Allowed

M/S. Idfc First Bank Ltd. v. Mr. M. Varada Reddy

DRT26 Dec 2025OA/866/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's recovery application. Holding that the defendant is liable for the outstanding loan, interest, and costs based on unchallenged documentary evidence, the tribunal directed recovery via hypothecated vehicle and issuance of a Recovery Certificate.

What did the court decide?

Defendant ordered to pay Rs. 26.22 lakhs with interest; recovery via hypothecated vehicle permitted; Recovery Certificate issued.

M/S. Idfc First Bank Ltd. versus Mr. M. Varada Reddy — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 26TH DAY OF DECEMBER, 2025 PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 866 OF 2025

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f4/s. IDFC First Bank Ltd., Having its Office at 1-10-63/1/l Veer Chambers, Chikoti Garden; Opp. Shoppers Stop, Begumpet Hyderabad - 500016. Rep. by its Authorlzed Signatory.

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.....Applicant.

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Versus

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Mr. M. Varada Reddy Plot No.148, Aero Nagar, Hal Employees Colony Industries Gajularamaram leedimetla Near VNR Vizan Hastal Hydera bad, Telangana - 500055.

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Also at:-

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Ivlr. lvl. Varada Reddy

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H.No.4-3-24, Friends Colony, Puppa lag uda Rajendra Nagar, Med plex Pharmacy KV Rangareddy, Telangana - 500089.

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...Defendant

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: Mr. Srihari Bathina Counsel for the Applicant Defendant : Ex-parteEx-parte

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: Ex-parteEx-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.26,22,235.98ps towards Loan A/ c.No.t22922896 from the defendant with future interest @14yo p.a. along with 2olo p.m. with monthly rests from the date of application tilt the

.trrt'"---

oA.NO.866/202s

date of realization along with costs and in default for sale of hypothecated vehicle.

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Summon served on sole defendant through paper publication

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and was set ex-parte on 18.12.2025 as called absent and no

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representation.

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The Applicant Bank examined Deepika Hotker, Legal Manager, as AW-1 and marked Og documents through her as Ex.A.1 to Ex.A.08.

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Ld. Counsel for the Applicant Bank stated orders may be passed

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on merits.^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 entitted for the claim made in the OA aganst the Defendant and OA hypothecated vehicle?

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As stated supra, the Defendant remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.l to A.O8 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is 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.866/2025 is allowed as under: -

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i) The Defendant is liable to pay to the Applicant Bank a sum of Rs.26,22,2 35.98ps 4n--

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oA.NO.866/202s

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towards Loan A/ c.No. t22g22gg6 with future interest @9.45olo p.a. simple from the date of application Ull the date of realization;

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

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iii) the applicant bank is also entiHed to proceed against the person and properties of deFendants for realization of its dues;

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iv) the applicant bank is entiued for the costs.

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The Applicant Bank is directed to fite Cost Memo within 2 weeks

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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, cofiected, signed and pronouncea Uy me inlfr;;;;il;rn this the 25rh Day of December,2025).

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Ov'*" (RAMESHWAR KOTHE) PRESIDING OFFICER

M/S. Idfc First Bank Ltd. v. Mr. M. Varada Reddy

Case brief

What is this about?

What did the court decide?

M/S. Idfc First Bank Ltd. v. Mr. M. Varada Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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