IDBI Bank Ltd., Udupi Branch, Rep through its Authorised Principal Officer, Sri Nagaraj Kumbar vs M/s Shree Gajanana Enterprises, rep by its Proprietor Vishwanatha — 150/2024

Case under Code of Civil Procedure Section U/s.26. Disposed: Uncontested--DECREED IN PART on 06th March 2026.

Case disposed

Com.O.S. - COM. ORIGINAL SUIT

CNR: KAUP010025392024

Filing Number

150/2024

Filing Date

18-Dec-2024

Registration No

150/2024

Registration Date

19-Dec-2024

Court

PRL. DISTRICT AND SESSIONS COURT, UDUPI

Judge

1440-II Addl District and Sessions Judge Udupi

Decision Date

06-Mar-2026

Nature of Disposal

Uncontested--DECREED IN PART

Last updated 12-Mar-2026

Acts & Sections

Code of Civil Procedure Section U/s.26
Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 201 Section Sec.16

Petitioner(s)

  1. 1.IDBI Bank Ltd., Udupi Branch, Rep through its Authorised Principal Officer, Sri Nagaraj Kumbar

    Adv. MURALIDHARA VARAMBALLY

Respondent(s)

  1. 1.M/s Shree Gajanana Enterprises, rep by its Proprietor Vishwanatha

  2. 2.Vishwanatha

Case History

  1. Case disposedDisposed

  2. 06-Mar-2026

    Judgment

    Summary The II Additional District & Commercial Court at Udupi partially decreed IDBI Bank's suit for recovery of ₹6,51,654 against defendants who defaulted on a ₹5 lakh loan availed under the Pradhan Mantri Mudra Yojana. The court found the defendants liable to repay the principal amount with interest at 9.9% per annum (the contractual rate) instead of the bank's claimed 12.4%, applying the Proviso to Section 34 CPC which limits future interest to the contractual rate in commercial transactions. The defendants were directed to pay within three months from the decree date. This case analysis is maintained by casestatus.in based on publicly available court records.

  3. 06-Mar-2026

    Disposed

    II Addl District and Sessions Judge Udupi

  4. 20-Feb-2026

    Judgement

    II Addl District and Sessions Judge Udupi

  5. 04-Feb-2026

    Deposition

  6. 04-Feb-2026

    Arguments

    II Addl District and Sessions Judge Udupi

  7. 14-Jan-2026

    Evidence CIVIL

    II Addl District and Sessions Judge Udupi

  8. 22-Nov-2025

    Appearance Of Party

    II Addl District and Sessions Judge Udupi

  9. 07-Nov-2025

    Summons

    II Addl District and Sessions Judge Udupi

  10. 16-Oct-2025

    Summons

    II Addl District and Sessions Judge Udupi

  11. 12-Sep-2025

    Summons

    II Addl District and Sessions Judge Udupi

  12. 21-Aug-2025

    Summons

    II Addl District and Sessions Judge Udupi

  13. 30-Jul-2025

    Summons

    II Addl District and Sessions Judge Udupi

  14. 03-Jul-2025

    Summons

    II Addl District and Sessions Judge Udupi

  15. 12-Jun-2025

    Summons

    II Addl District and Sessions Judge Udupi

  16. 17-Apr-2025

    Summons

    II Addl District and Sessions Judge Udupi

  17. 12-Mar-2025

    Summons

    II Addl District and Sessions Judge Udupi

  18. 14-Feb-2025

    Summons

    II Addl District and Sessions Judge Udupi

  19. 20-Dec-2024

    First hearing

    Initial hearing scheduled

  20. 18-Dec-2024

    Case filed

    Registration No. 150/2024

casestatus.in Summary

Summary The II Additional District & Commercial Court at Udupi partially decreed IDBI Bank's suit for recovery of ₹6,51,654 against defendants who defaulted on a ₹5 lakh loan availed under the Pradhan Mantri Mudra Yojana. The court found the defendants liable to repay the principal amount with interest at 9.9% per annum (the contractual rate) instead of the bank's claimed 12.4%, applying the Proviso to Section 34 CPC which limits future interest to the contractual rate in commercial transactions. The defendants were directed to pay within three months from the decree date. This case analysis is maintained by casestatus.in based on publicly available court records.

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