DRT Delhi allowed the bank's application for recovery of dues from an industrial unit. The Tribunal awarded principal interest at 12% per annum, lower than the contract rate, citing global economic circumstances.
Recovery of Rs.17,79,946.99 with interest at 12% p.a. and costs within 30 days.
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.
T.A. No. 2721 of 2022
Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
T.A. No. 2721 of 2022
ICICI Bank Ltd. 2nd Floor, Videocon Tower, El Block, Jhandewalan Extn. New Delhi-110055
Applicant
Versus
Shree Laxmi Industries (India) Through its proprietor Sh.Sandeep Datta s/o Satish Kumar Datta C-242, Patel Chowk, SGM Nagar, NIT Faridabad Haryana-121001
Also at: Shree Laxmi Industries (India) Through its proprietor Sh.Sandeep Datta s/o Satish Kumar Datta NH-117/5, NIT Faridabad Haryana-121001 Defendant
Present: Shri B.K.Jha, Counsel for the applicant bank
Date of Institution: 15.06.2019 Date of Pronouncement: 27.06.2024
FINAL ORDER
This original application has been filed by the applicant bank on 15.06.2019 before DRT-III Delhi & then transferred to DRT-I Delhi through Shri Ranjeet Jha, authorized representative of the applicant bank under Section 19 of
T.A. No. 2721 of 2022
Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendant for recovery of a sum of Rs.17,79,946.99 (Rupees Seventeen Lacs Seventy Nine Thousand Nine Hundred Forty Six and paisa Ninety Nine Only) as on 31.03.2019 together with pendentelite and future interest @ 24% per annum from 01.04.2019 till its realization with costs.
T.A. No. 2721 of 2022
T.A. No. 2721 of 2022
ORDER
(I) I, allow this OA and direct the defendant to pay to the applicant bank within 30 days, a sum of Rs.17,79,946.99 (Rupees Seventeen Lacs Seventy Nine Thousand Nine Hundred Forty Six and paisa Ninety Nine Only) as on 31.03.2019 together with pendentelite and future interest @12.00% per annum along with costs from the date of filing of this O.A. till the date of realization. In case of default, the aforesaid amount shall be recovered from the sale of moveable and immovable properties of the defendant.
(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.
T.A. No. 2721 of 2022
(III) Parties are directed to appear before Recovery Officer, DRT I, Delhi on 26.08.2024.
(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.
5c1--
(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI
(Dictated and pronounced in open court) Dated: 27.06.2024
1 issue framed by the court
Whether the Original Application for recovery of dues filed by the bank deserves to be allowed.
Colour shows how this judgement treated each authority
Central Bank of India Vs. Ravindra & OthersReferred¶25
Central Bank of India Vs. Ravindra & Others
1 provisions across 1 enactments
ICICI Bank Ltd.
Shree Laxmi Industries (India)
Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
