Allowed

Central Bank of India v. M/s. Kanaka Durga Trading Co.

DRT25 Jun 2026OA/971/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by Central Bank of India for recovery of Rs. 1.06 crores with interest and costs against trading firm and proprietor who remained ex-parte, holding them jointly and severally liable.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 1.06,10,266/- with future interest @9.35% p.a.; bank entitled to proceed against hypothecated assets and defendants' properties; Recovery Certificate

Central Bank of India versus M/s. Kanaka Durga… — Contract and Commercial Disputes | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

¶2

DATED THIS THE 25TH DAY OF JUNE, 2026

¶3

PRESENT: SH. RAMESHWAR KOTHE, B.Com., L,LB.^(Hons.), M.A. PRESIDING OFFICER

¶4

ORIGINAL APPL]CATION NO: 971 OF 2025

¶5

Central Bank of India., lvliyapur Branch, Plot No.B, Mini Industrial Estate, Upstairs of Hyundai Service Centre Miya pu r, Hyderabad. Rep. by its Authorized Signatory.

¶6

.....Applicant.

¶7

Versus

¶8

M/s. Kanaka Durga Trading Co., Represented by its Proprietor D. No.6- 302/40/5, Balapur X Roads RCI Road, Triveni Nagar, Hyderabad Telangana.

¶9

1.4r. Nagi Reddy Venkata Thirupal Reddy, S/o. Nagi Reddy Rami Reddy Aged 44 Years, Occ: Buslness, lvlale R/o. D. No.6-302/40/5, Balapur X Roads RCI Road, Trlveni Nagar, Hyderabad Telangana.

¶10

... Defendants

¶11

Counsel for the Applicant : M/s. Momln Mohammed Rafiq

Defendants

: Ex-parte

:: ORDER ::

The Applicant Bank filed the^present OA for the recovery a total sum of Rs.1.06,10,266l- towards Cash Credit Facility from^the defendants^jointly and severally with future interest @9.8070 p.a. with monthly rests along with 2olo penal interest from the 'i* ;u:\ 't-'"

¶16

oA.NO.971/2025

¶17

¶18

date of application till the date of realization along with costs and in default for sale of hypothecated assets.

¶19

Summons served on D1 and 2 through paper publication. They were set exparte on 18.06.2026 as called absent and no representation.

¶20

The Applicant Bank examined K Vishnu Priya, Legal Manager, as AW-1 and marked 14 documents through her as Ex. A.1 to Ex. 4.74.

¶21

Heard the Ld. Counsel for the Applicant Bank.^perused the material placed on record.

¶22

The point that arises for consideration is:-

¶23

Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated assets ?

¶24

As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.14 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.

¶25

In the result, the present Original Application No.97112025 is allowed as under: -

¶26

i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of oY'r"

¶27

oA.NO.971l2025

¶28

¶29

Rs.1,06,10,266l- towards Cash Credit Facility with future interest @9.35% p.a. simple from the date of application till the date of realization;

¶30

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;

¶31

iii) the applicant bank is also entitled to proceed against the person and properties of defendants for realization of its dues;

¶32

iv) the applicant bank is entitled for the costs.

¶33

B. The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

¶34

Issue Recovery Certiflcate accordingly.

¶35

Communicate a copy of this order to the parties concerned. {Dictated^{to thesteno, corrected,signed} and^pronounced by me in the open court^on this the 25rh Day oflune,2025).

¶36

P.'(us HWAR KOTHE) PRESIDING OFFICER

Central Bank of India v. M/s. Kanaka Durga Trading Co.

Case brief

What is this about?

What did the court decide?

Central Bank of India v. M/s. Kanaka Durga Trading Co.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Bank of Baroda versus M/s. Valuva.

Bank of Baroda versus varikuppala prasad

Karnataka Bank Limited versus Mr. Gantasala Siva Ramakrishna

Canara Bank versus M/S.Farmdean Hospitality LLP

State Bank of India versus Mrs. Sampangi Nagalakshmamma

Hdfc Bank versus Nadida Ipathi Reddy