Allowed

Icici Bank Limited v. M Mohiyaddeen

DRT18 Jul 2023OA/909/2022

Case brief

AI extract

What is this about?

In an original application for debt recovery, the DRT-II at Hyderabad allowed the claim of ICICI Bank Limited against two defendants, holding them jointly and severally liable to pay Rs. 20,80,277/ with interest and costs, and directed issuance of a Recovery Certificate.

What did the court decide?

Defendants directed to pay Rs. 20,80,277/- with interest at 13% p.a. and costs; Recovery Certificate issued to Applicant Bank.

Icici Bank Limited versus M Mohiyaddeen — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE 18rH DAY OF JULY, 2023

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PRESENT: RAMESHWHAR KOTHE, B.Com.,LL.B.(Hons.), M.A. PRESIDING OFFICER

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Original Application No: 909 of 2022

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Between:

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ICICI Bank Limited ICICI Bank Tower, Plot No.12, Nanakramguda, Serilingampally Mandal Ranga Reddy District Represented by its Power of Attorney.

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......Applicant.

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And

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Sri.M.Mohiyaddeen

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S/o.Mohammad Hussain, Aged 50 years, Occ: Business,

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R/o. H. No. 1 1- 403/ A, R. K.Street, Old Pet, Palamaneru,

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Chittoor, Andhra^pradesh-51 7409.

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Smt.M.Fathima D/o. Noorunnam Shaik, Aged about 41 years, Occ: Business,

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R/o.H.No. 1 1- 403/ A, R.K.Street, Old Pet,^palamaneru,

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Chittoor, Andhra^{pradesh-51740g.}

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....... Defendants.

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Counsel for the Applicant : M/s.R.Rajendra prasad Defendants : Exparte ,?w"/

oa.9o9/2022

:: O R D E R ::

The Applicant Bank filed the above OA for the recovery of a sum of Rs.20,80,217 /- under Loan Account Nos: 1VCTT00036916815 & 1VCTT00036916804 as on 03.08.2022 jointly and severally from the Defendants wlth future interest @ 24o/o p.a with monthly rests from the date of application till^the date of realizatlon with costs, and in default,^{for sale of OA} schedule asset.

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Summons served on D1 and^{2 returnedwith endorsement} Refused hence, deemed to^{be served.They were set exparteon} 19.01.2023 as called^{absentand no representation.}

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The Applicant Bank^{examlned I4r.Sathish Manappuram,zonal} Debt Manager, as^{AW.1 and marked9 documentsthroughhim} as Ex.A.1 to Ex.A.g.

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Heard the learned Counsel^{for the Applicant Bank and perused} the material^{placed on record}

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The^point that^{arise for consideratlon is:}

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Whether the A\Plicant^Bank is entitled to the claim^{made in} OA against the defendants^{and the} OA schedule asset?

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remained ex-Parte.^The

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1. As stated suPra, the^defendants with the recitals in^the

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Evidence Affidavit of^{AWl couPled} documents viz.,^{Exs A.1 to A 9} marked on behalf of^the fr"*

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oA.9O9/2022

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Applicant Bank, clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jolntly and severally liable to pay to the Applicant Bank the claim made in OA with future interest and costs.

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In the result, the present Original Application No.909/2022 is allowed as under: -

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i) the Defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.20,80,277/- under Loan Account Nos: 1VCTT00036916815 & 1VCTI00036916804 with further interest @ 13olo p.a simple from the date of application till realization;

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

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iii) the Applicant Bank is also entifled to proceed against the person and properties of the Defendants towards realization of its dues; and

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iv) the Applicant Bank is entitled to the costs of the OA, including the Advocate fee.

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8, The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this order. /w,*

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oA.9O9/2022-

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9. Issue Recovery Certificate accordingly.

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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 18th day of July, 2023).

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/w"P

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(RAMESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. M Mohiyaddeen

Case brief

What is this about?

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Icici Bank Limited v. M Mohiyaddeen

Case brief

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