Allowed

Icici Bank Limited v. Mrs.Allasandra Raquel Christopher

DRT19 Jun 2025OA/1083/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the applicant bank's original application for a recovery certificate against two defendants who failed to appear. The court validated the loan defaults and affirmed the claim for the principal amount plus interest, granting proceedings against the defendants jointly, severally, and personally.

What did the court decide?

Recovery certificate issued for Rs.72,04,254.22 with 11.80% simple interest, allowing personal proceedings against defendants jointly and severally.

Icici Bank Limited versus Mrs.Allasandra Raquel Christopher — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL II, BENGALURU

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Dated this 19^th Day of June, 2025

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Present: Sri. T. RAJESH Presiding Officer OA.No.1083/2023

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BETWEEN:

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ICICI Bank Limited, Branch office at: ICICI Bank LTD, 4/10, Mythree Tower, Bommanahalli, Hosur Main Road, Bengaluru …APPLICANT

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AND:

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Mrs. Allasandra Raquel Christopher, W/o Siddhart Sudhakar R/at: Flat No.RAB 311, Purva Riviera Apts, AECS Layout, Near Spice Garden, Marathalli, Bangalore-560037

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Mr. Siddharth Christopher, S/o Kalavar Sudhakar Shetty, R/at: Flat No.RAB 311, Purva Riviera Apts, AECS Layout, Near Spice Garden, Marathalli, Bangalore-560037

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...DEFENDANTS

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Counsel on record/appeared for:

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Applicant : Vidhii Partners Defendants : Exparte

OA 1083/2023

FINAL ORDER

The present Original Application in short (OA) has been filed under section 19 of Recovery of Debts and Bankruptcy Act 1993 seeking issuance of Recovery Certificate for Rs.72,04,254.22 (Rupees seventy two lakhs four thousand two hundred fifty four and paisa twenty two only) with further interest thereon from the date of filing the Application till realization from the Defendants.

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It is the case of the applicant that the defendants No.1 & 2 availed the following credit facilities from the applicant bank:-

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I. Housing Loan of a sum of Rs. 45,00,000/- (Rupees forty five Lakhs Only),

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II. Housing loan limit of Rs. 45,00,000/- (Rupees forty five lakhs Only).

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It is also the case of the applicant that, in view of the above amount financed, the defendant executed necessary loan documents along with facility agreements and agreement of sale in favor of the applicant bank.

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It is further contended that, the defendants despite availing the credit facility, agreeing to service the loan account promptly and regularly, failed in complying the same, resulting

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OA 1083/2023

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in defaults in repayment and consequentially turning the loan accounts as NPA.

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In the above circumstances, the applicant approached this Tribunal by filing this OA seeking issuance of Recovery Certificate for the amount due in the account.

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Despite, service of summons on the defendants, they failed to appear, resulting the defendant being set exparte on 16.10.2024.

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The applicant had let in evidence through AW-1, who filed Proof Affidavit reiterating the contentions taken in the OA and also produced Exhibits A-3 to A-26 and got the same marked in evidence.

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Heard the Ld. Counsel for the Applicant and considered the contentions as taken in the OA in the light of documentary evidence and the proof affidavit.

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The following issues arise for consideration in this matter:

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i) Whether the applicant had succeeded in proving the

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OA claim as against the defendant?

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ii) What order are to be passed?

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OA 1083/2023

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Both these issues are gone into and decided together.

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The case put forth by the applicant in the Application

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remains unrebutted as defendant remained exparte. The evidence tendered by the applicant remains uncontroverted and undisputed. The evidences put forth by the applicant were found admissible and are sufficient to prove availment of credit facilities as stated in the OA, creation of mortgage as claimed by the applicant bank and the defaults committed in the accounts. The liability of the defendants and the claim as the amount due is also proved by the above documents. The claim of the applicant is well within the limitation.

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Hence in view of the finding arrived herein above, this Tribunal find both these issues in favour of applicant and hence

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this Tribunal is of the view that OA is liable to be allowed.

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12. Taking into consideration the facts that the credit facilities

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are availed by defendants for purchase of house, and interest is claimed at a lower rate, this Tribunal in view of the OA can be allowed with a reduced interest as claimed need not be reduced.

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OA 1083/2023

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However as the OA Claim is arrived at by calculating interest at

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the agreed rate and also by applying default interest, the prayer for monthly rest and future penal interest are declined.

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13. In the result, OA.No.1083/2023 stands allowed,

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i) The applicant is allowed to recovery an aggregate

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sum of Rs.72,04,254.22(Rupees seventy two lakhs four thousand two hundred fifty four and paisa twenty two only) with further interest @ 11.80% p.a. (Simple),

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from the date of filing OA till the realization, from the defendants personally after giving credit to all the amount recovered and received during the pendency of the OA and allowed the same to be recovered by proceedings against the defendants, jointly severally and personally and also by proceeding against there assets including the schedule property. Properties schedule to the OA be the schedule to the recovery certificate.

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ii) The applicant bank is allowed cost of the proceedings

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which applicant to file cost memo within 7 days from the date of receipt of the order.

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iii) The Recovery Certificate to be drawn in terms of this

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OA 1083/2023

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order and transferred to Recovery for execution.

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iv) Interim application pending, if any, stands disposed of

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in terms of this final order.

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14. Communicate a copy of the order to the parties concerned

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in terms of Section 19(21) (i) of the RDB Act, read with Rule 16

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of DRT (Procedure) Rules, 1993.

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[Dictated to the Stenographer (JV), transcribed by her, corrected and signed and pronounced by me in the Open Court, this the 19^th day of June, 2025].

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Sd/ (T. RAJESH)

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PRESIDING OFFICER

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ANNEXURES

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WITNESSES EXAMINED FOR THE APPLICANT BANK:

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AW-1: Pramodh. G., Collection Manager, of Applicant Bank.

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Exhibits on the part of the Applicant:

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The exhibits are appended in this order.

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Witness Examined for the Defendant: -Nil - List of Documents Exhibited for the Defendant: -Nil -

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Sd/ (T. RAJESH) PRESIDING OFFICER

Icici Bank Limited v. Mrs.Allasandra Raquel Christopher

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Mrs.Allasandra Raquel Christopher

Case brief

What is this about?

What did the court decide?

What the court decided

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