Allowed

Canara Bank v. M/S. Sri. Venkateshwara Traders

DRT7 Jan 2026OA/501/2025

Case brief

AI extract

What is this about?

Recovery Tribunal allowed an OA filed by a bank seeking recovery of an outstanding loan principal, interest, and future interest from a proprietorship firm that failed to comply with loan terms.

What did the court decide?

Recovery of Rs. 21,48,959.95 with future interest at 10.75%. Authority to sell hypothecated movables and proceed against defendant's properties. Issue of Recovery Certificate.

Canara Bank versus M/S. Sri. Venkateshwara Traders — Execution and Attachment | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL - ! AT HYDERABAD DATED THIS THE 7th DAY OF JANUARY,2O26

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PRESENT: SRI cUMMADI cOPICHAND, PRES|DING OFFICER

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OA. No.501 OF 2025

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Between :

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Canara Bank, C handrayangutta Branch, Near DERL Campus, Hyderabad. Represented by its Manager Applicant

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VERSUS M/s. Sri Venkateswara Traders Rep. by its Proprietor, Mrs. Dumble Yellamma, Wo. Dumble Anand, R/o. H.No. 6-4-146, Sai Baba Nagar, Katedan, Rajendranagar, Ranga Reddy District. Defendant

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Counsel for the parties : For The Applicant : B. Ramana Murthy For the Defendant : Exparte Reserved on ; 05.01.2026 Pronounced on : :,.07.01.2026 ,^.1 Upload in website.on ', 0)^t o1 2625 : [7 :

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(oA. No. s01/202s)

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ORDER

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The Applicant Bank fired the present oA against Defendant for recovery of a total sum of Rs.21,4g,959.95 ps. (Rupees Twenty One Lakhs Fofi Eight Thousand Nine Hundred Fifty Nine and^paise Ninety Five only) with future interest @^{10.75% p.a} with quarterly rests from the date of this application till the date of realization and in default for sale of Hypothecated Movables as mentioned in the Schedule of Property to OA.

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As per the averments in the apprication, the Appricant Bank states that Defendant is a proprietorship firm represented by its Proprietor Mrs. Dumbre yeilamma avaired working capitar Loan of Rs.5,00,000/- with interest @g.7So/o p.a with monthly rests and executed Composite Loan Agreement dated 06.03.2017 in favor of the Appricant Bank. The defendant Renewed the roan facility and extended upto Rs.g,00,000/- and executed composite Loan Agreement dated 16.03.201g in favor of the Applicant Bank. The defendant renewed the above roan facirity from time to time and executed loan documents in favor of the Applicant Bank and lastly the loan was renewed upto Rs. 2O,OO,OOO/_ and the defendant executed Letter of Undertaking Loans and advances dqted 19'.01,]022 in favor of the Appticant Bank. After avaiting the defendant failed to comply the terms of the applicant bank classified the account as

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(oA. No. s01/202s)

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NPA on and issued Legal notice to the defendant. lnspite 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 05.01.2026.

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Sri. Anil Ranjan, Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.40.

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Heard the Ld. Counsel for the Applicant Bank.

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o. The point that arise for considerailon 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 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.40. ln 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 entiiled to recover the claim made in the OA with future interest and costs.

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(oA. No. s01/202s)

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

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The Defendant is liable to pay to the Applicant Bank a total sum of of Rs.21,48,959.95 Ps. (Rupees Twenty One Lakhs Fofi Eight Thousand Nine Hundred Fifty Nine and paise Ninety Five Only) with future interest @10.75% p.afrom the date of this application till the date of realization.

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The Applicant Bank is entifled to proceed against the Hypothecated Movables as mentioned in the Schedule of the Property to the OA towards realization of the debt due.

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The Applicant Bank is also entifled to proceed against the properties of Defendant towards realization of the debt due.

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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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(oA. No. so7lzozsl

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13. lssue Recovery Certificate accordingly.

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14. 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 7th day of Jan, 2026)

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Canara Bank v. M/S. Sri. Venkateshwara Traders

Case brief

What is this about?

What did the court decide?

Canara Bank v. M/S. Sri. Venkateshwara Traders

Case brief

What is this about?

What did the court decide?

What the court decided

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