The Tribunal allowed the application filed by Union Bank of India for recovery of a term loan of Rs. 23.05 Lakhs plus interest and costs from the defaulting borrowers, sellers, and guarantors who were absent.
Directed defendants to pay Rs. 23,05,349.00 along with future interest at 10.75% p.a., costs, and authorized recovery from mortgaged property.
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IN THE DEBTS RECOVERY TRIBUNAL - !AT HYDERABAD DATED THIS THE OTth DAY OF JULY, 2026
PRESENT: SRI GUMMADI GOPICHAND, PRES|DtNG OFFTCER
TA. No. 01OF 2026
Between :
Union Bank of lndia, Kondapaka Branch, Opposite Rudreshwara Alayam, Kondapaka Village and Mandal, Siddipet District erstwhile Medak District, Telangana Represented by its Authorized Signatory Applicant VERSUS 1. Mis. Sun Formulations, Proprietary concern of Sri. Ramakrishna Reddy Gadeela, Office at: 4641A 1, Kondapaka, Kondapaka, Siddipet, Telangana - 502372 Email: sunformulations'1 @gmail.com Mob:9502522322 Also at - H. No:1-100 Kondapaka, Kondapaka, Medak, Telangana - 502372
(rA. No. 01/2026)
Email: s u nform u lations l @gmail.com Mob:9502522322
Also at - H. No:1-100 Kondapaka, Kondapaka, Medak, Telangana -502372
Defendants
Counsel for the parties :
For The Applicant : M/s. Chavan & Associates Law firm
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ORDER
(rA. No. 01/2026)
the Applicant bank. After availing theloan facility, the defendants failed to comply theterms of sanction,hencethe applicant bank classified the account asNPA on 28.08.2023and issued Legal Notice dated 07.12.2025 to thedefendants. lnspite of several requests and demands,the defendantsdid not clear the outstanding. Hence thisOA.
Heard the Ld. Counsel for the Applicant Bank.
The point that arise for consideration is whetherthe Applicant bank is entitled for the claim made in theOA against the Defendants as prayed for?
(IA. No. 01/2026)
The Defendants no. 1 to 3 are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.23,05,349.00 ps. (Rupees Twenty Three Lakhs Five Thousand Three Hundred and Forty Nine Only) together wlth future rate of interest @10.75% p.a from 01.Oj.2026 tiil the date of rea lization.
of order.
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(rA. No. 01/2026)
'13. lssue Recovery Certificate accordingly.
(Dictated to the P.A, transcribed by her. corrected. srgned andpronounced by me in the open courton this the 07'h day of Jul, 2026)
sd/(G. GOPICHAND) PRESIDING OFFICER
dw
1 issue framed by the court
Whether the Applicant Bank is entitled to the claim made in the OA against the Defendants for recovery of loan amount and interest.
1 provisions across 1 enactments
Union Bank of India, Kondapaka Branch
M/s. Sun Formulations, Proprietary concern of Sri. Ramakrishna Reddy Gadeela
Sri. Ramakrishna Reddy Gadeela
Sri. Gadeela Dashamentha Reddy
Sri Gummadi Gopichand
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
