Allowed

Canara Bank v. Lodhi Calcium Products Pvt. Ltd.

DRT23 Mar 2026OA/479/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Applicant Bank's Original Application filed by Canara Bank for recovery of Rs.6,08,91,712.33 along with interest and costs from Defendants Lodhi Calcium Products and individuals who remained ex-parte.

What did the court decide?

Defendants ordered to pay Rs.6,08,91,712.33 with future interest and costs; Recovery Certificate issued; Applicant directed to file cost memo.

Canara Bank versus Lodhi Calcium Products Pvt. Ltd. — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDEMBAD

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DATED THIS THE 23RO DAY OF MARiH, 2026

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PRESENT: SH. RAMESHWAR KOTHE, B.COM. L.LB.^{(HONS.),IY.A.}

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 479 OF 2024

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Canara Bank

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Kurnool Bra nch, Bhageerathi Complex Park Road, Kurnool, Andhra Pradesh- 518001. Rep. by its Chief Manager

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.....Applicant.

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Versus

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Lodhi Calcium Products^{Pvt. Ltd.}

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Rep. by its Director, Sri.^{Uppari Veera Lakshmaiah} Smt. Uppari Chandrakala,^{D.No.8 126 1, Ungarani} Gundla Village, Dhone-518222,^{Registered Office:} Plot No.63, Jalvicihar,^{Kukatpally-500057.}

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Sri. Uppari Veera^Lakshmaiah

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S/o. Sri. Uppari^Veeranna Aged about 50 Years, Occ:^Business H.No.4-153-14-2, Sundar^SinghColony Dhone, Nandyal^{District, Andhra Pradesh-518222.}

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Smt. Uppari Chandrakala W/o. U^ppari Veera^Lakshmaiah Aged about⁴⁰ Years,^{Occ: Business} H.No.4-153-14-2,^{Su ndar SinghColony} Dhone, Nandyal District,^{Andhra Pradesh-518222.}

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....Defendants

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: Sri. K.V. Nageswara^Rao Counsel for the Applicant

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counsel for the Defendants^{: Ex-parte}

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::^qLLq&::

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The Applicant iank^{filed the present OA for the recovery a total} sum of Rs.6,08,9^{L,712,33ps towarqs-} ffi*^{Cash Credit/ODBDLoan}

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oA.NO.479l2O24

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A/c,No.125004tL9725 from the defendants jointly and severally with future interest @9.75o/o p.a. plus 2o/o penal interest from the date of application till the date of realization along with costs and in default for sale of OA schedule properties.

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Summon served on Defendant Nos. 1 to 3 and were set exparte on 07.01.2025 as called absent and no representation.

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The Applicant Bank examined Mr. P. Pavan Kumar Yadav, Manager, as AW-1 and marked 36 documents through him as Ex.A.1 to Ex.A.36.

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Heard the Ld. Counsel for the Applicant Bank.^perused the material placed on reco rd.

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The point that arises for consideration is: -

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Whether the Applicant Bank is entiiled for the claim made in the OA against the Defendants and O.A. Schedule properties?

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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.l to A.36 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are 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.479/2024 is allowed as under: - L' flv&*

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oA.NO.479l2O24

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.6,08,91,712.33ps towards Cash Credit/ODBD Loan A/c.No.125004Lt9725; with future interest @9.75o/o p.a. simple from the date of application till the date of rea lization ;

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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;

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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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B. The Applicant Bank is directed to file 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^parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 23'd Day of March,2026).

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//Yo'*t

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Canara Bank v. Lodhi Calcium Products Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Canara Bank v. Lodhi Calcium Products Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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