Allowed

Union Bank of India v. Sri Bhashapaka Venkateshwarlu

DRT12 Jan 2026OA/545/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an Original Application filed by Union Bank of India against two borrowers for recovery of a loan of Rs.32.99 lakhs. Notified the accounts as NPA and issued notice under SARFAESI Act for recovery of principal, interest, and costs over hypothecated assets.

What did the court decide?

Defendants jointly liable to pay Rs.32,99,507.19 with 13.06% p.a. interest; bank entitled to sell mortgaged properties; recovery certificate issued.

Union Bank of India versus Sri Bhashapaka Venkateshwarlu — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL - I AT HYDERABAD DATED THIS THE 12th DAY OF JANUARY, 2026

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PRESENT: SR! cUMMADI GOPICHAND, PRES|DING OFFTCER

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OA. No. 545 OF 2025

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Between :

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Union Bank of lndia, Narkatpally Nagar Branch, Hyderabad, Telangana.

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Represented by its Chief Manager

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Applicant

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VERSUS

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Sri Bhashapaka Venkateshwarlu D/o. Bashapaka Narasimha, Aged about 34 years, Oc : Business H. No. 7 -1 -124, Panagal, Nalgonda Post and District,

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Telangana - 508 001.

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Mrs. Gantekampu Jyothi, @^{Bhashapaka Jyothi,} Wo. Bashapaka Hari Krishna Age about 47 years Occ: Government Employee, Flat No. 204, H.No. 5-1 1-48, Sri Venkateswara Apartments, Shanthi Nagar,

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Nalgonda Post and Distribt,

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Defendants ,lqt1 Jfiil 20m

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(oA. No. s4s/202s)

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Counsel for the parties :

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For The Applicant Sangeeta Jaiswal For the Defendant Exparte Reserved on 09.01.2026 Pronounced on 12.01.2026 Upload in website on 12.01.2026

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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.32,99,507.19 Ps. (Rupees Thifi Two Lakhs Ninety Nine Thousand Five Hundred Seven and Paise Nineteen Only) with future interest @13.06%^{p.a with monthly rests from} 30J0.2025^(inctusive of 2o/openal interest) till the date of realization and in default for sale of Hypothecated Movables and Mortgaged Properties as mentioned in the Schedules Property A and B to OA.

¶19

As per the averments in the application, the Applicant Bank states that Defendants availed Term Loan facility of Rs.35,00,000/with interest @10.80% p.a with monthly rests along with penal in 6 years in 12 Hall Yearly installments Ri.2,gr,666.67 executed Hypothecation Agreement

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JAil 2tl2F

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(OA. No. 54s/2025)

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dated 14.11.2022 in favor of the Applicant Bank. The Defendants created Equitable Mortgage morefully mentioned in Schedule B to the OA and executed Memorandum of Deposit of Title Deeds bearing document no. 1702gt2O22 in favor of the Applicant Bank and Defendants deposited Original tifle deeds 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 12.02.2025 and issued Demand notice dated 13.02.2025 under section 13(2) of the SARFAESI Act, 2002 to 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 0g.0,1.2026.

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Sri. Nagireddi Durga, Senior Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.21.

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arise consideration is whether the Applicant bank is entitled for claim made in the OA against the 12 ,tfiff 20ffi

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(oA. No. s4sl202s)

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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 4.21. 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. I and 2 are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.32,99,507.19 Ps. (Rupees Thifi Two Lakhs Ninety Nine Thousand Five Hundred Seven and Paise Nineteen Only) with future interest @13.06% p.a from 30.10.2025 tillthe date of realization.

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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.

12 t:l 4 W

(oA. No. s45/2o251

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 the 12th day of Jan, 2026)

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sd/-
(c. coPrcHAND)
PRESIDING OFFICER

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trvw
,#il'*ffi!^PJuo

Union Bank of India v. Sri Bhashapaka Venkateshwarlu

Case brief

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Union Bank of India v. Sri Bhashapaka Venkateshwarlu

Case brief

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