In an ex-parte proceedings, the Tribunal allowed the bank's application for a Recovery Certificate under the RDB Act. The claim for the principal loan amount and interest was deemed valid as it was uncontroverted evidence.
Recovery Certificate drawn for Rs. 60,33,458/- plus future interest at 12% p.a. from the date of filing until realization.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA AT BENGALURU
Dated this 30th Day of October, 2025
Present: Sri. T. RAJESH
Presiding Officer
OA. No.304/2024
BETWEEN:
IDFC First Bank Limited (Earlier known as capital first limited) Registered office at KRN Towers, 7th Floor, no.1, Hamington Road, Chetpet, Chennai – 600031 and Having branch office at C-1, R.P’s Pride, 1st Floor, 20th Main Road, KHB 5th Block, Opposite to Shri Ganesh Temple, Koramangala, Bengaluru-560095 Rep. by its legal manager and Authorised representative Sri. Raghavendra B …
… APPLICANT
AND:
Accelerate Motors, Rep.by its Proprietor Sri. N Shyam Charmanna, S/o. Sri. Nellamakada C Appaiah, Aged about 53 years, No.335, HVP R R Nagar, Sector B, Ideal Homes Township, Bangalore, Karnataka-560098
Also at: Accelerate Motors, Rep. By its Proprietor Sri. N Shyam Charmanna, No.307-A, HBCS Ideal Home Layout,
OA. No.304/2024
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Rajarajeshwari Nagar, Bangalore-560098
And also at: Accelerate Motors, Represented by its Proprietor Sri. N Shyam Charmanna, No.E-24, Chitrakut Century Apartment, Sahakarnagar, Bangalore-560092
...DEFENDANT
Counsel on record/appeared for: Applicant : M/s. S A Associates Defendant : Exparte
FINAL ORDER
OA. No.304/2024
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appear, resulting the defendant being set exparte on 16.01.2024.
OA. No.304/2024
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Both these issues are gone into and decided together.
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of interest, penal interest/default interest, which this Tribunal considers as on the higher side, pendentalite and future interest is awarded at reduced rate @12.00%p.a.,
Hundred Fifty Eight only) with further interest of 12.00% p.a.(simple) from the date of filing OA till the realization from the defendant, after giving credit to all the amounts recovered and received during the pendency of the OA.
aforesaid amount, the bank is at liberty to proceed against the defendant personally and his other assets are liable for all such amounts due under the loan account.
iii) The applicant bank is allowed cost of the proceeding
which applicant to file cost memo within 7 days from the date of receipt of the order.
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iv) The Recovery Certificate to be drawn in terms of this
order and transferred to Recovery for execution.
with this Final Order.
14. Communicate a copy of the order to the parties concerned
in terms of Section 19(21)(i) of the RDB Act, read with Rule 16 of
DRT (Procedure) Rules, 1993.
[Dictated to the Stenographer (PR), transcribed by her, corrected and signed and pronounced by me in the Open Court, this the 30th Day of October 2025].
ANNEXURES
WITNESSES EXAMINED FOR THE APPLICANT BANK:
AW-1: Sri. Mallesh R, Legal Manager of the applicant bank.
Exhibits on the part of the Applicant:
| Annexure | Particulars |
|---|---|
| A1 | Supply Chain Application form dated 01.01.2020 |
| A2 | Sanction letter dated 29.02.2020 |
| A3 | Loan agreement (Trade Advance) with schedule dated 29.02.2020 |
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| A4 | Account statement |
|---|---|
| A5 | Notice dated 12.10.2023 |
| A6 | Postal receipts dated 13.10.2023 |
| A7 | Returned postal status dated 16.10.2023 |
(T. RAJESH) PRESIDING OFFICER
2 issues framed by the court
Whether the applicant had succeeded in proving its claim against the defendant?
What order should be passed regarding the recovery certificate and interest?
2 provisions across 1 enactments
IDFC First Bank Limited (Earlier known as capital first limited)
T. RAJESH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
