Allowed

Idbi Bank Limited v. Sri. Haligi Ramesh

DRT23 Apr 2025OA/396/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an Originating Application filed by IDBI Bank Ltd. for recovery of a loan amount with interest against two defendants, holding the bank established its claim via documentary evidence.

What did the court decide?

Defendants jointly and severally liable to pay Rs.47,65,703.51 with interest; recovery certificate issued; proceedings against mortgaged property allowed.

Idbi Bank Limited versus Sri. Haligi Ramesh — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THrs rHE 23*oDAy oF ApRrL, zozs

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA.No.396 of 2024

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Between:

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IDBI Bank Limited, Mahavir House, Basheerbagh square, Hyderabad - 500 029. Rep by its Asst. General Manager

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Applicant

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VERSUS

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Sri Haligi Ramesh, s/o Sri H. MaryaPPa, aged 35^years, male, H. No.4-2 48/5/3,^{ground floor,} Velankanninagar, Shamshabad, Ranga Reddy, Dharmagiri^road, Telangana - 501 218.

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Also at:

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Plot no.227^(southern Part), Sy.No.s1O8/part , t}9/part^{and 110/part,} Harmony, Dharmagiri, Shamshabad, Ward and block no.4, Shamshabad Municipality, Ranga Reddy^district.

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Also at:

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H.No. l'7 l, Wasar village, Medak district, TS.

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Mrs. HaligeShineY, w/o H, Ramesh, aged 30^years, female, H. No.4-2 48/5/3,^{ground floor;} Velankanninagar, Shamshabad, Ranga Reddy, Dharmagiri^road, Telangana - 501 218.

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,- Defendants , ,

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(oA. No.396/202a)

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Counsel for the Pa rties:

For the Applicant

For the Defendants

Sri C. Prabhakar

Expa rte

ORDER

The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs,47t65,703.51ps (Rupees Forty Seven Lakhs Sixty Five Thousand Seven hundred and three and paise fifty one only) (Rs.46,2O,631.51ps + Rs,1,45,O72/-) with further interest @ 11.10o/o p.a with monthly rests from date of filing of OA till the date of realization and in default for sale of mortgaged property as mentioned in the schedule to OA.

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As per the averments in the application, the Applicant Bank states that defendant No.1 and 2 availed home loan of Rs.44,50,000/- on 26.05.2022. Defendant no.1 created equitable mortgage on 09.06.2022 by way of deposit oF sale deed no.10059/2021 dated 27.12.2021 in respect of OA schedule prpeprty. Defendants also availed insurance premium loan of Rs.1,45,551/- on 16.06.2022 and executed necessary documents. After availing the loan facilities, the defendants failed to comply the terms of sanction, hence the ' '::^{* 'ti'} applicant Oari( ftias cohstrained^'to\6lassify the account as NPA and i' r' (,., \ issued recall notic-e ? -dated 3 roa 2025 17.05.29i1. ". i Inspite of several requests

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".., :.',.2:.: . ,^.?:>.. ',; {'.,. j :-' .!.1 . :. -. }*.'-

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(oA. No.396/2024)

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and demands, the defendants did not clear the outstanding. Hence this OA.

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Defendants No.1 & 2 called absent and set exparte on 18.72.2024.

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Sri Surya Vara Prasad, 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 ihe Applicant Bank is entitled for the claim made in the OA against the Defendants as prayed for?

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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.

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B. nt OA is allowed with costs, as under:

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(OA.No.39612024\

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The Defendants No.1& 2 are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.47,65,7O3.51ps (Rupees Forty Seven Lakhs Sixty Five Thousand Seven hundred and three and paise fifty one only) (Rs.46,20,631.51ps + Rs.1,45,072/-) with further interest @ 11.10% p.a from date of filing of OA till the date of realization.

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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 defendants towards realization of the debt due,

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The Applicant Bank is entitled 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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the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on of April, 2025)

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sdl -

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(G. GOPTCHAND) PRESIDING OFFICER rt"w' '1. DR4I, H'.

Idbi Bank Limited v. Sri. Haligi Ramesh

Case brief

What is this about?

What did the court decide?

Idbi Bank Limited v. Sri. Haligi Ramesh

Case brief

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What did the court decide?

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