Allowed

Bank of India v. M/s. Parvathi Wlccs Ltd.

DRT11 Feb 2026OA/393/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application by Bank of India for recovery of Rs.28.65 lakh plus interest and costs jointly and severally from respondents, directing a Recovery Certificate based on marked documents and hypothecated assets.

What did the court decide?

Defendants jointly and severally liable to pay Rs.28,65,101.95 + future interest and costs; Recovery Certificate issued; entitlement to proceed against hypothecated assets and properties upheld.

Bank of India versus M/s. Parvathi Wlccs Ltd. — Company and Corporate | DRT (2026)

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IN THE DEBTS RECOVERY TR]BUNAL-II AT HYDERABAD DATED THIS THE 11TH DAY OF FEBRUARY, 2026 PRESENT: SH, RAN1ESHWAR KOTHE, B,COM,, L.LB. (HONS.), M.A. PRESIDING OFFICER ORIGINAL APPLICATION No: 393 OF 2025 Bank of India., Khairatabad Branch, PTI Building A C Guarads, Masab Tank Hydera bad, Telanga na State. Rep. by its Authorized Signatory. ....,Applicant.

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Versus

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lY/s. Parvathi WLCCS Ltd.,
Rep by its President, Sri. V. Bhikshapathi
H. No. 1 3-6- 1 69/60 / 127 8 I A/ 54
T Anjaiah Nagar, SPR Hills, Yousufguda
Hyderabad - 500045.
2. Sri V. Bhikshapathi, S/o. V. Yallaiah
Aged a bout 47 Years
H. No. 13-6- 169/60It278IA/54

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T Anjaiah Nagar, SPR Hills, Yousufguda
Hydera bad - 500045.

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... Defendants

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: Ms. P. Suseela Counsel for the Applicant 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.28,65,101.95ps i.e., a sum of Rs.23,48,118.38ps towards Over Draft A/c. No.860925110000049 with future lnterest @13.50o/o p.a., a sum of Rs.63,799,50ps towards Term Loan (GECL) A/c, No.86097021OOOO071 with future interest ?nr --- . '- I^'' 'i'i):,,

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oA.NO.393/2025

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@7.85o/o^p.a., a sum of^{Rs.4,53,184'07pstowards Term Loan} (FITL) Loan A/c. No.860965910000007 with future interest @10.15o/o^p.a. from the^{defendants jolntlyand severally from} the date of application till the date of realization along^with costs and in default for sale of hypothecated assets.

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Summons served on D1 and² through^{paper publication.They} were set ex-parte on 04.09.2025 as called absent and^no representation.

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The Applicant Bank examined A. Venkata^{Rayappa,Asst.} Manager, as AW-1 and marked 37 documents through him as Ex. A.1 to Ex. A.37.

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Heard the Ld. Counsel for the Applicant Bank.^{Perused the} material placed on record.

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The point that arises for consideratlon is:-

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

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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.37 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 Appliq.ant Bank with future^interest and costs. /frgtf

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oA.NO.393/202s

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In the result, the present Original Application No.393/2025 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.28,65,101.9sps i.e., a sum of Rs.23,48,118.38ps towards Over Draft A/c. No.860925110000049, a sum of Rs.63,799.50ps towards Term Loan (GECL) A/c. No.860970210000077, a sum of Rs.4,53,184.07ps towards Term Loan (FITL) Loan A/c. No.860965910000007; with future interest @10.50% 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 described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debu

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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 appllcant bank is entitled for the costs.

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

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1. Issue Recovery Certificate accordingly. 1ft0*'

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oA.NO.393/2025

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Communicate a copy of this order to the^parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the lLth Day of February, 2026).

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Bank of India v. M/s. Parvathi Wlccs Ltd.

Case brief

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Bank of India v. M/s. Parvathi Wlccs Ltd.

Case brief

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