The Debts Recovery Tribunal allowed the Application under Section 17(9) of the SARFAESI Act. The Tribunal held that the bank established its claim and appointed the next step involves recovery of the debt and issuance of a recovery certificate.
Recovery of the outstanding sum of Rs.2,35,30,778 plus future interest and issuance of a Recovery Certificate.
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 RECOVERY TRIBUNAL - I AT HYDERABAD DATED THIS THE 13th DAY OF JULY, 2026
PRESENT: SRI cUMMADI GOPICHAND, PRESIDING OFFTCER
OA. No.65 OF 2026
Between :
Canara Bank, Hanumakonda - ll Branch, H.No. 2-5-39, Water Tank Road, Near Naveena Childrens Hospital, Nakkalgutta, Hanumakonda, Warangal District - 506 001, Telangana State Represented by its Authorized Officer Applicant VERSUS M/s. Maha Laxmi Powerlooms lndustry, Plot No. 128, Survey No. 1791/1 , Madikonda, Kazipet, Warangal - 506 342 Rep. by its Proprietor, Smt. lrsadla Ramadevi Wo. Ramesh, Rio. H.No. I 8-8-50/1/A, KAreemabad, - 506 002 Warangal Defendant
Applicant
(oA. No. 6sl2026)
Counsel for theparties :
For The Applicant Sri. D.L. Kiran Prakash For the Defendant ShriA. Sunil Reserved on 10.07.2026 Pronounced on 13.07.2026 Upload in website on 13.07.2026
ORDER
't. The Applicant Bank filed the present OA againstDefendants for recovery of a total sum of Rs.2,35,30,778.00ps., (Rupees Two Crores Thirty Five Lakhs Thirty ThousandSeven Hundred and Seventy Eight Only) i.e a sumof -
(i) Rs.l,80,34,034.00 Ps. under Term Loan account withfuture interest @10.65% p.a with monthly rests overduepenalinterest @2%p.afrom the date of this application till the date of rea lization;
(ii) Rs.20,22,545.00 Ps. under OD Loan account with future interest @11.45%p.a with monthly rests overduepenal interest of this application till the date of
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(OA. No. 6sl2026)
(iii) Rs.6,30,402.00 Ps. under the GECL - I account with future interest @13.65% p.a with monthly rests overdue penal interest @2%p.afrom the date of this application till the dateof realization;
(iv) Rs.28,43,797.00 Ps. under the GECL - 2 account with future interest @13.65% p.a with monthly rests overdue penal interest @2%p.afrom the date of this application till the dateof rea lization;
and in default for sale of Hypothecated Movables and Mortgaged Property as mentioned in the Schedule of Property A and B to OA.
(oA. No. 6sl2026)
Common Hypothecation Agreement dated08.11.2021in favor of the Applicant Bank. The Defendant createdEquitable Mortgage morefully mentioned in Schedule ofproperty to OA and executed Memorandum ofDeposit of Title Deedsdated 18.01.2023 in favor of theApplicant Bankanddepositedsale deeds dated 26.07.2022 in favor of theApplicant Bank.After availing the loan facility, the defendant failed tocomplythe terms of sanction, hence the applicant bankclassified the account as NPA on 29.10.2023 andissued Demand notice dated 06.1 1 .2023 under Section13(2) of the SARFAESIAct, 2002 to the defendant. lnspite of severalrequests and demands, the defendant did not clear the outstanding.Hence this OA.
Sri. A. Sunil filed Vakalat on behalf of theDefendant. WS of Defendant not filed. Hence, Defendant calledabsent and set exparte on 10.07.2026.
for consideration is whether the Applicant the claim made in the OA againstthe lQefenda AS r? I u uuL. /0 l, W,rffiflY
(oA. No. 6sl2026)
- Defendant 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.22. ln view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendant and hence the Applicant Bank is entitled to recover the claim made in the OA with future interest and costs.
The Defendant is liable to pay to the Applicant Bank a total sum of Rs.2,35,30,778.00 ps., (Rupees Two Crores ThirtyFive Lakhs Thirty Thousand Seven Hundred and Seventy Eight Only) i.e a sum of -
(i) Rs.1,80,34,034.00 Ps. under Term Loan account withfuture interest @10.65% p.a fromthe date of this applicationtill the date of realization;
(ii) Rs.20,22,545.00 Ps. under OD Loan accountwith future interest @11.45o/op.a from thedate of this application till the date of realization;
,4O2.OOPs. under the GECL - |accountwith future oh p.a from the date of this application till the
3 JUt 2trl6
(oA. No. 6sl2026)
(iv) Rs.28,43,797.00 Ps. under the GECL - 2 account with future interest @13.650/0 p.a from the date of this application till the date of realization;
14. Communicate a copy of the order to the parties concerned.
(Dictated to the P A., transcribed by her corrected, signed and pronounced by me in the open court on this the 13th day ofJul,2026)
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13 JUt ]Tm (G. GOPTCHAND)
;1a)
Canara Bank, Hanumakonda - II Branch
M/s. Maha Laxmi Powerlooms Industry
Cummadi Gopichand
As recorded by the court registry
2 orders share this CNR
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