Allowed

Icici Bank Limited v. Amir Khan

DRT24 Dec 2025OA/136/2022

Case brief

AI extract

What is this about?

In an ex-parte hearing, the Tribunal allowed ICICI Bank's application under the RDB Act to recover Rs. 20.46 lakhs with interest from the defendants, who failed to appear despite service of summons. The judgment directs enforcement against the hypothecated vehicle and issuance of a Recovery Certificate.

What did the court decide?

Recovery of aggregate sum of ₹20,46,425.50/- with simple future interest @ 12% per annum; Enforcement against hypothecated vehicle; Issuance of Recovery Certificate.

Icici Bank Limited versus Amir Khan — Banking and Recovery | DRT (2025)

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ORIGINAL APPLICATION NO.136 OF 2022

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DEBTS RECOVERY TRIBUNAL No.2, MUMBAI

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PRESIDING OFFICER: HARISH KUMAR KAUSHIK

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ORIGINAL APPLICATION NO.136 OF 2022

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Date of Institution: 26.03.2021 Date of Decision: 24.12.2025

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TOTAL CLAIM AMOUNT:

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₹ 20,46,425.50/-

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ICICI BANK LIMITED

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A banking company incorporated and registered under the provisions of the Companies Act, 1956 and a Scheduled Bank within the meaning of the Reserve Bank of India Act, 1943 and having its registered office at “ICICI Bank Limited”, Near Chakli Circle, Old Padra Road, Vadodara – 390 007, Gujarat and its Corporate Office at ICICI Bank Towers, Bandra Kurla Complex, Mumbai – 400 051 and also having address at ICICI Bank Ltd., Trans Trade Center, Near Flora Deck Plaza, Seepz, MIDC, Andheri (E), Through its Constituted Attorney Mr Sameer Pange, Manager

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… Applicant

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Versus

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Mr Amir Khan Having residential address at: Flat G/7, Building A-3, Uidyadaini CHS Ltd., CBHO Pipeline Road,

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Page 1 of 8

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ORIGINAL APPLICATION NO.136 OF 2022

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Andheri(E), OM Nagar, Mumbai, Pincode-400 099 And Permanent address at: Bori CHL B Block Link Road, Tilak Nagar Sakinaka Kurla (West) Mumbai – 400 072 2. Mrs Mehrunisa Khan Having Residential address at: Flat G/7, Building A3 Vidhyadaini CHS Ltd CB HO Pipe Line Road Om Nagar, Andheri (East) Mumbai – 400 099 And Having Permanent address at: Near Noor Masjid, Room No. B-9, Boro Chawl, Link Road, Sakinaka, SO Mumbai, Pin-400 072 …Defendants

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APPEARANCES

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For the Applicant : Ms Mandira Dey i/ M/s. Vidhii Partners - Advocate For Defendants : None

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J U D G M E N T

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(1) This is an application under Section 19(1) of the Recovery of the Debts due to Banks and Financial Institutions Act, 1993 renamed as Recovery of the Debt and Bankruptcy Act, 1993 (for short, ‘the 1993 Act’) to recover ₹20,46,425.50/- (Rupees Twenty Lakhs Forty Six Thousand Four Hundred Twenty Five and paisa Fifty Only) with future

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Page 2 of 8

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ORIGINAL APPLICATION NO.136 OF 2022

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interest @ 14.05% per annum with monthly rest thereon from the date of presentation of the Original Application i.e. 26.03.2021 till payment/realization and to enforce the hypothecated security.

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The details of the claim amount are as under: -

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Sr	Nature of	O/s.	Normal	Penal	Other	Total Amount
N	Facility		Interest @	Interest	Charg
o			14.05%	@ 24%	es
1	Commerci	17,31,27	2,21,844.5	84,454.7	8850	20,46,425.50
	al Vehicle Loan	6.30	0	0

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(2) It is undisputed fact in the matter that the Defendant no.1 was duly served with the summons vide order-sheet dated 04.07.2024. Despite service, the defendants did not enter their appearance and therefore, they are set ex-parte on 10.09.2025.

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(3) Defendant nos.1 and 2 are the co-borrowers who approached the Applicant Bank seeking financial assistance by way of Vehicle Loan Facility. Pursuant to the loan application vide Preliminary Application Form made by defendants, the Applicant sanctioned the loan vide Facility Application Form dated 18.01.2019 for sum of ₹18,33,095/- (Rupees Eighteen Lakhs ThirtyThree Thousand Ninety-Five Only) payable in 60 EMI of ₹43,720/- (Rupees Forty-Three Thousand

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Page 3 of 8

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ORIGINAL APPLICATION NO.136 OF 2022

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Seven Hundred Twenty Only) with as interest at the rate of 14.05% per annum fixed interest. The 1^st instalment was to be paid on 22.03.2019 and the due date for payment of the first EMI was on 22^nd day of each month.

