Allowed

Indian Bank v. Ms Sai Nandanas Edifice

DRT24 Apr 2026OA/985/2025

Case brief

AI extract

What is this about?

In a debt recovery matter, the Debts Recovery Tribunal allowed the applicant bank's claim for recovery of approximately Rs. 26.18 lakhs jointly and severally from the respondents, along with interest, costs, and rights over hypothecated assets.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 26,18,269/- with interest; applicant entitled to proceed against hypothecated assets and properties; Recovery Certificate issued.

Indian Bank versus Ms Sai Nandanas Edifice — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE 24TH DAY OF APRIL, 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: 985 OF 2025

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Indian Bank., Gachibowli Branch, Plot No.12-16 Indlra Nagar, Cyber Apartments Gachibowli PO, Rangareddy^District Hyderabad - 500032. Rep. by its Authorized Signatory.

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.....Applica nt.

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Versus

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M/s. Sai Nandana's Edifice Prop: Mrs. Nalini Talluri H.No.5-453/A, Near Park, Deepthi Srl Nagar, Madinaguda,^{M iyaPUr} Hyderabad - 500049.

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lvl rs. Nalini Talluri

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W/o. Mr. P. Koteswara^Rao

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Major, Prop: Sai Nandana's^Edifice H.No.5-453/4, Near Park,^Deepthi Sri Nagar, Madinaguda,^{M iyaPU'} Hydera bad - 500049. ... Defendants

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Counsel for the^APP|icant

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: Mr. R. V. Subba Rao

Defendants

:Ex-parte

:: qLLLL ::

The Appllcant Bank^{filed the present OA for the retovery a total} sum of Rs.26,18,269/- ftom the^{defendants jointly and} severally with future interest @11.850/0^{p.a. from the date of} application titl the date of^{realization alongwith costs and in} default for sale of^{hypothecatedassers.ffu"/,\tr*} (./

'^'"

oA.NO.98s/202s

Summons served on D1 and 2 through paper publication. They were set ex-parte on 30.03.2026 as called absent and no representation.

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The Applicant Bank examined Deepak K Shriwas, Legal Manager, as AW-1 and marked 11 documents through him as Ex. A.1 to Ex. A.11.

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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 Appticant Bank is entitted for the claim made in the OA against the Defendants and OA hypothecated assets?

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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.11 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 Originat Application No.9B5/202S is allowed as under: -

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i) The Defendants are joinUy and severally liable to pay to the Applicant Bank a sum of Rs' 26' 1 8' 26el- *nnrh'i:,)-,,t'&'t @ 1 1 85o/o (J/,-1u-"

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oA.NO.98sl202s

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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} 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;

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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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The Appllcant 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^{thls order to the parties concerned.} (Dictated to the steno. corrected, siSned and^{pronounced by me in the open court on} this the 24rh oav ofApril,^2026).

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Oy*'u (RAMESHWAR KOTHE) PRESIDING OFFICER

Indian Bank v. Ms Sai Nandanas Edifice

Case brief

What is this about?

What did the court decide?

Indian Bank v. Ms Sai Nandanas Edifice

Case brief

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What did the court decide?

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