Allowed

Indian Bank v. Santosh Kumar

DRT8 Sept 2026OA/386/2026

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an Original Application filed by Indian Bank for recovery of dues. The Defendants were absent. The Tribunal held the bank established its claim and ordered the respondents to pay the outstanding sums with future interest.

What did the court decide?

Directed Defendants to jointly and severally pay total sum of Rs. 1,17,08,836.05 with future interest to the Applicant Bank and proceed against properties for realization.

Indian Bank versus Santosh Kumar — DRT (2026) — LawSathi Research

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IN THE DEBTS RECOVERY TRIBUNAL^_ IAT HYDERABAD DATED THIS THE OTth DAY OF SEPTEMBER, 2026

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER

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OA. No. 386 OF 2026

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Between :

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lndian Bank, Tollychowki Branch, Door No. 81201114, Suryanagar Colony, 7 Toombs Road, Tollychowki, Golconda Post, Hyderabad - 500008, Telangana Represented by its Branch Manager Applicant

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VERSUS

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Mr. Akavaaram Santosh Kumar Son of Akavaram SathyanaGyana H.No.2-9-39/7/31 , Surya Nagar Colony, Mach Bollaram Secunderabad. Pin Code:500010. Telangana State. E-mail: [email protected]; PAN NO. ATNPAl3OTD Mobile No 9642662732.

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(OA. No. 386/2026)

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Mrs. Koti Chinthala Padma Wife of Akavaram Santosh Kumar H.No.2-9-39/7/31 , Surya Nagar Colony, Mach Bollaram Secunderabad. Pin Code: 500010. Telangana State. E-mail: [email protected]; PAN NO. EHBPP8835D. Mobile No 9642662732.

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Defendants

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Counsel for the parties : For The Applicant B. Sivakumar For the Defendant Exparte Reserved on 02.09.2026 Pronounced on 07.09.2026 Upload in website on 08.09.2026

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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.1,17,08,835.05. Ps (Rupees One Crores Seventeen Lakhs Eight Thousand E igight Hundred and Tfil6y. Six and Paise Five Only) i.e a sum of

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[3 siP 202[ (i) ,40,146.42^Ps. under the Home loan account with rate of interest @8.40o/o p.a with monthly rests from

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.05.2026 till the date of realization.

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(oA. No. 386/2026)

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(ii) Rs.24,23,736.77 Ps. under the Home Plus loan account with future rate of interest @9.15% p.a with monthly rests from 30.05.2026 till the date of realization,

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(iii) Rs.27,44,952.86 Ps. under the MSME - CC Advantage loan account with future rate of interest @11.85% p.a with monthly rests from 30.05.2026 till the date of realization.

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and in default for sale of Hypothecated Movables and Mortgaged Property as mentioned in the Schedule of Property A and B to OA.

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As per the averments in the application, the Applicant^{Bank states} that Defendant no. 1 is a Proprietorship firm^{representedby its} Proprietor Defendant No. 2 availed Home loan facility^of Rs.90,00,000/- repayable in 340 equated monthly installments^of Rs.48,6401 with interest and executed^{Term Loan Agreement} for Home Loan dated 21 .10.2022 in favor of the^{Applicant Bank.} The Defendants created Equitable Mortgage and^hypothecated movables morefully mentioned in Schedule of^{propertyA and} B to OA and executed Letter confirming the^{Deposit of Title} Deeds daled 27.10.2022 in favor of the Applicant^{Bank. The} Defendants av-aile-d. lome loan^plus account and Open^cash credit,--facilities acid14'.gom the Applicant Bank.^{After availing} the lEan facility tre oJtqlilants failed to^{comply the terms of} il U l :.l tuZn . :\ ,', ;i .:.t // 'i'.- i. ;- ..r!0...'.,..,.., \l'::.' -''ii"'";iP';!' '\ - = -.1' 1^-;1.=/ - , __ ,i;.-'.

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(oA. No. 386/2026)

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sanction, hence the applicant bank classified the account as NPA on 03.12.2025 and issued Demand Notice dated 25.10.2025 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 02.09.2026.

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Sri. Pranav Kant Tiwari, Branch Manager of the Applicant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.29.

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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 Applicant Bank was examined and he exhibited relevant documents as Ex.A. 1 to A.29. ln view of the above, I hold that the Applicant Bank has established their, claim made .... in the OA against the Defendants and hence tha:Applicani .Banf is entitled to recover the claim . .:..'. \ i made in.the€A witlrftrture ini and costs.

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*! 0 I SiP 20?$ i"j

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(oA. No. 385/2026)

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

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The Defendants No. 1 and 2 are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.1,17,0g,g36.05. ps (Rupees One Crores Seventeen Lakhs Eight Thousand Eight Hundred and Thirty Six and paise Five Only) i.e a sum of _

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(i) Rs.65,40,146.42 Ps. under the Home loan account with future rate of interest @8.40%^{p.a from} 30.05.2026 tiil the date of realization,

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(ii) Rs.24,23,736.77 Ps. under the Home plus loan account with future rate of interest @9.15% p.a from 30.05.2026 till the date of realization,

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(iii) Rs.27,44,952.86 Ps. under the MSME - CC Advantage loan account with future rate of interest @11.g1o/o p.a from 30.05.2026 till the date of realization.

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proceed against the Property as mentioned to the OA towards

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sf:

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(oA. No. 386/2026)

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The Applicant Bank is entitled^{to proceed againstthe personand} properties of Defendant No. 2 and^{properties of Defendant no.1} firm towards realization of^{the debtdue.}

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That Applicant Bank^{is entitledto the costs of the OA.}

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The Applicant shall file a cost^{memowithin two weeks from the} date of receiPt of order.

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lssue Recovery^{Certificate accordingly.}

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Communicate^{a copyof the order to the parties concerned'}

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(Drctated to the P A. transcribed^{by her. corrected. signed and pronounced by mein the open courton} this the 07'h day^{of SeP} ,²⁰²⁶⁾

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sd/-

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(G. GOPICHAND)

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PRESIDING OFFIGER

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BBSEPmm

Indian Bank v. Santosh Kumar

Case brief

What is this about?

What did the court decide?

Indian Bank v. Santosh Kumar

Case brief

What is this about?

What did the court decide?

What the court decided

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