Allowed

Canara Bank v. Smt. Myadari Ashwini

DRT11 Feb 2026OA/400/2025

Case brief

AI extract

What is this about?

The Tribunal heard an Origin Application filed by Canara Bank for recovery of dues amounting to Rs. 54,68,139.48 with interest. The defendants appeared ex parte. The Tribunal found the bank's claim substantiated and allowed the application, directing repayment and recovering costs.

What did the court decide?

Order allowed; Defendants directed to pay Rs. 54,68,139.48 + interest at 8.70% p.a.; Recovery Certificate to be issued.

Canara Bank versus Smt. Myadari Ashwini — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL - IAT HYDERABAD DATED THIS THE 1lth DAY OF FEBRUARY,2026

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PRESENT: SRt cUMMADt cOpICHAND, pREStDtNG OFFICER

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OA. No. 400 OF 2025

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Between:

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Canara Bank, Narayanaguda Branch, P.B. No. 1 048, 3-5-168-1234, Opp. Shanti Talkies,

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Narayanguda, Hyderabad - 500 029 Represented by its Authorized Officer

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Applicant

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VERSUS

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Smt. MyadariAshwini Wo. Narender Kasaram, R/o. H.No. 8-6-207,^plot no. 239, Road No. 06, Phase -1, FCI Colony, Vanasthalipuram, KV Ranga Reddy Dist. S00 O7O, Telangana.

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Also at -

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Flat No. 202,znd Floor, J.V.R pride, Plot No. 145 & 146, Sy No. 223 &224, Vijayapuri Colony^phase l, Saheb Nagar Kalan Village, Hayath Nagar Revenue Mandal Ranga Reddy Dist.

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Ward No. 05, Block No. 03 of GHMC, LB Nagar Circle, Vanasthalipuram - 500 070.

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(OA. No. a00l202s)

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Sri. Narender Kasaram, S/o. Ramulu Kasaram, R/o. H.No. 8-6-207,^ptot no.239, Road No. 06,^phase -1, FCI Colony, Vanasthalipuram,

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KV Ranga Reddy Dist. 500 O7O, Telangana.

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Also at -

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Flat No. 202,2nd Fbor, J.V.R pride, Plot No. 145 & 146, Sy No. 223 &224, Vijayapuri Colony^phase l, Saheb Nagar Kalan Village, Hayath Nagar Revenue Mandal Ranga Reddy Dist. Ward No. 05, Block No. 03 of GHMC, LB Nagar Circle, Vanasthalipuram - 500 070.

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Defendants

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Counsel for the parties :

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For The Appticant Dr. K. Manikyamba For the Defendant Exparte Reserved on 04.02.2026 Pronounced on 11.02.2026

Upload in website on

11.02.2026

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(oA. No. 400/202s)

ORDER

The Applicant Bank fired the present oA against Defendants for recovery of a total sum of Rs.54,6g,139.4g ps. (Rupees Fifty Four Lakhs Sixty Eight Thousand One Hundred Thirty Nine and Paise Forty Eight Only) together with interest @g.7}o/o p.a with monthry rests from the date of firing of oA ti[ the date of

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realization and in default for sale of Mortgaged property as mentioned in the Schedule property to OA.

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As per the averments in the application, the Applicant Bank states that Defendants availed Housing Loan facility of Rs.56.00 Lakhs with interest @6.90% p.a with monthly rests and executed General Loan Agreement dated 14.12.2020 in favor of the Applicant Bank. The Defendants created equitable mortgage morefully mentioned in Schedule to OA and executed Memorandum of Deposit of rifle Deeds dated 30.12.2010 in favor of the Applicant Bank and deposited Registered sare Deed in favor of the Applicant Bank. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NpA on 12.06.2025 and issued Demand notice dated 17.06.2025 under Section 13(2) of the SARFAEST Act, 2002 and Legat Notice dated 22.07.2025 to dants. lnspite of several requests and demands, the not clear the outstanding. Hence this OA.

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d.'
iy

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11 tEB^{m^}

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(oA. No.400/202s)

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Defendants called absent and set exparte on 04.02.2026.

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Mr. B.E. Phani Kumar, Chief Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.14

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arise for consideration is whether the Applicant bank is entitled for the claim made in the OA against the Defendants as prayed for?

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Defendants remained exparte. To substantiate the 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.14. ln view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants and hence the Applicant Bank is entifled to recover the claim made in the OA with future interest and costs.

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ln the result, the present OA ls allowed with costs, as under:

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The Defendants No. 1 and 2 are joinfly and severally liable to pay to the Applicant- Bank a total sum of present OA against for recovery of a total sum of Rs.54,68,139.48 Ps. Four Lakhs Sixty Eight Thousand One f.4f/^nP H red ine and Paise Fofi Eight Only) together with i* 11 i :t r.,1.1 '_.:;r

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(oA. No. a00l202s)

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interest @8.70% p.a from the date of fiting of OA tiil the date of realization

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The Applicant Bank is entifled to proceed against the Modgaged Property as mentioned in the Schedule of property to the OA towards realization of the debt due.

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The Applicant Bank is also entifled to proceed against the person and properties of Defendants No. 1 and 2 towards realization of the debt due.

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

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

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lssue Recovery Certificate accordingly.

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Communicate a copy of the order to the parties concerned.

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(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this lhe 11th day of Feb, 2026)

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sd/(c. GoPtcHAND) PRESIDING OFFICER

Canara Bank v. Smt. Myadari Ashwini

Case brief

What is this about?

What did the court decide?

Canara Bank v. Smt. Myadari Ashwini

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

Parties & counsel

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Case details

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