Debt Recovery Tribunal allowed IDBI Bank's original application against five defendants for recovery of a loan principal, future interest, and permission to realize debt through mortgaged properties or sale of hypothecated movables.
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IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD
DATED THIS THE lOrH DAy OF MARCH, 2026
PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER
OA.No.24 ot 2O24
Between:
IDBI Bank Limited, l-5-90/2 & 90/3, New Town, Mahabubnagar, TS. Represented by its Manager
Applicant
VERSUS
Aged about 56 years, occ:business, Male, R/o H.No.3-52, Khanapur village, Rudrasamudram, Makthal mandal, Mahabubnagar district - 509 208.
Khanapur village, Rudrasamudram, Makthal mandal, Mahabubnagar district - 509 208.
Mahabubnagar district - 509 208. 4-,a€*,ll '\U.'
(oA.No.2al202a)
| Counselfor theParties: | |
|---|---|
| FortheApplicant | SriK.P.Saradhi |
| Defendants | Sri D,Raghavulu |
| Orders reservedon | 06.03.2026 |
| Pronouncedon | r0.03.2026 |
| Uploadedin websiteon | r0.03.2026 |
ORDER
(oA.No.24l2024)
cum loan agreement in favour of applicant bank on 24.03.20t6. The loan facility was availed for land development, plantation, civil construction and citrus cultivation. The defendants executed guarantee agreements and defendants no.1 to 4 hypothecated the movable properties in favour of Applicant bank. The defendants mortgaged the schedule mentioned properties in favour of Applicant bank and deposited the tile deeds. It is submitted by the Applicant bank that the Defendants availed the said loan facilities and failed to keep up the repayment schedule, as such the account was classified as NPA on 15.09.2022 and issued recall notice dated 30.11.2022. Inspite of demands made by Applicant the defendants have not regularized the account, and the Applicant bank issued notices, but the defendants did not come forward to repay the same. The total claim of Applicant against defendants is of Rs.56,1O,952.63ps
(Rupees Fifty Six Lakhs Ten Thousand Nine Hundred Fifty Two and paise Sixty Three only) with future interest @ 24% p.a with monthly rests from date of filing of OA till the date of realization. Hence the OA.
made iryO.&,{fqg defendants denied the hypothecation of movables \treof schedule propertiesin favour of Applicant It * the Application is barred by limitation. It 10 ills [6 A-r 4*,
(oA.No.2al202a)
is further contended that the defendants did not receive any notices as alleged by the applicant bank. Hence prayed for dismissal of OA.
ii) To what relief ?
Point No.i):
(OA.No.24/20241
documents are executed by the defendant in the normal course of transaction. The defendants very vaguely contended that particulars made in the OA are not correct. But as per the statement of accounts, the defendants are liable to pay the OA claim. Considering all the circumstances, I am of opinion that the defense taken by the defendants is not tenable. Hence the applicant bank is entiUed to claim the OA amount from defendants, Therefore, the OA claim deserves to be allowed against the defendants.
Point No.ia)
The Defendants No.1 to 5 are jointly and severally liable to pay to Applicant Bank a total sum of Rs.56,10,952.63ps (Rupees Fifty Six Lakhs Ten Thousand Nine Hundred Fifty Two and paise Sixty Three only) with future interest @ 24o/o p.a from date of filing of OA till the date of realization ;
5
(oA.No.2alzozal
(Dictated to the P.A., transcribed by her, corrected, signed and pronounced by me in the open court on this the 10s day of March,2026)
sd/-
(G. GOPTCHAND)
PRESIDING OFFICER
; ,0 rim 2026 ;
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2 issues framed by the court
Whether the applicant bank has proved its claim against the defendants?
What relief is the applicant bank entitled to?
IDBI Bank Limited
Sri K. Venkataiah Goud
Smt K. Padmamma
Sri K. Shashi Kumar Goud
Shri K. Raja Shekhar Goud
Sri Katta Chinna Thayappa
Gummadri Gopichand
As recorded by the court registry
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