Allowed

Idfc First Bank Ltd. v. Mr. Challa Raghupathi Reddy

DRT11 Nov 2025OA/553/2024

Case brief

AI extract

What is this about?

The Presiding Officer, in an ex-parte order, allowed the Original Application filed by IDFC First Bank Ltd. for recovery of dues. The court held the defendants liable to pay the principal sum, future interest, and costs, and directed the bank to proceed against hypothecated assets and recover via certificate.

What did the court decide?

Defendants held liable to pay Rs. 1,99,39,153.50 plus future interest and costs; bank entitled to proceed against hypothecated assets and properties; Recovery Certificate issued.

Idfc First Bank Ltd. versus Mr. Challa Raghupathi Reddy — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 11TH DAY OF NOVEMBER, 2025

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

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ORIGINAL APPLICATION No: 553 OF 2024

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IDFC First Bank Ltd., Having its Office at 1-10-63/1/1 Veer Chambers, Chikoti Ga rdens Opp. Shoppers Stop, Begumpet Hyderabad - 500016.

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Rep. by its Authorized Signatory.

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Versus

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Mr. Challa Raghupathi Reddy 3-LL-74/2, Flat No.501, Sai Nivas Enclave. Gokle Na9ar, Ramanthapur Zindatelismath, Amberpet

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Hyderabad, Telangana - 500013.

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l4s. Challa Anitha

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3-7t-14/2, Flat No.501, Sai Nivas Enclave, Gokle Nagar, Ramanthapur Zindatelismath, Amberpet ...Defendants Hyderabad, Telangana - 500013.

¶11

: M/s. Srihari Bathina Counsel for the Applicant

Defendants

: Ex-parte

::^qLqEB ::

The Applicant Bank Rled the^{present OA for the recoverya total} sum of Rs.1,99,39,153.50ps^{as on 08.07.2024towardsLoan} A/c.Nos.112565639, 112563580,^{712471106,7L2567664,} 1L256452O & 112566336 from the^{defendants jointlyand} severally with future interest @13.26010^{p.a'- along with 2o/o} r#

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oA.NO.553/2024

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of p.m. interest from the date of application till the date of reallzation along with costs and in default for sale hypothecated assets.

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Summons served on D1 and 2. They were set ex-parte 15.09.2025 as called absent and no representatlon.

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The Applicant Bank examined Deepika Hotker, Legal Manager, as AW-1 and marked 12 documents through her as Ex. A.1 to Ex. A.12.

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Ld. Counsel for the Applicant Bank reported no oral arguments. Perused the written arguments and material placed on record.

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The point that arises for conslderation is:-

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

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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.12 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are joinuy and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.553/2024 ts allowed as under: -

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i) The Defendants are joinuy and severally liable to pay to the Applicant Bank a sum of AWo

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oA.NO.553/2024

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Rs.1,99,39,153.50ps as on 08.07.2024 towards Loan Alc. Nos. 112565639, 112563580, t1247r106, 772567664, 112564520 & 112566336; with future interest @13.2690 p.a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of hypothecation of assets described in the schedule annexed to the OA and the applicant bank is entitled to^proceed against the same to realise its debt;

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iii) the applicant bank is also entitled to^proceed against the person and properties of defendants for realization of its dues;

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iv) the applicant bank is entltled for the costs.

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The Applicant Bank is 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, signed and pronounced bY me in the open court^on this the 11!h Day of November,^2025).

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Ri*P

¶36

(RAMESHWAR KOTHE) PRESIDING OFFICER

Idfc First Bank Ltd. v. Mr. Challa Raghupathi Reddy

Case brief

What is this about?

What did the court decide?

Idfc First Bank Ltd. v. Mr. Challa Raghupathi Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

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