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Icici Bank Limited versus Mrs. Madduri Nagarani — Banking and Recovery | DRT (2023)

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DRT
2023
Icici Bank Limited versus Mrs. Madduri NagaraniIcici Bank Limited v. Mrs. Madduri Nagarani

Allowed

Icici Bank Limited v. Mrs. Madduri Nagarani

DRT11 Dec 2023OA/772/2022

What the court decided

AI extract

Outcome

Allowed

Issue for consideration

Whether the Applicant Bank is entitled to the claim made in the Original Application against the Defendants?

A

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 11th DAY OF DECEMBER, 2023

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

Original Application No: 172 OF 2022

ICICI Bank Limited, Gachibowli, ICICI Towers, Serilingampally Mandal, Ranga Reddy District, Rep. by its Authorized Signatory & Power of Attorney Holder.

.....Applicant.

Versus

lYrs. Madduri Nagara ni, W/o. Madduri Kistaia h, Aged: 28 Years, Occ:^{professional,} R/o. H. No. 1-53, Thoguta Mandalam, Banjarpally, Near Water Ta nk, Kondapak, Medak-Telangana -502372.

Madduri Yellavva, S/o. Madduri, Aged: 51 Years, Occ: Business, R/o. H. No. 13, Gujja Narayanapur Mandal, Gujja Narayanapur X Roads, Nalgonda District, Tela nga na - 508 2 53.

3, Madduri Kistaiah, S/o. Ivladdurt Laxmaiah, Aged:61 Years, Occ: Business, R/o. H. No. 13, Gujja Narayanapur Mandal, Gujja Narayanapur X Roads, Nalgonda District, Tela nga na - 508253.

...Defendants

Issues for consideration

1 issue framed by the court

AI extract

1.
Whether the Applicant Bank is entitled to the claim made in the Original Application against the Defendants?

Parties & counsel

AI extract

applicant
ICICI Bank Limited
respondent
1. lYrs. Madduri Nagara ni
respondent
2. Madduri Yellavva
respondent
3. Madduri Kistaiah

Coram

AI extract

Case details

As recorded by the court registry

Court: DRT
Decided on: 11 Dec 2023 · December
Case no.: OA/772/2022
CNR: 280120012402022

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Cite this judgement

Icici Bank Limited v. Mrs. Madduri Nagarani, OA/772/2022 (DRT), decided on 11 December 2023.

The Debt Recovery Tribunals publishes no neutral citation for this judgement — cite it by case number and date of decision.

Bench / Coram

Rameshwar Kotha

Parties & counsel

A compact analysis

This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.

Counsel for the Applica nt

Defendants

Mr. G. Adrian Kiran Raj expa*e fi..te

oA.NO.772l2022

z

:: O-]LLLB^::

The Applicant^{Bank Rled the present OA for the recovery a total} sum of Rs.32,1g34Al-^{frcri, the defendantsjointlyand} severally^{with futureinterest@24olo p awith monthlyrests} from the date^{of applicationtill the date of realizationalong} with costs.

Summons^{served on D1, summons servedon D2 and 3 through} paper publication.^{They were set ex-parte on 05 06'2023as} called absent^{and no representation'}

The Applicant^{Bank examinedN Chandrasekhar' Regional} Relationship^{Manager,as AW-1 and marked 17 documents} through^{him, as Ex. A.1 to Ex' A'17'}

Ld. Counsel^{for the APplicantBank reported ordersmay be} passed on merits.^{Perused the materialplaced on record'}

The^point that^{arises for considerationis:-} Whether the^{Appticant Bank is entitled} for the claim^{made in the OA against} the Defendants?

As stated supra,^{the Defendants remalned ex-parte'The} Evidence Affidavit^{coupledwith the recitals in the documents} viz., Exs. A.1 to^{A.17 markedon behalf of the Applicant Bank} clinches the^{claim of the Applicant Bank against the Defendants'} Hence, I hold that^{the Defendants are jointlyand severally liable} fu.*,o

oa.No,772 /2022

to pay the OA claim to the Applicant Bank with future interest and costs.

In the result, the present originat Apptication No.772/2022 is allowed as under: -

i) The Defendants are joinuy and severally liable to pay to the Applicant Bank a sum of Rs.32,79,348/- with future interest @ 9.25olo p.a. simple from the date of apptication till the date of realizatjon;

ii) the OA claim is secured by way of hypothecation of vehicle described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

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

iv) the applicant bank is entitled for the costs_

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

Issue Recovery Certificate accordingly.

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 1lrh Day of December 2023).

//ft,',"'n l^{nnhfesHwnnxorney} PRESIDING OFFICER

Rameshwar Kotha

Topic

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