Allowed

State Bank of India v. M/S. Hosiery World

DRT7 Jan 2026OA/716/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by State Bank of India. Being the defendants absent, the Tribunal held them jointly and severally liable to pay the claimed sum with future interest and costs, and issued a Recovery Certificate.

What did the court decide?

Defendants jointly and severally liable to pay Rs.51,38,580/- with interest; Recovery Certificate issued.

State Bank of India versus M/S. Hosiery World — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

¶2

DATED THIS THE OTTH DAY OF JANUARY, 2026

¶3

PRESENT: SH. RAN4ESHWAR KOTHE, B.Com., L,LB. (HonS.), M.A, PRESIDING OFFlCER

¶4

Original Applicatton No: 716 OF 2025

¶5

State Ba nk of Ind ia., Sl,4 ECCC-Cyberabad Bra nch No.t2-6-39 / A/2F, Y lunction Kukatpally, Hyderabad - 500072. Rep. by its Chief Manager. ...Applicant

¶6

Versus

¶7

M/s. Hosiery World.,

¶8

Rep by Smt. Dayam Umarani(Late) Plot No.2 and 3, Shop No.3, Narsingi

¶9

Gandipet Mandal, R R District

¶10

Hyderabad - 500075.

¶11

Mr. Dayam Rakesh, S/o.Sri Satyanarayana Plot No.157, Ground Floor, Alkapur Town Ship, Road No,29, Manikonda

¶12

Hyderabad, R R District - 500089.

¶13

Mr. Dayam Shekhar

¶14

S/o. Sri Satyanarayana

¶15

Plot No.157, Ground Floor, Alkapur Town Ship, Road No,29, lYanikonda Hyderabad,RRDistrict-500089. ......Defendants

¶16

Counsel for the Appllcant : Mr. C. Prabhakar

Defendants

: Ex-parte

:: q-LLEL ::

The Applicant Bank filed the present OA for the recovery of a sum of Rs.51,38,580/- from the defendants 1o,1,!tV anO severally with

¶21

. a.rl.,

¶22

OA.No.71612025

¶23

future interest @12.650/o p.a. along with penal intereSt @29o from' the date of application till the date of realisation along with costs.

¶24

Summons served on D1 to 3 through paper publication. They were set ex-parte on 04.11.2025 as called absent and no representation.

¶25

The Applicant Bank examined P. Sandeep, Legal Manager as AW-1 and marked ll documents through him as Ex. A.1 to Ex. A.11.

¶26

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

¶27

The point that arises for consideration is:-

¶28

Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants?

¶29

As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.11 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

¶30

In the result, the present Original Application No.71612025 is allowed as under: -

¶31

i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.51,38,580/- with future interest @12.55o/o p.a. simple, from the date of apptication tiil the date of reatizatio@\

¶32

OA.No.71612025

¶33

¶34

ii) the applicant bank is also entitled to proceed against the person and properties of the defendant for rea lization of its dues;

¶35

iii) the applicant bank is entitled for the costs.

¶36

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

¶37

Issue Recovery Certificate accordingly.

¶38

Communicate a copy of this order to the parties concerned. (Dictated to the steno., transcribed by him, corrected, signed and pronounced by me in the open court on this the 07th day of January, 2026). -h

¶39

.IWrrlr_<ur\ -"'ot'",-'

¶40

(RAMESHWAR ' KOTHE) PRESIDING OFFICER

State Bank of India v. M/S. Hosiery World

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S. Hosiery World

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

Similar cases

Bank of Baroda versus M/S. Sahastra Agro Traders

Bank of Baroda versus Prasanna Kumar

Bank of Baroda versus Praveen Kumar

Union Bank of India versus Sri Lakshmi Narsimha Foods and Masalas

Bank of India versus Mr. Channaram G Sunny Venkatesh

City Union Bank Limited versus M/S. Jiva Steels Pvt.Ltd.