Allowed

Idfc First Bank Ltd. Now v. Imagix Pyrolysis Plant

DRT17 Apr 2026OA/992/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an ex-parte application filed by IDFC FIRST BANK LIMITED for recovery of debt against Imagix Pyrolysis Plant represented by the defendant. The bank's claim of Rs. 25,72,08L.L7 plus future interest and costs was approved based on examined evidence.

What did the court decide?

Defendant directed to pay Rs. 25,72,08L.L7 plus future interest at 16.50% p.a. simple and costs; bank directed to file cost memo.

Idfc First Bank Ltd. Now versus Imagix Pyrolysis Plant — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 17th DAY OF APRIL, 2026 PRESENT: SH. RAMESHWAR KOTHE, B.COM. L.LB. (HONS.), M.A. PRESIDING OFFICER

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ORIGINAL APPLICATION No: 992 OF 2025

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IDFC FIRST BANK LIMITED^*NOW' EARLIER M/s CAPITAL FIRST LIMITED Door No. 6-3-354,2nd floor, S B TOWERS, Near Nagarjuna circle, Banjara hills Road No.i, Hyderabad - 500034 Rep. by its Authorized Representative

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.....Applicant

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Versus

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IMAGIX PYROLYSIS PLANT REP BY MUWAI.A MANI RAMAKRISHNA SHESHU s/o l,t SURESH BABU AGED ABOUT 38 YEARS, oCC: BUSINESS R/o: INDUSTRIAL PARK, PLOT NO 209 B, PASHAMYIARAM, SANAGAREDDY, MEDAK, TS- 502307

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AND ALSO H NO 14 81 62 4, PL-269/8, RAGHAVENDRA COLONY, MARUTHI NAGAR ROAD, OPP CHRIST MARANATH CHURCH, BEERAMGUDA, 502302

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... Defendant

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Counsel for the Applicant Counsel for the Defendant

: M/s. V. Santosh

: Ex-parte OYoot,

oA.NO.992/2025

:: ORDER^.:

The Applicant^{Bank filed the present oA for the recovery a total} sum of Rs.^{25,72,08L.L7 ps with futureinterest@24o/op'a'} from the date^{of filling the application till the date of realization} along with^costs.

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SummonservedonSoleDefendantthroughpaperpublication andwasSetexpafteon24,a2.2a26ascalledabsentandno representation.

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The Applicant^{Bank examined Mr. Akash Ghosh, Legal Manager'} asAW.landmarkedl0documentsthroughhimasEx.A.lto Ex.A.10.

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Heard ex-parte^{arguments from the Ld' Counsel of the} Applicant^{Bank.Perused the materialplaced on record'}

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The^point that^{arises for considerationis: -}

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Whether the^{ApplicantBank is entitled} for the ctaim made^{in the OA against} the Defendant?

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As stated supra,^{the Defendant remained ex-pafte. The} Evidence Affidavit^{coupled with the recitals in the documents} viz., Exs.A.1 to A.10^{markedon behalf of the Applicant Bank} clinches the claim^{of the ApplicantBank against the Defendant.} Hence, I hold that^{the Defendantis liable to pay the OA claim to} the Applicant Bank^{with future interestand costs.}

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In the result, the^present Q4[ginal^{Application No.99212025is} allowed as under: - UW"u

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oA.NO.9921202s

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i) The Sole Defendant is jointly and severally liable to pay to the Applicant Bank a sum Rs. 25,72,08L,L7 ps with future interest @16.50o/o p.a. simple from the date of application till the date of realization;

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ii) the applicant bank is also entitled to proceed against the person and properties of defendant for realization of its dues;

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iii) 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 thisthe LTth Dayof April,2A26l.

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//q5.L>b

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/t (RA+,I€SHWAR KOTHE) PRESIDING OFFICER

Idfc First Bank Ltd. Now v. Imagix Pyrolysis Plant

Case brief

What is this about?

What did the court decide?

Idfc First Bank Ltd. Now v. Imagix Pyrolysis Plant

Case brief

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What did the court decide?

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