Allowed

Idbi Bank v. Smt. Dandampally Varalaxmi

DRT21 May 2025OA/304/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by IDBI Bank against the defendant for recovery of a defaulted personal loan and insurance premium amounting to approximately Rs. 50.12 lakhs with interest. The defendant was absent, and the bank established its claim through documentary evidence.

What did the court decide?

Recovery order for principal sum of Rs. 50,12,129.04 with interest at 9.45% p.a. from 30.06.2024, costs of OA, and issuance of Recovery Certificate.

Idbi Bank versus Smt. Dandampally Varalaxmi — Service and Employment | DRT (2025)

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IN THE DEBTS RECOVERYTRIBUNAL.I AT HYDERABAD

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DATED THIS THE 21ST DAY OF MAY'2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER OA.No.3O4 ol2024

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Between :

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IDBI BanK, Retail Recovery, Zonal office, Nampally, Hyderabad, TS. Represented by its Asst General Manager Applicant

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VERSUS

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SmtDandampallyVaralaxmi, W/o D. Naga Raju, Aged 41 years, occ: business, H.No.4201, 2nd floor, phase - 2, Road no,12, Near MIG, BHEL, Tellapur (V) Hyderabad.

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Defendant

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Counsel for the Parties: For the Applicant Dr. Sha ikFa hem u lla h For the Defendant Expa rte

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ORDER

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The Applicant Bank- filed the present OA against Defendant for sLvvsr Y ur d . r/)l' vQecove"^ol.u total sum of Rs.50,12,129.O4ps (Rupees Fifty //a^^Iarns nnnii i/ e &$^{,b</sup> Thousand One hundred Twenty Nine and paise interest @ 9.45% p.a with monthly rests from ,Jrk " ,Foiii only)'w ,i^t ,il date of realization. "JtLlg0,. tu*. 'i'?;"{W}

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(OA.No.304/202a)

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As^per the averments^{in the application, the ApplicantBankstates} that defendant availed^{personal loan facility for a sum of Rs'39'00} lakhs and executed Home^{loan agreement dated24.03'2023'The} defendant also availed^{loan for insurancepremium for Rs'87,7U/'} vide sanction letter dated^{17.09.2018. Afteravailingthe loan} facility, the defendant^{failed to comply the terms of sanction, hence} the applicant bank^{was constrained to classify the account as NPA on} 30,06.2021 and^{issued demand notice dated 07.02.2024. Inspite of} several requests and demands,^{the defendant did not clear the} outstanding. Hence^{this OA.}

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Defendant called absent and^{set exparte on 2L.04.2025.}

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Sri N, Srikanth, Asst. General^{Manager of the Applicant Bank} examined himself as^{AW.1and exhibited relevantdocuments,which} are marked as Ex.A.1to^{A. 13.}

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Heard the Ld. Counsel for the Applicant^Bank.

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The point that arise for consideration^{is whetherthe ApplicantBank is} entitled for the claim made in the OA^{against the Defendantas} prayed for?

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:d absent and set exparte.^To substantiate^{the case}

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1$r nt Bank, AW.1, official of the Applicant Bank^was

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exannif6d exhibited relevant documents as^{Ex.A1to A.13. In} view of ve, I hold that the Applicant Bank has established --t'^S

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"tsariJ!r:'o/

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(oA.No.304/2024)

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their claim made in the^{OA against the Defendant and hencethe} Applicant Bank is entitled to^{recover the claim madein the OA with} future interest and costs.

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In the result, the^{present OA is allowed with costs, as under:} The Defendant is liable to^{pay to the Applicant Bank a total sum of} Rs.sO,12,129.O4ps^{(RupeesFifty Lakhs Twelve Thousand One} hundred Twenty Nine and^{paise Four only) with interest@} 9.45o/o^p.a from tO.06'2024^{till the date of realization.}

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the Applicant Bank^{is also entitled to proceedagalnst the personand} properties of defendant towards realization^{of the debtdue.}

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The Applicant Bank^{is entitledto the costs of the OA.}

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The Applicant shall file^{a cost memo within two weeks from the date} of receipt of order.

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Issue Recovery certificate^accordingly.

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Communicate a copy^{of the order to the parties concerned'}

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bed by her, corrected,^{signedand pronounced by me in theopen} May'2025)

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sd/-
(G. GOPTCHAND)
PRESTDING OFFICER

Idbi Bank v. Smt. Dandampally Varalaxmi

Case brief

What is this about?

What did the court decide?

Idbi Bank v. Smt. Dandampally Varalaxmi

Case brief

What is this about?

What did the court decide?

What the court decided

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