Allowed

Indian Bank v. M/s. Damera Kiran

DRT26 Feb 2026OA/961/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the original application filed by Indian Bank against Kiran Damera for the recovery of a loan of Rs. 42,73,725.36 plus future interest, holding the defendants jointly and severally liable after an ex parte hearing due to their non-appearance with written defense.

What did the court decide?

Defendants ordered to pay Rs. 42,73,725.36 with interest @ 9.95% p.a.; recovery certificate issued; bank entitled to proceed against mortgaged assets and defendants' properties.

Indian Bank versus M/s. Damera Kiran — Contract and Commercial Disputes | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 26th DAY OF FEBRUARY, 2026

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

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ORIGINAL APPLICATION No: 961 OF 2022

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Indian Bank, Gachibowli Branch, Plot No.12-16, Indira Nagar, Cyber Apartments, Gachibowli PO, Ranga Reddy District, Hyderabad 500 032 Rep. by its Power of Attorney Holder

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....Applicant.

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Versus

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N4/s. Damera Kiran

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S/o Mr. Damera l4ahesh Raj,

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Prop: Mr. Kiran Damera

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S/o Mr. Damera Mahesh Raj, Flat No.105, Gurukrupa Nilayam, H. No.8-5245/101/104,

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Madhava Nagar, Ka rmanghat, Saroor Nagar, Hyderabad 500 079

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Mr. Kiran Damera

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S/o Mr. Damera Mahesh Raj,

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Prop: M/s. Damera Kiran, Major,

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R/o Flat No.105, Gurukrupa Nilayam,

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H. No.8-5245/ 101/104, Madhava Nagar, Karmanghat, Saroor Nagar, Hyderabad 500 079.^{...Defendants}

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: Mr. R. V. Subba Rao Counsel for the Applicant

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Counsel for the Defendants :^Ex-parte

frr*y6'u

:: 9-LLE-L ::

oA.NO.95r /2022

The Applicant Bank filed the present OA for the recovery a total sum of Rs. 42,73,725.36 ps with future interest @ 11.95^o/o p.a. with monthly rests from the date of application till the date of realisation and, in default, sale of OA hypothecated asset.

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Though the Defendants appeared through Mr. M.N. Upendra Nath, learned counsel, they failed to file written statement despite ample opportunities, whereupon they were set ex parte on 16.72.2025.

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3, The Applicant Bank examined Mr. Deepak Srinivas, Branch Manager, as AW-1 and marked 33 documents through him as Ex.A.1 to Ex.A.33.

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Heard the ex-parte argument from the Ld. Counsel of the applicant. Perused the material placed on record.

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The point that arises for consideration ls: -

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated asset?

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.33 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Originat Application No.961/2022 is //fu\r-.^^ a owed as under: - U/^.''gtr\1"

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oA.NO.961 /2022

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i) The Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs. 42,73,725.36 ps with future interest @ 9.95o/o 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 asset as described in the schedule annexed to the OA and the applicant is entitled to proceed against the same to realise its debts under respective accounts;

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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 to the parties concerned.

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(Dictated to the steno, corrected, signed and pronounced by me in the open court on this the 26th Day of February, 2025)

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lM*' (RAMESHWAR KOTHE) PRESIDING OFFICER

Indian Bank v. M/s. Damera Kiran

Case brief

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Indian Bank v. M/s. Damera Kiran

Case brief

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