Allowed

Bank of India v. M/s. Sri Shiva Shankar Stone Cutter Wlccs Ltd.

DRT23 Apr 2026OA/395/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application filed by Bank of India for recovery. The Court held respondents jointly and severally liable to pay the overdraft amount, interest, and costs, and directed issuance of a Recovery Certificate.

What did the court decide?

Defendants ordered to pay Rs. 28,29,547.40 plus interest; bank entitled to proceed against hypothecated assets; recovery certificate issued.

Bank of India versus M/s. Sri Shiva Shankar Stone… — Contract and Commercial Disputes | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 23RD DAY OF APRIL, 2026

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), T4.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 395 OF 2025

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Bank of India., Khairatabad Branch, Hyderabad, Tela nga na. Rep. by its Authorized Signatory. .....Applicant.

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Versus

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M/s. Sri Shiva Shankar Stone Cutter WLCCS Ltd., Rep by its President Sri Pallapu Venkanna, H.No.73-6-449 / 2 Gudimalka^pu r, Mehdipatnam Hyderabad - 500067.

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Sri Pallapu Venkanna, S/o. P. Rama Swamy, Aged about 41 Years H. No.13-6-449/2, Gud imalkapur Mehdipatna m, Hyderabad - 500067. President of lY/s.Sri Shiva Shankar Stone Cutter WLCCS Ltd.

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Sri S. Madhusudhan, S/o. Ramaswamy Aged about 44 Years, Gudimalkapur Mehdipatna m, Hyderabad - 500067.

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. .. Defendants

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: I4s. P. Suseela Counsel for the Applicant

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Defendants : Ex- parte

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:: qLLE& ::

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The Applicant Bank filed the^present OA for the recovery a total sum of Rs.28,19,547.40ps towards Over Draft A/c. No. 860925110000029 from the defendants^jointly,and severally

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oA.NO.395/2025

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with future interest @13.75olo p.a. plus 2olo penal interest wlth monthly rests 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 to 3 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 Anusree B, Legal Manager, as AW-1 and marked 20 documents through her as Ex. A.1 to Ex. A.20.

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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.20 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.

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In the result, the present Original Application No.395/2025 is arrowed as under: - (l$,t*

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oA.NO.395/2025

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i) The Defendants are^jointly and severally liable to^pay to the Applicant Bank a^{sum of} Rs,28 ,79 ,547 .40ps towards Over Draft^A/c. No. 860925110000029 with future^interest @13.75olo^p.a. simple^{from the date of} application till the date of realization;

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ti) 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 debt;

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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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The Applicant Bank is directed to Rle 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^{partiesconcerned.} (Dictated to the steno, corrected, siSned and pronounced by me in the open court^on this the 23'd Day ofApril,^2026).

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fiirry.^,,$ ,i#r)J,,, PRESIDING OFFICER

Bank of India v. M/s. Sri Shiva Shankar Stone Cutter Wlccs Ltd.

Case brief

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Bank of India v. M/s. Sri Shiva Shankar Stone Cutter Wlccs Ltd.

Case brief

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