Allowed

State Bank of India v. M/S. Sri Kanakadurga Industry

DRT11 Mar 2026OA/596/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the Debt Recovery Application filed by State Bank of India against the Defendants for recovery of a total sum of Rs. 2,32,29,491/- along with future interest and costs, noting the defendants' ex parte absence.

What did the court decide?

The Defendants are jointly and severally liable to pay the Applicant Bank a total sum of Rs. 2,32,29,491/- with future interest at 13.650% p.a. and costs; Applicant entitled to proceed against hypothe

State Bank of India versus M/S. Sri Kanakadurga Industry — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD DATED THIS THE llrH DAy OF MARCH,2026

¶2

PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER OA.No.596 of ZOZ5

¶3

Between:

¶4

State Bank of India, Stressed Assets Recovery Branch-2, RTC X roads, Chikkadpally, Hyderabad - 500 020. TS Represented by its Chief Manager

¶5

Applicant

¶6

VERSUS

¶7

M/s. Sri Kanakadurga Industry, Represented by its proprietor Sri Kora Gopal,^plot no.C-1, Sreeven Offset^printers, IDA Uppal, Ground floor, Uppal, Hyderabad - 500 039.

¶8

Sri Kora Gopal, S/o Sri K. Panthya, Aged about 36 years, O.cc: business, R/o plot no.B7, Phase-I, PRTU colony, Meerpet, Saroornagar, K.V. Ranga Reddy , Telangana - 500 Og7.

¶9

Defendants

¶10

Counsel for the^parties: For the Applicant Sri Hari Prasad For the Defendants Exparte Reserved on 09.03.2026 Pronounced on LL.03.2026 Uploaded in website on 11.03.2026

¶11

(oA.No.596l2o2s)

¶12

ORDER

¶13

The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.2,32,23ABLl- (Rupees Two Crores Thirty Two Lakhs Twenty Three Thousand Four Hundred and Eighty one only) (Rs.29r32,37O/- + Rs.2,O2,g1,1LL/-) with future interest @ 13.650lo p.a with monthly rests from date of filing of OA till the date of realization and in default for sale of hypothecated movables as mentioned in the schedule to OA.

¶14

As per the averments in the application, the Applicant Bank states that defendant no.1 is a Proprietary concern represented by its proprietor/ defendant no.2 availed cash credit facility of Rs.10.00 lakhs and term loan of Rs.1.90 lakhs on 28.tL.2024. The defendants 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 11.08.2025. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

¶15

OSf@lg called absent and set exparte on 09.03 .2026.

¶16

'l 11ilm m :
: A*,,.',
2
"].-, ",*'f'tll;iJ
\r.,.1;..J$tr{i ;r'
Si],rr:tin:,it'

¶17

(oA.No.596 /zozsl

¶18

sri J. Rama Rao, chief Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.12.

¶19

Heard the Ld. Counsel for the Applicant Bank.

¶20

The point that arise for consideration is whether the Applicant Bank is entitled for the claim made in the OA against the Defendants as prayed for?

¶21

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.12. 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 Applicant Bank is entitled to recover the claim made in the OA with future interest and costs.

¶22

B. In the result, the present oA is ailowed with costs, as under: The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.2,32,29,491/- (Rupees Two crores Thirty Two Lakhs Tqrenty Three Thousand n Four Hundred and Eighty one only,r ':i^lL 7.Ol- + Rs.2,O2,g,.,tttl-) with future ..r, /.._ 13.@o p.a date of filing of OA ti[ the date of reafl4afio n1;1 tlfl L' :nl <sup>', :. ,,. ,,'t',.^,'gvri ,iri'.#&Ittii

¶23

(oA.No.s95/2025)

¶24

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

¶25

The Applicant Bank is also entitled to proceed against the person and properties of defendant No.2 and properties of defendant no.1 firm towards realization of the debt due.

¶26

The Applicant Bank is entitled to the costs of the OA.

¶27

The Applicant shall file a cost memo within two weeks from the date of receipt of order.

¶28

Issue Recovery certificate accordingly.

¶29

Communicate a copy of the order to the parties concerned.

¶30

(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 11$ day of March, 2026)

¶31

sdl-
(G. GOPTCHAND)
PRESIDING OFFICER

¶32

aYrry.
Aeot,flcd*tar
BFT'I, l'YDf'ca a n ^

¶33

State Bank of India v. M/S. Sri Kanakadurga Industry

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S. Sri Kanakadurga Industry

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

All orders in this case

Similar cases

State Bank of India versus Mrs. Aleti Aruna

State Bank of India versus Gootty Chandra Sekhar

Idbi Bank Limited versus Sri. K. Venkataiah Goud

Canara Bank versus Smt. Padmamma

Canara Bank versus Sri Laxmi Powerloom Industry

State Bank of India versus Dommati Sai Krishna