Allowed

Idbi Bank v. Annapoorna a

DRT31 Dec 2025OA/36/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an Original Application filed by IDBI Bank seeking a recovery certificate of Rs. 54.62 lakh against borrowers and guarantors who failed to appear. The Tribunal reduced the interest rate to 10% per annum as the credit was for housing purposes.

What did the court decide?

Allowance of Recovery Certificate for Rs. 52,56,374.00 from all respondents jointly/severally and Rs. 2,05,987.79 from Defendant No. 1 personally with interest at 10% p.a. simple.

Idbi Bank versus Annapoorna a — Execution and Attachment | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA AT BENGALURU

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Dated this 31^st Day of December, 2025

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Present: Sri. T. RAJESH Presiding Officer

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OA.No.36/2024

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BETWEEN:

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The IDBI Bank Limited, Indiranagar Branch, #326, Ashwini Complex, 80 feet Road, Indiranagar, Bengaluru- 560038, Now, the loan account transferred to Retail recovery branch NO. 58, Mission Road, Bengaluru- 560027, Represented through its Deputy General Manager. Sri. G Basanth Chakravarthy.

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…APPLICANT

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AND:

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Smt. Annapoorna A, W/o Sri Boregowda B, Aged about 38 years, No. 5117, 3^rd Main, 2^nd Cross, Kaverinagar, Kathriguppe, Banashankari 3^rd Stage, Bengaluru- 560083.

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M/s. M M Destiny Developers, Partnership Form, Represented by its partner, Smt. Mrudhula Jogi, No. 203, Kalpana Pride Homes, 9^th Cross, Kodihalli, Bengaluru- 560008.

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Smt. Muni Manasa Gopuram, W/o Sri Naveen Kumar, Aged about 34 years, No. 2-2-1108/1/2

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OA 36/2024

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Opposite petrol bunk, New Nallakunta, Hyderabad, Telangana- 500044.

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Smt Mrudhula Jogi, D/o Sri Subramanyan V, Aged about 36 years, Flat No. B-305, Ashish JK Apartments, Thubarahalli, Bengaluru- 560066.

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Sri. T P Dayananda Reddy, S/o Sri Pilla Reddy, Aged about 56 years.

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Smt. R Prabha, W/o Sri T P Dayananda Reddy, Aged about 46 years.

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Smt Rasavanthi Shriya, D/o Sri T P Dayananda Reddy, Aged about 25 years.

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Sri Rakesh Kumar D, S/o Sri T P Dayananda Reddy, Aged about 23 years.

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Sl. Nos 5,6,7 & 8, Are residing at: No. 210, Thubarahalli Village, Varthur Main Road, Bengaluru- 560 066. ...DEFENDANTS

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Counsel on record/appeared for:

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Applicant : M/s. M & R Consult Defendants : EXPARTE

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FINAL ORDER

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The present Original Application in short (OA) has been filed under

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OA 36/2024

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section 19 of Recovery of Debts and Bankruptcy Act 1993 seeking issuance of Recovery Certificate against the defendants for Rs. 54,62,361.79 (Rupees Fifty Four Lakh Sixty Two Thousand Three Hundred Sixty One and Paise Seventy Nine Only) with further interest thereon from the date of filing the Application till realization.

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It is the case of the applicant that the defendant No. 1 is the borrower, defendant No. 1 is the builder, defendant No. 3 & 4 are the partners of defendant No. 2 firm and the defendants No. 5 to 8 are the landowners. The defendant No.1 availed home loan of Rs. 53,80,000/(Rupees Fifty Three Lakh Eighty Thousand Only) and insurance premium of Rs. 1,93,176/- (Rupees One lakh ninety Three Thousand One Hundred seventy Six Only).

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It is also the case of the applicant that, in view of the above availed loans, the defendants executed necessary loan documents along with Tripartite agreement and sale agreement.

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It is further contended that, despite availing the credit facilities, agreeing to service the loan account promptly and regularly, the defendants failed in complying the same, resulting in default in repayment and consequentially turning the loan accounts as NPA.

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In the above circumstances, the applicant approached this Tribunal by filing this OA seeking issuance of Recovery Certificate for the amount due in the account.

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OA 36/2024

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Despite, Summons on defendants they failed to appear resulting the defendants being set exparte on 20.03.2025.

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The applicant had let in evidence through AW-1, who filed Proof Affidavit reiterating the contentions taken in the OA and also produced Exhibits A-1 to A-12 and got the same marked in evidence.

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Heard the Ld. Counsel for the Applicant and considered the contentions as taken in the OA in the light of documentary evidence and proof affidavit.

