Allowed

Idfc First Bank Limited "Now" v. Kalisetty Kalyan

DRT18 Sept 2025OA/408/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the original application filed by IDFC First Bank against two defendants for the recovery of a bank demand sum along with interest and costs, holding them jointly and severally liable on ex-parte evidence.

What did the court decide?

Defendants jointly and severally liable to pay Rs.68,91,599.27 with future interest at 14% p.a. simple, costs, and recovery proceedings.

Idfc First Bank Limited "Now" versus Kalisetty Kalyan — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD

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DATED THIS THE 18TH DAY OF SEPTEMBER, 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: 408 OF 2024

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IDFC First Bank Limited "Now" Earlier M/s. Capital First Limited., Door No.6-3-354, 2"d Floor, S B Towers Near Nagarjuna Circle, Banjara Hills Road No.1, Hyderabad - 500034. Rep. by its Authorized Signatory.

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...Applicant

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Versus

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Kalisetty Kalyan

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S/o. Kalisetty Sreenivasa Rao Aged about 43 Years, Occ: Business H.No.2 2 120, Vijaya Puri Colony Uppal Near Ramaswamy Function Hall Near Sai Baba Temple, KV Rangareddy-500039.

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Kalisetty Lakshmi Anuradha

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Wo.^Kalisetty Kalyan Aged about 38 Years, Occ: Business H.No.2 2 120, Vijaya^puri Cotony Uppal Near Ramaswamy Function Hall Near Sai Baba Temple, KV Rangareddy-500039.

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...... Defendants

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Counsel for the Applicant : M/s. V.Santosh Defendants : Ex-parte

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:: ORDER ::

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The Applicant Bank filed the present OA for the recovery of a total sum of Rs.68,91,599.21ps as on 13.03.2o24from the defendants jointly and severally with future interest @24olo p.a. with monthly ,) frtr(n*'s'q

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OA.No.408/2024

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rests from the date of application till the date of realisation along with costs.

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Summons served on D1 & 2 through paper publication. They were set ex-parte on 09.07.2025 as called absent and no representation.

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The Applicant Bank examined Akash Ghosh, Legal Manager as AW-1 and marked 11 documents through him as Ex. A.1 to Ex. A.11.

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Heard the Ld. Counsel for the Applicant Bank. Perused the material placed on record.

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The point that arises for consideration is:-

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants?

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.^{A.1 to} A.11 marked on behalf of the Applicant Bank clinches the^{claim of} the Applicant Bank against the Defendants.^Hence, I^{hold thatthe} Defendants are^jointly and severally^liable to^{pay the OA claim to} the Applicant Bank with future^{interestand costs.}

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In the result, the^present Original Application^{No.408/2024is} allowed as under:^-

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i) The Defendants are^jointly and^{severally liable to pay to} the Applicant Bank a sum of^{Rs.68,91,599.27ps with} future interest @14olo^p.a. simple, from the date^of application till the date of reatizatio@$ttX\h

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OA.No.408/2024

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ii) the applicant bank is atso entifled to proceed against the person and properties of the defendant for realization of its dues;

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iii) the applicant bank is entifled for the costs.

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The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno., transcribed by him, corected, signed and pronounced by me in the open court on thisthe 18th day of Septem ber, 2025).

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Av.^,.t*' ,,'ro"' (R{},IESHWAR KOTHE) PRESIDING OFFICER

Idfc First Bank Limited "Now" v. Kalisetty Kalyan

Case brief

What is this about?

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Idfc First Bank Limited "Now" v. Kalisetty Kalyan

Case brief

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