Allowed

Bank of India v. M/s. Benex Industries

DRT20 Feb 2026OA/89/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Bank of India for recovery of Rs. 66,62,145.08 from four defendants via expedited default proceedings, adjudging them liable to pay the principal sum with future interest and costs, and directed the issuance of a recovery certificate.

What did the court decide?

Defendants directed to pay Rs. 66,62,145.08 with future interest and costs; recovery certificate issued; proceeding against mortgaged properties authorized.

Bank of India versus M/s. Benex Industries — Execution and Attachment | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 2OTH DAY OF FEBRUARY,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: 89 OF 2025

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Bank of India Khairatabad Branch Ground Floor, PTI Building, A.C. Guards Masab Tank, Hyderabad-500004.

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.....Applicant.

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Versus

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M/s. Benex Industries kRepresented by its^proprietor Mr. Venkat Ramana Reddy

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Factor at Shed No. 41, phase IV,

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IDA, Cherlapally, Hyderabad - 5OOO51.

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Mr. Venkat Ramana Reddy S/o Srinivasa Reddy, Aged: 55 years Occ: Business, R/o. H. No. 16-2-741/C/20, Gaddiannaram, Abnerbagh, Asmangadh, Malakpet, Hyderabad-500036.

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Mrs. Sujatha Reddy, D/o K. Veera Reddy Aged: 79 years, Occ: Business, Female R/o, H. No. 16-2-741/C/20, Akber Bagh, Hyderabad-500036.

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Ch. Subba Rao, S/o Ch. Rama Rao Aged: 57 years, Major, Occ: Business, Male. R/o. Flat No, 403 C Block, Varun Enclave, Bhavani Nagar, Kapra, Hyderabad-500062. ...Defendants.

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Counsel for the Applicant '.ffi:ladhava^Rao

oA.NO.89/202s

Defendants

:Ex-parte

:: ORDER ::

The Applicant Bank filed the^{present OA for the recoverya total} sum of Rs.66,62,145.08Ps from^{the defendantswith future} interest @13.80o/o,^p.a. from the date of^{filing till the date of} realization along with costs and in^{default for sale of} hypothecated assets.

¶19

Summon served on D1 to^{D3. Though Dl to D3 appeared} through their counsel^{Mr. A. Vijay Kumar but they did not file} written statement^{hencethey were set exparte on 13.10'2025} due to non filing of^{writtenstatement.Publication wasfiled for} D4 and was set exparte on^{15.09.2025as called absentno} representation.

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The Applicant Bank^{examinedMs. AnusreeB, Assistant} Manager, as AW-1 and^{marked 38 documentsthrough him as} Ex. A.1 to Ex. A.38.

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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 Scheduled} proPerties?

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As stated supra, the^{Defendants remained ex-parte'The} Evidence Affidavit^{coupledwith the recitals.lf,;y9.documents} .,/7r{6.u}}" ' L' d**

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oA.NO.89/2025

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viz., Exs. A.1 to A.38 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are 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.89/2025 is allowed as under: -

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i) The Defendants are liable to pay to the Applicant Bank a sum of Rs. 66,62,145.08Ps with future interest @13.50o/o^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 mortgage of properties 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^propertiesof defendant for realization of its dues;

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iv) the applicant bank is entitled for the costs.

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B. The Applicant Bank is directed to file Cost Memo^{within2 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 em^concerned. L/ K$

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oA.NO.89/202s

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(Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 20th Day of february, 2026).

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0Y*"'0",/

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Bank of India v. M/s. Benex Industries

Case brief

What is this about?

What did the court decide?

Bank of India v. M/s. Benex Industries

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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