Allowed

Canara Bank v. Smt. Vanitha Reddy Anneda

DRT27 Jan 2026OA/567/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the Debts Recovery Tribunal allowed the Official Assurance of Recovery against defendants for recovery of housing loan dues and directed issuance of Recovery Certificate after establishment of the loan account and default.

What did the court decide?

Defendants were directed to jointly and severally pay Rs. 54,83,319.00 with future interest; Recovery Certificate was issued.

Canara Bank versus Smt. Vanitha Reddy Anneda — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL - I AT HYDERABAD DATED THIS THE 27th DAY OF JANUARY,2O26 PRESENT: SRt cUMMAD! cOptCHAND, pRES|DtNG OFFTCER

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OA. No. 567 OF 2025

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Between:

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Canara Bank, Narayanaguda Branch, S.O, P B No. 1048, 3-5-.168-1234, Opp ShantiTalkies, Narayanaguda, Himayatnagar, Hyderabad, Telangana - 5OO 029 Represented by its Senior Manager

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Applicant

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VERSUS

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SmL Vanitha Reddy Anneda,, Wo. Sri. Srinivas Reddy Anneda Aged 41 years, Occ. Business, R/o. Plot No.71-12, Flat No.402, Sikh Village Spring Apts Cb R, Krishnaveni Estates, Yapral JJ Nagar Colony, Medchal, Telangana - 500 Og7

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Sri Srinivas Reddy Anneda,
S/o. Sri Lacchi Reddy Anneda,
Aged 49 years, Occ. Business, -4R<br>R/o. Plot No.71-72, Ftat No. a0ffi1,*:;:ii .i".
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Sikh village spring Apts cb R{,/ "i( "' " ...,i
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Krishnaveni Estates,
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Yapral JJ Nagar Colony, ,,k a r
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Medchat, Teransana -ioo o& 2 7 lttl tPs j,j Defendants
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(oA. No. s671202s)

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Counsel for the parties :

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For The Applicant M. Srinivas For the Defendant Exparte Reserved on 20.01.2026 Pronounced on 27.01.2026 Upload in website on 28.01.2026

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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.54,g3,319.00 ps. (Rupees Fifty Four Lakhs Eighty Three Thousand Three Hundred and Nineteen Only) being the Housing loan Facility account with future interest @ 11.s1o/o p.a with monthry rests incruding penal interest @2% p.a with monthly rests from the date of this application till the date of realization and in default for sale of Mortgaged Properties as mentioned in the Schedule of Properties A and B to OA.

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the application, the Applicant Bank states and Defendant No. 2 availed Housing ,000/- repayable in 336 equated monthf s.44,3671- each with interest @9.OSvo ln?lfil'Toi['o⁴

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(oA. No. s67l202s)

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p.a with monthly rests and executed Housing Loan Agreement dated 31.03.2018 in favor of the Appticant Bank. The Defendants created Equitable Mortgage morefully mentioned in Schedule of Properties A and b to the OA and executed Memorandum of Deposit of Title Deeds dated 23.07.2018 in favor of the Applicant Bank and Defendants deposited Original title 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 28.08.2025 and issued Demand Notice dated 30.08.2025 under Section 13(2) of the SARFAESI Acl, 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 20.01 .2026.

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Sri. K.V. Ramana, Senior Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.11.

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Heard the Ld. Counsel for the Applicant Bank.

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b_ The point that arise for consideration is whether the Applicant ban for the claim made in the OA against the lor? iP t f

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(OA. No. 567/202s)

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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 A.11. 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. 1 and 2 are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.54,83,319.00 Ps. (Rupees Fifty Four Lakhs Eighty Three Thousand Three Hundred and Nineteen Only) being the Housing loan Facility account with future interest @ 9.50%^p.a from the date of this application till the date of realization.

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The Applicant Bank is entitled to proceed against the Mortgaged Properties as mentioned in the Schedule of Properties A and B to the OA towards realization of the debt due.

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is also entitled to proceed against the of Defendants No. 1and2 towards due. * 2 7 ,itrg tnyS 4 W

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(OA. No. s67l202s)

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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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lssue Recovery Certificate accordingly.

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Communicate a copy of the order to the parties concerned.

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(Oictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 27ih day of Jan, 2026)

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sd/-

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(G. GOPTCHAND) PRESIDING OFFICER

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RUEFOPY
,91*A-

Canara Bank v. Smt. Vanitha Reddy Anneda

Case brief

What is this about?

What did the court decide?

Canara Bank v. Smt. Vanitha Reddy Anneda

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

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