Debts Recovery Tribunal allowed Canara Bank's OA against defendants for recovery of Rs.52,40,901.72 along with interest and costs, establishing the debt through ex parte proceedings.
Defendants jointly and severally liable to pay Rs.52,40,901.72 plus interest; applicant entitled to proceed against hypothecated movables and properties; recovery certificate issued.
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 RECOVERYTRIBUNAL-I AT HYDERABAD DATED THIS THE 16rH DAy oF MARCH, 2026
PRESENT: sRI GUMMADI GOPICHAND, PRESIDING OFFICER
OA.No.565 ot 2O2S
Between:
Canara Bank,
MSME,Sulabh Warangal branch, H.No.24-7 -244/ 6/ L, Lst floor, Main road, Ramakrishna colony, Hanamkonda, Warangal- SOO Obf . Represented by its Sr Manager cum Authorised olficer
Applicant
VERSUS
Defendants
Counsel for thepa
For the Applicathe ApplicaApplica
For the Applicathe ApplicaApplica Smt N. Indira For the Defendah& Exparte Reserved on n 12.03.2026 1 6 i'lflfi2U2$ L6.03.2026 Uploaded in 17.03.2026
(oA.No.5G5 /202s)
ORDER
1' The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.52,4o,9ol.7zps (Rupees Fifty Two Lakhs Forty Thousand Nine hundred one and paise seventy two only) with future interest @ LLo/o p.a with monthly rests along with penal interest @ 2o/o from 01.11.2025 till the date of realization and in default for sale of hypothecated movables as mentioned in the schedule to OA.
2' As per the averments in the application, the Applicant Bank states that defendant no.1 is a Proprietary concern represented by its propri etor/ defendant no.2 availed cash credit facility of Rs.50.00 lakhs and hypothecated all the movables as mentioned in the schedule to oA in favour of Applicant bank and executed all necessary documents. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NpA and issued legal notice dated 24.L0.2025. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this oA.
(oA.No.s65/202s)
7 ' 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.A1 to A.13. In view of the above, I hold that the Applicant Bank has established their claim made in the oA against the Defendants and hence the Appricant Bank is entitled to recover the craim made in the oA with future interest and costs.
(oA.No.s5s/202s)
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(G. GOPTCHAND)
PRESIDING OFFICER
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2 issues framed by the court
Whether the Applicant Bank is entitled to the claim made in the OA against the Defendants?
Whether the Applicant Bank can recover the claim along with future interest and costs?
1 provisions across 1 enactments
Canara Bank
M/s. Sri Sai Ganesh Agency
Sri Parshi Avinash
Gummadi Gopichand
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
