14th day of Jul, 2026)

¶66

sd/-

¶67

(G. GOPTCHAND) PRESIDING OFFICER

Canara Bank v. M/S. Shakthi Infra Ventures India Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Canara Bank v. M/S. Shakthi Infra Ventures India Pvt. Ltd.

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

Similar cases

Annapoorna Traders versus Icici Bank Limited

Veerabadhra Traders versus Unity Small Finance Bank Limited

Syed Ameenuddin versus Canara Bank

Ms Sri Raja Rajeshwari Edible Water Plant Rep by Its Prop M Swapna versus Indian Overseas Bank

Goka Sushanth Reddy versus City Union Bank Limited

Mr Lanco Wale Yadav Vikesh versus Hdfc Bank