Allowed

Icici Bank Limited v. Mr. Syed Khaja Samiuddin

DRT9 Nov 2023OA/513/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's original application to recover a debt of Rs. 23,56,023 plus interest from the defendant, holding the defendant liable based on the unchallenged bank documents and hypothecation of vehicles.

What did the court decide?

Recovery of Rs. 23,56,023 plus future interest; right to proceed against hypothecated vehicles; general right to realize dues from person and property; issue of recovery certificate.

Icici Bank Limited versus Mr. Syed Khaja Samiuddin — Banking and Recovery | DRT (2023)

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IN THE DEBTS^{RECOVERYTRIBUNAL-II AT HYDERABAD} DATED THIS THE^{9th DAYOF NOVEMBER,2023}

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PRESENT:^{SH. MMESHWARKOTHE, B.COM.,L.LB.(HONS.), M.A.} PRESIDING OFFICER

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Original Application^{No: 513 OF 2023}

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ICICI Bank^Limited, Gachibowli, ICICI^Towers, SerllingamaPallY^Mandal, Ranga Reddy^Dist' Rep. by its Authorized^Signatoryand poiei'of ettorney xotaer-.

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""^Applicant'

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Versus

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Mr. SYed Khaja^Samiuddin S/o. SYed Khaja^Burhanuddin, Aged: 53 Years,^{Occ: Business,} H. No. 11-23-640,^{Near Chaithanya} School Lane, Warangal-506002.

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Also at:

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Mr. Syed Khaja Samiuddin, S/o. Syed Khaja Burhanuddin, C/o. SM Enter Prises, Aged: 53 Years, Occ: Business, H. No. t7-23-237o/2/7, Beside Lakshmi Bar, Warangal-506002. Telangana State.

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Also at:

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Mr. Syed Khaja Samiuddin S/o. Syed Khaja Burhanuddin, Aged: 53 Years, Occ: Buslness, 11-23-840, LB Nagar, Decent Function Hall, Beside Chaithanya School, C%o

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oA.NO.513/2023

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Warngal-506002. Telangana State. Counsel for the Applicant Defendants

M.V. KINI Exparte

. . . Defendant

:: oRDER::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.23,56,023/_ as on 23.03.2023 from the defendant with future interest @ 24o/o p.a. with monthly rests from 24.03.2023 till the date of realization along with costs and in default for sale of hypothecated vehicles.

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Summons served on sole defendant returned with endorsement refused hence, deemed to be served, he was set exparte on 29.08.2023 as called absent and no representation.

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The Applicant Bank examined N Chandrasekar, Regional Relationship Manager, as AW_l and marked 23 documents through him as Ex. A.1 to Ex. A.23.

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Ld. Counsel for the Applicant Bank reported orders may be passed on merits. perused the material placed on record.

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The point that arises for consideration is: _

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendant and OA hypothecated vehicles?

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As stated supra, the Defendant remained ex_parte. The Evidence Affidavit coupled with the recitals in the documents (.*

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oA.NO.513/2023

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viz., Exs. A.1 to A.23 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendant. Hence, I hold that the Defendant is liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.S13/2023 is allowed as under: -

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i) The Defendant is liable to pay to the Applicant Bank a sum of Rs.23,56,023/- with future interest @ 9olo 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 vehicles described in the schedule annexed to the OA and the applicant bank is entiued to proceed against the same to realise its debt;

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

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iv) the applicant bank is entitled for the costs.

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The Applicant Bank is directed to flle Cost Memo within 2 $reeks from the date of receipt of this Order.

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q Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictatedio the steno, corrected, stgned and pronounced by me in the open court on this the 96 Day of November,2023).

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/AY'*

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lnfrr(snwan xorne; PRESIDING OFFICER

Icici Bank Limited v. Mr. Syed Khaja Samiuddin

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Mr. Syed Khaja Samiuddin

Case brief

What is this about?

What did the court decide?

What the court decided

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