Allowed

Bank of India v. Seku Kondaiah @ Konda Reddy

DRT29 Jun 2026OA/176/2026

Case brief

AI extract

What is this about?

In this Original Application filed under SARFAESI Act, the Debts Recovery Tribunal allowed the bank's claim for recovery of dues from defaulted borrowers and their guarantor, exercising powers under Section 13(2) to enforce security. The respondents did not appear and the court pronounced the order ex parte.

What did the court decide?

Direct recovery of Rs.92,20,582.80 plus future interest and costs; order issuance of Recovery Certificate and sale of mortgaged property.

Bank of India versus Seku Kondaiah @ Konda Reddy — Execution and Attachment | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL - I AT HYDERABAD DATED THIS THE 29th DAY OF JUNE, 2026

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PRESENT: SRI cUMMAD| cOptCHAND, PREStDtNG OFFTCER

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OA. No. 176 OF 2026

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Between :

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Bank of lndia, Hyderabad Main Branch, Nampally Station Road Abids, Hyderabad.

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Represented by its Authorised Officer

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Applicant

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VERSUS

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Seku Kondaiah

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@^{Konda Reddy,}

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S/o. Seku Subbareddy, Aged about 46 years, Occ: Employee, Male, R/o. H.No. 88-103,

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Sri Purandhara Puram, Buchireddipalem, Nellore,

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Andhra Pradesh - 524 305

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Also at -

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R/o.

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and AppIieO science, n,

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(oA. No. U6l2026)

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Also at -

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Flat no. 301 , 3rd Floor, GVR Aavas, Plot No. 23,24,25,32,33 & 34, Sy.No. 282,283,284,302,305, 31 0 Part, Ragnannaguda

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Turkayamjal Village & Municipality, Abdullapurmet Mandal, Ranga Reddy District, Telangana State - 501 510,

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Also at -

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R/o. H.No. B8-103, Sripurandharapuram, Buchireddipalm,

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Potti Sriramulu Nellore Dist, Andhra Pradesh - 524 305.

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MunnangiSubbareddy, S/o, Munnangi Raghavareddy, Aged about 68 years, Occ: Retired, Male,

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R/o. H.No.8-139,

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Redla Bazar,

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Chilakaluripet, Guntur- 522616.

Defendants

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?e JU/II

(oA. No. 17612026)

Counsel for the parties :

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For The Applicant Mr. V. Sethu Madhava Rao For the Defendant Exparte Reserved on 29.06.2026 Pronounced on 29.06.2026 Upload in website on 30.06.2026

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ORDER

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The Applicant Bank filed the present OA against Defendants for recovery of a total sum of Rs.92,20,5g2.g0. ps. (Rupees Ninety Two Lakhs Twenty Thousand Five Hundred Eighty Two and Paise Eighty Only) i.e a sum of -

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(i) Rs.84,60,829.40 Ps. Under Star Home Loan Account together with future rate of interest @9.50% (7.5o/o + 2o/o penal) p.a with monthly rests from the date of this application till the date of realization;

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.7,59,753.40 Ps. Under Personal Loan account with future rate of interest @11.OOo/o (9.00o/o + 2o/o l: z s JUn rr,r : ,,ii. t 3 \1,,h-,.-"-I.# \p=i:p''i.".;i" -irT_=-==,-

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(OA. No. 17612025)

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penal) p.a with monthly rests from the date of this application till the date of realization;

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and in default for sale of Mortgaged Property as mentioned in the Schedule of Property to OA.

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As per the averments in the application, the Applicant Bank states that Defendants No.1 availed Star Home Loan facility of Rs.85,00,0001 repayable in 300 EMI of Rs.69,8831^p.m with interest @8.75% p.a with monthly rests and executed Home loan Agreement dated 08.05.2023 in favor of the Applicant Bank. The Defendant No. 2 stood as a Guarantor and executed Deed of Guarantee dated 08.05.2023 in favor of the Applicant Bank.^The Defendant No. 1 availed personal Loan of Rs.9.90 Lakhs repayable in 84 EMI of Rs.16,564/-^p.m with interest @10.25o/o p.a with monthly rests and executed Loan Agreement dated 15.05.2023 in favor of the Applicant Bank. The Defendant^{No. 2} stood as a Guarantor and executed Deed of^{Guarantee dated} 15.05.2023 in favor of the Applicant Bank. The Defendants created equitable mortgaged morefully mentioned^{in Schedule of} Property to OA and executed Memorandum of^Deposit of^Title Deeds dated 10.05,2023 and deposited Registered sale^deed 10.05.2023 in favor of the Applicant bank.^{Afteravailing} facility, the defendants failed to comply the^{terms of} ,^{hence the applicant bank classified the account as} lul' ?11rilPA?11rilPA .01.2026 and issued RecallNotice dated^21.01.2026

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2I lul' ?11rilPA?11rilPA

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'(&,*"*r4ty

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(OA. No. 17612026)

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and Demand Notice dated 14.01.2026 under section 13(2) of SARFAESI Act, 2002 to the defendants. lnspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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Defendants called absent and set exparte on 29.06.2026.

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Smt. Rachuru Rekha, Senior Manager of the Applicant Bank examined herself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 lo A.27.

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arise for consideration is whether the Applicant bank is entitled for the claim made in the OA against the Defendants as prayed for?

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Defendants remained exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Appticant Bank was examined and she exhibited relevant documents as Ex.A.1 to 4.27. ln view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants the Applicant Bank is entitled to recover the claim d. with future interest and costs. tip u * 29Jutl42p fir

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(OA. No. 17612025)

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ln the result, the present OA is allowed with costs, as under :

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The Defendants No. I and 2 are^jointly and severally liable to pay to the Applicant Bank a total sum of Rs.92,20,5g2.g0. ps. (Rupees Ninety Two Lakhs Twenty Thousand Five Hundred Eighty Two and paise Eighty Only) i.e a sum of -

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(i) Rs.84,60,829.40 ps. Under Star Home Loan Account together with future rate of interest @1.5% p.a from the date of this application till the date of realization;

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(ii) Rs.7,59,753.40 ps. Under personal Loan account together with future rate of interest @9.00% p.a from the date of this application till the date of realization;

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L The Applicant Bank is entifled to proceed against the Mortgaged property as mentioned in the Schedule of the Property to the OA towards realization of the debt due.

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The Applicant Bank is also entitled to proceed against the and properties of Defendants No. 1 and 2 towards the debt due.

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2 I JUr,l 262g

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(oA. No. t76/2026)

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That Applicant Bank is entifled to the costs of the OA.

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The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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lssue Recovery Certificate accordingly.

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Communicate a copy of the order to the parties concerned.

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(Dictated^to.1he P A , transcribed by her, corrected, signed and pronounced by me in the open court on this the 29th day ofJun, 2026)

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sd/-

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(G. GOPTCHAND) PRESIDING OFFICER

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Bank of India v. Seku Kondaiah @ Konda Reddy

Case brief

What is this about?

What did the court decide?

Bank of India v. Seku Kondaiah @ Konda Reddy

Case brief

What is this about?

What did the court decide?

What the court decided

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