Allowed

Bank of India v. M/s. Sri Laxmi Prasanna Waddera Labour Contract Co-operative Society Limited.

DRT30 Jan 2026OA/968/2025

Case brief

AI extract

What is this about?

This order allowed an Original Application filed by Bank of India for recovery of owed loan amounts, interest, and costs from the defendant cooperative society and its president via ex-parte proceedings.

What did the court decide?

Defendants jointly and severally liable to pay principal, future interest at 14% and 7.50% p.a., and costs; Recovery Certificate issued.

Bank of India versus M/s. Sri Laxmi Prasanna Waddera Labour… — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE 3OTH DAY OF ]ANUARY, 2026

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PRESENT: SH. RAMESHWAR KOTHE, B.Com,, L.LB. (HonS.), M.A.

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PRESIDING OFFICER

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Original Application No: 968 OF 2025

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Bank of India., Khairatabad Branch, Grou nd Floor PTI Building, A C Guards, Khairatabad Hyderabad - 500004. Rep. by its Constituted Attorney.

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...Appiicant

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Versus

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1, M/s. Sri Laxmi Prasanna Waddera Labour Contrac,t Co-operative Society Limited., Represented by its President Sri. Pallapu Buchaiah, D.No. 12-1-587/2, GSI Road Bandlaguda, Hyderabad - 68.

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Sri. Pallapu Buchaiah, S/o. Rama Swamy Aged 54 Years, Occ: Business

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R/o.H.No. 12-1-587/2, GSI Road Bandlaguda, Hyderabad - 68,

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......Defendants

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Counsel for the Applicant : Mr. D. Brahma Reddy

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Defendants

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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 of a sum of Rs.28,43,576.77 ps i.e., a sum of Rs.28,73,770.75ps towards OD Loan A/c. No.860925110000027 with future interest @14olo^p.a. and a sum of Rs.29,746.02ps towards GECL Loan A/c. No. 860970210000204 with future interest @7.5090 p.a. from the defendants^jointly and severally compoqnded monthly rests^plus2olo I^{n\</sup> ,r.<sup>,}

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OA.No.968/2025

penal interest from the date of application till the date of realisation along with costs.

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Summons served on D1 and 2 through paper publication. They were set ex-parte on 28.0L.2Q26 as called absent and no representation.

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The Applicant Bank examined B Anusree, Asst. Manager as AW-1 and marked 35 documents through her as Ex. A.1 to Ex. A.35.

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Heard the Ld, Counsel for the Applicant Bank. Perused the materiat 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?

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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.35 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 with future interest and costs.

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In the result, the present Original Application No.968/2025 is allowed as under: -

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.28,43,516.77ps i.e., a sum of Rs.28,13,770.75ps towards OD Loan A/c.No.860925110000027 and a sum of Rs.29,746.02ps towards GECL Loan A/c. No. O$lY'u

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OA.No.968/2025

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860970210000204; with future interest @L4o/o p.a. simple, from the date of application till the date of realization;

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ii) the applicant bank is also entitled to proceed against th," person and properties of the defendant for realization of its dues;

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iii) the applicant bank is entitled for the costs.

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B. The Applicant Bank is directed to file cost Memo within 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. (Dictated to the steno., transcribed by him, corrected, signed and pronounced by me in the open courj on this the 30th day of January,2026).

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a a:

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rur;$"'''.,'''''' (RAMESHWAR KOTHE) PRESIDING OFFICER

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\lv tr rLvr atrrlt\ t\v t i lL,

Bank of India v. M/s. Sri Laxmi Prasanna Waddera Labour Contract Co-operative Society Limited.

Case brief

What is this about?

What did the court decide?

Bank of India v. M/s. Sri Laxmi Prasanna Waddera Labour Contract Co-operative Society Limited.

Case brief

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What did the court decide?

What the court decided

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