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The following issues arise for consideration in this matter:

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i) Whether the applicant had succeeded in proving the OA claim as against the defendants?

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ii) What order are to be passed?

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Both these issues are gone into and decided together.

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The case put forth by the applicant in the Application remains unrebutted as defendants remained exparte. The evidence tendered by the applicant remains uncontroverted and undisputed. The evidences put forth by the applicant were found admissible and are sufficient to prove

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availment of credit facilities as stated in the OA, and the defaults committed in the accounts. The liability of the defendants and the claim

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of the amount due are also proved by the above documents. The claim

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OA 36/2024

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of the applicant is well within the limitation.

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Hence in view of the findings arrived herein above, the Tribunal

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find both these issues in favour of applicant and hence, this Tribunal is of

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the view that OA is to be allowed.

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Taking into consideration the facts that the credit facilities are availed for Housing purpose and also that the OA claim is arrived at by calculating interest at the agreed rate, this Tribunal in view of the OA can be allowed with a reduced interest of 10.00% (simple).

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In the result, OA.No.36/2024, stands allowed,

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i) The applicant is allowed to recovery an aggregate sum of Rs.

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54,62,361.79 (Rupees Fifty Four Lakh Sixty Two Thousand Three Hundred

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Sixty One and Paise Seventy Nine Only) with further interest @10.00 %

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p.a.(simple) as follows:-

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a) Rs. 52,56,374.00 (Rupees Fifty Two lakh Fifty Six Thousand Three Hundred Seventy Four Only) from the date of filing OA till the realization, from the defendants No. 1 to 8 jointly, severally & personally, after giving

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credit to all the amount recovered and received during the pendency of

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the OA and allowed the same to be recovered by proceedings against the defendants jointly, severally and personally and also their assets including the schedule property. Properties schedule to the OA be the schedule to

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OA 36/2024

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the recovery certificate.

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b) Rs. 2,05,987.79 (Rupees Two Lakh Five Thousand Nine Hundred Eighty Seven and Paise Seventy Nine Only) from the date of filing OA till the realization, from the defendant No.1 personally, after giving credit to all the amount recovered and received during the pendency of the OA and allowed the same to be recovered by proceeding against the defendant No.1 personally and his assets.

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ii) The applicant bank is allowed cost of the proceedings which applicant to file cost memo within 7 days from the date of receipt of the order.

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iii) The Recovery Certificate to be drawn in terms of this order and transferred to Recovery for execution.

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iv) Interim application pending, if any, stands disposed of in terms of this final order.

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Communicate a copy of the order to the parties concerned in terms

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of Section 19(21)(i) of the RDB Act, read with Rule 16 of DRT (Procedure) Rules, 1993.

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[Dictated to the Stenographer (AJ), transcribed by her, corrected and signed and pronounced by me in the Open Court, this the 31^st Day of December, 2025].

Sd/- (T. RAJESH)

OA 36/2024

ANNEXURES

WITNESSES EXAMINED FOR THE APPLICANT BANK:

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AW-1: Uremila Sahoo, Chief Manager, of Applicant Bank.

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Exhibits on the part of the Applicant:

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Exhibit Nos.	Particulars of Documents
A1	Copy of the home loan application dated 02.02.2022
A2	Copy of the loan for insurance premium application form dated 19.02.2022
A3	Copy of loan sanction letter dated 19.02.2022
A4	Copy of home loan agreement dated 21.02.2022
A5	Copy of the loan for insurance premium agreement dated 24.02.2022
A6	Copy of the sale agreement dated 27.01.2022
A7	Copy of the Tripartite agreement executed by the defendants and applicant bank dated 21.02.2022
A8	Copy of the loan recall notice to the defendant No.1 dated 09.06.2023
A9	Copy of the notice issued to defendant No.2 dated 30.08.2023
A10	Copy of the notice issued to defendant No. 5 to 8 dated 30.08.2023
A11	Copy of the statement of account certified under banker’s book of evidence act showing the outstanding liability under Home loan account No. 0202675100129589
A12	Copy of the statement of account certified under banker’s book of evidence act- showing the outstanding liability under loan for insurance premium account No.02026751001311049

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Witness Examined for the Defendants: -Nil - List of Documents Exhibited for the Defendants: -Nil -

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Sd/- (T. RAJESH)

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PRESIDING OFFICER

Idbi Bank v. Annapoorna a

Case brief

What is this about?

What did the court decide?

Idbi Bank v. Annapoorna a

Case brief

What is this about?

What did the court decide?

What the court decided

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