Allowed

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

DRT7 Jan 2026OA/915/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application for recovery of Rs. 34,27,920.65 with future interest and costs. The defendants were declared jointly and severally liable, and the court ordered the issuance of a recovery certificate.

What did the court decide?

Joint and several liability to pay Rs. 34,27,920.65 with future interest and costs; OA claim secured by mortgage; entitlement to proceed against properties; issue of Recovery Certificate.

City Union Bank Limited versus M/S. Jiva Steels Pvt.Ltd. — Execution and Attachment | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE OTTH DAY OF JANUARY, 2026

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), lvl.A.

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PRESIDING OFFICER

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ORIGINAL APPLICATION No: 915 OF 2025

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Clty Union Bank Limited., Bala naga r Branch, D.No.6-3-134/1 Plot No.21, A1 Ameen Plaza, Balanagar lvlain Road, Balanagar, Hydera bad-500037. Rep. by its Authorized Signatory.

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.....Applicant.

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Versus

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M/s. liva Steels Pvt. Ltd., H. No.11-58/30, GP Complex Fatehnagar, Hydera bad - 500037,

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Sri Deva nsh Agarwal

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S/o. Late Sudheer Agarwa I Aged 32 Years, Occ: Business, Male Resident of H.No.6l 3 / 680/821 4Ol Siri Residency, Somajiguda Hyderabad - 500082.

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Sri. Ritul Agarwal

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S/o. Late Sudheer Agarwal

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Aged 31 Years, Occ: Business, l4ale Resldent of H.No.6/ 3 / 6A0 / 82/ 401

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Siri Residency, Somajiguda, Hyderabad - 500082.

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Smt. Meena Agarwal W/o. Late Sudheer Agarwal Aged 54 Years, Occ: Business, Female Resident of Flat No.D-101, Sethi Towers, Raj Bhavan, Erramanzil Hyderabad - 500082.

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... Defendants

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Counsel for the Applicant : Mr. R. Rajendra Prasad

Defendants

: Ex-parte Owu

oA.NO.91s1202s

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.34,27,920.65ps towards A/c.No.5 12O2OOLOOLA424 from the defendants joinuy and severally with future interest @t7o/o^p.a. with monthly rests from the date of application till the date of realization along with costs and in default for sale of OA schedule properties.

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Summons served on D1 and 4, whereas summons served on D2 and 3 through paper publication. They were set ex_parte on 06.01.2026 as called absent and no representation.

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The Applicant Bank examined S R Bhaskaran, Legal tvlanager, as AW-1 and marked 20 documents through him as Ex. A.1 to Ex. A.20.

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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 enti ed for the claim made in the OA against the Defendants and OA schedule properties?

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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.20 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinuy and severally liable to pay the OA claim to the Applicant Bank with future interest and costs. fu*x

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oA.No.9$/202s

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is 7.^{In the result, the present originalAPPlicationNo,915/2025} allowed^{as under: -}

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. ^,a iointly^{and severally}

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rhe^{Defendants are iointlv} ;l;-^{]-ru* or}

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i) liable^{to puy to the ApplicantBan[< a sumc} towards^A/c'No'

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3s.34,27'920'65Ps future^interest

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5120200f^{OOf e+Z+ with -} the^{date of} simPle .':o*

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@12'50o/o^; applicatio"^{;';thedate of realization;}

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ii)theoAclaimissecuredbywayofmortgage of O'op"n'"s^{described in the schedule} annexed^{t" tn" OA and the applicantbank is} entitled^{to proceedagainst 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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B.TheApplicantBankisdirectedtofileCostMemowithin2weeks 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 parties concerned'} (Dictatedtothesteno,corrected,signedandpronouncedbymeintheopencourton this the^{07th DaY ofJanuarY,2026]r'}

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/iw1vr'b (kAMesnwAR KoTHE) PRESIDING OFFICER

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

Case brief

What is this about?

What did the court decide?

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

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

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Case details

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