Allowed

Idbi Bank Ltd. v. Sri. Varigati Satya Prakash

DRT24 Mar 2026OA/485/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an Original Application filed by IDBI Bank against three defendants for recovery of a housing loan debt. The defendants were absent and dealt with ex-parte. The court held the bank established its claim and directed recovery of dues with interest and costs.

What did the court decide?

Defendants directed to pay Rs. 1,57,05,776.00 with interest; recovery certificate issued; bank entitled to proceed against mortgaged properties and personal properties.

Idbi Bank Ltd. versus Sri. Varigati Satya Prakash — Contract and Commercial Disputes | DRT (2026)

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IN THE DEBTS RECOVERYTRIBUNAL-I AT HYDERABAD DATED THIS THE 24TH DAY OF MARCH, 2026

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PRESENT: SRI GUMMADI GoPICHAND, PRESIDING oFFICER

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OA.No.485 of 2025

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Between:

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IDBI Bank Ltd, Regional office at Chapel Road, Hyderabad, Telangana Represented by its Dy. Gen Manager

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Applicant

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VERSUS

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Sri Varigati Satya^prakash, s/o V. Satyanarayana, aged 25 years, occ: employee, male, R/o H.No.821-2, ground floor, MFT colony north, Lalaguda, Hyderabad - 500 017.

¶9

Smt Varigati Ganga Bhavani, w/o V. Satyanarayana, aged 47 years, occ: housewife, Male, H.No.27 -64 / 2/ I / A, ground floor, lehovah Nissi Nilayam, Beside Muzimel Guitar^place, Near Krupa Complex, Neredmet X roads, Hyderabad - 500 056.

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Sri Varigati Dilip Kumar, S/o V, Satyanarayana Aged 23 years, occ: employee, Male, R/o H.No.821-2, ground Floor, MFT colony_ Lalaguda, H Defendants

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Counsel for the Parties: *

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For the Applicant 2 { ilrfl 2l[6: K.P. Saradhi Defendants ,s;,

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(oA.48s/202s)

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Reservedon	t7.03.2026
Pronounced on	24.03.2026
Uploadedin websiteon	24.03.2026

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ORDER

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1' The Appricant Bank fired the present oA against Defendants for recovery of a total sum of Rs.1,57,O5,776l_ (Rupees One Crore Fifty Seven Lakhs five thousand Seven Hundred amd Seventy Six paise only) with subsequent interest @ 8.40% p.a with monthly rests from 11.06.2025 tiI the date of rearization and in defaurt for sare of mortgaged properties as mentioned in the schedure to oA.

¶17

2' As per the averments in the apprication, the Appricant Bank states that defendant no.1 & 2 availed housing loan of Rs.72,80,000/_ and agreed to repay the loan in 300 monthly installments @ Rs.66,411/_ p.m. Defendant no.1 executed power of attorney in favour of defendant no.3 to execute ail necessary documents, The defendants created equitabre mortgage of schedure properties and deposited the tiHe deeds in favour of Appricant bank. After avairing the roan facirities, the defendants failed to comply the terms of sanction, hence the applicant

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bank unt as NPA on 08.06.2025 and issued recall Inspite of several requests and demands, the outstanding. Hence this OA.

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(oA.48s/202s)

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Defendants called absent and set exparte on 28.01.2026.

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sri Vishal R. Mutarikdesai, Assistant Generar Manager of the Appricant Bank examined himself as AW.1 and exhibited relevant documents, which are marked as Ex.A.1 to A.11.

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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 she exhibited relevant documents as Ex.A1 to A.11. In view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendants and hence the Applicant Bank is entitled to recover the claim made in the oA with future interest and costs.

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B. In the result, the present OA is allowed with costs, as under: The Defendants are jointly and severally liable to pay to the Applicant Bank a total sum of Rs.1,57,05,7761- (Rupees One Crore Fifty Seven Lakhs Hundred amd Seventy Six paise only) @ 8.40olo^p.a from LL.06.2025 till the date

"Zu[offrh^mm

,iiru

(oA.48s/202s)

The Applicant Bank is entitred to proceed against the mortgaged properties as mentioned in the schedule to OA towards realisation of the debt due.

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10' The Applicant Bank is atso entitled to proceed against the person and properties of defendants towards realization of the debt due.

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The Applicant Bank is entifled to the costs of the oA.

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L2. The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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Issue Recovery certificate accordingly.

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L4. communicate a copy of the order to the parties concerned.

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(Dictated to the P'A-, transcribed by her, corrected, signed and pronounced by me in the open court on this the 24th day of March, 2026)

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sd/_ (G. GOPTCHAND) PRESIDING OFFICER

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2 | trtAH 20ffi

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-!1*""'to,
DF-'

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Idbi Bank Ltd. v. Sri. Varigati Satya Prakash

Case brief

What is this about?

What did the court decide?

Idbi Bank Ltd. v. Sri. Varigati Satya Prakash

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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