Allowed

Kotak Mahindra Bank Limited v. Mr. Amgothu Shekhar

DRT30 Jan 2026OA/339/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's original application for recovery of a loan sum and interest against the defendants, holding them jointly and severally liable and directing issuance of a recovery certificate.

What did the court decide?

Defendants liable to pay Rs.40,33,515/- plus interest; bank to proceed with hypothecated vehicles and properties; issue recovery certificate.

Kotak Mahindra Bank Limited versus Mr. Amgothu Shekhar — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 3OTH DAY OF JANUARY, 2026 PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 339 OF 2O2S Kotak Mahindra Bank Ltd. Office at 6-3-LL09/ L/p/302 3'd floor, lewel^pavani Towers, Rajbhavan Road, Somajiguda, Hyderabad-500082. . . .. ,Applica nt.

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Versus
1-. Mr. Amgothu Shekhar,
S/o. Amgothu Dasya. Aged: 32 years,
Occ: Business, R/o. H. No. 18-7-525,
Chatrinka New p S, Kandikalgate,
Bandlaguda, Hyderabad-500053.
Also at:
R/o. H No. 8-6-1029-38/4, Road No.4
Venkata Ramana Colony, Hastinapuram
Hydera bad- 500070..
Also at:
Mr. Amgothu Shekhar
R/o. Plot No. 56/4, GFLR Venkataramana
Colony, Near Sai Baba Temple, Vanasthalipuram
Hydera bad-500070.

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Mrs. Amgothu Umli, W/o. A Dasya
Aged: 52 years, Occ: House wife
R/o. Plot No. 56/4, GFLR Venkataramana
Colony, Near Sai Baba Temple, Vanasthalipuram
Hydera bad -500070.
3. Mr. Amgothu Dasya, S/o. Seetyaa
Aged: 57 years, Occ: Business,
R/o. Plot No. 56/A, GFLR Venkataramana
Colony, Near Sai Baba l_e-mple, Vanasthalipuram
Hyderabad-500070. ft.nXrX ...Defendants

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oA.NO.339/202s

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Counsel^{for the APP|icant}

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Defendants

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: Mr. M.^{SrinivasReddY}

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: Ex-parte

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:: ORDER^::

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The Applicant^{Bank filed the present OA for the recoverya total} sum of^{Rs.40,33,515/- from the defendants jointly and} severally^{with future interest@18o/o p'a' from the date of} application^{till the date of realization along wlth costs and ln} default^{for sale of hypothecated vehicles'}

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Summons^{served on D1 to 3 through paper publication'They} were set^{ex-parte on 22'08'2025 as called absentandno} representation.

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The Applicant^{Bank examined Mr' Abhishek P S' Assistant} Manager,^{as AW-1and marked7 documents through him as Ex'} A.1 to Ex. A.7.

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Heard the^{Ld. Counselfor the Applicant Bank' Perused the} material Placed^{on record'}

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The^point that^{arises for consideration is:-}

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Whether the^{Appticant Bank is entitled} for the claim^{madein the OA against} the Defendants^{and OA hypothecated} vehicles?

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As stated supra,^{the Defendants remained ex-parte'The} Evidence Affidavit^{coupled with the recitafilhe documents} (/10*x

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oA,NO.339/202s

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viz., Exs. A.1 to A.7 marked on^{behalf of the ApplicantBank} clinches the claim of the^{Applicant Bank against the Defendants.} Hence, I hold that the^{Defendants are jointlyand severallyliable} 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,339/2025is} allowed as under:^-

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i) The Defendants are^jointly and^severally liable to pay to the Applicant Bank a^{sum of} Rs.40,33,515/- with future interest @10.42olo 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 vehicles 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 entitled for the costs.

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B. The Applicant Bank is directed to file Cost Memo within^{2 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 rrffi:^.1il.".n"0.

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oA.NO.339/202s

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(Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 30th Day ofJanuary, 2025).

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ffir'a

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Kotak Mahindra Bank Limited v. Mr. Amgothu Shekhar

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Kotak Mahindra Bank Limited v. Mr. Amgothu Shekhar

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