Allowed

Bank of India v. M/s. Bhole Shankar Furniture.

DRT12 May 2026OA/82/2026

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's application for recovery of dues against defaulting borrowers and their guarantors, holding them jointly and severally liable to pay aggregated principal sums plus future interest.

What did the court decide?

Defendants ordered to pay Rs. 37,84,789.14 with future interest; recovery certificate issued; bank entitled to proceed against hypothecated assets and defendants' properties.

Bank of India versus M/s. Bhole Shankar Furniture. — Contract and Commercial Disputes | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE 12TH DAY OF MAY, 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: 82 OF 2026

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Bank of India.,

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Vasavinagar Branch, Karkhana, Secunderabad Hyderabad, Telangana State. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s. Bhole Shankar Furniture., Rep by its Proprietor Mrs. Umaravathi

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Mistry, wo. Rakesh Mistry, Aged About 39 Years, Door No.7-3-17

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Mallikarjuna Nagar, Beside Sri Rama Dharma Kanta, Sagar Ring Road Saroornagar, Hyderabad - 500079.

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Mrs. Umaravathi Mistry, W/o. Rakesh Mistry, Aged about 39 Years

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Occ: Business, R./o.Door No.3-8-144

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Plot No.201, Chandrapuri Colony Road No.3, L B Nagar, Hyderabad-500074,

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... Defendants

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: Mr. P. Ravi Counsel for the Applicant Defendants : Ex-parteEx-parte

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: Ex-parteEx-parte

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:: e_LLE-l& ::

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The Applicant Bank filed the present Oa for thl recovery a total sum of Rs.37,84,789.14ps i.e., a sum of Rs.16,25,131.27ps towards Working Capital Limit Loan A,/c. No.861430110000051 with future interest @12.35o/o p.a., a sum of Rs.2O,26,297.59?s towards Term Loan A/c.No.86147O47OO0O021 with future ,4,Yaa")b

(-7 ):'

oA.NO.82l2025

interest @12.7590^p.a., a sum of Rs.89,976.19ps towards WCTL Loan A/c. No.861465910000004 with future interest @10.35olo p.a. and a sum of Rs.43,384.09ps towards FITL Loan A/c. No.861470210000166 with future interest @10.35o/o^p.a. from the defendants^jointly and severally from the date of application till the date of realization along with costs and in default for sale of hypothecated assets.

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Summons served on D1 and 2 through^{paper publication.} They were set ex-parte on 06.05.2026 as called absent and no representation.

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The Applicant Bank examined P Praveen, Legal Manager, as AW-1 and marked 39 documents through him as Ex. A.1 to Ex. A.39.

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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 entitled for the claim made in the OA against the Defendants and OA hypothecated assets?

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.39 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^yujth future interest and costs. //Dt"l.t\ (-/">"

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oA.NO.8212025

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In the result, the present Orlginal Application No.82l2026 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.37,84,789.14ps i.e./ a sum of Rs.16,25,131.27ps towards Working Capital Limit Loan A/c. No.861430110000051, a sum of Rs.20,26,297.59ps towards Term Loan A/c. No.861470410000021, a sum of Rs.89,976.19ps towards WCTL Loan A/c. No.861465910000004 and a sum of Rs.43,384.09ps towards FITL Loan A/c. No.861470210000166; with future interest @8.85yo 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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oA.NO.8212025

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9. Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the^parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 12th Day of May, 20261.

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,flw'*elt lnFrMesnwAR^KorHE) PRESIDING OFFICER

Bank of India v. M/s. Bhole Shankar Furniture.

Case brief

What is this about?

What did the court decide?

Bank of India v. M/s. Bhole Shankar Furniture.

Case brief

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