Allowed

Karnataka Bank Ltd. v. Marapareddy Gari Saraswathi Reddy

DRT12 Jan 2026OA/987/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Karnataka Bank Ltd. for recovery of a sum of Rs.22,20,058.64 plus interest and costs from the defendants jointly and severally, upheld the security of the hypothecated vehicle, and issued a recovery certificate.

What did the court decide?

Defendants jointly and severally liable to pay Rs.22,20,058.64 plus interest; bank entitled to proceeds from hypothecated vehicle and defendant properties; recovery certificate issued; costs awarded.

Karnataka Bank Ltd. versus Marapareddy Gari Saraswathi Reddy — Money Laundering | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 12TH DAY OF JANUARY, 2026

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PRESENT: SH. RAN4ESHWAR KOTHE, B.Com., L.LB. (Hons.), lY.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 987 OF 2025

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Karnataka Bank Ltd., Branch Offige at D.No.13-3-304 1st Floor, Thakal Towers, Railway Feeder Road, Ananthapuramu - 515001(AP). Rep. by its Senior Branch Manager.

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.....Applica nt.

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Versus

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Marapareddy Gari Saraswathi Reddy W/o. Marapareddy Gari Narasimha Reddy Aged about 46 Years, Occ: Business Rl o. 2242, Chiyyedu, Ananthapuramu District - 515721, Andhra Pradesh.

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Marapareddy Gari Likhitha Reddy D/o. Marapareddy Gari Narasimha Reddy Aged about 21 Years, Occ: Business Rlo. 6-46, Gara Bavi Kottala, Narpala Ananthapuramu District-515425, Andhra Pradesh.

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.,. Mr. Bosi Venu Kumar, S/o. Bosi Lingamaiah, Aged about 49 Years Occ: Business, R/o. D.No.4-51, Thopudurthi Village, Atmakuru Mandal, Ananthapuramu District, Andhra Pradesh - 515751.

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...Defendants

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Counsel for the Applicant

: Mr. K. Srinivasulu

Defendants

: Ex-parte

:: qLq_LL ::

1, The Applicant Bank filed the^present OA for the recovery a total sum of Rs.22,20,058.64ps as on 23.10.2025,,.from the

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oA.NO.987/2025

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defendants jointly and severally with future interest @14.25olo p.a. from the date of application till the date of realization along with costs and in default for sale of hypothecated vehlcle.

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Summons served on D1 and 2, whereas summons sent to D3 returned with endorsement refused hence, deemed to be served. They were set ex-parte on 08.01.2026 as called absent and no representation.

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The Applicant Bank examined M. Santosh Kumar, Senior Branch 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 Applicant Bank is enti ed for the claim made in the OA against the Defendants and OA hypothecated vehicle?

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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 Original AppliRiion No.987/2025 is allowed as under: - trfrit'r\

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oA.NO.987/202s

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.22,20,058.64ps with future interest @9.59olo^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 vehicle 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 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. 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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[?"lll:l=,-:^{a copy of this order to the parties concerned.} =", I 3,:ll': I ;: ::: :':,1? ::';"^.1:l :' this the 12th Day of January, 2026). ;s" ; ; ; ; ;; # ffi ", rlil J I 1", u ".

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ESHWAR KOTHE) PRESIDING OFFICEd

Karnataka Bank Ltd. v. Marapareddy Gari Saraswathi Reddy

Case brief

What is this about?

What did the court decide?

Karnataka Bank Ltd. v. Marapareddy Gari Saraswathi Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

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