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The details of the Sanction amount are as under: -

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Sr	Nature of	Date of	Amount	ROI	Security
No	Facility	Sanction
1	Vehicle	18.01.2019	18,33,095	14.05	Hypothecated Vehicle
	Loan			% p.a.	ECOMET 1214 E4
					Engine No: JYEZ430938
					Chassis No:
					MB1A2GCD2JRYZ2134
					Registration No:
					MH03CP9439
	Total	-	18,33,095	-	-
	Amount

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(4) On the dates given below, defendants signed and executed the loan and security documents as set out in paragraph no. 5 (e) of the Original Application. Defendants hypothecated Vehicle ECOMET 1214 E4 Engine No: JYEZ430938 Chassis No: MB1A2GCD2JRYZ2134 Registration No: MH03CP9439 to secure the loan.

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The details of the documents executed by the Defendants are as under: -

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(a) Undated Preliminary Application Form No.243290;

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(b) Credit Facility Application Form dated

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Page 4 of 8

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ORIGINAL APPLICATION NO.136 OF 2022

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18.01.2019 for an amount of 18,33,095/-;

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(d) Stamped and Unattested Deed of Hypothecation dated 18.01.2019;

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(e) Accepted Key Fact Statement & Most Important Information Form No.243290;

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(f) Irrevocable Power of Attorney dated 18.01.2019.

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(5) After availing the loan, defendants did not adhere to the financial discipline and committed default in payment of instalments and repayment of the loan and accordingly the accounts of the borrowers were declared as Non-Performing Assets (N.P.A.) on 29.02.2020 as per RBI Guidelines. Therefore, on 02.11.2020, the applicant, called upon defendants to liquidate the outstanding in the sum of 19,48,936.00/- (Rupees Nineteen Lakhs Forty-Eight Thousand Nine Hundred ThirtySix Only) as on 19.10.2020 with further interest within 7 days from receipt of this notice. Despite notice, defendant nos.1 and 2 failed and neglected to pay.

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(6) As on 08.02.2021, there was owing, due and payable by defendants to the applicant the aggregate sum of ₹20,46,425.50/- (Rupees Twenty Lakhs Forty-Six Thousand Four Hundred TwentyFive and paisa Fifty Only) with future interest @ 14.05% per annum with monthly rest thereon

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Page 5 of 8

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ORIGINAL APPLICATION NO.136 OF 2022

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from the date of presentation of the Original Application i.e., 26.03.2021. The applicant has maintained the loan ledger extract and the entries posted therein are made in the usual and ordinary course of the banking business.

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(7) Since, defendants failed and neglected to make the payment, the applicant was left with no other alternate but to file the Original Application which was presented on 26.03.2021.

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(8) The applicant has filed affidavit (exhibit-6) in lieu of examination in chief of Mr Sameer Pange, Manager and list of documents (exhibit-7) thereby adducing in evidence the documents at AW-1 to AW-6, which are admitted in evidence, read, recorded and exhibited.

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(9) Accordingly, in the Original Application was filed for the recovery of ₹20,46,425.50/- (Rupees Twenty Lakhs Forty-Six Thousand Four Hundred Twenty-Five and paisa Fifty Only) with future interest @ 14.05% per annum with monthly rest thereon from the date of presentation of the Original Application i.e., 26.03.2021 till payment/realisation.

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(10) The Tribunal has scrutinised and examined the allegations contained in the Original Application and analysed the evidence adduced by the applicant which has gone unchallenged, uncontroverted and unrebutted.

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Page 6 of 8

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ORIGINAL APPLICATION NO.136 OF 2022

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(11) Upon careful scrutiny and the examination of the Original Application, analysing the evidence and giving due weightage to the documentary evidence adduced by the applicant, the Tribunal views that there is no reason to disbelieve the claim made by the applicant bank.

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(12) In view of the observations made hereinabove, Original Application filed by the applicant deserves to be allowed.

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(13) Hence, the following order:

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ORDER

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(A) The Original Application No.136 of 2022 is allowed with costs.

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(B) Defendant nos.1 and 2 are ordered and directed to pay to the applicant, either jointly or severally, the aggregate sum of ₹20,46,425.50/- (Rupees Twenty Lakhs Forty-Six Thousand Four Hundred TwentyFive and paisa Fifty Only) with simple future interest @ 12% per annum thereon from the date of presentation of the Original Application i.e. 26.03.2021 till payment/realization.

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(C) The aforesaid adjudicated amount is secured by the valid and subsisting hypothecated property, that is, Vehicle ECOMET 1214 E4 Engine No: JYEZ430938 Chassis No: MB1A2GCD2JRYZ2134 Registration No: MH03CP9439.

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(D) Defendant nos.1 and 2 are entitled to redeem the hypothecated property as per law failing which the

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Page 7 of 8

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ORIGINAL APPLICATION NO.136 OF 2022

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applicant has right to proceed to sell the hypothecated property and recover dues as per law.

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(E) Issue Recovery Certificate.

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(F) The learned Registrar is directed to send a copy of the judgment and recovery certificate to (i) the applicant, (ii) defendant and (iii) the Recovery Officer by post and email.

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Sd/-

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(Harish Kumar Kaushik) Presiding Officer, DRT-2, Mumbai

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Page 8 of 8

Icici Bank Limited v. Amir Khan

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Amir Khan

Case brief

What is this about?

What did the court decide?

What the court decided

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