Allowed

Idbi Bank Ltd. v. Mr. Mohammed Masiuddin

DRT13 May 2025OA/341/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by IDBI Bank Ltd against two loan defaults. The bank claimed recovery of Rs. 52,20,844.19 plus interest and future interest with a request to sell mortgaged property, supported by documentary evidence from an officer.

What did the court decide?

Joint and several liability to pay Rs. 52,20,844.19 plus interest @ 9.70% p.a. and future interest; right to sell mortgaged property and proceed against personal properties; costs of OA granted.

Idbi Bank Ltd. versus Mr. Mohammed Masiuddin — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE 13TH DAY OF MAY, 2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING^OFFICER OA.No.341 of 2024

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Between:

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IDBI Bank Ltd, Basheerbagh branch, Hyderabad, TS. Represented by its Asst. Gen Manager

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Applica nt

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VERSUS

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Mr. Mohammed Masiuddin, Male, S/o Sri MohdNaseeruddin, Aged 38 years, H.no,.6-4-92/6/A, Habeebnagar, Mahabubnagar Telangana State - 509 001.

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Mrs. Asmalabeen, Female, W/o Mr. Mohammed Masiuddin Aged 36 years, H.no,.6-4-92/61A, Habeebnagar, Mahabubnagar Telangana State - 509 001.

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Also at

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Both defendants 1 and 2 are residing At plot no.19, viratnagar, Sri Laxmi Enclave, Karmanghat, Hyderabad-^58.

¶12

H.No.6-10/785,^plot no.14(southside) Survey no.570, Damma Keesara Municipality Malkajgiri distrlct. Defendants Counsel for the^Pa For the Applicant ivas Chitturu For the Defendants @';#9

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(OA. No.341 of 2024)

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ORDER

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The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.52,2O,844.19ps (Rupees Fifty Two Lakhs Twenty Thousand Eight Hundred Forty Four and paise Nineteen only) with future interest @ 9.70o/o p.a with monthly rests from date oF application till the date of realization and in default for sale of mortgaged property as mentioned in the schedule to OA.

¶16

As per the averments in the application, the Applicant Bank states that defendants availed Home loan of Rs.46.50 lakhs and executed home loan agreement on 03.9.2020 and also availed Insurance premium loan of Rs.1,87,9771- on L6.02.2021. The home loan availed by defendants is secured by equitable mortgage of schedule mentioned property by deposit of title deeds dated 04.03.2023. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NPA on 12.09.2023 and demand notice was issued on 22.02.2024. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence-this OA.

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Defendants No.1 & on 25.02.2025. 7k 13 ilAY 7ff6 :

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(OA.No.341 of 2024)

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Sri P.S. Varaprasad,Asst. Gen Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1to A.11.

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Heard the Ld. Counsel for the Applicant Bank.

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The^point that arise for consideration is whether the^{ApplicantBank is} entitled for the claim made in the OA against the Defendants as Prayed^for?

¶22

Defendants No.1 & 2 remained exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited relevant documents as Ex.A1 to A.11.^In view of the above, I hold that the Applicant Bank^{has established} their claim made in the OA against the Defendants and^{hence the} Applicant Bank is entitled to recover the claim made in the OA^with future interest and costs.

¶23

In the result, the^present OA is allowed with costs, as under: The Defendants No.1 & 2 are^jointly and severally liable to^{pay to} the Applicant Bank a total sum of Rs.52,2O,844.19ps^(Rupees Fifty Two Lakhs Twenty Thousand Eight Hundred Forty^Four and paise Nineteen on re interest @ 9.70o/o p.a from

¶24

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¶25

(oA.No.341 of 2024)

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The Applicant bank is entitled to proceed against the mortgaged property as mentioned in the schedule to OA towards realization of the debt due;

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The Applicant Bank is also entitled to proceed against the person and properties oF defendantstowards realization of the debt due.

¶28

The Applicant Bank is entiued to 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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(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 13th day of May, 2025)

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sd/-

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(G. GOPTCHAND) PRESIDING OFFICER

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¶36

Idbi Bank Ltd. v. Mr. Mohammed Masiuddin

Case brief

What is this about?

What did the court decide?

Idbi Bank Ltd. v. Mr. Mohammed Masiuddin

Case brief

What is this about?

What did the court decide?

What the court decided

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