Allowed

Icici Bank Limited v. Senapathi Sai Krishna

DRT8 Apr 2025OA/288/2024

Case brief

AI extract

What is this about?

Allowed an original application for recovery of Rs. 23,47,062/- with future interest. Held defendants jointly and severally liable, secured claim against hypothecated vehicle, and directed issuance of recovery certificate.

What did the court decide?

Recovery of Rs. 23,47,062/- plus future interest; authority to proceed against hypothecated vehicle and defendant properties; issuance of Recovery Certificate.

Icici Bank Limited versus Senapathi Sai Krishna — Execution and Attachment | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDEMBAD

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DATED THIS THE OSth DAY OF APRIL, 2025

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PRESENT: SH. RAMESHWAR KOTHE, B.COM., L.LB. (HONS,), M.A. PRESIDING OFF]CER

¶4

ORIGINAL APPLICATION No: 288 OF 2024

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ICICI Bank Limited., Gachibowli, ICICI Towers, Serilingampally Mandal, Ranga Reddy District. Rep. by its Authorized Signatory.

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,....Applicant.

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Versus

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M r. Sena pathi Sai Krishna,

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S/o. Senapathi laga nmohan Rao, Age 30 Years, Occ: Self Employee, Flat No.G1, Sy.No.10, Vasavi Shantiniketan, While Fields, Near Ramalaya Temple, Kondapur,

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Hyderabad - 500084, Telangana State.

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Also at:-

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Ivl r. Senapathi Sai Krishna, S/o. Senapathi laganmohan Rao, Age 30 Years, Occ: Self Employee, C/o.lSD lvledical Business management Services, Plot No.12l2, Near Pride Honda Showroom, Sector-L, H uda Techno Enclave, lYad hapu r,

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Hyderabad - 500081, Telangana State.

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ISD Medical Business management Services, Rep by its lvlanaglng Director M r. Sena pathi Sai Krishna, Plot No.12l2, Near Pride Honda Showroom, Sector-L, Huda Techno Enclave, Mad hapu r,

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Hyderabad - 500081, Telangana State.

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Defendants fi1*o^1., 1l''

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oA.NO.288/2024

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Counsel for the Applicant

:M/s.lvl.V. KINI

Defendants

:Ex-parte

:: qLLEg ::

The Applicant Bank filed the present OA for the recovery a total sum of Rs.23,47,062/- as on 23.04.2024 from the defendants jointly and severally with future interest @24olo p.a. with monthly rests ftom 24.04.2024 tlll the date of reallzation along with costs and in default for sale of hypothecated vehicle.

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Summons served on D1 and 2 through paper publlcation. They were set ex-parte on 71.09.2024 as called absent and no representation.

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The Applicant Bank examined Kalva Rajayaswanth, Area Relationship Manager, as AW-1 and marked 08 documents through him as Ex.A.1 to Ex. A.08.

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Ld. Counsel for the Applicant Bank reported orders may be passed through merits. Perused the material placed on record.

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The point that arises for consideration is:-

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Whether the Applicant Bank is enti ed for the claim made in the OA against the Defendants and OA hypothecated vehicle?

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As stated supra, the Defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs.A.1 to A.08 marked on behalf of the Appiicant Bank clinches the claim of the Applicant Bank against the Defendants.

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,Xry-'-.$j-/ 'b^'

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oA.NO.288/2024

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Hence, I hold that the Defendants are joinfly and severally liable to pay the OA claim to the Applicant Bank with future interest and costs.

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In the result, the present Original Application No.2ggl2024 is allowed as under: -

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i) The Defendants are joinfly and severally liable to pay to the Applicant Bank a sum of Rs.23,47,062l- as on 23.04.2024 with future interest @11olo p,a. simple from the date of application till the date of realization;

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ii) the OA claim is secured by way of hypothecation of vehicle described in the schedule annexed to the OA and the applicant bank is entiiled to proceed against the same to realise its deb$

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

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iv) the applicant bank is entitled for the costs.

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

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Issue Recovery Certiflcate accordingly.

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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 this the 08th Day of April, 2025).

¶41

ESHWAR KOTHE) PRESIDING OFFICER

Icici Bank Limited v. Senapathi Sai Krishna

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Senapathi Sai Krishna

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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