Allowed

Icici Bank Limited v. Mrs.Kruthagnatha Konkati

DRT29 Jan 2024OA/851/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application for recovery of a loan sum against three respondents. Being ex-parte, the tribunal found the evidence sufficient, ordered payment of dues, interest, and costs, and directed seizure of hypothecated assets.

What did the court decide?

Respondents ordered to pay Rs. 30,20,851 with interest; applicant entitled to proceed against hypothecated and other properties for realization of dues.

Icici Bank Limited versus Mrs.Kruthagnatha Konkati — Banking and Recovery | DRT (2024)

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IN THE DEBTS^{RECOVERY TRIBUNAL-II AT HYDERABAD} DATED THIS THE^{29th DAY OF JANURARY,2024}

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PRESENT: SH.^{RAMESHWAR KOTHE,B.Com, L.L.B.(Hons'),M.A'}

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PRESIDING^OFFICER

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ORIGINAL APPLICATION^{NO. 851 OF 2O22}

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ICICI Bank Limited ICICI BANK^TOWCT, Plot no.12, Nanakramguda, SerilingampallY,^{Ranga ReddY} Telangana-500032 Rep by its Power of^AttorneY Sri Satish Kumar^M

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Applicant.

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Versus

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Mrs. Kruthagnatha^Konkati Propretor of Kruthagnatha^Konkati W/o, Akari SathYam,^{Aged 40} Years H.No.3-3^-226 Savaram^Street, Near Auto Stand Karimnagar-505001.

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Sri. Akari SathYam S/o. Rajam Akari, Aged about 41 Years,^{Occ:Business,} H. No.2-22, BotlavanaParthY, Karimnagar,^{Telangana State} Pin:505186

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Sri. Era Kiran S/o. NaraYana^Erra Age : Major, Occ:^Business, R/o. 1-40, village^GoPalPur, Karimnagarr, Telangana 505001

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Defendants.

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counsel for the Applicant^{: Mr. R. Rajendra Prasad} Defendants : Exparte N<S

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oA.a57/2022

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ORDER

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The Applicant Bank filed the present OA for the recovery of a sum of Rs.30,20,951/_ from the defendants with interest @24olo p.a. with monthly rests from the date of Application till the date of realisation along with costs and sale of OA schedule hypothecated asset.

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Summons served on D1 through paper publication, whereas

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summons served on D2 and 3. They were set ex_parte on 27.06.2023, as called absent and no representation.

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The Apptica nt Bank examined N. Chandrashekar, Regional

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Relationship Manager as AW-l and marked 13 documents

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through him as Ex. A.1 to Ex.A.13.

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Learned Counsel for the applicant bank reported orders may be

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passed on merits. perused the material placed on record.

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5, The point that arises for consideration is:_

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Whether the Appticant Bank is entitted for the _claim made in the OA against the Defendants and OA hypothecated asset?

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As stated supra, defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. A1 to A.13 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I tAW_.<.-u-,, (, -1rt,

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oA.8stl2022

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hold that the Defendants are liable 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.B51/2022 allowed as under: -

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i) the defendants are liable to pay to the Applicant Bank a sum of Rs. Rs.30,20,851/with future interest @9.25olo 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 asset described in the schedule annexed to the OA and the applicant bank is entitled to^proceed against the same for recovery of its dues;

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iii) 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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iv) the applicant bank is entitled for the costs.

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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.

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Communicate a copy of this order to the^{parties concerned.} (Dictated to the steno, signed and pronounced by me in the open court on this the^29th day of .la nua ry, 2024).

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fl$i"t-1 (RAMESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. Mrs.Kruthagnatha Konkati

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Mrs.Kruthagnatha Konkati

Case brief

What is this about?

What did the court decide?

What the court decided

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