Allowed

Idbi Bank v. Sandeep Yadav P

DRT31 Dec 2025OA/38/2024

Case brief

AI extract

What is this about?

IDBI Bank filed an Original Application under the RDB Act seeking a recovery certificate against borrowers defaulting on a housing loan. The defendants appeared ex parte. The Tribunal found the claim admissible and within limitation, allowing it with interest reduced to 8% simple.

What did the court decide?

Issuance of Recovery Certificate for Rs. 67,97,963/- with interest at 8% p.a. (simple) and permission to execute against schedule properties.

Idbi Bank versus Sandeep Yadav P — Contract and Commercial Disputes | 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 OA.No.38/2024

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BETWEEN:

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IDBI Bank limited Retail recovery –RBG No. 58, IDBI house, Mission road, Bangalore – 560 027

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Represented by its Deputy General Manager

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Sri. G Basanth Chakravarthy …APPLICANT

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AND:

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Sri. Sandeep Yadav P S/o. Sri. Parika Gopal Krishna Aged about 37 years Flat no. 802, block A Aparna Serene Park, Masjid Banda Road, Near Hcu Kondapur Kv Ranga Reddy – 500 084 Telangana

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Smt. Parika Sunitha Devi W/o. Sri. Parika Gopal Krishna Aged about 54 years Flat no. 802, block A Aparna Serene Park, Masjid Banda Road, Near Hcu Kondapur Kv Ranga Reddy – 500 084 Telangana

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M/s. MM Destiny Developers Partnership firm Represented by its partner Smt. Mirudhula Jogi

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OA-38/2024

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No. 203, Kalpana Pride Homes 9^th Cross, Kodihalli, Bangalore – 560 008

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Smt. Muni Manasa Gopuram W/o. Sri. Naveen Kumar Aged about 34 years No. 2-2-1108/1/2, Opposite Petrol Bunk New Nallakunta Hyderabad, Telangana – 560 044

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Smt. Mrudhula Jogi D/o. Sri. Subramanyan V Aged about 36 years Flat No. B-305, Ashish JK Apartments, Thubarahalli, Bangalore – 560 066

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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. 6, 7, 8 & 9 Are residing at: No. 210, Thubarahalli Village, Varthur Main Road, Bangalore – 560 066 ...DEFENDANTS

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OA-38/2024

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Counsel on record/appeared for:

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Applicant : T P Muthanna Defendants : Ex parte

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FINAL ORDER

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The present Original Application in short (OA) has been filed under section 19 of Recovery of Debts and Bankruptcy Act 1993 seeking for issuance of Recovery Certificate against the defendants for Rs. 67,97,963/- (Rupees Sixty Seven Lakhs Ninety Seven Thousand Nine Hundred and Sixty Three 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 1^st defendant is availed a Housing loan of Rs. 70,00,000/- (Rupees Seventy Lakhs Only) for purchase of a flat.

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It is also the case of the applicant that, in view of the above availed loan, the defendants executed the necessary loan document along with tripartite agreement.

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It is further contended that, despite availing the credit facility, agreeing to service the loan amount 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-38/2024

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Despite, service of summons on the defendants, they failed to appear, resulting the defendants being set ex parte 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 ex parte. The evidence tendered by the applicant remains uncontroverted and undisputed.

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The evidences put forth by the applicant were found admissible

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and are sufficient to prove availment of credit facility as stated in the

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OA, and the defaults committed in the accounts. The liability of the defendants and the claim of the amount due is also proved by the

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above documents. The claim of the applicant is well within the

OA-38/2024

limitation.

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

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finds that both these issues are in favour of applicant and hence, this

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Tribunal is of the view that OA is to be allowed.

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Taking into consideration the facts that the credit facility are availed for Housing purpose and also that the OA claim is arrived at by calculating interest at the agreed rate, this Tribunal is of the view that the OA can be allowed with a reduced interest of 8.00% (simple).

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In the result, OA.No.38/2024, stands allowed,

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i) The applicant is allowed to recover an aggregate sum of

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Rs. 67,97,963/- (Rupees Sixty Seven Lakhs Ninety Seven Thousand Nine Hundred and Sixty Three Only) with further interest @8.00 % p.a.(simple) from the date of filing OA till the realization, from the defendants jointly, severally and personally, after giving credit to all the amounts recovered and received during the pendency of the OA

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and allowed the same to be recovered by proceeding against the schedule properties. Properties schedule to the OA be the schedule to the recovery certificate.

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ii) If the sale proceeds are not found sufficient the defendants are jointly, severally and personally & their other assets are liable to be proceeded against for realization of respective dues.

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OA-38/2024

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iii) The applicant bank is allowed cost of the proceedings

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which applicant to file cost memo within 7 days from the date of

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receipt of the order.

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iv) The Recovery Certificate to be drawn in terms of this order

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and transferred to Recovery for execution.

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v) Interim application pending, if any, are disposed of with this

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Final Order.

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Communicate a copy of the order to the parties concerned in

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terms of Section 19(21)(i) of the RDB Act, read with Rule 16 of DRT

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(Procedure) Rules, 1993.

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

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Sd/-

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(T. RAJESH) PRESIDING OFFICER

OA-38/2024

ANNEXURES

WITNESSES EXAMINED FOR THE APPLICANT BANK:

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AW-1: Urmila Sahoo, W/o. Sri. Subhendu Sundeer Sahoo, AGM and

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Authorized officer, 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 home loan sanction letter dated 27.03.2022 along with the home loan application
A2	Copy of home loan agreement dated 30.03.2022
A3	Copy of the power of attorney dated 30.03.2022
A4	Copy of the affidavit dated 30.03.2022
A5	Copy of the indemnity bond dated 30.03.2022
A6	Copy of the declaration and undertaking dated 30.03.2022
A7	Copy of the sale agreement dated 22.03.2022
A8	Copy of the tripartite agreement executed by the defendants no. 1,2,3 and application bank dated 30.03.2022
A9	Copy of the loan recall notice to the defendants no. 1 & 2 dated 10.08.2023
A10	Copy of the notice issued to defendant no. 3 dated 30.08.2023
A11	Copy of the notice issued to defendant no. 6 to 9 dated 30.08.2023
A12	Copy of the statement of account certified under bankers book o evidence act-showing the outstanding liability under home loan account no. 0202675100131568

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Witness Examined for the Defendants:

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-Nil -

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List of Documents Exhibited for the Defendants:

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-Nil -

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Sd/-

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(T. RAJESH) PRESIDING OFFICER

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8 OA-38/2024

Idbi Bank v. Sandeep Yadav P

Case brief

What is this about?

What did the court decide?

Idbi Bank v. Sandeep Yadav P

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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