Allowed

Icici Bank Limited v. Sh. Chahat Ram

DRT23 Dec 2025OA/383/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's original application for recovery of Rs. 65.31 lakhs plus interest. The defendant failed to appear or file a written statement. The court relied on the bank's documentary evidence regarding the loan and hypothecation to enter a final order directing payment.

What did the court decide?

Directed defendant to pay Rupees 65,31,103 with interest and costs within 30 days, recoverable from sale of hypothecated vehicles and other assets.

Icici Bank Limited versus Sh. Chahat Ram — Banking and Recovery | DRT (2025)

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O.A. No.383 of 2023

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Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi

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Presiding Officer: Shri Govind Ballabh Sharma

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O.A. No. 383 of 2023

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ICICI Bank Limited R-846, New Rajinder Nagar New Delhi-110060

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Applicant

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Versus

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Sh.Chahat Ram s/o Sh.Khacharoo Singh Proprietor of Om Construction Co. Resi-cum-Office : 45, Village Phoolpur, P.O.Khandera Tehsil Dadri, Khandera Girirajpur G.B.Nagar, Near Naveen Mandi Dadri, UP-203207

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Defendant

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Present: Shri Rachit Bigghe, Counsel for the applicant bank

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Date of Reserve : 10.12.2025

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Date of Pronouncement: 23.12.2025

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FINAL ORDER

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This original application has been filed by the applicant bank before DRT-I, Delhi on 15.03.2023 under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 Read with Rule 8 of the Debt Recovery Tribunal (Procedure) Rules 1993 against the defendant for recovery of a sum of Rs.65,31,103/- (Rupees Sixty Five Lacs Thirty One Thousand One Hundred Three only) as on 11.01.2023 along with pendentelite and future interest @9.00% per annum with

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O.A. No.383 of 2023

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monthly rest from date of filing of this application till the date of realization and costs.

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The brief facts of the case are that at the request of defendant vide application dated 29.12.2020, the applicant bank sanctioned commercial vehicle loan of Rs.1,15,77,603/(Rupees One Crore Fifteen Lacs Seventy Seven Thousand Six Hundred Three only) & disbursed an amount of Rs.1,15,07,784.62 to M/s Dhingra Trucking Pvt.Ltd. and on 30.12.2020 in order to purchase Three Commercial Vehicles namely "BHARAT BENZ/2828C" under Loan-cumHypothecation scheme, to be repayable in 41 equated monthly installments of Rs.1,09,472/-. The defendant agreed to pay penal interest @24% p.a. on the outstanding equated monthly installments amount and applicant bank entitled to take possession of commercial vehicles.

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That in order to avail the Commercial Vehicles Loan facilities, the defendant submitted loan application and executed Credit Facility Application along with Terms and Conditions of the Loan, Unattested Deed of Hypothecation and Irrevocable Power of Attorney etc. on 29.12.2020.

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In order to secure the loan facilities, the defendant hypothecated three commercial vehicles namely Bharat Benz/2828C having Regn. No.RJ-20GB-9301, RJ-20GB-9302 & RJ-20GB-9303 Engine No.926956D0094864, 926956D0095352 and 926956D0094477 and Chasis No. MEC841FBCLP093366, MEC841FBCLP093781 and MEC841FBBLP093018 in favour of applicant bank.

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O.A. No.383 of 2023

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It has been submitted by the applicant bank that after availing the commercial vehicle loan facilities, the defendant failed to comply with the terms and conditions despite several requests and defendant failed to pay the outstanding dues and monthly installments in time to the applicant bank. The applicant bank terminated the agreements and recall the loan through recall notice dated 12.08.2022 to adjust the outstanding amount along with interest or handover the possession of the vehicle but defendant failed to comply with the notice. Hence, the applicant bank has approached this Tribunal for recovery of their dues.

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Notices of this O.A. were issued to the defendant and despite proper service through publication in newspapers, the defendant has chosen to absent from the proceedings. As per order dated 22.07.2025, the defendant has been proceeded ex-parte as not appeared before the Tribunal and even no written statement, evidence and affidavit of assets have been filed by the defendant.

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In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Rajat Chandra, authorized representative of the applicant bank who has proved the documents such as Power of Attorney Ex-AW1/A, Credit Facility Application along with Terms and Conditions of the Loan ExAW1/B, Unattested Deed of Hypothecation Ex-AW1/C, Irrevocable Power of Attorney Ex-AW1/D, Recall Notice ExAW1/E, Receipts Ex-AW1/F, Statement of Account Ex-AW1/G.

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The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the

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O.A. No.383 of 2023

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applicant bank is based on the documents and the same have been duly proved.

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The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant bank and the applicant bank has proved its case beyond reasonable doubts.

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In the light of the above discussions and documents on record, the Original Application deserves to be allowed.

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ORDER

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I, allow this OA and direct the defendant to pay to the applicant bank within a period of 30 days, a sum of Rs.65,31,103/- (Rupees Sixty Five Lacs Thirty One Thousand One Hundred Three only) as on 11.01.2023 along with pendentelite and future interest @9.00% per annum with monthly rests and costs from date of filing of this application failing which the aforesaid amount shall be recovered from sale of hypothecated Three commercial vehicles namely Bharat Benz/2828C having Regn. No.RJ-20GB-9301, RJ-20GB-9302 & RJ-20GB-9303 Engine No.926956D0094864, 926956D0095352 and 926956D0094477 and Chasis No. MEC841FBCLP093366, MEC841FSCLP093781 and MEC841FBBLP093018. In case of shortfall the same shall be recovered from the sale of movable and immovable assets of the defendant.

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(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

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O.A. No.383 of 2023

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(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 20.02.2026.

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(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

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(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI

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(Dictated and pronounced in open court) Dated: 23.12.2025

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Icici Bank Limited v. Sh. Chahat Ram

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Sh. Chahat Ram

Case brief

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