Allowed

Icici Bank Limited v. Mrs.Malavath Prameela

DRT27 Feb 2024OA/528/2023

Case brief

AI extract

What is this about?

The Tribunal allowed the Debt Recovery Tribunal application filed by ICICI Bank Ltd. against defendants, holding them jointly and severally liable to pay the due amount with future interest and costs, and allowing recovery against hypothecated vehicle. Defendants were present ex-parte.

What did the court decide?

Defendants directed to pay sum of Rs.22,43,227/- with future interest @ 12.50% p.a. and costs; rights to realize dues against hypothecated vehicle and properties confirmed.

Icici Bank Limited versus Mrs.Malavath Prameela — Contract and Commercial Disputes | DRT (2024)

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IN THE DEBTS RECOVERY^{TRIBUNAL-iI AT HYDERABAD}

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DATED THIS THE 27th DAY OF^{FEBRUARY,2024}

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PRESENT: SH. RAIVIESHWAR KOTHE,^{B.COM., L,LB.(HONS.),14.A.} PRESIDING OFFICER

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Original Application No: 528^{OF 2023}

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

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. ...Applicant.

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Versus

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1, Mrs. Malavath Prameela, Wo.^{Valu, Age:50 Years,}

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Occ: Self Employee,

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H.No. 3-95/1 Rajabolaram, Thanda 14edchal, Near Water Tank, Rajabollaram, Hyderabad-501401, Tela ngana.

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Mr. lvlalavath Yadila, S/o. Malavath Devja, Age: 58 Years, Occ: Self Employee, H.No. 3-95l1, Rajabollaram, Thanda Medchal, Near Water Tank, Rajabollaram, Hyderabad-501401, Telangana.

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Mr. Malothu Sama,

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S/o. Malothu Devja,

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Age: 49 Years, Occ: Self Employee, H.No.3-67l3, Rajabollaram, Thanda Medchal, Near waterTank, Rajabollaram, Hyderabad-501401, Telangana.

...Defendants

oA.NO.s28l2023

Counsel for the Applicant

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Defendants

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Mr. G.Adrian Kiran Raj

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Exparte

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:: qLLEB::

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The Applicant Bank flled the present OA for the recovery a total sum of Rs.22,43,227/- frcm the defendants joinuy and severally with future interest @ 24o/o p.a. with monthly rests from the date of application till the date of realization along with costs and in default for sale of OA hypothecated vehicle.

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Summons served on Dl to 3. They were set exparte on 09.11.2023 as called absent and no representation.

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The Applicant Bank examined N.Chandrasekar, Regional Relationship Manager, as AW-1 and marked 15 documents through him as Ex. A.1to Ex. A.15.

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

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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 hypothecated vehicle?

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A.1 to A.15 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 &vy1 -- r, .>1.r'',

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oA.NO.528/2023

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

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In the result, the^present Original Application No.528/2023^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.22,43,2271- "rith future interest @ L2.SOo/o p.a. simple from the date of application till the date of realization;

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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;

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

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iv) the applicant bank is entitled for the costs.

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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 Certifl cate accordingly.

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Communicate a copy of this order to the parties concerned. (Didated to th€ steno, signed and pronounced by me in the open court on this the 27d Day ofFebruary 2024).

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/7Y{"'Y (MMESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. Mrs.Malavath Prameela

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Mrs.Malavath Prameela

Case brief

What is this about?

What did the court decide?

What the court decided

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