Allowed

Icici Bank Limited v. Mr. Ragula Ramesh

DRT20 Aug 2025OA/136/2025

Case brief

AI extract

What is this about?

In an originating application for debt recovery, the Debts Recovery Tribunal allowed the claim of ICICI Bank Limited against Mr. Ragula Ramesh for a personal loan amount of Rs. 26,86,560.04 along with future interest and costs, as the respondent remained absent and the bank substantiated its case via documentary evidence.

What did the court decide?

Recovery of Rs. 26,86,560.04 plus future interest at 24% p.a. and costs.

Icici Bank Limited versus Mr. Ragula Ramesh — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I AT HYDERABAD

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DATED THIS THE 2OTH DAY OF AUGUST,2025

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PRESENT: SRI GUMMADI GOPICHAND, PRESIDING OFFICER OA.No.136 OF 2025

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Between:

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ICICI Bank Limited, Branch office at Gachibowli, ICICI Towers, Serilingampally mandal, Ranga Reddy district. Represented by its Relationship Manager

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Applicant

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VERSUS

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Mr. Ragula Ramesh, S/o RajamRagula, Aged major, occ: employee, No. 12-90/3-4, road no.5, Near Telangana Thalli Statue, Rallapeta by^pass road, Mancherial - 504 208. Telangana state.

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Also at :

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Mr. Ragula Ramesh, S/o RajamRagula S, Aged major, occ: entployee, 48-457/1, LIC colony, Mancherial, Adilabad - 504 208. rS.- 504 208. rS.504 208. rS.208. rS.rS.

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Also at

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Mr. Ragula Ramesh,Ragula Ramesh, S/o RajamRagula,RajamRagula, Aged major, occ: major, occ: occ: employee, C/o Govt of TelanganaGovt of Telangana Secondary education, education, MPUPS, Nagampet, Kotapallymandal, Defendant Mancherial, Chennur - 504 2L4.504 2L4. kfu",*,"S^ffi</sup>

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Adilabad - 504 208. rS.- 504 208. rS.504 208. rS.208. rS.rS. Also at Mr. Ragula Ramesh,Ragula Ramesh, S/o RajamRagula,RajamRagula, Aged major, occ: major, occ: occ: employee, C/o Govt of TelanganaGovt of Telangana Secondary education, education, MPUPS, Nagampet, Kotapallymandal, Mancherial, Chennur - 504 2L4.504 2L4. kfu",*,"S^ffi</sup>

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(oA.136 of 202s)

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Counsel for the Parties: For the Applicant For the Defendant

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M/s. M.V. Kini Exparte

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ORDER

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The Applicant Bank filed the present OA against Defendant for recovery of a total sum of Rs.26,86,56O.O4ps (Rupees Twenty Six Lakhs Eighty Six Thousand Five Hundred Sixty and paise four only) with future interest @ 24o/o p.a with monthly rests from 04.03.2025 till the date of realization.

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As per the averments in the application, the Applicant Bank states that defendant availed Personal loan of Rs.23.00 lakhs vide letter of arrangement dated 18.11.2022 and agreed to repay in 60 EMIs of Rs.49,703/- with interest @ 10.52olo p.a on monthly basis. After availing the loan facility, the defendants failed to comply the terms of sanction, hence the applicant bank classified the account as NpA and recall notice was issued on 28.09.2023. Inspite of several requests and demands, the defendants did not clear the outstanding. Hence this OA.

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nt and set exparte on 04.07.2O25.

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20AUC2m

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(OA.13ti of 202s)

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Sri Ka lva Rajayaswa nth, Area Relationship Manager of the Applicant Bank examined himself as AW,1 and exhibited relevant documents, which are marked as Ex.A.1 to A.7.

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5, Heard the Ld. Counsel for the Applicant Bank.

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The point that arise for consideration is whether the Applicant Bank is entitled for the claim made in the OA against the Defendant as prayed for?

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Defendant remained exparte. To substantiate the case of the Applicant Bank, AW.1, official of the Applicant Bank was examined and he exhibited relevant documents as Ex.A1 to A.7. In view of the above, I hold that the Applicant Bank has established their claim made in the OA against the Defendant and hence the Applicant Bank is entitled to recover the claim made in the OA with future interest and costs.

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B, In the result, the present OA is allowed with costs, as under:

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The Defendant is liable to pay to the Applicant Bank a total sum of Rs.26,86,560.04ps (Rupees Twenty Six Lakhs Eighty Six Thousand Hundred Sixty and palse four only) with future 04.03.2025 till the date of realization ;

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(OA.136 o'f 2O2S)

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9, The Applicant Bank is also entitled to proceed against the person and properties of defendant towards realization of the debt due.

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The Applicant Bank is entifled to the costs of the OA.

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The Applicant shall file a cost memo within two weeks from the date of receipt of order.

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12, Issue Recovery certificate accordingly.

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communicate a copy of the order to the parties concerned.

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(Dictated to the P.A., transcribcd bv hcr, corrcclcd, signod and pronounced by me in the open court on this thc 20'r'clay of Auq, ?O)ir)

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(G. GOPTCHAND)

PRESIDING OFFICER

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¶40

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Icici Bank Limited v. Mr. Ragula Ramesh

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Mr. Ragula Ramesh

Case brief

What is this about?

What did the court decide?

What the court decided

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