Idbi Bank v. Sreedharan
Case brief
What is this about?
The Debt Recovery Tribunal allowed the bank's application for recovery of Rs. 35.24 crore from four individual guarantors who had guaranteed a corporate debtor's loan facility. The court accepted the bank's evidence and passed an order allowing recovery jointly and severally.
What did the court decide?
Recovery of total sum of Rs. 35,24,16,179.40 from defendants 1 to 4 jointly and severally, including further interest, with liberty to sell immovable properties for recovery.
What the court decided
T.A. No. 92 of 2023
04.12.2025
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 04th day of December, 2025
Present: SMT. S.V. GOWRAMMA Presiding Officer
TRANSFERRED APPLICATION No. 92 of 2023
(Originally filed before DRT- II, Chennai as OA 517/2020 and thereafter transferred to this Tribunal and renumbered as TA No 92 of 2023)
IDBI Bank Limited, Having its Registered Office at IDBI Tower, WTC Complex, Cuffe Parade, Mumbai – 400 005. And having one of its Branch Offices at No. 115, Anna Salai, Saidapet, Chennai – 600 015 Rep. by its Authorized Signatory / Deputy General Manager. ….Applicant
-Vs-
- Mr. K. Sreedharan,
Issues for consideration
1 issue framed by the court
Whether the bank is entitled to final order for recovery of dues from the guarantors.
Parties & counsel
- applicant
IDBI Bank Limited
- respondent
K. Sreedharan
- respondent
S. Suthakar
- respondent
S. Kamalam
- respondent
Aquasol Technologies LLP
- respondent
Case details
As recorded by the court registry
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