Allowed

Idfc First Bank Ltd. v. Mrs. Kaluri Indravathi

DRT31 Oct 2025OA/508/2024

Case brief

AI extract

What is this about?

In an Original Application for debt recovery, the Debts Recovery Tribunal found the Defendant absent and held the bank's claim supported by documentary evidence. The Tribunal allowed the application, directing the Defendant to pay the principal sum along with future interest, costs, and allowing recovery proceedings against properties.

What did the court decide?

Defendant directed to pay Rs. 27,54,147.65/- ps with future interest; Applicant entitled to proceed against person/property and costs; Recovery Certificate to be issued.

Idfc First Bank Ltd. versus Mrs. Kaluri Indravathi — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 31St DAY OF OCTOBER, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 508 OF 2024

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IDFC FIRST BANK Ltd,, Having its office at 1-10-63/71, Veer Chambers, Chikoti Gardens, Opp. Shoppers Stop, Begumpet, Hyderabad - 500 016

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......Applicant.

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Versus

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lv'lrs. KALURI IN DRAVATHI R/o. 102 PLOT HIG 265 PADMAJA ARCADE, 6th PHASE KUKATPALLY HYDERABAD, TELANGANA,5OOOT2.

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ALSO AT:

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ROAD NO.5, VUAYA NAGAR COLONY, KUKATPALLY, NEAR URBAN SUPER MARKET, TELANGANA,5OOOT2.

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...Defendant

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Counsel for the Applicant : Mr Srihari Bathina

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Counsel for the Defendants : Ex-parte

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:: oRDER ::

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The Applicant Bank filed the present OA for the recovery a total sum of Rs. 27,54,147.65/- ps towards Loan A/c.No.87448897

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from the defendant with future interest @_14olo p.a. along with fu,*r

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oa.No.s08/2024

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penal interest @2olo^{p.m. compoundedmonthlyFrom the date of} the date of realization^{along with costs.} application^till

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Summon served^{on sole} defendant through^{paper publicationand} 25.04.2025 as called^{absent and no}

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was set ex-parte^on representation.

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The Applicant Bank^examined Ms. Deepika Hotker, Legal 5 documents through her^as

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l,lanager, as AW-1^{and marked} Ex.A.1 to Ex.A.5.

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Ld. Counsel for^{the Applicant Bankstated orders maybe passed} on merits.^{Perusedthe materialplaced 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 ctaim^{madein the OA against} the Defendant?

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As stated^{supra, the Defendant remainedex-parteTheEvidence} Exs A l

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Affidavit^{coupledwith the recitals in the documents viz} ' to A.5^{marked on behalf of the Applicant Bank clinches the claim} of the^{Applicant Bank againstthe Defendants'Hence' I hold that} the DeFendant^{is liable to pay the OA clalmto the Applicant Bank} with future^{interest and costs}

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In the result, the^{present Original Application No 508/2025is} allowed^{as under: -}

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i) The Defendant^{is liable to pay to the Applicant} Bank a sum^{of Rs' 27,54,147} '65l-^{ps towards} personat Loan^Fu.itity *itzq-l-:"#tt^@

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oA.NO.508/2024

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!4o/o^p.a. simple from^{the date of application} tlll the date of^realization;

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ii) the apPlicant bank^{is also entitled to proceed} agalnst the^{person and properties of} defendants for^{realizationof its dues;}

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iii) the applicant^{bankis entitledfor the costs'}

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The ApPlicant^{Bankis directed to file Cost Memo within2 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, corrected,^{signedand pronounced by me in the open court on} this the 31'r^{oay of october,2025).}

¶37

x(re (RAMESHWAR KOTHE) PRESIDING OFFICER

Idfc First Bank Ltd. v. Mrs. Kaluri Indravathi

Case brief

What is this about?

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Idfc First Bank Ltd. v. Mrs. Kaluri Indravathi

Case brief

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