The DRT, Bengaluru allowed the creditor's original application filed under Section 19 RDB Act. Against exparte defendants, the tribunal confirmed the debt and ordered recovery of the principal sum of Rs. 88.14 lakhs along with future interest.
Recovery of Rs.88,14,654.64 plus interest at 24% p.a. with liberty to sell schedule property and personal assets for recovery.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA AT BENGALURU
Dated this 23rd Day of February, 2024
Present: SMT. S. V. GOWRAMMA
Hon`ble Presiding Officer
OA. No.833/2022
BETWEEN:
ICICI Bank Limited Having its Registered office at Landmark, Race course Circle, Vadodara – 390007 And its corporate office at ICICI Towers Bandra-Kurla Complex, Mumbai – 400051
Its branch office at Mytree Centre, No.4/10, Hosur Road, Bommanahalli, Bangalore-560068 Rep. by its officer and POA holder Mr. Premjith R
...Applicant
And:
Counsel on record/appeared for: Applicant : M/s. Anvaya Law Defendants : Exparte
2 OA. 833/2022
:FINAL ORDER:
The Original Application (OA) is filed on 18.11.2021 by Applicant Bank under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993, against the defendant to recover a sum of Rs.88,14,654.64/(Rupees Eighty Eight Lakhs Fourteen Thousand Six Hundred Fifty Four and Sixty Four Paisa Only) with further interest thereon from the date of filing the Application till realization from the defendants.
BRIEF FACTS OF THE CASE :
3 OA. 833/2022
neglected to repay the dues and committed default. Hence, the account as classified as NPA. The Applicant Bank has issued a Recall Notice dated 21.11.2017. However, the Defendants failed to repay the loan amount due. Therefore, the applicant bank has filed the present Original Application (OA) to recover the amount due from the Defendants.
Heard the submissions of Applicant Bank and perused the records.
4 OA. 833/2022
available on record to repudiate the claim of the Applicant Bank.
: O R D E R:
9. The OA is allowed with costs,
a) The applicant bank is allowed to recover from Defendants a sum of Rs.88,14,654.64/- (Rupees Eighty Eight Lakhs Fourteen Thousand Six hundred Fifty four and Sixty four paisa only) as on 10.06.2021 together with current and future interest at 24.00% p.a. from the date of this application to till the date of realization;
(b) In the event of failure of the defendants to pay the aforesaid amount, the bank is at liberty to recover the amount by sale of the schedule mentioned property in the OA;
(c) Schedule mentioned property in the OA shall be appended to this final order;
(d) If the sale proceeds of the schedule mentioned mortgaged/hypothecated properties are not sufficient to satisfy the dues as ordered above, the applicant bank is at liberty to sell the personal assets of the defendants (both movable and immovable) to recover the balance dues as required under law;
5 OA. 833/2022
(e) The applicant bank shall file the latest memo of calculation of
OA amount together with interest, costs etc., to be paid by the defendants duly considering the amounts, if any, paid by the defendants and/or amount realized by sale of assets etc., during the intervening
period after the filing of the OA, enabling the Registry to prepare Recovery Certificate for the amount to be paid by defendants to the applicant bank.
(f) The applicant bank shall file memo of costs within ten days from the date of this final order.
(g) Recovery Certificate shall be drawn up and issued to the
Recovery Officer in terms of the final order.
(h) Interim Application pending, if any, stands disposed of with this Final Order.
[Dictated to the (PR), transcribed by her, corrected and signed by me on this the 23rd Day of February, of 2024]
Sd/-
(S.V. GOWRAMMA) PRESIDING OFFICER DRT-II, BENGALURU
ANNEXURES
WITNESSES EXAMINED FOR THE APPLICANT BANK:
AW-1: Mr. Pramodh G, Manager of the applicant bank
6
Exhibits on the part of the Applicant:
| Annexure | Particulars |
|---|---|
| A1 | Applicant Evidence |
| A2 | List of Documents |
| A3 | Power of attorney |
| A4 | Loan application dated 28.07.2015 |
| A5 | Sanction letter dated 31.07.2016 |
| A6 | Facility agreement dated 31.07.2015 |
| A7 | Copy of the sale deed dated 16.04.2008 |
| A8 | Copy of the disbursal request form |
| A9 | Copy of the loan Recall notice dated 21.11.2017 |
| A10 & A11 | Copy of the foreclosure letter dated 10.06.2021 issued to the defendant No.1 and 2 and statement of account |
Witness Examined for the Defendants:
-Nil -
List of Documents Exhibited for the Defendants: -Nil -
:SCHEDULE A PROPERTY:
All that piece and parcel of the property bearing Corporation Old No.11 & 12, New No.19, situated at Police station Road, Basavangudi, Bengaluru measuring East to West 53 feet and North to South 127.6 fet (at the Eastern End) and 129.6 feet (at the Western end) and totally measuring 6816 Square feet and bounded as follows:
East by : House No.18 West by : House No.20
OA. 833/2022
7
North by : Police Station Road
South by : Conservancy Lane
SCHEDULE B PROPERTY
15.21% of undivided share, right, title and interest in the land area covered by the Schedule A property mentioned above equivalent to 1036.71 Sq.ft.
SCHEDULE C PROPERTY
All that three room residential unit bearing G-2, in Ground Floor, measuring Built up area of 2,250 Sq.ft., inclusive of proportionate share in the common areas such as passages, lobbies, lifts, staircases and other areas of common use, including the floors, ceiling and walls between apartments jointly belonging to such other unit owners equally in “KANAKA ENCLAVE” being constructed on the schedule A property and Two covered car parks in the suit floor slot No.G-2 (A) and G-2
Sd/-
(S.V. GOWRAMMA) PRESIDING OFFICER DRT-II, BENGALURU
2 issues framed by the court
Whether the original application filed by the bank under Section 19 is barred by limitation.
Whether the bank has established a prima facie case for recovery of dues against the defendants.
2 provisions across 2 enactments
ICICI Bank Limited
S. V. Gowramma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
