Allowed

Indian Bank v. M/S. Perfect Electronics

DRT5 Mar 2026OA/495/2025

Case brief

AI extract

What is this about?

In debtor recovery proceedings, the Debts Recovery Tribunal allowed the Original Application filed by Indian Bank against M/s. Perfect Electronics. Based on the bank representative's testimony and exhibited documents, the bench held the claim was established and ordered the defendant to pay the outstanding amount with future interest.

What did the court decide?

Ordered the Defendant to pay Rs. 27,50,318/- with future interest at 13.85% p.a. from the date of application till realization and to pay costs; issued recovery certificate.

Indian Bank versus M/S. Perfect Electronics — Banking and Recovery | DRT (2026)

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(oA.No.49sl202s)

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IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD

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DATED THIS THE srH DAY OF MARCH, 2026

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER OA.No.495 of 2025

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Between:

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Indian Bank, Tollychowki branch, Hyderabad - 500 008. Represented by its Branch Manager

...

Applicant

VERSUS

M/s. Perfect Electronics, Represented by its Proprietor Mr. Mohd Aleemuddin, S/o Mohd Rasheed, aged 25 years, R/o 13-6-825/10, Rind Road Pillar-102, Bismillah hotel, Backside Karwan, Asifnagar, Hyderabad - 500 012.

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Defendant

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Counsel for the Parties:

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For the Applicant Sri T. Sridhar Reddy For the Defendant Exparte Reserved on 03.03.2026 Pronounced on 05.03.2026 Uploaded in website on 06.03.2026

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ORDER

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1' The ApplicantBank fired the present oA against Defendant for recovery

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ola.tgtal l: 'r^'. :yn t, l: of .,Rs.27,5O,318/- (Rupees Twenty Seven Lakhs

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(oA.No.49sl202s)

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Fifty Thousand Three Hundred and Eighteen only) with future interest @ 13.850/o p.a with monthry rests from date of apprication tilr the date of rearization and in defaurt for sare of hypothecated movables as mentioned in the schedule to OA.

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As per the averments in the apprication, the Appricant Bank states that defendant is a^proprietary firm represented by its proprietor Mr. Mohd Areemuddin avaired cash credit facirity of Rs.25.00 Iakhs ancr executed demand promissory note, agreement for cash credit, agreement of hypothecation of movabres and retter of continuity etc. The defendant hypothecated the movabres in favour of appricant bank. After avairing the roan facirity, the defendant faired to compry the terms of sanction, hence the appricant bank crassified the account as NpA and regar notice was issued on 3r.07.2025. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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Defendant called absent and set exparte on 03.03.2025.

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sri Pranav Kant riwari, chief Manager of the Appricant Bank examined himself as AW.1 and exhibited rerevant documents, which are marked as Ex.A.1 to A.15.

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Heard the Ld. Counsel for the Applicant Bank. . 5 t4Lll^)Rof ,il I

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(oA.No.49sl202s)

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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 Defendant as prayed for?

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Defendant was set 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.A1 to A.15. In view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendant and hence the Applicant Bank is entifled to recover the claim made in the OA with future interest and costs.

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In the result, the present OA is allowed with costs, as under: The Defendant is liable to pay to the Applicant Bank a total sum of Rs.27,5O,318/- (Rupees Twenty Seven Lakhs Fifty Thousand Three Hundred and Eighteen only) with future interest @ 13.85% p.a from date of application till the date of realization.

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The Applicant bank is entiUed to proceed against the hypothecated movables as mentioned in the schedule to oA towards realization of the debt due.

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The Applicant Bank is also entitled to proceed against the person and t"

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properties of defehtdppttowards realization of the debt due. 'i: i

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11, The A$pfc{f,B^gmfk is entitled to the costs of the OA.

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(oA.No.49s/202s)

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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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Issue 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 the 5th day of March, 2026)

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sdl-

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(G. GOPTCHAND) PRESIDING OFFICER

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0s fim7m

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trW

Indian Bank v. M/S. Perfect Electronics

Case brief

What is this about?

What did the court decide?

Indian Bank v. M/S. Perfect Electronics

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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