Allowed

Bank of India v. M/s. Divya Engineering Works.

DRT24 Mar 2026OA/74/2026

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the Applicant Bank's Original Application for recovery of Rs.21,09,343.08. The court held the Defendants jointly and severally liable to repay the cash credit dues with future interest and costs, enabling the Bank to proceed against hypothecated assets and properties for realization.

What did the court decide?

Defendants jointly and severally liable to pay Rs.21,09,343.08 with future interest; OA claim secured by hypothecation; Bank entitled to proceed against defendants' properties; Recovery Certificate is

Bank of India versus M/s. Divya Engineering Works. — Banking and Recovery | DRT (2026)

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. IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 24IH DAY OF MARCH, 2026 PRESENT: SH. RAMESHWAR KOTH-E, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATIoN No: 74 oF 2026

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Bank of India.,

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Balanagar Branch, 7 -4- tg4/s Ground Floor, Shiv Ganesh Complex tsatanagar, Hyderabad. Rep. by its Constituted Attorney.

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.....Applicant.

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Versus

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M/s. Divya Engineering Works., Rep by Sri. D. Malta Reddv Plot No.11, KK Owners, phase-v Jeedimeua, Hyderabad _ 500055.

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Mr. Dandiyala t4alla Reddy 5-055/ 11/N R, Ramireddy Nagar IDA leedimeUa, Medchal Malkajgiri District.

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Also at:-

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H. No.4-32- 1561-3A, phase - 2, A wyn Colony, Kukatpa y, Hyderabad_500055.

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.. . Defendants

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Counsel for the Applicant

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Defendants

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Mr. K. V. Nageswara Rao

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Ex-parte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs.21,09,343.08ps towards Cash Credit No.8630110000068 from the defendants joinuy and severally with future interest @11.3oyo p.a. compounded monthly rests and 2olo penal interest from the date of applicat_ion till the date (J/'':-vn,z/)Y1,t'-1rz-,'j:J.

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oA.NO.7412026

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of realization^{along with costs and in default for sale of'} hypothecated^assets'

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Summons^{served on D1 returned with endorsementrefused} n"n.", 0""."0^{to be served' Summonsservedon D2' They} were set^{ex-parte on 18'03 2026 as called absentand no} representation.

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The Applicant^{Bank examlnedPoonaSudha' Legal Manager'as} AW-1^{and marked 14 documentsthrough her as Ex' A'1 to Ex'} A.14.

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i Heard the^{Ld. Counselfor the Applicant Bank Perused the} material Placed^{on record'}

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The^{point that arises for considerationis:-}

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Whether^{the ApplicantBank is entitted}

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for the claim^{madein the OA against} the Defendants^{and OA hYpothecated} assets?

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As stated supra,^{the Defendants remained ex-parte'The} Evidence Affidavit^{coupledwith the recitalsin the documents} viz., Exs. A.1^{to A.14 markedon behalf of the Applicant Bank} clinches^{the claim of the Applicant Bank against the Defendants'} Hence, I^{hold that the Defendants are jointlyand severallyllable} to^pay the^{OA claim to the Applicant Bank with futureinterest} and costs.

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In the^{result,the present} /qliginal^{ApplicationNo'7412o26is} allowed^{as under: -} /Sx"-\

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oA.NO.74/2026

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i) The Defendants^{are jointly and severally} liable to^{pay to the Applicant Bank a sum of} Rs.21,09,343'0Bps^{towards Cash Credit} No.8630110000068^{with futureinterest} @11'30%^{p'a' simple from the dateof} application^{till the date of realization;}

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ii) the^{OA claim issecured bY way of} hypothecation^{of assets describedin the} schedule^{annexed tothe OA and the} applicant^{bank is entitledto proceedagainst} the^{same to realise its debt;}

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iii)^{the applicant bank is also entitled to proceed} ugu'n"^{tn"person and propertiesof} defendants^{for realization of its dues;}

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iv)^{the applicant bank is entitled for the costs'} Memo^{within2 weeks}

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B rhe^{Apprican"":::::J:;';t','".:::"t"'t} from^{the date oft}

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o Issue^{Recovery Certificate accordingly'} 10. ."."r'r1^':3.Y.:,:;1';"$iil::"".l;'33"fJT"''^T'""J[:i; )h i"?a[Jl'i1':,:'l.i:3'Y":J.,''1';":I'"il::"Il;ff^tH;;"; l?:lm;;^{oav oirua"t"zozet'}

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(RAMEsHwlLt?rrJ5J 5.ils16'i*G^.FFI.ER

Bank of India v. M/s. Divya Engineering Works.

Case brief

What is this about?

What did the court decide?

Bank of India v. M/s. Divya Engineering Works.

Case brief

What is this about?

What did the court decide?

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