Allowed

Indian Bank v. Indeevar Industries

DRT11 Feb 2026OA/838/2025

Case brief

AI extract

What is this about?

The Tribunal allowed the Original Application for recovery by the Applicant Bank from the Defendants. Noting the Defendants were absent and evidence established liability, the Bank was ordered to recover the principal sum along with future interest and costs, secured by mortgage and personal properties.

What did the court decide?

The Defendants were directed to pay Rs.75,97,621/- with future interest @12.30% p.a., recoveries from mortgaged properties and personal assets were permitted, and a Recovery Certificate was issued. Co

Indian Bank versus Indeevar Industries — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 11rH DAY OF FEBRUARY, 2026

¶2

PRESENT: SH. RAMESHWAR KOTHE, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

¶3

ORIGINAL APPLICATION No: 838 OF 2025

¶4

IndianBank., Avilala Branch,Bairagipatteda Avilala,Tirupati-517501. Rep.byits AuthorizedSignatory. .....Applicant.
Versus
1.M/s. Indeevar Industries., RepbyitsProp:I\4rs.K.Radha PlotNo.84/BBankColony Pudipatla,Tirupathi-517501.
2.lYrs.K.E.Radha, W/o.Mr,K.E,Koushik lvlajor,PropofI\4/s.Indeevar Industries D.No.79^-72-227,Bairagipatteda Tirupathi UrbanMandal,Chittoor District,AP.
3.Mr.K.E.Koushik,S/o.Mr. K.E.Sridharan Aged 52 Years,R/o. No.19-12-227,Bairagipatteda TirupathiUrban Mandal,Chittoor Distrlct,AP.
4.Mr.P.Anand Venkatesh S/o.Mr.K.V.Pardhasaradhi Late Mrs.P.Vaidehi, lvlajor,R/o.Flat No.104 SriEnclaveApartment,STVNagar,Opp: APSDCLOffice,OldTirchanoorRoad TirupathiUrban Mandal,TirupathiDistrict AndhraPradesh-517501 ...Defendants
CounselfortheApplicant :Mr.R.V.SubbaRao
Defendants :Ex-oadefr(,,*

¶5

oA.NO.838/2025

¶6

:: ORDER ::

¶7

The Applicant Bank filed the^{present OA for the recovery a total} sum of Rs.75,97,6211- from the defendants^{jointly and} severally wlth future interest @15.30o/o^{p.a. with quarterly rests} from the date of application till the^{date of realization alonq} with costs and in default^{for saleof OA schedule properties.}

¶8

WS not filed by D1 to 4 hence, their^{right of filing WS is hereby} forfeited and were set ex-parte on^{70.02.2026as called absent} and no representation.

¶9

The Applicant Bank examined^{Shaik Meera Saheb,Chief} Manager, as AW-1 and marked^{13 documentsthrough himas} Ex. A.1 to Ex. A.13.

¶10

Heard the Ld. Counsel for the Applicant^{Bank. Perused the} material^placed on record.

¶11

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

¶12

Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA schedule propefties?

¶13

As stated supra, the Defendants remained^{ex-parte. The} Evidence Affidavit coupled with the^{recitalsin the documents} viz., Exs. A.1 to A.13 marked on behalf of^{the ApplicantBank} clinches the claim of^{the Applicant Bankagainst the Defendants.} Hence, I hold that the Defendants^{are jointly and severally liable} to^pay the OA claim to the Appljfglt^{Bank wlth futureinterest} and costs. llfYa,l&

¶14

oA.NO.838/2025

¶15

In the result, the present Original Application No.838/2025 is allowed as under: -

¶16

i) The Defendants 1 & 2 are jointly and severally liable to pay to the Applicant Bank a sum of Rs.75,97,62Ll_ with future interest @12.30olo p.a. simple from the date of application till the date of realization;

¶17

ii) the OA claim is secured by way of mortgage of properties described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debU

¶18

iii) the applicant bank is also entifled to proceed against the person and properties of defendants for realization of its dues;

¶19

iv) the applicant bank is entitled for the costs.

¶20

B. The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

¶21

Issue Recovery Certificate accordingly.

¶22

Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 11th Day of February, 2026).

¶23

) ,l hut-- ,,^.,' l. '- it/'1r:>';'"

¶24

¶25

(RAMESHWAR KOTHE) PRESIDING OFFICER

Indian Bank v. Indeevar Industries

Case brief

What is this about?

What did the court decide?

Indian Bank v. Indeevar Industries

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Indian Bank versus M/s. Forrit Projects Private Limited.

Indian Bank versus M/s. Mahalakshmi Marketing.

Hdfc Bank Ltd. versus Mr. Pennugonda Ravi Chandra

Bank of India versus M/s. Parvathi Wlccs Ltd.

Icici Bank Limited versus Pasupuleti Nagarjuna

Union Bank of India versus M/s. Star Gym Fitness