Allowed

Icici Bank Limited v. Degala Chengamaih

DRT26 Mar 2024OA/810/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by ICICI Bank Limited for recovery of dues from two defendants. The defendants, who appeared ex-parte, were held jointly and severally liable to pay the claimed amount along with interest and costs.

What did the court decide?

Defendants directed to pay Rs.22,88,461.49 with future interest @12% p.a. from 04.10.2022, and bank entitled to issue recovery certificate.

Icici Bank Limited versus Degala Chengamaih — Contract and Commercial Disputes | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II^{AT HYDERABAD} DATED THIS THE 26th DAY OF IVIARCH,²⁰²⁴

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PRESENT: SH. RAMESHWAR^{KOTHE,B,COM, L.L.B.(HONS.), M.A.} PRESIDING OFFICER

¶3

ORIGINAL APPLICATION^{NO. 81O OF 2022}

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ICICI Bank Limited

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Kadapa, Hydera bad. Rep by its Authorised Signatory and Power of Attorney Holder. .Applica nt.

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Versus

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Degala Chengamiah S/o. Dega la Yerraiah Aged : Major, Occ:Farmer, H.No.3, Kothapalli, Gadela, Obulavari Palli, Kadapa Dist

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Degala Vijay Kumar, S/o. Degala Chengamiah, Aged : major, Occ: Farmer, H.No.3, Kothapalli/ Gadela, Obulavari Palli, Kadapa dist Defenda nts.

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Counsel for the Applicant : lvlr. B. Praveen Kumar Defendants : Exparte.

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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.22,88,461.49ps^jointly and severally from the defendants with future interest @24olo p.a. with monthly rests from 01.05.2022 till the date of realisation along with costs.

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Vakalat of D2 not filed. Summons of D1 already served. They were set ex-parte on 24.71.2023 as called absent and no representation. /Wr*

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The Applicant Bank examined N. Chandra Shekar, Regional Relationship Manager as AW-1 and marked 7 documents through him as Ex. A.1 to Ex.A.7.

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Learned 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 entiued for the claim made in the OA against the Defendants?

¶17

As stated supra, defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. 41 to A.7 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 to pay the OA claim to the Applicant Bank with future interest and costs.

¶18

In the result, the present Original Application No.810/2022 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.22,88,461.49ps with future interest @12%p.a. simple from the date of application i.e.,04.10.2022 till the date of realization;

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ii) the applicant bank is also entitled 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 entitled for the costs. 8W,,,

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oA.NO.810/2022

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B. The Applicant Bank^{is directed to file Cost Memo within2 weeks} from the date of^{receipt of this Order.}

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Issue Recovery Certificate^accordingly.

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Communicate a copy^{of this order to the parties concerned'} (Dictated to the steno, signed and^{pronouncedby me in the open courton this the25th} day of March, 2024). h6NesnwaR //ry''^KorHE) PRESIDING OFFICER

¶27

{r5

Icici Bank Limited v. Degala Chengamaih

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Degala Chengamaih

Case brief

What is this about?

What did the court decide?

What the court decided

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