The Tribunal allowed the bank's application for recovery of Rs. 21.63 lakhs due from two borrowers for an unsecured loan classified as NPA. The order declared defendants jointly and severally liable and fixed interest at 8% p.a.
Recovery of Rs. 21,63,022.55 with annual current and future simple interest at 8% from OA filing date.
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.
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.1436/2022 PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 30.07.2022
DATE OF DECISION: 24.03.2025
ICICI BANK LIMITED, having its registered office at Land Mark, Race Course Circle, Vadodara 390007 Having its branch office at SCO-237238, Sector-20, Panchkula, Through its Authorized Representative Sh. Jatinder Mishra.
……..Applicant
Advocates:
Argued by Ms. Dipti Toni, Advocate proxy for Sh. Gagandeep Toni, Advocate for Applicant (through VC) Defendants are ex-parte
FINAL ORDER
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that applicant is entitled to recover a sum of Rs.21,63,022.55p (Rupees Twenty One Lacs Sixty Three Thousand Twenty Two and Paisa Fifty Five only) along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the account.
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3 issues framed by the court
Whether the applicant bank is entitled to recover the outstanding loan dues from the defendants.
Whether the rate of interest claimed by the applicant should be reduced by the Tribunal.
Whether the defendants are liable to pay the dues jointly and severally.
2 provisions across 2 enactments
ICICI Bank Limited
Sh. Bhinder Singh
Sh. Gurjant Singh
Mridulesh Kumar Singh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
