Debts Recovery Tribunal allowed the unopposed application by ICICI Bank Ltd. for recovery of a NPDescription of hypothecated vehicles. Defendants were proceeded ex-parte for non-appearance.
Defendants to pay Rs. 25,39,395.93 with interest at 9% p.a.; issue Recovery Certificate; bank entitled to sell hypothecated vehicle.
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.
Presented on: 16.07.2023 Registered on: 26.02.2024 Decided on: 28.10.2025 Duration: Y M D 01 08 02
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD
(Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No.116/2024
ICICI Bank Ltd.
TOTAL CLAIM AMOUNT – Rs. 25,39,395.93
A Registered Company, Having its Registered Office at ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara, Gujarat-390007 And having one of its Branch Office at ICICI Bank Ltd, Maharashtra State Highway 67, … Applicant Galib Nagar, Osmanabad-413501 Through:
it’s Power of Attorney Holder Shri. Shantanu
(OA No.116-2024)
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[Ambadas]
S/o Shailesh Naik, Age: 47 Years, Occ: Service, R/o: C/o. ICICI Bank Ltd, Cherikar Prestine, Plot No. 4, Opp. LIC Office, Bhagya Nagar, Adalat Road, Aurangabad-431001.
Versus 1. Mohsin Shaukat Khureshi, … Defendant's Age: 33 Years, Occ. : Agri/Business, R/o. Moha, Tal. Kalamb, District Osmanabad-413507.
Mobile:-9921525213 PAN:-HXDPK2138A.
District Osmanabad-413507.
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[Ambadas]
Mobile:-9921525213
PAN:-NA.
Age: 32 Years, Occ. : Self Employed,
R/o. Moha, Tal. Kalamb, District Osmanabad-413507.
Mobile:-8888469099
PAN:-CMBPK5548J.
APPEARANCES For the Applicant Mr. Umesh N. Shete - Advocate For Defendants Ex-parte
J U D G M E N T Delivered on (28.10.2025)
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Three Paisa Only) together with interest @10.00% p.a. on Credit Loan facility from 18.04.2023 till the full realization of the entire dues and costs from the Defendants.
Brief facts of the application are as under:
The agreed rate of Fixed interest for the Credit loan facility was @10.00% p.a. with monthly rests.
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bank namely sanction letter, demand promissory note, request
letter, hypothecation agreement, letter of undertaking etc.
Attorney dated 30.07.2019 of the following
property/hypothecation in favour of the applicant bank:
Description of Hypothecated Assets:-
Eicher Pro 5019 is registered in Rajnandgaon ARTO,
Chhattisgarh with the Registering Authority With
Registration bearing No. CG-08-AN-2809 an Endorsement
of Hypothecated in favour of the Applicant Bank.
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failed to pay the agreed rate of interest as per terms and conditions of the sanction letter. Thereafter the applicant bank repeatedly made demand of loan amount and called upon the Defendants to pay with the agreed rate of interest thereon, but the Defendants failed and neglected to pay the same. The loan account of the Defendants became irregular and classified as NPA 30.01.2021. Therefore, the applicant Bank issued legal notice to the Defendants through their Advocate on 01.04.2023. Despite service of Notice, the Defendants failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.
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documents Exh.5 which corroborates the case of the applicant Bank. The applicant bank has also filed original loan documents as Exh. AW-1/2 to AW-1/8 along-with affidavit Exh.09 of Shantanu Shailesh Naik.
Hence, I pass the following order.
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[Ambadas]
ORDER
Eicher Pro 5019 is registered in Rajnandgaon ARTO, Chhattisgarh with the Registering Authority With
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Registration bearing No. CG-08-AN-2809 an
Endorsement of Hypothecated in favour of the
Applicant Bank.
(D) The applicant Bank is entitled to sell the hypothecated
Vehicles/ articles/goods etc., to recover its dues.
(E) Issue Recovery Certificate accordingly.
(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and Defendants.
(G) File be consigned to the record room.
Sd/-
(Dr. J. R. Chauhan) Place : Aurangabad Presiding Officer Date : 28.10.2025 Debts Recovery Tribunal, Aurangabad
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1 issue framed by the court
Whether the unsecured loan documents and the application for recovery under the Recovery Tribunals Act are sustainable ex-parte.
ICICI Bank Ltd.
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
