Allowed

Canara Bank v. M/s. Teknik Enterprises.

DRT10 Mar 2026OA/456/2025

Case brief

AI extract

What is this about?

Debt Recovery Tribunal-II at Hyderabad disposed of Original Application No. 456/2025 by Canara Bank against three defendants absconding after summons by publication. The Tribunal held the defendants jointly and severally liable to pay the loan amount with interest. It granted relief for recovery from properties and person, directed cost submission, and ordered issuance of a recovery certificate.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 24,85,442 with interest; Applicant entitled to proceed against OA schedule properties and persons; Recovery Certificate issued.

Canara Bank versus M/s. Teknik Enterprises. — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

¶2

DATED THIS THE 1OTH DAY OF MARCH, 2026

¶3

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

¶4

PRESIDING OFFICER

¶5

ORIGINAL APPLICATION No: 456 OF²⁰²⁵

¶6

Canara Bank.,

¶7

Secunderabad Cantonment Branch Secunderabad, Telangana State. Rep. by its Authorized Signatory. '....Applicant.

¶8

Versus

¶9

1.M/s.TeknikEnterPrises., RepresentedbyitsPartners PlotNo.21, JupiterColonY, Sikh Village,NearDelhiPublicSchool DiamondPoint, Secunderabad-500009.
2.HelenStellaPillaY,^W/o.Late Benedict Pillay, Aged^Major Occ:Business,^{PlotNo.21, JupiterColony} SikhVillage,^{NearDelhiPublicSchool} DiamondPoint,Secunderabad-500009.
3.AkshayArul^{PillaY,W/o.Late} Benedict Pillay, Aged^Major Occ:Business,^{PlotNo.21, JupiterColony} SikhVillage,Near^{DelhiPublic School} Diamond Point,Secunderabad-500009.^"'Defendants

¶10

Counsel for the Applicant : Mr. T. Nagender : Ex-Parte Defendants

¶11

:: 9-L t)-L&^::

¶12

1'TheApplicantBankfiledthepresentoAfortherecoveryatotal sum of Rs.24,85,442/-^{towards Overdr{!} ..^Loan -/^ '-,^{from the} i"r-' - \r^..^'

¶13

oA.NO.4s61202s

¶14

defendants^jointly and severally with future interest @12olo p.a. compounded monthly from 2t.04.2025 till the date of realization along with costs and in default for sale of OA schedule properties.

¶15

Summons served on D1 to 3 through paper publication. They were set ex-parte on 24.09.2025 as called absent and no representation.

¶16

The Applicant Bank examined M.Karthik Varenya, Manager, as AW-1 and marked 118 documents through him as Ex. A.1 to Ex. A.118.

¶17

Heard the Ld. Counsel for the Applicant Bank. perused the material placed on record.

¶18

The point that arises for consideration is:-

¶19

Whether the Applicant Bank is entiiled for the claim made in the OA against the Defendants and OA schedule properties?

¶20

As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs, A.1 to A.118 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.

¶21

In the result, the present Origj4gl Application No.456/2025 is attowed as under: Mtr\

¶22

¶23

oA.NO.4s61202s

¶24

i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.24,85,442l- towards Overdraft Loan with future interest @12olo p.a. simpte from the date of application till the date of realization;

¶25

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

¶26

iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

¶27

iv) the applicant bank is entitled for the costs.

¶28

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

¶29

Issue Recovery Certifi cate according ly.

¶30

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 10th Day of March, 2026).

¶31

ffif,''u'' ESHWAR KOTHE) PRESIDING OFFICER

Canara Bank v. M/s. Teknik Enterprises.

Case brief

What is this about?

What did the court decide?

Canara Bank v. M/s. Teknik Enterprises.

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

Yes Bank Limited versus M/s. Satya Sai Transport

Bank of Baroda versus Boddu Arvind Kumar

Idfc First Bank Limited versus Payzigo Fintech Pvt. Ltd.

Canara Bank versus M/s. Sri Sai Silk Sarees.

Union Bank of India versus Sundarapalli Venkataiah

M/s. Yes Bank Limited. versus Ms. Padal Bhavya