Allowed

Icici Bank Limited v. Jaffar Hussian

DRT8 Dec 2023OA/677/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the debtor's original application filed by ICICI Bank. Holding that defendants were jointly and severally liable based on evidence affidavit and marked documents, the court ordered payment of dues with interest and authorized recovery via hypothecated assets and properties.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 22,07,355/- with interest; claim secured by hypothecated assets; authority to proceed against person and properties for realization; costs awarded.

Icici Bank Limited versus Jaffar Hussian — Contract and Commercial Disputes | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD DATED THIS THE 8th DAY OF DECEMBER, 2023

¶2

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

¶3

ORIGINAL APPLICATION No. 677 OF 2023

¶4

lvl/s. ICICI Bank Lim ited Reg ional omce at Gachibowli Hyderabad Rep by its Power of Attorney Holder

¶5

....Applica nt.

¶6

Versus

¶7

S Jafar Hussain,
S/o. Khaseem Shaik,
Aged about 35 years,
Occ: Business, Gender: Male,
R/o. H.No.13/850,
Kalavagadda Veedhi,
Jandha Katta, Tadipatri, Anantapur,
Andhra Pradesh-51541 1.
2. Naguladinne Shabbir Basha,
S/o. Naguladinne Mahaboob Sab,
Aged about:48 years.
Occ: Business, Gender: Male,
R/o. H.No.15/1308,
Sanjeev Nagar 1st Road.
Govt College, Tadipatri, Anantapur,
Andhra Pradesh-515411. ....Defendants.

¶8

Counsel for the Applicant : Mr. B. Ravindra Reddy
Defendants
: exoarrel/st1}

oa.67712023

ORDER

The Applicant Bank filed the^present OA for the recovery of a total sum ol Rs.22,07,3551-^jointly and severally from the defendants with interest @ 13olo^p.a. compounded at monthly rests from 16.05.2023 till the date of realisation along with costs and sale of OA schedule assets.

¶13

Summons were served on D1 and 2. They were set ex-parte on 09.10.2023 as they were called absent and no representation.

¶14

The Applicant Bank examined Mr. N. Chandrasekar, Regional Relationship Manaqer as AW-1 and marked 11 documents through him as Ex. A.1 to Ex. A.11.

¶15

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

¶16

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 Defendants and OA schedule hypothecated vehicle?

¶18

As stated supra, defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A1 to A.11 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the OA claim to the Applicant Bank withrture interest and costs. 1/'-'a-l:t>

¶19

0.A.67712023

¶20

¶21

In the result, the present Original Application No.677/2023 is allowed as under: -

¶22

i) the defendants are^jointly and severally liable to pay to the Applicant Bank a sum of Rs. R9.ZZ,O7,355l- with future interest @1290 p.a. simple from the date of appllcation till the date of realization;

¶23

ii) the OA claim is secured by way of hypothecation of assets described in the schedule annexed to the OA and the applicant bank is entitled to^proceed against the same for recovery of its dues;

¶24

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

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iv) the applicant bank is entitled for the costs.

¶26

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

¶27

Issue Recovery Certificate accordingly.

¶28

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 8rh day of December, 2023).

¶29

SHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. Jaffar Hussian

Case brief

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Icici Bank Limited v. Jaffar Hussian

Case brief

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