Allowed

Indusind Bank Limited v. M/S. Shaik Dada Saheb

DRT17 Jun 2025OA/326/2024

Case brief

AI extract

What is this about?

Debt Recovery Tribunal allowed an application to recover loan dues of Rs.1,80,72,173/- from joint and several defendants. The court held the defendants liable to pay the amount with interest and upheld the bank's right to realize debt from mortgaged properties.

What did the court decide?

Defendants to pay Rs.1,80,72,173/- with interest; bank entitled to realize debt from mortgaged properties and recover costs.

Indusind Bank Limited versus M/S. Shaik Dada Saheb — Execution and Attachment | DRT (2025)

¶1

IN THE DEBTS RECOVERY^{TRIBUNAL-II AT HYDERABAD}

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DATED THIS THE 17rH^DAY oF^{JUNE, 2025}

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PRESENT: SH. RAMESHWAR^{KOTHE,B.Com., L.LB. (Hons.), M'A'}

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PRESIDING OFFICER

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ORIGINAL APPLICATION^{No: 326 OF 2024}

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Indusind Bank Limited., Secunderabad^Branch, Laxmi t-B-448,^{S.P Road,} BegumPet,^{Secunderabad'} nep. nY^{its AuthorizedSignatorY'}

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....,APPlicant.

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Versus

¶9

M/s.^{Shaik Dada Saheb'} - 'Suntn' nbP^{bY its Proorietor} ,r',^ik Shaik^ouOu '⁷⁹ '?nu'n [u *tn^u U::; :f t,uu1 J,""'' Occ:^Bus 6nou,. l,itru ,Ij9;i:te''i'f,le^{n..u p rad esh} KadaPa'

¶10

z^{u1 s!35:isfl,?Tiln,,} S/o'Sha"- - nrc' BUsiness' ti :^{L:,Ll iZi iu1"'i'.'rT'i' ffiT?l} p ra o esn ruo^u Pu''"vi-g'^{Dist-5 t 6(}

¶11

3'^{shaik rarl'1111fiff:J'*'} w/o.^{shaix vau"nil.} Housewife,. sn ...Defendants " [i^: l:n;ii?:-T{ $t'l'^{mlt?rP r a o} KadaPa'^{YSR Dist->r'}

¶12

: M/s'Peri^{Venkata Ramana}

¶13

Counsel^{for the Applicant} : Ex-Parte Defendants Y/,.,.k* -$'t

oa.No.326/2024

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,80,72,173/- as on 30.04.2024 i.e., a sum of Rs.t,59,07,54s1- under Loan A/c. No.652000019125 and a sum of Rs.21,64,628/ - under Loan A/c. No.50800346 Zg74 frcm the defendants joinUy and severally with future interest @9.67010 p.a. from the date of application till the date of realization along with costs and in default For sale of OA schedule properties.

¶18

Summons served on D1 l publication. They

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were set ex_parte on J::i::"Jr:rJ; representation. absent and no

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The Applicant Bank ej xamined L Tulasi Rao' chief ME

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AW-J and marked l9 documenrs A.1e. ".rnn_n, ",^u;:llT,rl:

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t ,.t - -". uoUDSel for the A passed throush .:;;.::::;:::Bank J€porred orders may be 5' 'o^{Lerral placed} on record. The point that arises a, _"r,0".a,"r

¶23

Whether the tttLtLted "'^{-'ri"'io?licaBank is ennn^,} ouiJio"mdde^{in th^} ^'"" properries?^nts and ior!,f|ii!

¶24

6 As stated ",,^-_

¶25

rhe ;:::"JT II,rl.ffi":TrH."ills,;t la*e ;::::: ffff 1^;;,Jff:.:l J#,_."^#::::::: '"'^r-'i erendants. a,.o ;^,-, , to pay rhe oo ,r,- l^"]llrdants andcosts.^-'-" '^{to the} eppt;caniffilf ffi;::1:

¶26

oA,No326/2024

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¶28

In the result, the present Original Application No.326/2024 is allowed as under: -

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i) The Defendants are joinily and severally liable to pay to the Applicant Bank a sum of Rs.,80,72,1731- as on 30.04.2024 i.e., a sum of Rs.1,59,07,545/- under Loan A/c. No. 652000019126 and a sum of^{Rs.2t,64,628/-} under Loan A/c.^{No. 508003462974with} future interest @9.61%^{p'a' simplefrom the} date of application^{till the date of realization;}

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the OA^{claim is secured by way of mortgage} ii) of^{properties described in the schedule} annexed^{to the OA and the applicant bankis} entitled^{to proceedagainst the same to} realise^{its debt;}

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iii)^{the appricant'.::ff'':il.';::il:"T"":'} asainst^tn" , :.;;.;ion^{or its dues;} defendants^fo iv)^{the app\icant bank is entitled for} M^{the e rn (costs'}

¶32

M^{e rn (costs'rn (costs'(costs'} 8. l:;:i^{::lJ:i ::il:""T::' :""i;i "} ',]"".ou",,"]':,;,,"i",;:[1g:l'i""l"lll.'""J1"?1;"""" 9. and^P "^"

¶33

1. i:.,fi[1ilTi1;rliShit;'''gned

¶34

,$is,,"1$a-"[?lgi

Indusind Bank Limited v. M/S. Shaik Dada Saheb

Case brief

What is this about?

What did the court decide?

Indusind Bank Limited v. M/S. Shaik Dada Saheb

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

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