Allowed

Icici Bank Limited v. Cherumeedi Raghuveera Varma

DRT16 Apr 2024OA/425/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the original application filed by ICICI Bank Limited for recovery of a sum of Rs.23,68,831.68 plus interest and costs from the two respondents, who remained ex-parte throughout the proceedings.

What did the court decide?

Defendants jointly and severally liable to pay Rs.23,68,831.68 with future interest at 11.70% p.a. from 11.04.2022; direction to proceed against person and properties; award of costs and issuance of R

Icici Bank Limited versus Cherumeedi Raghuveera Varma — Banking and Recovery | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRiBUNAL-II AT HYDERABAD DATED THIS THE 16th DAY OF APRIL, 2024

¶2

PRESENT: SH. RAMESHWAR KoTHE, B.com, L.L.B. (Hons.), M.A. PRESIDING OFFICER

¶3

ORIGINAL APPLICATION No. 425 OF 2022

¶4

ICICI Ba nk Limited Khairatabad, Hyderabad Rep by its Authorized Signatory and Power of Attorney

¶5

...........Applicant.

¶6

Versus

¶7

Cherumeedi Raghuveera Varma
S/o. Rajamuri, aged :64 yrs,
Occ: Ag ricu ltu ra l, # H. No.3/ 19,
Devarakadra Village and Mandal,
Mahabubnangar Dt.
2. Cheruvumeedi Amrutha
W/o. Cherumeedi Raghuveera Varma
Aged:58 Yrs, #H. No.3/ 19,
Devarakadra Village and MandaL,
Mahabubnagar Dt. Defenda nts.

¶8

Cou nsel For the Applicant
Defendants

¶9

:Mr. B. Praveen Kumar

¶10

:Ex-parte.

¶11

ORDER

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The Applicant Bank filed the present OA u/s.19 of the Recovery of Debts and Bankruptcy Act, 1993 for the recovery of a sum of Rs.23,68,831.68ps joinfly and severally from the defendants together with interest @24o/o p.a. with monthly rests from 09.03.2021 till the date of realisation along with costs.

K'"

oA.NO.42sl2022

Summons^{served on Dl & 2' They were set ex-parteon} 2t.0g.2022,^{as called absentand no representation'}

¶17

TheApplicantBankexaminedN.Chandrashekar,Regional Relationship^{Manager as AW-1 and marked Idocuments} through^{him as Ex' A'1 to Ex'A'B'}

¶18

Learned^{counselfor the applicant bank reported orders maybe} passed on merits.^{Perusedthe material placed on record'}

¶19

The^{point that arises for consideration is:-}

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Whether^{the Appticant Bank is entitled} for the^{claim made in the OA against} the Defendants?

¶21

AsstatedSUpra,defendantsremainedex-parte.TheEvidence Affidavitcoupledwiththerecitalsinthedocumentsviz.,Exs.Al to A.B^{marked on behalf of the Applicant Bank clinches the} claimoftheApplicantBankagainsttheDefendants'Hence'I hold that^{the Defendants are jointly and severally liable to pay} theoAclaimtotheApplicantBankwithfutureinterestand costs.

¶22

Intheresult,thepresentoriginatApplicationNo.42512022is allowed^{as under: -}

¶23

i)thedefendantsarejointlyandseverallyliabte to PaY to^{the APPlicantBank a sum of} Rs.23,68,831'68ps^{with future interest} @11.7olo^{p'a' simple from the date of} application^{i'e''11'04'2022 till the date of} realization; ffi**

¶24

oA.NO.425l2022

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

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iii) the applicant bank is entiUed for the costs.

¶27

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

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Issue Recovery Certificate accordingly.

¶29

Communicate a copy of this order to the parties concerned. (oictated to the steno, signed and pronounced uv rulnii" op", court on this the 16rh dayorAprir,2o24).

¶30

//kf";;\ (aII(MESHWAR KorHE) PRESIDING OFFICER

Icici Bank Limited v. Cherumeedi Raghuveera Varma

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Cherumeedi Raghuveera Varma

Case brief

What is this about?

What did the court decide?

What the court decided

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