Allowed

Canara Bank v. M/s. Pp Engineering

DRT5 Mar 2026OA/963/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Canara Bank against M/s. PP Engineering and its proprietor. The court held the defendants liable to pay the claimed sum with interest and costs, issuing a recovery certificate.

What did the court decide?

Defendants ordered to pay Rs. 73,70,085.16 with future interest at 9.15% p.a.; Bank entitled to proceed against hypothecated assets and properties; recovery certificate issued; costs awarded.

Canara Bank versus M/s. Pp Engineering — Money Laundering | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 5th DAY OF MARCH, 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: 963 OF 2025

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Canara Bank, Somajiguda Branch, 6-3-1086, Vista^grand Towers, Rajbhavan Road, Somajiguda, Hyderabad - 500082, Represented by its Authorised Signatory

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.....Applicant.

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Versus

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M/s. PP Engineering, Proprietary concern of Sri. Tullimalli Basavaiah Regd. office at Plot No.dD, Sy. No.519, Ip Nadergul, Balapur, Ranga Reddy District, Tela ngana-501510.

¶8

And also, at

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M/s. PP Engineering, Proprietary concern of Sri. Tullimalli Basavaiah, Regd. Office at Plot No.223, Last Bus Stop, Subhash Nagar, IDA, Jeedimetla, Ranga Reddy District, Telangana-500055.

¶10

And also, at

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M/s. PP Engineering, Proprietary concern of Sri. Tullimalli Basavaiah, Regd. Office at Plot No.8/7, Ip Nadergul, BalaPur, oAV* U,'

¶12

oA.NO.963/202s

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Ranga Reddy District, Telangana-501510.

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Sri. Tullimalli Basavaiah, Proprietor of M/s. PP Engineering, Regd. Office at Plot No.B/7, Sy. No.519, Ip Nadergul, Balapur, Ranga Reddy District, Telangana-501510.

¶15

And also, at

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Sri. Tullimalli Basavaiah, Proprietor of M/s. PP Engineering, Regd. Office at Plot No.223, Last Bus Stop, Subhash Nagar, IDA, Jeedimetla, Ranga Reddy District, Telangana-500055.

¶17

And also, at

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Sri. Tullimalli Basavaiah, Proprietor of M/s. PP Engineering, Regd. Office at Plot No.8/7, Ip Nadergul, Balapur, Ranga Reddy District, Telangana-501510.

¶19

...Defendants

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Counsel for the Applicant : M/s. Chavan & Associates

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Counsel for the Defendants : Ex-pafte

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:: ORDER ::

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The Appticant Bank filed the^present OA for the recovery a total sum of Rs. 73,70,085.16^ps with future interest @11.35%^p.a. from 11.09.2025 till the date of realization along with costs and, in default, sale of OA hypothecated assetyf$r\

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oA.NO.963/202s

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Summon served on Defendants 1 & 2 through paper publication and were set exparte on 26.02.2026 as called absent and no representation,

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The Applicant Bank examined Mr. Prashanth Kumar Singh, Manager, as AW-1 and marked 16 documents through him as Ex.A.1 to Ex.A.16.

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Heard ex-parte arguments from the Ld. Counsel of the Applicant Bank. Perused the material placed on record.

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5, 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 assefsT

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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.16 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.963/2025 is allowed as under: -

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i) The Defendants 1 & 2 are jointly and severally liable to pay to the Applicant Bank a sum Rs, 73,70,085.16 ps with future interest @9.15olo p.a. simple from the date of application till the date of realizationTftxt

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2z-<r{t-v

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oA.NO.953/2025

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ii) the OA claim is secured bY way^of hypothecation of assets as 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 defendants 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 Memowithin 2 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 parties concerned.}

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(Dictated to the steno, corrected, signed and^pronounced by^rpe.la lle^{open court on} this the s"'Day of March, 2026). /l*kdW'l

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/l*kdW'l (RAMESHWAR KOTHE) PRESIDING OFFICER

Canara Bank v. M/s. Pp Engineering

Case brief

What is this about?

What did the court decide?

Canara Bank v. M/s. Pp Engineering

Case brief

What is this about?

What did the court decide?

What the court decided

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