Allowed

Icici Bank Limited v. Surender

DRT6 Oct 2025OA/409/2023

Case brief

AI extract

What is this about?

The Tribunal allowed an original application filed by ICICI Bank Limited for recovery of outstanding dues and interest from loan and guarantor respondents who failed to repay a commercial vehicle loan, directing ex-parte enforcement against the absent defendants.

What did the court decide?

Directing respondents to pay Rs. 25,12,536/- with future interest at 11% p.a.; issuing recovery certificate; directing sale of hypothecated vehicle and other assets for recovery of shortfall.

Icici Bank Limited versus Surender — Execution and Attachment | DRT (2025)

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O.A. No.409 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. 409 of 2023

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ICICI Bank Limited Videocon Tower, Central Mailing Room, E-4 Jhandewalan Extension New Delhi-110055 Applicant Versus 1. Mr. Surender Kumar s/o Mr. Rati Ram H.No.49, Block no.2 Village Naya Gothara Mohabatabad, Faridabad Near Radha Krishna Mandir, Haryana-121004 2. Ms. Kavita w/o Mr. Surender Kumar H.No.49, Block no.2 Village Naya Gothara Mohabatabad, Faridabad Near Radha Krishna Mandir, Haryana-121004 3. Mr. Surander Singh s/o Shyambir Singh CM BAD, PALI (15) Faridabad, Haryana-121004 Defendants Present: Ms. Usha Singh, Counsel for the applicant bank Date of Reserve :09.09.2025 Date of Pronouncement: 06.10.2025 FINAL ORDER This original application has been filed by the applicant bank on 14.04.2023 through Ms. Alka Sharma, authorized representative of the applicant bank under Section 19 of

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O.A. No.409 of 2023

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R-covery of Debts and bankruptcy Act, 1993 (as amended upto date) against the defendants for recovery of Rs.25,12,536/(Rupees Twenty Five Lacs Twelve Thousand Five Hundred Thirty Six only) as on 02.01.2023 along with future and pendentelite interest ©11% per annum with monthly rests from 02.01.2023 till the date of realization and costs.

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The brief facts of the case are that at the request of defendant no.1 & 2, the applicant bank sanctioned Commercial Vehicle Loan facility for a sum of Rs.37,10,600/- (Rupees Thirty Seven Lacs Ten Thousand Six Hundred only) on 30.01.2020 ©11% interest per annum for purchase of Goods Carrier TATA LPK3118 CRE 8X4 BSIV against hypothecation of vehicle to be repayable in 47 EMI of Rs.98179/- w.e.f. 22.03.2020. The defendant no.3 stood as guarantor for vehicle facility sanctioned by applicant bank in favour of the Defendant no.1.

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That in order to avail the commercial vehicle loan facility, the defendant no.1 & 2 executed Sanction Letter, Credit Facility Application Form along with Terms & Conditions of the Loan, Unattested Deed of Hypothecation, Irrevocable Power of Attorney and defendant no.3 executed Deed of Guarantee with the applicant bank on 30.01.2020.

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That in order to secure the loan facility, the defendants hypothecated the Commercial vehicle namely Goods Carrier TATA LPK 3118 CRE 8X4 BS IV model, having Registration no. HR-38AB-5400 with Engine no. ISB5.9B4S180K191M63820901 having Chassis no.MAT466611K3P26377 in favour of applicant bank on 30.01.2020 and duly charge has been registered towards applicant bank with RTO records as per Vahan details.

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0.A. No.409 of 2023

5 It has been submitted by the applicant bank that after a ailing the loan facility, the defendants failed to comply with t e terms and conditions of sanction despite several requests a d failed to pay the outstanding dues and monthly i stallments in time to the applicant bank. The applicant bank c assified the account as NPA on 20.09.2022 as per RBI g idelines and issued recall notices dated 30.11.2022 but d fendants failed to clear outstanding dues. Hence, the a plicant bank has approached this Tribunal for recovery of t eir dues.

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6 Notices of this O.A. were issued to the defendants and d spite proper service through publication in newspapers, the d fendants have chosen to absent from the proceedings. As p r order dated 09.05.2025, the defendants have been p oceeded ex-parte as not appeared before the Tribunal and e en no written statement, evidence and affidavit of assets have been filed by the defendants.

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In order to prove its case, the applicant bank has filed its e idence by way of affidavit of Ms. Alka Sharma, authorized r • presentative of the applicant bank who has proved the d•cuments as Affidavit in Evidence, Power of Attorney, Loan pplication, Loan Agreement, Unattested Deed of ypothecation, Irrevocable Power of Attorney, Guarantee eed, VAHAN details and Hypothecation details of Vehicle, NPA certificate, Recall Notice dated 30.11.2022 and Certified

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atement of Account along with Foreclosure Statements, epayment Schedules and Certificates u/s 2A of Bankers' rooks Evidence Act marked as Ex.AW-1/1 to Ex.AW-1/10 oily). sd-

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O.A. No.409 of 2023

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

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

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The case filed by the applicant bank gone unrebutted and t ere is no question of disbelieving the case of the applicant •ank and the applicant bank has proved its case beyond r asonable doubts.

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

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ORDER

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allow this OA and direct the defendants to pay to the

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applicant bank, jointly or severally, within a period of 30 days, a sum of Rs.25,12,536/- (Rupees Twenty Five Lacs Twelve housand Five Hundred Thirty Six only) as on 02.01.2023 along ith future and pendentelite interest @11% per annum with onthly rests from 02.01.2023 till the date of realization and

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casts failing which the aforesaid amount shall be recovered f om sale of hypothecated Commercial Vehicle namely Goods carrier i.e. Model TATA LPK 3118 CRE8X4 BSIV having Regn. o.HR38AB5400, Chassis no.MAT466611K3P26377, Engine no.

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I B5.9B4S180K191M63820901. In case of shortfall, the same s all be recovered from the sale of movable and immovable assets of the defendants.

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I) The recovery certificate be issued forthwith and be sent

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t the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

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O.A. No.409 of 2023 ( II) Parties are directed to appear before the Recovery fficer, DRT I, Delhi on 04.12.2025. V) Copies of final order as well as Recovery Certificate be ( s nt to all concerned free of cost. 'd- (GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI ( I ictated and pronounced in open court) • ated: 06.10.2025

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Icici Bank Limited v. Surender

Case brief

What is this about?

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Icici Bank Limited v. Surender

Case brief

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