The Debits Recovery Tribunal allowed an Original Application filed by Canara Bank against M/s. Jyothi Textiles and Smt. Samala Jyothi for recovery of a debt of Rs. 1.93 crores along with future interest, costs, and rights over mortgaged properties.
Order to pay Rs.1.93 crores with interest; authorize sale of mortgaged properties; issue Recovery Certificate with costs.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL - I AT HYDERABAD
DATED THIS THE 12th DAY OF JANUARY,2O26
PRESENT: SRI cUMMAD| cOptCHAND, pREStDtNG OFFICER
OA. No. 487 OF 2025
Between:
Canara Bank, Hanumakonda Branch, Plot No. A-2l1, Ground Floor, Main road, Balasamudram Ekasilapark, Hanumakonda, Telangana State. Represented by its Authorized Officer
Applicant
VERSUS
- M/s.Jyothi Textiles, A Proprietorship Firm
Rep. by its Proprietor,
Smt. Samala Jyothi,
R/o. Plot No.300, Sy No. 1791, Madikonda Village, Kazipet Mandal,
Warangal District,
(OA. No. 487l202s)
| 2.Smt. Samala Jyothi, Wo.Lingamurthy, |
||
|---|---|---|
| Agedabout 41years, Occ:Business, R/o.H.No.4-22311, |
||
| MarketRoad, | ||
| Kesamudram, | ||
| Hanumakonda, | ||
| WarangalDistrict-5061'12 | Defendants | |
| Counsel fortheparties: | ||
| ForTheApplicant | N. Rama Rao | |
| FortheDefendant | Exparte | |
| Reservedon | 08.01.2026 | |
| Pronouncedon | 12.01.2026 | |
| Uploadinwebsiteon | 12.01.2026 |
ORDER
- The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.1,93,38,447.30 Ps. (Rupees One Grores Ninety Three Lakhs Thirty Eight Thousand Four Hun Seven and Paise Thirty Onty) i.e a sum of - Irz nlr
(oA. No. 487l202s)
(i) Rs.9,56,5S0.80 ps. with future interest @g.SS% p.a ftoating from 24.07.2025 till the date of realization.
(ii) Rs.1,52,65,042.59 ps. with future interest @ 10.40% p.a floating from 24.07.2025 till the date of realization.
(iii) Rs.6,68,911.10 ps. with future [email protected] floating from 24.07.2025 till the date of realization.
(iv) Rs.24,47,942.85 ps. with future [email protected]/op.a floating from 24.07.2025 tiil the date of reatization.
and in default for sale of Hypothecated Movables and Mortgaged Properties as mentioned in the Schedules property A and B to OA.
(oA. No.487/202sl,
Mortgage morefully mentioned in schedure B to the oA and executed Memorandum of Deposit of rifle Deeds dated 28.12.2021 in favor of the Applicant Bank and Defendant no. 2 deposited original title deeds in favor of the Applicant Bank . The defendants availed GECL facility of Rs.g.50 Lakhs with interest @7.50% p.a with monthly rests repayable in 36 monthly installments and executed suppremental common Hypothecation Agreement dated 18.06.2020 in favor of the Applicant Bank. The defendants availed GECL 1.0 extension loan facility of Rs.20.00 Lakhs with interest @T.so% p.a with monthly rests repayable in 5 years with 2 years principat moratorium and executed supplemental composite Hypothecation Agreement dated 1s.11.2021 in favor of the Applicant Bank. The Defendants renewed the above mentioned loan facilities from time to time and executed the necessary loan documents 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 09.10.2023 and issued Demand notice dated 10.10.2023 under section 13(2) of the SARFAESI Act, zoo2 to the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this oA.
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(oA. No. 4871202s)
- Sri. Jakka Nagarju, Branch Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.42.
- 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?
The Defendants No. 1 and 2 are joinfly and severaily riabre to pay to the_ffpplicant Bank a total sum of Rs.l,93,3g,447.30 ps. (Rupees One Crones Ninety Three Lakhs Thifi Eight Thoustd foqr,Flund?HdrL,Forty Seven and paise Thirty onty)i.e "frT,fl,,lr-o2E " i
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(oA. No. 48712025l'
(i) Rs.9,56,550.80 Ps. with future interest @ g.5S% p.a from 24.07.2025 till the date of realization.
(ii) Rs.l,52,65,042.59 Ps. with future interest @ 10.40% p.a from 24.07.2025 till the date of realization.
(iii) Rs.6,68,911.10 Ps. with future interest @ 7.50o/o p." from 24.07.2025 till the date of realization.
(iv) Rs.24,47,942.85 Ps. with future interest @ 7 .SO% p.a from 24.07.2025 till the date of realization.
- The Applicant Bank is entitled to proceed against the Hypothecated Movables and Mortgaged properties AS mentioned in the Schedules of Property A and B to the OA towards realization of the debt due.
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(oA. No. 487l202s)
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1 issue framed by the court
Whether the Applicant bank is entitled for the claim made in the OA against the Defendants as prayed for?
1 provisions across 1 enactments
Canara Bank
M/s. Jyothi Textiles
Smt. Samala Jyothi
Chand
As recorded by the court registry
2 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
