Allowed

Icici Bank Limited v. Angothu Raveendar

DRT15 Jul 2025OA/118/2025

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed ICICI Bank’s OA for recovery of Rs. 21,36,030.10 with interest against two ex-parte defendants. The court held defendants jointly and severally liable and entitled to proceed against mortgaged properties.

What did the court decide?

Defendants held jointly and severally liable; Bank entitled to recover Rs. 21,36,030.10 plus future interest and costs; Recovery Certificate issued.

Icici Bank Limited versus Angothu Raveendar — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 15TH DAY OF JULY, 2025 PRESENT: SH. RAMESHWAR Ko pnesror^rHjirBr'cce'fl"^{L LB' (Hons} )'^M'A'

¶2

ORIGINAL APPLICATION No: 118 OF 2O2S

¶3

ICICI Bank Limited., Plot No.12, Nanakra mquda Gachibowti, ICICI Tow6rs ::rilingampa^{y Mandat, Ranga ReddyDistrict.} Kep. Dy its Authorized signatory.

¶4

.....Appticant.

¶5

Versus

¶6

Angothu Raveendar, S/o.Angothu Laxman, Age 41 years, Occ: Self Employed, H.No.45-3-128, puttatagadda Village, Timmapur, panchayath Damaracherla Mandal, Nalgonda District Telangana State - 509355.

¶7

Angothu Sali, W/o.Angothu Raveendar Age 41^years, Occ: Self Employed H. No.45-3- 128,^puttatagadda Village, Timmapur,^panchayath Damaracherla Mandal, Nalgonda District Telangana State - 508355.

¶8

... Defendants

¶9

Counsel for the Applicant

¶10

: M/s.G.Adrian Kiran Raj

Defendants

:Ex-parte

:: ORDER ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.21,36,030.10ps as on 08.01.2025 from the defendants jointly and severally with future interest @2470 p.a. with monthly rests from 08.01.2025 till the date of realization /A\$./-;-9 /// '/\a, U/

¶15

oA.NO.118/2025

¶16

along^{with costs and in default for sale of OA schedule} propertles.

¶17

Summons^{served on D1 and 2 Theywere set ex-parteon} 10.06.2025^{as called absent and no representation}

¶18

The Applicant^{Bank examlned K Raja Yaswanth'Legal Manager'} as AW-1^{and marked08 documents through him as Ex A l to} Ex. A.08.

¶19

Ld. counsel^{for the Applicant Bankreported orders may be} passed through^{merits. Perused the material placedon record'}

¶20

¶21

The^point that^{arises for consideration is:-}

¶22

Whether the^{Applicant Bank is entitled} for the ctaim^{madein the OA against} the Defendants^{and OA schedule} ProPerties?

¶23

As stated supra,^{the Defendants remalned ex-parte The} Evidence Affidavit^{coupledwith the recitalsin the documents} viz., Exs. A.1 to A.08^{marked on behalf of the Applicant Bank} clinches the claim of the^{Applicant Bank against the Defendants} Hence, I hold that the^{Defendants are jointlyand severally liable} to pay the OA claim to the^{Applicant Bank with futureinterest} and costs.

¶24

In the result, the^{present Original Application No.118/2025is} allowed as under:^-

¶25

i) The Defendants are^jointly and severally liable to pay to the Applicant Bank a sum of Ynn/.c, lrrr's1'-

¶26

¶27

oA.NO.118/2025

¶28

Rs.21,36,030.10ps as on 08.01.2025 with future interest @72o/o p.a. simple from the date of application til the date of realization;

¶29

ii) the OA claim is secured by way of mortgage of properties described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;

¶30

iii) the applicant bank is also entiued to proceed against the person and properties of defendants for realization of its dues;

¶31

iv) the applicant bank is entitled for the costs.

¶32

The Applicant Bank is directed to flle Cost Memo within 2 weeks from the date of receipt of this Order.

¶33

Issue Recovery Certificate accordingly.

¶34

Communicate a copy of this order to the parties concerned. (Dictated to the steno, corrected, signed and pronounced by me in the open court on t1 s Il'e 15" Ddv ol.ulv.2025r.

¶35

(RAMESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. Angothu Raveendar

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Angothu Raveendar

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

M/S. State Bank of India versus Mrs. Syed Shajeedha

Union Bank of India versus M/S Sai Surya Developers

Hdfc Bank Ltd. versus M/S Sri Veerabhadra Kirana and General Stores

Andhra Pradesh Grameena Bank versus a. Bhaskar

Mahabaleshwarappa P versus Karnataka Bank Limited

V Venkata Ramana versus Yes Bank