Allowed

Canara Bank v. Mr. Ramavath Laxma and others

DRT9 Sept 2026OA/475/2026

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application filed by Canara Bank against two agriculturists for recovery of Rs. 24,64,051.00 along with interest, approving sale of mortgaged property and issuance of a recovery certificate after an ex parte hearing.

What did the court decide?

Defendants jointly and severally liable to pay Rs.24,64,051.00 with interest; right to proceed against mortgaged property; Order allowed with costs; Recovery Certificate issued.

Canara Bank versus Mr. Ramavath Laxma and others — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL - IAT HYDERABAD DATED THIS THE Ogth DAY OF SEPTEMBER, 2026

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA. No. 475 OF 2026

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Between :

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Canara Bank, Jadcherla branch, No 1 188 to 92, Netaji Road, Badepally Village, Jadcherla, Telangana 509301 Represented by its Authorized Officer Applicant VERSUS 1. Mr.Ramavath Laxma s/o Cheenya, Aged 58years, Male, Occ: Agriculturist, Rio 1-58, Rallacherivu Thanda, Mahbubnagar, Telangana - 509301 2. Mr.Ramavath Ramesh s/o Laxma, Aged Major, Male, Occ: Agriculturist, R/o 1-58, Rallacheruvu Thanda, Mahbubnagar, Telangana - 509301 Defendants

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(OA. No. 47sl2026)

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Counsel for the^{parties :}

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For TheApplicant	N.lndira
FortheDefendant	Exparte
Reservedon	07.09.2026
Pronouncedon	09.09.2026
Uploadinwebsiteon	09.09.2026

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ORDER

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The Applicant Bank filed the^present OA^{against Defendants for} recovery of a total sum of Rs.24,54,051^{.00. Ps. ( Rupees Twenty} Four Lakhs Sixty Four Thousand^{and Fifty One Only)with} future rate of interest @12.85Yo^{p.a with monthly rests along with} penal interest @2%o p.a from 11.06.2026 till the^{date of} realization and in default for^sale of^{Mortgaged Property as} mentioned in the Schedule of^{Propertyto OA.}

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in the .Rs.20;00,000/-^{with interest} @12.85%o^{p.a and executed Loan} ,...-...rAoreemdif dated.J0.01 .2023 in^{favor of the ApplicantBank.} asa

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(OA. No. 475/2026]|

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availed by the Defendants and executed Guarantee Agreement dated 10.01 .2023 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 Deeds dated 15.12.2022 and deposited Registered Sale 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 and issued Legal Notice dated 09.01 .2026 lo the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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Defendants called absent and set exparte on 07.09.2026.

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Sri. S. Prashanth Kumar, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.11.

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Heard the Ld. Counsel for the Applicant Bank.

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The for consideration is whether the Applicant bank the claim made in the OA against the for?

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(oA. No. a7sl2026)

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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.11. 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 entitled to recover the claim made in the OA with future interest and costs.

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

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The Defendants no. 1 and 2 are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.24,64,051.00. Ps. ( Rupees Twenty Four Lakhs Sixty Four Thousand and Fifty One Only) with future rate of interest @12.85Yo p.a from 11.06.2026 till the date of realization.

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The Applicant Bank is entitled to proceed against the Mortgaged Property as mentioned in the schedule of Property to the OA towards realization of the debt due

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The Appl to proceed against the person and Defen 1 and 2 towards realization of the ,. sEP znm

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lOA.^{No. a7s/2o26)}

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That Applicant Bank is entitled 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 the09th day of Sep , 2026)

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sd/(G. GOPTCHAND) PRESIDING OFFICER

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ffuw;ru' Arsr. RcgrsrreT DRI-|, HYDERABT\D

Canara Bank v. Mr. Ramavath Laxma and others

Case brief

What is this about?

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Canara Bank v. Mr. Ramavath Laxma and others

Case brief

What is this about?

What did the court decide?

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