Allowed

Idbi Bank v. v K M Fruits

DRT19 Feb 2026OA/394/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's application to recover a principal sum of approximately Rs. 23.27 lakhs along with applicable interest against defaulted loan facilities, citing established precedent regarding interest capitalization limits.

What did the court decide?

Respondents were directed to pay Rs. 23,27,704/- with interest at 10.45% and 10.75% p.a. from filing till realization.

What the court decided

AI extract

Idbi Bank versus v K M Fruits — Banking and Recovery | DRT (2026)

¶40

S. No	Date	Description	Exhibits
1	27.08.2018	Original Sanction letter issued by applicant bank duly accepted by defendants	Ex.No.A-01
2	27.08.2018	Original Demand Promissory Note for a sum of Rs.20,00,000/- executed by defendant No.1 in favour of applicant Bank	Ex.No.A-02
3	27.08.2018	Original Demand Promissory Note delivery Letter executed by defendant No.1 in favour of applicant Bank	Ex.No.A-03
4	27.08.2018	Original Facility Agreement executed by Defendant No.1 in favour of applicant bank	Ex.No.A-04

¶43

5 6	27.08.2018 27.08.2018	Original Guarantee Agreement executed by Defendant Nos.2 and 3 in favour of applicant bank Original Undertaking to be furnished by the Personal Guarantor executed by Defendant N2 d 3 i f f li bk	Ex.No.A-05 Ex.No.A-06
		os. an n avour o appcant an Part-II (Mortgage Documents)
7	26.09.1973	Xerox copy of Sale deed (Doc.No.3176/1973)	Ex.No.A-07
8	28.05.1979	SRO Copy of Sale deed (Doc.No.1782/1979)	Ex.No.A-08
9	27.02.1997	Xerox copy of General Power of Deed (Doc.No.81/1997)	Ex.No.A-09
10	27.06.2001	Original Sale Deed (Doc.No.3200/2001)	Ex.No.A-10
11	18.09.2022	True copy of Certificate	Ex.No.A-11
12	06.01.2003	Original Sale Deed (Doc.No.57/2003)	Ex.No.A-12
13	20.04.2009	Original General Power of Deed (Doc.No.661/2009)	Ex.No.A-13
14	20.09.2017	Original Mortgage Deed (Doc. No.7294/2017)	Ex.No.A-14
15	13.10.2017	Original Discharge Receipt (Doc. No.8040/2017)	Ex.No.A-15
16	19.07.2018	Original Sale Deed (Doc. No.8289/2018)	Ex.No.A-16
17	22.08.2017	Original Sale Deed (Doc. No.6053/2017)	Ex.No.A-17
18	24.08.2017	Original EC No.11589/2017 from 01.01.2017 to 23.08.2017	Ex.No.A-18
19	20.10.2017	Original EC No.14651/2017 from 01.01.2017 to 19.10.2017	Ex.No.A-19
20	19.07.2018	Original EC No.14231/2018 from 01.01.1987 to 11.07.2018	Ex.No.A-20
21	23.07.2018	Original EC No.14990/2018 from 01.01.2018 to 22.07.2018	Ex.No.A-21
		Original Memorandum of Deposit of Title
22	28.08.2018	Deeds executed by Defendant No.2 in favour of applicant bank (Doc No.9879/2018)	Ex.No.A-22

¶47

23	02.04.2020 (Funded I	Original Acknowledgement of Debt and Confirmation of Security jointly executed by the defendants in favour of applicant bank PART-IV nterest Term Loan [FITL] – II Loan – Rs.99,1 X f Cil f COVID19	Ex.No.A-23 33/-)
24	17.04.2020	erox copy o rcuar o Regulatory Package – Asset Classification and Provisioning	Ex.No.A-24
25	23.05.2020	Xerox copy of Circular of COVID19 Regulatory Package – (i) Rescheduling of payments – Term Loans and Working Capital Facilities	Ex.No.A-25
		PART-V
26	04.10.2021	Office copy of Demand Notice 13(2) issued by applicant bank	Ex.No.A-26
27	12.10.2021	Original Postal Receipts	Ex.No.A-27
28	29.01.2022	Office copy of Possession Notice 13(4) issued by applicant bank	Ex.No.A-28
29	09.02.2022	Original Acknowledgement card received from Defendant Nos.2 and 3	Ex.No.A-29
30	03.02.2022	Original Paper Publication of Possession Notice in “Dinamani”	Ex.No.A-30
31	03.02.2022	Original Paper Publication of Possession Notice in “The New Indian Express”	Ex.No.A-31
32	-	Original Photo Affixture of Possession Notice	Ex.No.A-32
33	-	Extract copy of Statement of Account in respect of I Loan	Ex.No.A-33
34	-	Extract copy of Memorandum of Interest in respect of I Loan	Ex.No.A-34
35	-	Extract copy of Statement of Account in respect of II Loan	Ex.No.A-35
36	-	Extract copy of Memorandum of Interest in respect of II Loan	Ex.No.A-36

Idbi Bank v. v K M Fruits

Case brief

What is this about?

What did the court decide?

What the court decided

Issues for consideration

Cases cited

Parties & counsel

Coram

Case details

Similar cases

Canara Bank versus P Murugan

Maria Ruby Silviya S versus South Indian Bank

S P Dhamodharan versus Canara Bank

Punjab National Bank versus K Arichandran

Punjab National Bank versus R Sumathy

Idbi Bank v. v K M Fruits

Case brief

What is this about?

What did the court decide?

What the court decided

Issues for consideration

Cases cited

Parties & counsel

Coram

Case details

Similar cases

Canara Bank versus P Murugan

Maria Ruby Silviya S versus South Indian Bank

S P Dhamodharan versus Canara Bank

Punjab National Bank versus K Arichandran

Punjab National Bank versus R Sumathy

A compact analysis

Statutes considered

Nanda Kumar v versus Reliance Commercial Finance Ltd.