Icici Bank Limited v. G Ramesh Babu
Case brief
What is this about?
Debts Recovery Tribunal allowed ICICI Bank's recovery application against two defendants for principal, interest, costs, and rights over hypothecated vehicles.
What did the court decide?
Defendants to pay Rs 1,85,96,966.03 with future interest and costs; applicant bank entitled to proceeds from hypothecated vehicles and defendant's properties.
What the court decided
IN THE DEBTSRECOVERYTRIBUNAL-II AT HYDERABAD
DATED THIS THEzoth DAY OF OCTOBER,2023
PRESENT: SH. MN4ESHWARKOTHE, B.com.,L.LB.(Hons'),M A'
PRESIDING OFFICER
Original ApplicationNo: 854 OF 2022
| ICICI ICICI Plot Serili Rang Rep. |
BankLimited, BankTowers, No. 12, Nanakramguda, ngampally, a ReddyDist.-500032. byitsPowerof Attorney. .....Applicant. |
|---|---|
| Vers | us |
| 1.Sri.G.RameshBabu, S/o.RadhaKrishnaiah, Aged:51 Years,Occ:Business, R/o.12-155-G9, SatyanaryanaPeta, Near KalimathaTemPle, Guntakal, AnanthaPur, Andhra Pradesh-515801. |
|
| 2.Sri. Sreenivasulu Guntur, S/o.Radha Krishnaiah, Aged:Major, Occ:Business, SatyanaraYanaPeta, Near KalimathaTemPle, Guntkal, AnanthaPur, AndhraPradesh-511801 ,..Defendants |
|
| Counselfor theAPPlicant :Mr.R.RajendraPrasad |
|
| Defendants tExeafteAlrry€ |
oA.NO.854/2022
;: ORDER::
- The Applicant Bank filed the present OA for the recovery a total sum of Rs.1,85,96,966.03ps as on 22.O7.2022 from the defendants with future interest @ 24o/o p.a. with monthly rests from the date of application till the date of realisation along with costs and in default for sale of OA hypothecated vehicles.
Issues for consideration
1 issue framed by the court
Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants and OA hypothecated vehicles?
Parties & counsel
- applicant
ICICI Bank Limited
- respondent
Sri G Ramesh Babu
- respondent
Sri Sreenivasulu Guntur
Coram
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court