Debts Recovery Tribunals and Appellate Tribunals
STATE BANK OF INDIA vs M/S. UNIVERSAL PT P LTD & ORS (BLR) on 27 April 2026
IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA
AT BENGALURU
Dated this 27th Day of April, 2026
Present: Sri. T. RAJESH
Presiding Officer
TA.No.950/2017
(OA No. 1703/2016)
BETWEEN:
State Bank of India,
Stressed Assets Management
Branch, St. Marks Road,
Bengaluru- 560001,
Represented by its Assistant
General Manager.
…APPLICANT
AND:
1. M/s. Universal Power Transformer Private Limited, Having its Registered office at, 26/A, II Phase, Peenya Industrial Area, Bangalore- 560058.
Represented by its Managing Director.
2. Sri. Dhruwa Talwalkar,
S/o Dr. P.A. Talwalkar,
312, 6-A, Embassy Wood,
Cunnigham Road,
Bangalore- 560001.
3. Sri. Narasimha Dwarakanath,
S/o Sri. S.N.R Sastry,
65, 4th Main, 18th Cross,
Malleswaram,
Bangalore – 560055.
4. Sri. Venkataramaiah Yechuri,
S/o Sri. Y.B. Haranath,
B-3/701, Lunkad Colonnade,
Vaman Nagar,
Pune- 411014.
Also at 3605-2191, Yonnge St.,
Toronto, ON M4S 3H8,
Canada.
TA 950/2017
5. M/s. UPT Transformer (Uttaranchal) Pvt Ltd.
Plot No. 38, Sector 8A,
SIDCUL Industrial Estate,
Ranipur District,
Haridwar- 249403.
...DEFENDANTS
Counsel on record/appeared for:
Applicant
: V S Associates
Defendant No. 1 to 5
: Exparte
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ORDER
1. The Application was filed before the Debts Recovery Tribunal-I, Bengaluru on 10.06.2016 Under Section 19 (1) of the Recovery of Debt And Bankruptcy Act, 1993 and numbered as OA No. 1703/2016. Subsequently, owing to bifurcation of jurisdiction vide Government of India Gazette Notification dated 30.01.2017, the Application (OA No. 1703/2016) was transferred from Debts Recovery Tribunal -I, Bangalore to this Tribunal and renumbered as TA No. 950/2017.
2. This TA is filed seeking recovery of the amount claimed to be due from the defendants. It is during the pendency of the TA One of the Operational Creditors filed an application u/s 9 of the Insolvency and Bankruptcy Code where Corporate Insolvency Resolution Process has been commenced by admission of the said case. It is also stated that against the personal guarantors also measures under the I & B Code has been initiated leading to a moratorium being operational against the defendants to the TA.
3. Being that the situation this original application related to 2016 and has been pending for long, this Tribunal is of the view that taking note of the moratorium the TA can be closed giving liberty to the applicant bank to reopen the same in the
TA 950/2017
event of the legal impediment in proceeding against the defendants are lifted. Hence TA 950/2017 stands closed. (Dictated to PY directly on the Computer, after its transcription, corrected and pronounced by me in the open Court on this the 27th day of April, 2026)
Sd/- (T. RAJESH) PRESIDING OFFICER