Allowed

Icici Bank Limited v. Sri Pandeti Siva Kumar

DRT19 Jun 2025OA/114/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by ICICI Bank against the Defendant for recovery of a loan of Rs. 24,62,796 with future interest and costs, holding the Defendant liable based on evidence despite the Defendant appearing absent.

What did the court decide?

Order to pay Rs. 24,62,796 with future interest at 10.50% p.a. from application date till realization, along with costs.

Icici Bank Limited versus Sri Pandeti Siva Kumar — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 19th DAY OF JUNE, 2025

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

¶3

Original Application No: 114 OF 2025

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ICICI Bank Limited., Having its Regional Offlce at ICICI Bank Tower, Plot No.12, Nanakra mguda, Serilingampa lly, Ranga Reddy - 500032, Telangana. ....Applicant Rep. by its Power of Attorney

¶5

Versus

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Sri. Pandeti Siva Kumar, S/o. Pandetl Sidd iraju, Aged 41 Years, Occ: Business, R/o. 1/1 16A, Nethajinagar, Near Na rayana School, Behind Bank of Baroda, Railway Koduru, Cuddapah, Cuddapah - 516101.

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...... Defendant

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Counsel for the Applicant :^{Mr.R.RajendraPrasad} Defendants : Ex-Parte

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:: qLLLL ::

¶10

The Applicant Bank filed the^present OA^{for the recovery of a sum of} 07.72.2024 towards^Loan

¶11

Rs.24,62,796/- as on A/c. No. LPCDP000 45A70278^from the^{defendantwith future interest} @24ok^{p.a. with monthlyrestsfrom the dateof applicationtill the} date of realisation along^{with costs.}

¶12

Summon served on sole defendant^{and was set ex-parte on} -?-.

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17.04.2025 as called absenl. and^no representation.^!*'t " ^.

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OA.No.114/2025

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The APplicant^{BankexaminedN Chandrasekar'Regional} Relationship^{Manager as AW-1and marked 07 documents through} him as^{Ex. A.1to Ex. A.7'}

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Ld. Counsel^{for the Appticant Bank stated ordersmay be passed on} merits.^{Perusedthe materialplacedon record'}

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The^{point that arises for considerationis:-}

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whether the^{Appticant Bank is entitled for} the claim^{made in the OA against the} Defendant?

¶20

As stated^{supra, the Defendant remained ex-parte'The Evidence} Affidavit^{coupled withthe recitals in the documents viz} '^{Exs A'1 to} A.7 marked^{on behalf of the Applicant Bank clinches the claim of the} Applicant^{Bank against the Defendant'Hence' Ihold that the} DefendantisliabletopaytheoAclaimtotheApplicantBankWith future interest^{and costs'}

¶21

In the^{result, the present Orlginal Apptication No 11412025is} allowed^{as under:-}

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i) The^{Defendantis liable to pay to the Applicant Bank a} sum of^{Rs.24,62,7961-as on 07 '72 2024 towards Loan} A/c.No.LPCDPOOO^{45870278with future interest @} 10'500/o^{p.a. simple, from the date of application till the} date of^realization;

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bank is^{also entitled to proceed against}

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ii) the^aPPlicant and^{propertie;iof the defendantfor}

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the Person realization^of itsdues; ,X'"t*

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OA.No.U4l2025

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iii) the applicant bank is entifled 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 Certiflcate accordingly.

¶30

Communicate a copy of this order to the parties concerned. (Dictated to the steno., transcribed by him, corrected, signed and pronounced by me in the open court on this the 19th day of June, 2025) .

¶31

PRESIDING OFFICER

Icici Bank Limited v. Sri Pandeti Siva Kumar

Case brief

What is this about?

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Icici Bank Limited v. Sri Pandeti Siva Kumar

Case brief

What is this about?

What did the court decide?

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