Allowed

Indian Bank v. Venkateswarlu

DRT9 Sept 2026OA/606/2026

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's original application for recovery of a loan sum of Rs. 24.10 lakhs plus interest and costs against a defendant who appeared ex-parte. The court held that the evidence affidavit and marked documents clinched the bank's claim.

What did the court decide?

The defendant is ordered to pay the sum of Rs. 24,10,589.02 plus future interest and costs; the OA claim is secured by hypothecated assets; the bank is directed to file a cost memo within two weeks; a

Indian Bank versus Venkateswarlu — Contract and Commercial Disputes | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL.II^{AT HYDERABAD}

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DATED THIS THE O9TH DAY OF SEPTEMBER,²⁰²⁶

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PRESENT: SH. RAMESHWAR KOTHE, B.COM.,^{L.LB. (HONS.), M.A.} PRESIDING OFFICER

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Original Application No: 606^{OF 2026}

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Indian Bank., Kothapet Branch, H.No.2-4- 1049, Sairam Avenue, Plot No.35, Mohan Nagar,^{New Nagole} Kothapet Road, Uppal Mandal,^{Medchal Malkajgiri} District, Hyderabad - 500035,^{TelanganaState, India} ReD' bv its Branch Manager'

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.... Appricant

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Versus

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Mr. Satakari Venkateswarlu, S/o.^Venkataiah Business Under the^{Name and Style M/s. Sri} Venkateswara Electronics,^{Aged about 40 Years} Resident of H. No.1-9-83/E/G,^{Ground Floor} Chandrapuri Colony,^{Uppal Mandal & l4edchal} Malkajgiri District, Telangana,^India.

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'.....Defendant

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Counsel for the APplicant^{: Mr. B. Siva Kumar} Defendants : Ex-Parte

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::^qLLEL ::

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The Applicant^{Bank filed the present OA for the recoverya total} sum of Rs.24,10,589.02ps^{towards Open Cash CreditLoan} A/c.No.7719909055^{from the defendant with future interest} @11.85o/o^{p.a. plus 2o/o penal charges wlth monthlyrests from} the date of^{application till the date of realizationalong with} costs and in defaurt^{for sare or hveoth.jffw#}

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oA.NO.606/2026

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Summon served on sole defendant through paper publication and was set ex-parte on 02.09.2026 as called absent and no representation.

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The Applicant Bank examined Harsha Vutukuri, Manager, as AW-1 and marked 17 documents through him as Ex.A.l to Ex. A. 17.

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Heard the Ld. Counsel for the Applicant Bank. perused the material placed on record.

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The point that arises for consideration is:-

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Whether the Applicant Bank is entiued for the claim made in the OA against the Defendant and OA hypothecated assefs?

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As stated supra, the Defendant remained ex_parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.17 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.60612026 is allowed as under: -

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i) The Defendant is tiabte to pay to the Applicant Bank a sum of Rs.24,10,589.02ps towards Open Cash Credit Loan A/c. No. 7779909055 with futule interest @11.85o/o AW.*u

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oA.NO.505/2026

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p.a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of hypothecation of assets described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

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iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entitled for the costs.

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The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, si8ned and pronounced by me in the open couTt on this the 09rh Day of September, 2026).

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ow^# (RAMESHWAR KOTHE) PRESIDING OFFICER

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OA.No.606/2026

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09.09.2026 Orders Pronounced, vide separate sheets. In the result OA.No.606/2026 ls allowed with costs. Issue Recovery Certificate accordingly. )f*t16,.f_f6 / L/ Aot'P.O.

Indian Bank v. Venkateswarlu

Case brief

What is this about?

What did the court decide?

Indian Bank v. Venkateswarlu

Case brief

What is this about?

What did the court decide?

What the court decided

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