Allowed

Icici Bank Limited v. P. Maheshwara Rao

DRT23 Oct 2025OA/158/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's original application for recovery of Rs. 38,02,937.30 plus future interest and costs against the defendant, finding the defendant liable based on documentary evidence.

What did the court decide?

Defendant to pay Rs. 38,02,937.30 with future interest at 10.5% p.a. simple from date of application till realization; applicant bank entitled to proceed against person and properties for realization

Icici Bank Limited versus P. Maheshwara Rao — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD DATED THIS THE 23RD DAY OF OCTOBER,2025 PRESENT: SH. RAMESHWART<OTH-E, B.Com., L.LB. (Hons.), M.A. PRESIDING OFFICER

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Original Application No: 158 OF ZOZ5

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ICICI Bank Ltd., ICICI Towers, Gachibowli Serilingampally Mandal, Ranga Reddy District. Rep. by its Authorised Signa[ory.

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.....Applicant

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Versus

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P. Maheshwara Rao, S/o. Chandrayya Pothrakanda, Age 37 years, Occ: piivate Service, Plot No.287, Flat No.201 Reddys Avenue, Road No.5c, Near Pochamma Temple, Nizampet Hyderabad - 500090.

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Also at:-

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P. Maheshwara Rao, S/o. Chandrayya Pothrakanda, Age 37 years, Occ: private Service, JP Morgan Tower, Salarpuria Sattva, Knowledge City, Hitech iity Hyderabad - 500081.

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Also at:P. Jt4aheshwara Rao, S/o. Chandrayya Pothrakanda, Age 37 years, Occ: private !9rvi9e,^{H.No.12 13 45, Janathanagar} Shivalayam Near Moosapet, Balana-gar Hyderabad - 500018.

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Defendant

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Counsel for the Applicant : M/s. Lotus Law Associates

Defendants

:Ex-parte

oA,No.158/2025

:: ORDER^::

l. The^{Applicant Bank flled the presentOA for the recovery of a sum of} Rs.38,02,937.30ps^{from the defendant with future interest @105olo} p.a. compounded^{with monthlyrests from the date of applicationtill} the date^{of realisationalong with costs'}

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Summon^{sent to sole defendantreturned withendorsement} Refused,^{hence deemed to be served and was set ex-parteon} 24.06.?025^{as called absent and no representation'}

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The Applicant^{Bank examined K'Raja Yashwanth'Area Relationship} Manager^{as AW-1 and marked 06 documentsthrough himas Ex'} A.1 to^{Ex. A'06.}

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HeardtheLd.CounselfortheApplicantBankandPerusedthe material Placed^{on record'}

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The^{polnt that arises for considerationis:-}

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Whether^{the Applicant Bank is entitled for} the claim^{made in the oA against the}

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Defendant?

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As stated Affidavit^{coupled supra, with the the Defendant recitals remained in the documents ex-parte' viz'' The Exs EvidenceA l to} A.06^{marked on behalfof the Applicant Bank clinches the claim of} the APplicant^{Bank againstthe DefendantHence' I hold that the} DefendantisliabletopaytheoAclaimtotheApplicantBankwith future^{interest and costs'}

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In the result,^the Present^{Origina! Application} -,/Vw^,,-$^{No 158/2025 is} allowed^{as under: -} A/<'*'\

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OA.No.158/2025

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i) The Defendant^{is liable to pay to the Applicant Bank a} sum of Rs.38,02,937'30ps^{with future interest@10'5o/o} p.a. simple, from the^{date of applicationtill the date of} realization;

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ii) the applicant^{bank is also entitled to proceed against} the^person and^{propertiesof the defendantfor} realization of^{its dues;}

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iii) the applicant^{bank is entitledfor the costs'}

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to file Cost^{Memowithin 2 weeks}

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B, The Applicant^{Bank is directed} from the date^{of receiPt of this} Order.

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Issue Recovery^{Certificate accordingly'}

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Communicate^{a copy of this order to the parties concerned'} 1oi.,"t"A^{to the steno., tianscribed by him, corrected,signedand pronouncedbyme in the} open court^{on this the 23d day of october, 2025).}

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/X wr^.ryJ

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!l/$"tv

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(MMESHWAR KOTHE) PRESIDING^OFFICER

Icici Bank Limited v. P. Maheshwara Rao

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. P. Maheshwara Rao

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

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